by Guest » Fri Jul 30, 2010 05:48 pm
Hi, my car was stolen and involved in an accident. The police recovered the vehicle and my insurance co has determined it to be a total loss. Their settlement offer seems low. I'm having a list made of the repair work done to the car this year and there was no prior damage. Any advice going into a situation like this? Is the offer usually lower when there isn't another insurance company involved (other driver)?
Thanks in advance,
John
Thanks in advance,
John
Posted: Wed Aug 04, 2010 05:30 pm Post Subject:
But there are plenty of nice, clean, mid-mileage *Older* automobiles that get Totaled due to low resale value instead of severe structural damage.
FK makes an excellent point. Given the cost of new cars, and owing to their increasing durability, it's no longer uncommon for people to drive perfectly good vehicles with 200,000, even 300,000 miles on the odometer. Okay, so the paint is shot, and it could use some new upoholstery. ACV? About $1 . . . realistically, maybe $500 or $1000.
But a plastic bumper cover alone at retail prices is well over $1000, so total loss here we come.
Posted: Thu Aug 05, 2010 01:21 am Post Subject:
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I will be ordering an OEM front bumper cover for an 2007 Honda tomorrow morning...... Retail price ... a little under $300.oo. Total repair cost about 800.oo.
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