My car was a total loss, my insurance wants to go for a settlement? ?

Luna & Lawnboy

The insurance industry is heavily regulated. You can expect a fair settlement pursuant to the terms of your contract with them. You will not get the blue book. You will get the Actual Cash Value for your vehicle based on the current mileage and condition of the vehicle.

Go to Nada.com and use the lowest value. This is roughly what you can expect.

mbrcatz

You can get a rough estimate, using the www.kbb.com private party resale value. They don't pay retail.

It's not what you paid for it that counts - it's what the car is worth now.

Assuming it didn't have a rebuilt title, the value is going to be around $11,000. Don't forget to subtract out your deductible.

**Bob's wrong. You don't get "replacement value". You get "actual cash value", unless your policy says otherwise - and it's pretty rare that it says otherwise.**

CwboyBill

You need to check with NADA using current mileage, model and options. You will be offered the actual cash value (ACV) of the car.

LaChismosaFamosa

The insurance company researches to provide you with the actual cash value of the vehicle before the accident. You do not get actual replacement value. Of course you know a Bluebook value can depend on whethere you are selling a car directly or selling it to a dealer and what part of the country you are selling it. If your vehicle has standard accessories than it is easy to research and the insurance company will offer you what it is fair, they do not have much leeway at all. The only people I see that really have a hard time with insurance companies are people that buy a $12,000 vehicle and then add another $12,000 in rims, sound systems, funky paint jobs, and all other sorts of stupid crap, they think because they invested a lot of money into the vehicle that it is really worth more when no one else would want their jacked up ghetto mobile. If your vehicle just has standard accessories and is a common vehicle, they are going to pretty much pull numbers from a computer program and it should be fair.

gotaquestionneedananswerXD

I think it was that when the insurance company is going to pay you for your car, they will pay what your car costs currently. so i think you could look it up on kelley blue book to see what your car is valued at.

Ed K

F: It's been my experience that insurance adjusters have some amount of leeway in what they offer you. You should be armed with the knowledge of what your car (based on your mileage) is worth on the open market. Call around to some auto dealerships and ask. Find out what the local blue book value is. If the adjuster offers you something insulting, let him know. Whatever you do, don't be so stuck on a price that you won't budge. There will be a "meeting of the minds" where you both come to a compromise that you're both happy with. That, or you take 'em to court.
Hope this helps....

Bob R

You should be paid the amount that it would cost for your to purchase another 2005 Honda Accord Coupe in the same condition with the same mileage. (less your deductible)

So look at their offer and see if you can actually buy another 2005 Honda Accord for that amount including taxes, title, dealer prep, etc.

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