I was in an accident recently and my car was declared totaled.?

RAMIREZ W

Nice design, resourceful information,user-friendly layout should be a good solution to your questions.

MSAD

Allstate only owes the fair market value of your vehicle. They do not owe the amount of your note and they do not owe the cost of a new vehicle.

As far as the performance parts go - those are not covered under the policy. There is language in the policy that excludes them.

Also - performance parts do not increase the value of the car.

A car is not an investment. Many things that are done to cars are done because we like them. But they do not add back to the value of the car.

Amazingwoo

A friend of mine had a brand new car, she'd owned it for a week when someone shot out of a side road into her car, totally wrecking it.

Her insurance company refused point-blank to give her the full cost of the car - they deducted a LOT of money from the payout as it was no longer a "new" car.

Once they have factored in the age of your car, plus mileage, the insurance company come up with a settlement figure, often much lower than you expect. Plus, any modifications won't be paid for either as they base their prices on the standard car.

Hadj

no but you can buy back the frame for 100 bucks, and either start rebuilding or tear everything off and part it out

2hotty

in australia if u dont tell the insurance company that u have done mods to the car and they find out they might not pay up.so i dont no if i would be telling them that

yamalol1

When you buy a car always buy GAP insurance. This is an item that you add when you are financing the car. What Gap insurance dose is cover the rest of the balance in-case the car is worth less then the amount owed.

gail v

A lot of dealers now offer what is called "gap insurance". This is to cover the rest of the loan that the insurance doesn't pay. No, they won't pay off the car, only the blue book value. I know when ever I have to call my insurance for anything, they always ask me if I have added anything on to my car. A lot of people get short changed, so they came up with another type of insurance to pay to cover what our original insurance doesn't pay. Just make sure if they totaled your car, and it is salvageable, try to keep your car, I wouldn't let them take it if it is avoidable. You might be able to get something for those performance parts.

entidtil

They only pay "fair market value". What you might owe on the car has Absolutely nothing to do with its fair market value. The performance parts would have to have been added to your policy and paid extra for to be covered

torpengkute

Once you are in an
accident, the insurance company must inspect the vehicle and determine whether the damage was substantial enough to declare a complete loss. Most insurance companies will want to inspect the vehicles themselves. In most accidents, insurance companies have approved body shops write estimates and they eventually issue payment based on that estimate. However, when there is a potential for a car total loss, most insurance companies want their insurance adjuster to inspect the vehicle.

The reason for this is the conflict of interest that arises
from the arrangement between the insurance company and the body shop. Body shops
are in the business of fixing cars. They have a vested interest in quoting the
repairs so the car can be fixed and not declare it a car total loss.

â™¥ Uwish â™¥

The insurance company does not pay off your loan. They are required to pay the actual cash value of your car.

If you got a bad deal on financing and your loan is currently more than what your car is worth, then you are responsible for what is left on the loan.

The insurance also only covers factory installed equipment on the vehicle. So if you have aftermarket performance parts, you would have had to purchase additional coverage for those items. Otherwise, they will not be covered.

Chaz

They only pay "blue-book" value. Unless you have "full coverage" you are hosed my friend. Did not your lender insist on full coverage? Usually they do.

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