Wasn’t sure how to categorize this one… son was in a car accident. Insurance carrier is giving a really low offer

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Sep 9, 2024
7:45:49am

SolidBlue All-American

Wasn’t sure how to categorize this one… son was in a car accident. Insurance carrier is giving a really low offer

Son buys truck for $4500 in Dec. Truck has some issues.

Pays for torque converter to be completely redone July. $3000
Pays for new tires August. $1150
Pays for complete breaking system - hydraulic, disks, calipers, pads everything $2700 August

Other guy was at fault… ran a red light.

The at fault insurance totals vehicle and offers $5645

This message has been modified

Originally posted on Sep 9, 2024 at 7:45:49am

Message modified by SolidBlue on Sep 9, 2024 at 7:51:17am

Message modified by SolidBlue on Sep 9, 2024 at 7:51:51am

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SolidBlue

Previous username: The Seer
Bio page: SolidBlue
Joined: Aug 27, 2011
Last login: Sep 19, 2024
Total posts: 2,072 (171 FO)

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Time

Wasn’t sure how to categorize this one… son was in a car accident. Insurance carrier is giving a really low offer

SolidBlue All-American

Sep 9, 7:45am

RE: Was sure how to categorize this one…

Sep 9, 7:48am

Seems fair. This is a good way for your son to learn that putting 5k into a lemon 5k car doesn’t make it a 10k car.

Sep 9, 7:53am

It was a work truck, with a CNG package that would save around $6000 a year in fuel.It was a good investment… until this

SolidBlue

Sep 9, 7:56am

Cars are not a good “investment” really ever.

Sep 9, 7:58am

I own 10 work trucks just like my sons. I’ve saved $50,000+ in fuel cost every year for 7 years. 1000 miles on a

SolidBlue

Sep 9, 8:12am

That doesn’t matter to an insurance company when placing a value on a car. Keep

Jdoc

Sep 9, 8:15am

Where do you live? CNG isn't saving me much if any money nowadays in Utah.

fulano

Sep 9, 8:26am

California CNG $2.25/gal vs $4.80+/gal

SolidBlue

Sep 9, 9:01am

That's not an investment. It's an expense regardless of how you minimized it.

ebv

Sep 9, 8:48am

That’s a funny way of thinking… If I buy a computer for my company and increases my productivity to the point

SolidBlue

Sep 9, 9:09am

It's still an expense.

ebv

Sep 9, 9:20am

It’s not an investment. It’s an expense to make the business more productive.

Sep 9, 9:26am

Sounds like a rational business decision, as long as the car survives long

russkiejedi

Sep 9, 8:59am

If you are driving those trucks that much to save that much money in fuel, then no, still not a good investment.

Sep 9, 9:13am

This! I make decent money using my computer, but the asset itself is an expense.

ebv

Sep 9, 9:21am

No, it's still not an investment

Sep 9, 9:31am

So your son gets $5645 for truck he paid $4500?

TheHop

Sep 9, 7:54am

They are still part of the loss.

SolidBlue

Sep 9, 7:56am

Insurance doesn't care about those things - they only care about the value of

MacroCougar

Sep 9, 7:58am

Not exactly true - Here’s what I did

Sep 9, 8:08am

You said he got a really low offer.....

TheHop

Sep 9, 8:02am

What something cost you and what it is worth are 2 different things.

John Doe

Sep 9, 8:10am

The at fault driver is responsible for your losses. His losses include the recent work on the vehicle

SolidBlue

Sep 9, 8:15am

Friend, that is not how the law works when valuing property damage.

Jdoc

Sep 9, 8:16am

Okay, this is actually what I wanted to talk about.

SolidBlue

Sep 9, 8:25am

He can try, but insurance will not

Jdoc

Sep 9, 8:30am

Nope. It's simply a question of what is it worth. If he can demonstrate that

ebv

Sep 9, 8:50am

I agree with you that is most likely what will happen in small claims, but

Jdoc

Sep 9, 9:18am

If he files in small claims courts without settling with the insurance first

oilman

Sep 9, 9:58am

Yes, his insurance company would have to defend him, but the only thing they

Jdoc

Sep 9, 10:27am

Why do you say that the fair market value of the car isn't covered by insurance?

Jay Rick

Sep 9, 11:51am

I didn't say that. Fair market is covered. The other losses he is claiming are

Jdoc

Sep 9, 12:04pm

Good luck getting an insurance company to agree with you. Their argument would be that they are not responsible for the

John Doe

Sep 9, 9:41am

Sure they do. You’re entitled to the market value of the car. Not the amount

Jay Rick

Sep 9, 8:06am

Say your neck hurts and you can probably get that number up to 10 grand real

cougarfann888

Sep 9, 8:00am

No insurance company is going to pay over market value because you paid for some

Skeptical Optimist

Sep 9, 8:01am

My first thought, what kind of torque converter is 3 grand? That’s complete trans rebuild $$.

valcorger

Sep 9, 8:03am

Also, why would you need a complete break overhaul?

TheHop

Sep 9, 8:05am

1997 - sat in a parking lot for 8 years unused. The hydraulic fluid gummed up. They flushed it 5 different times and it

SolidBlue

Sep 9, 8:21am

F-250

SolidBlue

Sep 9, 8:16am

Find a new repair shop. I’d recommend C&S Auto & Truck on Limonite in Jurupa Valley.

valcorger

Sep 9, 8:23am

It was more than just the torq cov. That was just the biggest part of the repair. But thank you for the referral.

SolidBlue

Sep 9, 9:57am

Talk to Sonny (owner) or Steve. Tell them Glenn sent you.

valcorger

Sep 9, 10:52am

The first offer from insurance is rarely serious. Time to negotiate.

Ferb

Sep 9, 8:04am

Unfortunately, those kind of repairs just don’t have much value

KYU

Sep 9, 8:21am

It depends. Parts and repairs don't add value. But

JarJarBeeps

Sep 9, 8:25am

No, haven’t checked. Would you just use KBB or do you know of another resource for market value?

SolidBlue

Sep 9, 8:30am

I'd peek at things like Facebook marketplace maybe. Asking price does not equal

JarJarBeeps

Sep 9, 8:34am

RE: No, haven’t checked. Would you just use KBB or do you know of another

ebv

Sep 9, 8:52am

At the end of the day, the best you can do is make your case for as high a

David Lo Pan

Sep 9, 8:56am

This ^^^. It doesn't matter how much he paid for it or how much he put into it.

Mtbcoug

Sep 9, 8:53am

Imagine paying comprehensive coverage on a car you paid $4500 for.

OPINIONS

Sep 9, 9:09am

You can push back by showing comps to replace it. An offer from the insurance

Thrill

Sep 9, 9:49am

The only way to significantly increase the insurance payout is to tell them your

Thrill

Sep 9, 9:51am

This thread is all over the place. Here’s the deal - there’s a difference betwee

Jay Rick

Sep 9, 1:56pm

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