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 Posted: Fri Feb 29, 2008 4:08 pm Post subject: Would my car be totaled? What are the next steps? |
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Okay so on Tuesday a tree fell on my husbands Durango. He is in Iraq so i am stuck dealing with this. The tree was on my landlords property and it was rotten. Needless to say his insurance company is going to pay for it. Here is my deal. We drive a 2000 Dodge Durango. The Kelley Blue Book Value is $8,000. I still owe $5,000. The adjuster has already said the visible damge will be $4000-$5000 and we havent looked under the hood yet. So I was told by a few people that because the damage is 50% or higher than the value then they might total it. Is this true? And in this situation with me still owing money how would I come out good. Do they just pay the vehicle off or will give me the value of the car so I would be able to have some money left to go put a down payment on a new car? Should I be glad it might be totaled or not? i am having mixed feelings. Can someone tell me the steps that are going to be taken. I am so lost . I know nothing about cars. My poor husband is freaking out because he knows I know nothing and is afraid they are going to take advantage of me. Please help!!!
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Lost!
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| Posted: Fri Feb 29, 2008 5:19 pm Post subject: |
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Carrier will usually not consider a vehicle a total loss until the repair cost gets to about 75% or 80% of it's value (certainly not 50%).
If the vehicle is a total loss, the carrier will pay up to the value to the lien holder and any remaining amount will be paid to you (tax and some other charges are also payable). They will take the vehicle.
If the vehicle is not drivable in it's current condition (and I doubt it is), ask to be paid loss of use from the date of the damage. You don't need to have incurred a rental expense, you are still entitled to a loss of use payment (probably $10-$15/day if you don't get a rental). |
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tcope
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| Posted: Sat Mar 01, 2008 5:39 am Post subject: |
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Its somewhat difficult to tell you right-away whether the insurer will total your car or not without taking a look to it. But certainly they are not going to write it off if the damages only cross 50% of the value of the car. Most likely they will pay for its fixing. But again its just my assumption. Good luck!
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Welda Barkman
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| Posted: Sat Mar 01, 2008 5:44 am Post subject: |
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Hey Lost, you haven't mentioned whether you have a Gap insurance or not. If the insurer's check bears an amount which is less than what you owe currently, the gap insurance will then cover the rest. Find it out from your lien holder, atleast then you don't have to worry about paying the excess amount out-of-pocket.
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lonely-woodpecker
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| Posted: Sun Mar 02, 2008 1:55 am Post subject: |
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| Quote: | | We drive a 2000 Dodge Durango. The Kelley Blue Book Value is $8,000. I still owe $5,000. |
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tcope
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| Posted: Sun Mar 02, 2008 2:42 pm Post subject: |
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| Quote: | | If the vehicle is not drivable in it's current condition (and I doubt it is), ask to be paid loss of use from the date of the damage. You don't need to have incurred a rental expense, you are still entitled to a loss of use payment (probably $10-$15/day if you don't get a rental). |
Tcope, this must be state dependent. In my state unless she has rental coverage there would be NO loss of use whatsoever, (unless a total vehicle theft occurs)...and if there is rental then there would need that charge to be incurred (it's rental reimbursement)...Just didn't want the OP to take a firm stand, and this not be correct for her state. Certainly ask for it! 
Let us know if we can be of further assistance don't hesitate to ask anything at all and we'll do our best to help. Sounds like you owe less than the value so you should be fine....
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Lori
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| Posted: Thu Mar 06, 2008 10:36 pm Post subject: |
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| Quote: | | He is in Iraq so i am stuck dealing with this. The tree was on my landlords property and it was rotten. Needless to say his insurance company is going to pay for it. Here is my deal. |
| Quote: | | Tcope, this must be state dependent. In my state unless she has rental coverage there would be NO loss of use whatsoever, (unless a total vehicle theft occurs)...and if there is rental then there would need that charge to be incurred (it's rental reimbursement)... |
I'd agree is this were a 1st party claim but I took the OP's post to say that the landlords liability insurance was addressing her claim. |
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tcope
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| Posted: Fri Mar 07, 2008 11:31 am Post subject: |
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| Quote: | | but I took the OP's post to say that the landlords liability insurance was addressing her claim. |
 geeeeeeze i scare myself sometimes...i totally missed it was third party...thanks.....
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Lori
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| Posted: Sat Mar 08, 2008 7:40 am Post subject: |
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Now I think it's _your_ turn to get some sleep this week.  |
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tcope
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| Posted: Sat Mar 08, 2008 2:21 pm Post subject: |
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| Quote: | | Now I think it's _your_ turn to get some sleep this week. |
that would be sweeeeeeeeeeeet, tell that 10 month old grandson that I keep after my 'real' job (while his mama works) that would you?  
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"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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Lori
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