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

Sep 9, 2024
9:09:53am

OPINIONS I just love BYU so much

Or putting more money into repairs than the total cost of the car over a period of a few months.

Someone needs to teach this kid about the economics of owning old cars.

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OPINIONS

Previous username: sheriffcreg
Bio page: OPINIONS
Joined: Aug 25, 2011
Last login: Jan 6, 2025
Total posts: 23,244 (7,865 FO)

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Messages

Author

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

9/9/24 7:45am

RE: Was sure how to categorize this one…

Mexicougazul

9/9/24 7:48am

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

TheHop

9/9/24 7:54am

They are still part of the loss.

SolidBlue

9/9/24 7:56am

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

MacroCougar

9/9/24 7:58am

Not exactly true - Here’s what I did

kapcreations

9/9/24 8:08am

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

TheHop

9/9/24 8:02am

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

John Doe

9/9/24 8:10am

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

SolidBlue

9/9/24 8:15am

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

Jdoc

9/9/24 8:16am

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

SolidBlue

9/9/24 8:25am

He can try, but insurance will not

Jdoc

9/9/24 8:30am

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

ebv

9/9/24 8:50am

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

Jdoc

9/9/24 9:18am

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

oilman

9/9/24 9:58am

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

Jdoc

9/9/24 10:27am

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

Jay Rick

9/9/24 11:51am

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

Jdoc

9/9/24 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

9/9/24 9:41am

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

Jay Rick

9/9/24 8:06am

That’s not a really low offer.

Superkid

9/9/24 7:57am

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

cougarfann888

9/9/24 8:00am

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

Skeptical Optimist

9/9/24 8:01am

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

valcorger

9/9/24 8:03am

Also, why would you need a complete break overhaul?

TheHop

9/9/24 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

9/9/24 8:21am

F-250

SolidBlue

9/9/24 8:16am

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

valcorger

9/9/24 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

9/9/24 9:57am

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

valcorger

9/9/24 10:52am

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

Ferb

9/9/24 8:04am

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

KYU

9/9/24 8:21am

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

JarJarBeeps

9/9/24 8:25am

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

SolidBlue

9/9/24 8:30am

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

JarJarBeeps

9/9/24 8:34am

Wait, if you haven’t checked the market and KBB, how could you possibly know

Superkid

9/9/24 8:48am

I was including the total investment- in the past I’ve had a totaled truck. The insurance covered all my recent repairs

SolidBlue

9/9/24 9:35am

That sounds like an insurance company that is very open to insurance fraud.

Superkid

9/9/24 9:40am

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

ebv

9/9/24 8:52am

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

David Lo Pan

9/9/24 8:56am

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

Mtbcoug

9/9/24 8:53am

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

OPINIONS

9/9/24 9:09am

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

Thrill

9/9/24 9:49am

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

Thrill

9/9/24 9:51am

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

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