Insurance Claim - Car Totalled

[spacyfoil]

Guys family member got into accident. He is okay, but car is Fubar.

Waiting for insurance to come up with a quote.

Wondering anyone with this unfortunate experience could give some advice.

Is it a good idea to lawyer up ? Are we to bargain ?

Thanks.

 

[eldoguy]

insurance companies usually try these values, make sure you have receipts for any major repairs;

http://www.canadianblackbook.com/black-book-values

 

[nihilism]

I just went through this last month. A couple things to understand. First the insurance company will press you to make an immediate decision on their offer. They will claim to only provide rental coverage for three days post offer. Do not accept the initial offer. Ask them to send you the vehicles they used to estimate the value of your loss. You then need to find flaws(year, features, higher mileage) in these cars.
Do your research and find comparable cars(year, features, mileage), through auto trader, kijijji, car dealers etc. You will need 8-10 comparable vehicles. Next you need to send the insurance company your counter offer, and comps. They will drag their feet responding to you, as they are trying to press you to accept their offer. Keep pushing through rep, and supervisor for a better offer. If they do not agree, escalate to the insurance companies internal ombudsman. They can negotiate further.
My insurance company initially offered me $7,600 for my totaled car, I ended up settling at $10,450.

 

[spacyfoil]

Thanks guys. Valuable advice.

You are right about dragging their feet. Two weeks to accident today, still no quote.

 

[The Bandit]

Go to a dealership and find out what it was worth.

In 2000 my 1996 Civic was written off, I received $13,400 for a 3.5 year old car with 87,000km on it. I added $7,800 and got a new one (a few options added).

They wanted me to return the rental the day I received the cheque, but I kept it 2 more days until I picked up the new one, and they never said anything.

 

[Ceiling Cat]

Most insurance companies will offer a realistic value, if you ere to argue for 10-15% more they do not put up a fuss because time is money for them and it cost them more to argue. Get many estimates. There are many categories in the black book argue that you are in the EXTRA - CLEAN category and show them your best estimate. They want to close out the case as soon as possible, the longer you keep their rental car the more it will cost them.

In 2000 my 1996 Civic was written off, I received $13,400 for a 3.5 year old car with 87,000km on it. I added $7,800 and got a new one (a few options added).

BTW- Bandit, was that 1996 Civic one of the best cars you ever had? The 1992 Civic was my first car. I was one of the first people in Canada to have a 1992 Civic in September of 1991. The car turned heads where ever it went because all the other cars were square like the Chrysler K car. The car would draw small crowds on the street and on campus. I got more puzzy with that car than the guys with the muscle cars. ( I was the guy the girls brought home to meet the folks ) The car had a double wishbone suspension like the formula 1 race cars. That car had a very comfortable ride and gave excellent road feel at the same time. I have had more expensive cars since, but none better than that Honda Civic.

http://world.honda.com/CIVIC/technology05/

http://www.youtube.com/watch?v=iqr5U78-e1w

 

[Bill the Pirate]

you should alos find out is you have replacement cost coverage. if the vehicle is under two years old and you have replacement coverage, they need to cover you for that cost.

 

[The Bandit]

BTW- Bandit, was that 1996 Civic one of the best cars you ever had? The 1992 Civic was my first car. I was one of the first people in Canada to have a 1992 Civic in September of 1991. The car turned heads where ever it went because all the other cars were square like the Chrysler K car. The car would draw small crowds on the street and on campus. I got more puzzy with that car than the guys with the muscle cars. ( I was the guy the girls brought home to meet the folks ) The car had a double wishbone suspension like the formula 1 race cars. That car had a very comfortable ride and gave excellent road feel at the same time. I have had more expensive cars since, but none better than that Honda Civic.

http://world.honda.com/CIVIC/technology05/

All my Honda's have been great....1980 Civic, 1987 Accord, 1996 Civic, and currently a 2000 Civic. My brother had a 1979 Civic, a 1985 CRX, and a 1996 Civic, and my mother has a 1992 Civic with only 49k on it. So we've had 8 in the family, I wouldn't buy anything else.

 

[spacyfoil]

Guys again thanks for your replies and help.

Now get this......we did NOT get a rental !

Even though we had the Comprehensive insurance package, but rental is covered ONLY if they decide it is NOT your fault.

Great TD insurance. So anyone with TD make sure what you are getting into.

For now they are dragging their feet in giving us a quote. Car was bought NEW, but unfortunately little over two years old. Still was almost brand new to us.

Once a quote comes, I'll let you guys know. So far with no rental, it seems they want us to get desperate.

 

[Stonesthrow]

Rental coverage is optional. Did you buy the coverage?

 

[Ceiling Cat]

There is a shortage of cars now because of the earth quake in Japan. Even non Japanese cars are short of parts. Get your estimates now while the prices are slightly and temporarily higher. The prices will drop a bit when things get back to normal. Use your estimates to bargain for a better settlement.