Lady hit my parked car, now her insurance is low-balling me.

by mre0609 » Wed Aug 12, 2009 05:45 pm

I have a 93 Honda Accord LX. It was parked in a parking lot and a lady runs a stop sign and plows into another car, which plows into mine. My car is a total loss. Her insurance (Nationwide) has offered me $879. I feel that is a lowball offer. They argued with me that the car had existing body damage and rust so that took a lot from the value. Yes, it had a few dents and rust spots (where Honda's normally rust above the wheels), but as far as running...the car ran like it was brand new. Also the car had 330000 miles on the body, but only 100000 on the motor, with new tires on it. There is NO WAY I'm going to be able to replace this car for $879. I won't even been able to get a beater for $879. What should I do?
I have contacted my insurance (Geico) and explained to them, so will they be able to get me a better offer?
I honestly feel like Nationwide should be at fault, b/c the lady who is at has had 2 total loss accidents in 2 months. Why would they even insure her?

Total Comments: 3

Posted: Wed Aug 12, 2009 08:36 pm Post Subject:

First of all they are valueing your vehicle, as pretty much ''basic transportation'" Let's face it...it is a 16-17 year old vehicle..that shows over 300k..You're admiting to 'some' dents, dings and rust..(No offense really), owners tend to down play this damage, when selling (duh :wink: ) and upplay it when buying...the fact of the matter is unless you can prove that your vehicle is worth more, this is all they owe you.

You've made a good move by turning it in to your carrier to see if their evaluation will come out higher. Go with the higher ACV (actual cash value). If it's your carrier they will subrogate the at fault party for what they paid out as well as your deductible.

I honestly feel like Nationwide should be at fault

Sounds like they are and have accepted liability you just don't like their offer is all..

Why would they even insure her?

Because she pays her premiums? And aren't you glad they do? Other wise you'd be using your carrier without another option!

Posted: Wed Aug 12, 2009 11:12 pm Post Subject:

You've made a good move by turning it in to your carrier to see if their evaluation will come out higher.

I don't think the OP has collision coverage (on a 1993 Honda with 300,000 miles)... I think the OP just explained the low offer to the GEICO adjuster.

OP, your carrier won't be able to do much more then make a call and see what information the other carrier is considering in their offer. Your carrier can't act as your legal agent.

Obtain the other carriers evaluation and make sure that it's correct. Make sure it considers the engine with $100,000 miles... though it may not increase the value as it's really just keeping the vehicle in good working order.

The thing you need to know is if this carrier is deducting the full repair cost for all of the damage. They should not be doing this! the value of the vehicle is based on a 15 year old vehicle and the dents and dings that go along with it. If a person had every dent and ding repaired it's not going to add much, if any, value to the vehicle... so why do the opposite and deduct it.

At the end of the day I think $900 for a 15 year old vehicle with 100,000 miles on the engine sounds about right.

Posted: Thu Aug 13, 2009 02:18 am Post Subject: insurance

Well............(of course, I'm NOT an expert..) but, the offer you received DOES sound fair. I know you may be thinking "I can't find ANYTHING for that amount of money,",....but, if you REALLY look, there are some 'go od' deals out there. Right now, ALOT of dealerships are droping prices on good, used cars. Remember.....they have that 'money for your clunker' thing, going on, too (even though, I think the money, for the 'clunker' program good have had better use somewhere esle..). After my accident, it took a while for me to find another car. It can be done. Time consuming, ..I DO understand that part, but,..it can be done. :lol:

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