Car Accident

[Yugo]

First, the bad news. I took the car into the body shop today. The initial estimate rates the damage at about 4000-5000 dollars, which, given it was a 15-20 mph crash, is almost ridiculous, but it'll take a couple of days for an actual estimate on the total damage. The car is only worth about $1500. Even if it were worth fixing, the mechanic said it would take about 4 weeks to do so.

The good news. I have full coverage under my car insurance. So even if the car is junked, which is very likely, they total it, I get a different car, and my rates go up. All things considered, I'm still alive and it's only a car. Right now a friend is driving down to pick us up so that I'm not stranded here, so if you're on AIM/MSN etc. you might see me later tonight, but for now I'm stuck in Ohio. -hugs everyone-

[llearch n'n'daCorna]

I'm glad to hear you're ok. That's the important bit, really.

[Brunhidden]

always see if some idiot dealer is willing to actually buy the crapbucket off of you


and sucks to be in ohio, please dont injure yourself with boredom

[Cogidubnus]

...$4000-$5000 dollars? Wow. You could buy a pretty nice used vehicle for that much. I wish you luck, sir.

[Tapewolf]

All things considered, I'm still alive and it's only a car.

Good to hear.  When I saw the topic I was afraid it was going to be worse.

[Yugo]

Thanks everyone, my friend is here so I'm back off home. I'll see you all later. -hugs-

[Darkmoon]

...$4000-$5000 dollars? Wow. You could buy a pretty nice used vehicle for that much. I wish you luck, sir.

But the car is only worth 1500 or so, so the insurance company will total it and give him 1500 (less his deductible).

[Cogidubnus]

...$4000-$5000 dollars? Wow. You could buy a pretty nice used vehicle for that much. I wish you luck, sir.

But the car is only worth 1500 or so, so the insurance company will total it and give him 1500 (less his deductible).

Let's not talk about insurance companies. We could talk about so many other, more pleasant things! Like kidney stones. Or Satan.

[Lysander]

Good to hear you're alive and well considering the situation. Hope things work out for ya.   

[Darkmoon]

...$4000-$5000 dollars? Wow. You could buy a pretty nice used vehicle for that much. I wish you luck, sir.

But the car is only worth 1500 or so, so the insurance company will total it and give him 1500 (less his deductible).

Let's not talk about insurance companies. We could talk about so many other, more pleasant things! Like kidney stones. Or Satan.

Satan gets a bad rap. He's really not that bad a guy.

[Drase]

Satan gets a bad rap. He's really not that bad a guy.

Well... He can be if you insult him the right way. 

But i'm just glad there was no serious injury

[Azlan]

Having worked as an insurance underwriter for GEICO in the past, I am well versed with automotive claim procedures.

The vehicle is valuated at current market value or Blue Book, which ever is higher, here in the United States.  The threshold for salvage is generally 80% to value of the vehicle and judging by the repair cost is most definitely in excess of that.  In most states, the adjuster will take a sampling of current private party and dealer retail values for the vehicle for all trim levels of the vehicle.  So if you own a vehicle that has multiple trim packages and you are in a base model, the value will include the estimates for the top and midline vehicles.  If you have a top line model then only the upper trim levels are sampled.  They will then take the higher value of current market value or Blue Book minus deductible (which if you are not at fault can be subrogated from the at fault party's insurance or personal liability if uninsured).  If it is a clear case of fault for the other party, you can force your insurance company to issue you the deductible reimbursement instead of waiting for the due process of subrogation.

Just be aware that if you have rental reimbursement, most insurance companies end that coverage at the very point they make their decision on pay-out for the claim not when you receive payment for your claim.

Ohio has a precedent for diminished value claims, which is the loss of value of a vehicle as the result of accidents and subsequent repairs.  This sort of thing does not really apply for your case though.