by the_beautifull » Wed Nov 10, 2010 07:19 am
i filed a claim on my car because someone had keyed it... my insurance said my deductible is $950... after doing the estimate they send me a check for $330 made payable to ME... i dont have the money to fix my car right now... can i cash out and use the money to fix it my self or find a cheaper way or do i have to take my car in to the shop for repairs.?? help it expires in 60 days...
Posted: Wed Nov 10, 2010 04:25 pm Post Subject:
The check is yours to do with as you please.
Does anyone else find a $950 deductible to be more than just a little ODD?
$0, $250, $500, and $1000 are common. In more than 40 years of auto insurance experience as an insured or an agent, I have NEVER seen a $950 deductible.
Posted: Wed Nov 10, 2010 05:08 pm Post Subject:
I have a feeling that the $950 was the deductible and depreciation combined. I've never heard of a $950 deductible in my entire career. Betcha' it's either a $500 deductible with $450 depreciation or $250 deduct with $750 depreciation. Remember, cars are settled on an ACV basis, even the paint if it was seriously deteriorated.
InsTeacher 8)
Posted: Thu Nov 11, 2010 05:04 am Post Subject:
the $950 was the deductible and depreciation combined.
Good point.
Go Ducks!!
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