2007 Car totaled. Please Help?

Hey ya'll first off I'd like to thank all of you for even looking at this. Okay, so I bought a brand new 2007 Mazda3. I traded in my 2004 4Runner for $17,500 off the sticker value for the Mazda which was $24,000.

I drove it for about 2 months accumulating around 1600 miles on it. I totaled it. Now my question is for all the people who dealt with insurance companies after a loss like this. How do you talk and look like you know what you're talking about to the aggressive insurance agent? I know they are going to try and crack down on me and rip me off. (I had full coverage on the car).

Info on the car:
2007 BLUE Mazda3
1600 miles on it, driven about 2 months
I owe roughly $10,000 on it.
Had Full Coverage on it, no gap insurance(didnt need it, only owed 10k).

Scott H

Your insurance company will pay you the fair market value of your vehicle, and nothing more. That is all they are required to do. It doesn't matter (to them) how much you owe on the vehicle. You are definitely in better shape than a lot of folks here. Your vehicle is worth more than you owe on it.

Sue

First, do NOT & I repeat do NOT go in there with the attitude that you are going to get ripped off. You can do a little research yourself about your car. Go to kbb.com or nada.com, put in all of the info on the car & be honest & it should give you an estimated actual cash value. The values in your area can be a little different. Also, check the newspaper, see what used cars like yours are going for (some dealers sell used current model year cars). You will only get actual cash value UNLESS you purchased replacement value (IF your company offers it, most don't). You will receive the actual cash value minus your deductible.
I am assuming you reported the claim to your company. Then, (the agent doesn't handle this part) the claim adjuster will call you to discuss the accident. Once you have submitted all the paperwork necessary, the company will offer you a payout on the car. WAIT until they do this because I have had people be VERY happy that the company offered them MORE than they expected. If they had gone to the company with an amount, they would have only gotten the amount they wanted...If it is close to what you found out was the value, you may ask for a little more (but don't get greedy!) & they may offer you a little more. Remember, any payout on the car will be minus your deductible so if you have a $1,000 collision deductible, they will subtract that from your payout. Good luck to you.

Mike H

you should get the money out of it. check kelley blue book for a value price.

UCANTCME

I SEE NO PROBLEM AT ALL, YOUR VEHICLE WILL BE PAID OFF, YOU WILL MAKE SOME MONEY LESS THE DEDUCTIBLE.

AS FOR THE AGENT THAT YOU ARE DEALING WITH, IF HE OR SHE DOES NOT WHAT TO WORK WITH YOU, EITHER ASK TO SPEAK TO HIS OR HER MANAGER OR IF IT REALLY GETS OUT OF HAND YOU CAN ALWAYS CALL OR WRITE TO YOUR LOCAL STATE INSURANCE BOARD, YOUR INSURANCE COMPANY WILL HAVE TO ANSWER THEM BACK,(YOU MIGHT WHAT TO MENTION THIS TO THEM AS WELL).

vtx.1800retro

we had one totaled that was only 4 days old a few years ago. We got the full price of the car that i had paid, minus the deductible of my policy $500. I did have to make a call or 2 to get things rolling though. That was with Nationwide Ins.
Good luck.

tony b

hi .... dont tell them you only owe $10,000 you need the full amount to replace the car.. you have full coverage they should give you the amount to replace. Usually if the car is over 6months they dont replace.
However, they will try to give you a lower amount, dont accept it. Keep telling them you payed $24,000 .. it doesnt matter about gap insurance.. you payed insurance on the full value of the Veh. thats $24,000 your only problme is that that you should get the full amount but... if it was your fault then they may drag their feet.

Chrys

How old are you ??? if you're under 21 they're gonna try and stick you with no insurance ( it's all your fault, we don't owe you money, etc).
Take your Dad with you when you talk to them.
If you're over 21...then talk like an adult. Reason with them...you bought the car. Had an accident and now you need a new one.
(was there anyone else involved in the accident ??? if there is, they will go after THEIR insurance first...and you need to make sure you get all your money.) You might want to consult a lawyer...also..your insurance might cancel you after the 'one' accident...they aren't very forgiving these days.

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