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1) Which car insurance companies pay out the true replacement cost of a totaled car without a fight, (or without much of a fight) ?
2) Which car insurance companies have you actually used, who you would recommend, who paid out well, for a totaled vehicle ?
My friend only got $2800. for her totaled car, and we can't find any similar quality car to buy to replace what she lost that costs that little. It makes me worried about what could happen if I totaled my older (but near perfect car) and how badly I would be screwed... unable to get a good car to replace it... car prices are so high lately.
.one of my cars is a perfect condition 1999 chevy lumina with only 10,000 miles on it.
Its perfect inside and out...
These days the price for a six cylinder car in perfect condition probably costs over $12,
maybe $20.
I wouldn't want any car that costs only $3,000. -
which is probably what they'd try to give me, the ones I've seen are all junk.
I went through a period a few years ago when each of my two oldest kids totalled a car. In the first case it was a 6 year old Taurus and I was paid well over what I had researched as the market value. It's replacement was a 2 year old Cavalier when it was wrecked and again I received well over what I had researched as the market value.
Hi - I know this is a really old thread, but hoping you'll see this.
what insurance company was this, that paid out well enough to replace the car,
and even better than replacement cost ?
Did you pay extra for replacement cost coverage, or just regular payments ?
I want to get replacement amount of coverage - I have a perfect condition car, inside and out,
but the year is 1999. only 10,000miles, and been in a garage, very lightly driven.
To get a replacement car in that good of condition, would cost thousands.
My friend cant get a decent car for the amount the ins. company paid her.
She only got $2800 for her totaled car. cars that price are junk.
5 years ago, I bought a 5spd 95 Integra sedan for $2200. Did some maintenance like timing belt and shocks. So I spent about $3000 in total. Mileage was 100k. A year later it was stolen and I got a check for slightly above $4000 after deductible. Bought an 5spd 02 accord sedan for $3500. Managed to cover my taxes. I am with geico. Pretty happy that I didn't have to spent extra.
Hi - I know this is a really old thread, but hoping you'll see this.
what insurance company was this, that paid out well enough to replace the car,
and even better than replacement cost ?
Did you pay extra for replacement cost coverage, or just regular payments ?
I want to get replacement amount of coverage - I have a perfect condition car, inside and out,
but the year is 1999. only 10,000miles, and been in a garage, very lightly driven.
To get a replacement car in that good of condition, would cost thousands.
My friend cant get a decent car for the amount the ins. company paid her.
She only got $2800 for her totaled car. cars that price are junk.
Cars cost so much these days.
.
Erie.
You may have misunderstood what I said. I was paid more for the totaled cars than what I had researched, and believed, to be the fair market value.
It was not enough to straight line replace the car, unless I replaced it with the exact one. In each case the settlement money was used to buy a newer, more expensive car, so I had to put money with it.
If you listen to the guy in the Liberty Mutual commercial, replacement value isn’t enough. He wants a NEW car and apparently the insurance company is promising just that.
If you listen to the guy in the Liberty Mutual commercial, replacement value isn’t enough. He wants a NEW car and apparently the insurance company is promising just that.
I believe they only offer that on fairly new cars and of course you pay a higher premium.
Otherwise, people would go out and buy 3,000 beaters and then ooops *forget* to put the parking brake on the car (it takes very little damage to total a car worth 3k) or leave the keys in it near the mexican border etc.
We've been with State Farm for over 30 years, and have never had issues with claims. On all of the claims, I got either more than it cost to repair, (on paid off vehicles, I got the check and sourced the parts myself) or I did not have any issues getting them to pay. On my one totaled car last year, they were within $50 of my market value estimate on their first offer. Great thing was I paid $470 less than their offer for the car, 2-1/2 years earlier. I could have bought an exact replacement for what they paid me, but ended up buying a new car for my daughter instead.
Every car owner needs to read and understand his or her auto policy. A standard auto policy pays actual cash value for a total loss vehicle. This is the price a car would command on the retail market in the condition it was in before it was wrecked. If you were uninsured at fault and wrecked another persons 1998 Accord would you feel it was fair to be made to pay for a brand new 2015 Accord?
Every car owner needs to read and understand his or her auto policy. A standard auto policy pays actual cash value for a total loss vehicle. This is the price a car would command on the retail market in the condition it was in before it was wrecked. If you were uninsured at fault and wrecked another persons 1998 Accord would you feel it was fair to be made to pay for a brand new 2015 Accord?
Like all insurance people want cadillac coverage but balk when they see the price tag.
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