by elvispretze1 » Sun May 17, 2009 06:45 pm
fender bender 2002 Acura. Airbags didn't even deploy. Believe insurance wants to write off just based on high miles, but car is still great runner and I just want to fix.
Posted: Wed May 20, 2009 11:29 am Post Subject:
Totaled doesn't make a car un-repairable. Only it doesn't worth in the eye of the insurer to pay for its repair. Correct me if I’m wrong?
You are correct Simon, anything CAN be repaired...but doesn't make economic sense to do so...see my prior post re: reasons vehicles total..Aren't the insured free to chose the bodyshop to fix their vehicles?
Oh course they are...there's more to that story than what's posted... :wink: I'm absolutely sure... :wink:a salvaged vehicle is a vehicle that is purchased from either the insuranc company or a junk yard and fixed up to be resold.
or from the original owner...a salvage titled vehicle is a vehicle that has been deemed a total loss...CA has a couple of other designations, i think one is 'unrepairable' which is different that a totaled or sal. titled vehicle..Posted: Wed May 20, 2009 07:07 pm Post Subject:
Lori,
I am lic in the State of CA and the ACV= replacement cost less deprciation
Posted: Wed May 20, 2009 08:04 pm Post Subject:
It's semantics as it's the same thing. It's just that when it comes to a vehicle no one takes the price of a new vehicle and subtracts depreciation to determine the value. A sampling of the selling prices of similar vehicles is taken. But in theory it should be the same amount.
New - depreciation = ACV would typically be used for non-vehicle property losses. As in these losses the only option is to replace with new.
Posted: Wed May 20, 2009 10:21 pm Post Subject:
As Todd said it is semantics (kinda-but really is it)...unless maybe 007 you have a vehicle depreciation table.. :?
Lori,
I am lic in the State of CA and the ACV= replacement cost less deprciation
As I said 007 Directly from the State of CA dept of Ins website...
CA defines the ACV as follows:Quote:
What Is Actual Cash Value (ACV)?
A. Actual Cash Value - Unless otherwise defined in the policy, actual cash value in California means fair market value. The fair market value of an item is the dollar amount that a knowledgeable buyer (under no unusual pressure) is willing to pay, and a knowledgeable seller (under no unusual
pressure) is willing to accept.
You hear ''your'' definition more toward personal property losses (if no replacement cost endorsement)
Posted: Wed May 20, 2009 10:43 pm Post Subject:
ahhh i see said the blind man ty
Posted: Thu May 21, 2009 01:28 am Post Subject:
ahhh i see said the blind man ty
huh? the ''ty'' is what i don't get :?Posted: Mon May 21, 2012 02:39 pm Post Subject: XF Jaguar
Over a month ago I had an accident in my car. We rang our insurance company. They advised us to contact their recovery contractor who towed the car to the insurance repair center. The car has been at the repair center for over a month. Every time I contact the repair center they are very nice but they are either ordering a part or stripping the car down further or the car has to go to the main dealer. I have just contacted them again and the car is pretty much inthe same state as a fortnight ago. My Question is how long can the repair center keep fobbing me off whilst my car depreciates in value and is there any action I can take to speed things up ?
Posted: Tue May 22, 2012 12:47 pm Post Subject:
whilst my car depreciates in value
Why do you think this is happening? Just the fact that the vehicle is getting one day older one day at a time?
is there any action I can take to speed things up ?
There is a saying that applies to many business operations that you may wish to consider:
"You can get it good or you can get it fast, but you cannot get it good and fast."
Do you want your vehicle repaired PROPERLY or do you just want it repaired quickly? Anyone can repair things quickly and cosmetically. Proper repairs may take longer, especially if necessary parts have to be ordered. Newer model year vehicles may actually be more difficult to repair because parts availability can be limited (the parts are being consumed by vehicles being manufactured for sale).
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