Total lost car INSURANCE?
I own a 1997 dodge intrepid std 4 dr sedan 6cyl gasoline 3.3 liter 4 speed in fair conditions cd player no rust with 197,242 miles. My car was was in a hail and tornado damage where the hood has a dent and the driver and passanger side have dent and the trunk. I have full coverage insurance and they telling me that my car was total last i love my car and i spent alot of money fixing it and it drives great no problem. So I was trying to get some help from some one that could tell me how much is my car worth so they wont give me less money and if they offer me less what could I do. I am not trying to bew greedy but i do love my car and spent alot of money on it. I would rather get it fix . PLEASEEEEEEEEEEEEEEE HELP ME
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8 comments
mbrcatz on June 30, 2010 at 11:53 pm
According to http://www.kbb.com, I’m coming up with a value about $950.
If all the damage is only cosmetic, what to do, is tell them you’re going to keep the car, and they’ll subtract, maybe $500 from that (salvage value), maybe you can negotiate a bit less. They’ll write you a check for $450, and you’ll get a salvage value title for your car. You won’t be able to keep "full coverage" on it any more, but you’d NEVER be able to replace it for a drivable car that passes inspection, for $500.
It’s definately totalled, though – you’d never be able to fix all that body damage, for TWICE what the car is worth. But heck, break the front and back window, and it’s totalled just from glass damage.
That’s what happens with old cars. Sorry.
Ryan M on June 30, 2010 at 11:53 pm
Look it up in the Kelly Blue Book. With a car that old and that many miles, they are most likely just going to give you the blue book value and not the entire amount to fix the car. Also, your deductible will have a HUGE impact on any amount you receive.
Big Tom on June 30, 2010 at 11:53 pm
Cost to fix is greater than market value for the car. I understand where you are coming from but the insurance company is a business and they don’t care about what you want. Sorry to be blunt. What I would do is try to get them to total the car to get the money and then buy it for cheap and then keep driving it with all the dents. A lot of the dents might come out in the sun.
mtwaites on June 30, 2010 at 11:53 pm
A lot of insurance companies generally look up in classified ads to see what the going market rate is for the car that has been damaged. It is possible that they found that the damage would surpass the amount that the car was worth. You should also check the insurance policies carefully in your area. I know that there are areas where floods are known to be, sometimes the insurance companies will not cover for flood or water damage to a car. If you live in an area known for Tornadoes, that is why they might not be covering you for that particular problem, as if they covered you for that problem they would have to cover everyone, and that would put them into an issue. For those areas that are known to have tornadoes, hurricanes, floods, wildfires, landslides etc., may take that portion out of the insurance clause. If you care about the car, try thinking of a place that you might be able to go that has someone who fixes cars as a hobby, and you might be able to get some help that way.
Good luck, but that is probably the best explanation that I could give you.
RetiredDebtFree on June 30, 2010 at 11:53 pm
They are totaling your car because it is 13 years old and very high miles, so is worth less than the cost to repair the body damage. The insurance company is not going to pay $3000 for repairs on a car that is only worth $2500, for example. This is the risk you take when you spend a lot of money on an old car.
You might negotiate with them to keep the car and the insurance payment, but swap the title to a salvaged title, so no future claims for damage/loss to the vehicle will be accepted.
Tornado and hail. Sounds like an Oklahoma story. Sorry for your loss … I know people do put their heart into their cars.
Doctor Deth on June 30, 2010 at 11:53 pm
no insurance company is going to pay more to fix it than it is worth and a 13 yr old with 200k miles on it is not worth much – they totaled a 5 yr old car of mine that wasn’t even paid off yet, because it would have cost more to fix than it was worth – I had about a yr left to pay on it – I netted about $1000 after paying the loan balance, but I had planned on keeping it for a couple more yrs and then giving it to my son when he was old enough
? on June 30, 2010 at 11:53 pm
That’s the insurance company’s call. They make a judgment based on the book value of the car vs. the anticipated repairs costs. A 1997 Dodge with 200K miles on it isn’t worth much. If you want to keep it that much, then decline the insurance settlement and fix it yourself.
StephenWeinstein on June 30, 2010 at 11:53 pm
If you accept any money from the insurance company for damage to a vehicle that meets the definition of a total loss, then it will receive a "salvage" title, which will make it difficult to sell in the future; you may wish to consider taking no money. If they pay you what the car was worth, then they get the car. If you want to keep the vehicle after they pay, then you have to buy it back for what it is worth with the damage, so you only get the difference between the pre-damage value and the damaged value.
Also, you should not keep full coverage on a vehicle that is 13 years old and has nearly 200,000 miles. The most that the insurance company will pay for any damage to a vehicle that old, total loss or otherwise, is less than the full coverage will cost you over the long term. (There are a few exceptions for special policies for classic cars that are only used for exhibiting and not for normal driving.)