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

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Sep 9, 2024
10:27:06am

Jdoc All-American

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

will cover is the fair market value of the truck. The other damages are not covered by insurance. It may be worth a shot to file a lawsuit to try and get the insurance company to increase their offer, but they most likely will never go above fair market value and he is going to spend time and resources in court.

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Jdoc

Bio page: Jdoc
Joined: Feb 8, 2018
Last login: Sep 19, 2024
Total posts: 11,045 (19 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

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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