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Old 05-16-2001, 08:20 AM   #1
Mizen
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Member#: 1483
Join Date: May 2000
Location: Los Angeles, CA.
Vehicle:
'92 240sx fastback
dark red

Unhappy My baby finally left me... Car Totalled, what should I expect from the insurance?

Well... the insurance declared my MY00 2.5 RS a total loss yesterday. Ugh!! For those of you that didn't see the original thread - you can check out pics in my member section.

Now, I just have to wait for the insurance company to finish their market study and get me the figure that they will be making the check out for.

Does anyone have any inputs on this? I'm not sure what figure they are going to come up with - I think the B.B. value on my car is in the 17.5 range. Does anyone have any experience with having a car totalled?

Thanks,
Matt

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Old 05-16-2001, 08:29 AM   #2
Poseidon
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Member#: 4864
Join Date: Mar 2001
Location: North Bend, WA USA
Vehicle:
2004 WRX
Silver

Post

They don't give you blue-book value. They give you fair market value. They check sales records for your area and come up with a value based on what similar cars have sold for recently. They may also take into account the condition of your car (at least, the parts that aren't damaged from the accident). For instance, good paint, clean interior, and low tire wear all add to the value. Then they will give you a summary, and if you see anything you disagree with, you can haggle a bit. Also, depending on your policy, you may be entitled to loss of use payments (unless you already used that money for a rental car). Good luck!

Jordan
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Old 05-16-2001, 08:32 AM   #3
Digital_Boy
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Ask them how much they'll charge you for the wrecked RS. If it's a couple of $K, then you may be able to make a decent chunk towards a new car by parting the RS out here on the I Club.
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Old 05-16-2001, 08:32 AM   #4
Subie Gal
GC84Ever
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Member#: 301
Join Date: Sep 1999
Chapter/Region: NWIC
Location: WA
Vehicle:
1970 FF-1 & '70 Van
02 WRX/01 RS

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indeed.. they give you what it would cost you to replace it.. market value...

what i did...
and you should too...
do research in your area... phone local dealers get a price quote for the make/model of your car....

they also base it on the condition it was in... and how many miles are on the odo...

my 99GT... w/60k... i got 22k for it...

do your research! know what it's worth!
and dont take the first offer unless it's really really good...

j. www.subiegal.com
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Old 05-16-2001, 08:49 AM   #5
Poseidon
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Location: North Bend, WA USA
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2004 WRX
Silver

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Hey J... I never thought about it before, but maybe this is one benefit to living near Melody's. When my '99 Outback Sport was totaled, the insurance company gave me $18,000. That was about $700 more than I was expecting. Granted, it was in pristine condition at the time of the accident, but I can't help but wonder if the high prices Melody's has had in the past affected the market study...

Jordan
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Old 05-16-2001, 09:00 AM   #6
Mayhew333
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Join Date: May 2000
Location: langhorne,pa,19047
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im in the same situation as you, my car just got totaled and im waiting to get my check back so i can buy mikes 99 turbo, totalling your baby is the worst feeling in the world, besides maybe a broken collar bone.
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Old 05-16-2001, 09:02 AM   #7
ottawars
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Location: Ottawa
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Please tell me you have a two year no depreciation clause in your insurance. If so, they will repay the total price of the car when it was new.
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Old 05-16-2001, 09:26 AM   #8
AllWheelsDriven
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Member#: 1737
Join Date: Jun 2000
Chapter/Region: NWIC
Location: 3rd Generation Seattle Local
Vehicle:
2005 BMW zhp
www.vispoint.com

Arrow

I used to have a pristine 90 Celica AllTrac turbo with about 155k miles. A very rare and special car. My GF at the time totalled it while I was away on a business trip.

Farmers offered me $6000 for the loss. I knew it was worth more as the car was so rare and in good condition. My adjuster said if i could show that they sell for more on the market he would see what he could do.

So I went on the net and found the three cars that were for sale in the entire country and faxed over the ads to him. Based on the average prices of those cars, I got $9500 instead of $6000

Mike
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Old 05-16-2001, 10:02 AM   #9
Mizen
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'92 240sx fastback
dark red

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Excellent, thanks for the advice everyone - I'm going to have to call some dealers, check the papers etc... My car was in excellent exterior and mechanical shape before the accident.

Mayhew333 - dude, I'll race you to Mike's car... J/K - I'm not gonna go for another Impeza probably, I may jump to the Nissan camp for a bit of fun with an old 240sx...

I doubt I can afford another Impreza - buying, tuning, insuring etc... but we'll see I'll be sticking around here regardless however... everyone is so cool.

ottawars - I had no idea about this clause, I'm gonna have to read my insurance papers - I somehow doubt I have it, knowing my luck...

I SOOOOO miss my car!!

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Old 05-16-2001, 10:04 AM   #10
Mizen
Scooby Specialist
 
Member#: 1483
Join Date: May 2000
Location: Los Angeles, CA.
Vehicle:
'92 240sx fastback
dark red

Post

Excellent, thanks for the advice everyone - I'm going to have to call some dealers, check the papers etc... My car was in excellent exterior and mechanical shape before the accident.

Mayhew333 - dude, I'll race you to Mike's car... J/K - I'm not gonna go for another Impeza probably, I may jump to the Nissan camp for a bit of fun with an old 240sx...

I doubt I can afford another Impreza - buying, tuning, insuring etc... but we'll see I'll be sticking around here regardless however... everyone is so cool.

ottawars - I had no idea about this clause, I'm gonna have to read my insurance papers - I somehow doubt I have it, knowing my luck...

I SOOOOO miss my car!!

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