by venkat2118 » Sun May 31, 2009 10:46 pm
Hi,
I have a 2003 camry, 90k miles which has before been in a collision and repaired. So I wanted to know if the car is in a total loss in future (God forbid) what would be its ACV that I can claim? Would the ACV be reduced becoz its already been in a collision? The kbb good value for this car is $6800 - Is this the ACV? I wanted to know this in order to decide whether to take collision and comprehensive insurance on the car. Any help regarding this would be highly appreciated. Thanks.
I have a 2003 camry, 90k miles which has before been in a collision and repaired. So I wanted to know if the car is in a total loss in future (God forbid) what would be its ACV that I can claim? Would the ACV be reduced becoz its already been in a collision? The kbb good value for this car is $6800 - Is this the ACV? I wanted to know this in order to decide whether to take collision and comprehensive insurance on the car. Any help regarding this would be highly appreciated. Thanks.
Posted: Thu Jun 04, 2009 08:11 pm Post Subject:
Thanks for the suggestions everyone. This community is really very helpful.
Jeremy: I have not checked with the insurer reg why the rates are high (I pay $490 right now for 6 mo - is that high?) but will now. I have checked my policy and I think the coverage is just right for my case. I am insured with Geico currently and have checked several insurance companies and find Geico to be the best. If you have any suggestions I can try with that company.
Steven: I have not talked with Geico regarding the ACV as they may think I have wrong intentions in mind. :( So only I choose this forum for the answer.
Thank you everyone again.
Posted: Fri Jun 05, 2009 04:53 am Post Subject:
Well Venkat, the premium would depend upon several factors, like- your age, years of experience as driver, driving record, mileage that you drive, locality/state, coverage; since we have no information about these factors its hard to say whether or not you are paying the right price. But Geico is known to offer good rates around.
However, I'd suggest you to do a bit of research before signing up with them. Check with the state insurance department.
~Jeremy
Posted: Fri Jun 05, 2009 06:37 am Post Subject:
Hi Venkat2118,
I have not talked with Geico regarding the ACV as they may think I have wrong intentions in mind.
Your car is not a total loss as yet. So I don't think it would be a problem if you inquire about anything with their rep.
Steven
Posted: Fri Jun 05, 2009 11:26 am Post Subject:
I don't know that he would be able to talk with an adjuster and get that ACV anyway...and personally I wouldn't want to...be just your luck to get an adjuster with your companys opinion re: your vehicles ACV, then bam 30 days later, after you've added coll/comp that you have never carried, it's stolen, burned whatever..HUGE red flag..
Posted: Fri Jun 05, 2009 11:46 pm Post Subject:
Jeremy - I don't see anything useful on South Carolina department of insurance website.
Right Lori - that is what I was thinking and so do not want to create trouble for later.
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