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Just yesterday my car was hit in a parking lot. The driver lost
control and hit the car parked next to my car causing that parked
car to hit my car and then my parked car hit a third parked car.
The driver has insurance but was driving someone elses car.
Whose insurace is resposibile the driver of the car or the
owner of the car ?
I have already had one estimate of 3,100 dollars, but my car's
blue book retail value is 3,300. That means it's totaled.
Will they give me retail value or wholesale value ? Also, in
the last 2 years I have spent nearly 2000 dollars replacing wore
out parts, like the radiator and water pump, etc. I purchased this
car new in 1994 and do not beleive I can replace it for 3,300
closer to 4,500. Do I have any legal way to get the retail value of
the car plus the investment of 2,000 I have spent reconditioning the car.
--
javatek?@usa.com
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On Sat, 14 Feb 2004 17:44:32 -0600, "Redd" <javatek?@usa.com> wrote:
Just yesterday my car was hit in a parking lot. The driver lost
control and hit the car parked next to my car causing that parked
car to hit my car and then my parked car hit a third parked car.
The driver has insurance but was driving someone elses car.
Whose insurace is resposibile the driver of the car or the
owner of the car ?
I have already had one estimate of 3,100 dollars, but my car's
blue book retail value is 3,300. That means it's totaled.
Will they give me retail value or wholesale value ? Also, in
the last 2 years I have spent nearly 2000 dollars replacing wore
out parts, like the radiator and water pump, etc. I purchased this
car new in 1994 and do not beleive I can replace it for 3,300
closer to 4,500. Do I have any legal way to get the retail value of
the car plus the investment of 2,000 I have spent reconditioning the car.
NO
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Redd wrote:
Just yesterday my car was hit in a parking lot. The driver lost
control and hit the car parked next to my car causing that parked
car to hit my car and then my parked car hit a third parked car.
The driver has insurance but was driving someone elses car.
Whose insurace is resposibile the driver of the car or the
owner of the car ?
I have already had one estimate of 3,100 dollars, but my car's
blue book retail value is 3,300. That means it's totaled.
Will they give me retail value or wholesale value ? Also, in
the last 2 years I have spent nearly 2000 dollars replacing wore
out parts, like the radiator and water pump, etc. I purchased this
car new in 1994 and do not beleive I can replace it for 3,300
closer to 4,500. Do I have any legal way to get the retail value of
the car plus the investment of 2,000 I have spent reconditioning the car.
$3100 damage? Just how fast was this guy going at impact in a parking lot to
do that much damage?
How about the first car hit? Mangled beyond recognition?
If you're lucky you'll get most of the value of the car.
You will not get any additional money for restoration work done.
Anything more, you would have to sue the driver or owner of the striking
vehicle.
--
javatek?@usa.com
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Redd,
Why do you believe that the car is totaled? The figures that you provide
suggest that the car will be repaired so you can continue to enjoy your
radiator and water pump.
Good luck,
Dave M.
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"David Martel" <marte005@earthlink.net> wrote in message news:<xjPXb.4806$WW3.3037@newsread2.news.pas.earthlink.net>...
Redd,
Why do you believe that the car is totaled? The figures that you provide
suggest that the car will be repaired so you can continue to enjoy your
radiator and water pump.
Good luck,
Dave M.
Generally, a car is considered a constructive total when the cost to
repair exceeds 80-85% of the retail value of the car. The car is
totalled if the retail is $3300, and the estimate is $3100. The
carrier won't pay more to repair it than the car is worth, and they're
under no obligation to repair it at that cost.
To the OP:
The parts you've had to replace due to normal wear and tear are simply
that - parts that had to be replaced. They did not increase the value
of the vehicle. You are entitled to retail value of the vehicle -
IOW, what it would cost to buy a substantially similar vehicle (same
year, make, model, and similar options and milage.
So check with local used car lots and dealers to see what they would
sell a car like yours for. If you can find one similar, you're in
great shape. ou can use it to prove to the insurance company how much
your car should be worth.
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Beth,
I still don't get it. You seem to be saying that the insurer would rather
pay $3300, the value of the car than $3100, the cost of the repairs. Why
would they do that?
Dave M.
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In the state that I am in, state law says the car is totalled if
the the repair value is 75 % of the value of the car.
But to answer your question, the insurace company would rather pay
$3300 and sell the car for salvage for $200. So they are out the
same $3100 either way. But for a heavily damaged car that would
probably be in the shop at least a week maybe 10 days they save
from paying for the rental car which could be another 3 or 4 hundred.
Their could be other reasons for which I am not aware so that's why
I posted to begin with.
I still don't get it. You seem to be saying that the insurer would
rather
pay $3300, the value of the car than $3100, the cost of the repairs. Why
would they do that?
Dave M.
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Redd,
Ok I understand now. As to your question about recovering the cost for
repairs made before the accident I think that's very unlikely. The value of
your car in good condition is $3300. If your car needs a radiator or a water
pump it is not in good condition. Paying for the repairs necessary to bring
your car up to good operating condition of part of the usual cost of owning
a car.
But you can certainly offer to accept $3100 in cash and the ownership of
the car as a settlement. Get the car fixed and your back where you started.
You'll be out the cost of a rental and the inconvenience of the repairs.
Dave M.
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Just yesterday my car was hit in a parking lot. The driver lost
control and hit the car parked next to my car causing that parked
car to hit my car and then my parked car hit a third parked car.
The driver has insurance but was driving someone elses car.
Whose insurace is resposibile the driver of the car or the
owner of the car ?
I have already had one estimate of 3,100 dollars, but my car's
blue book retail value is 3,300. That means it's totaled.
Will they give me retail value or wholesale value ? Also, in
the last 2 years I have spent nearly 2000 dollars replacing wore
out parts, like the radiator and water pump, etc. I purchased this
car new in 1994 and do not beleive I can replace it for 3,300
closer to 4,500. Do I have any legal way to get the retail value of
the car plus the investment of 2,000 I have spent reconditioning the car.
Sadly, you'll only get replacement value for that make and model. If you
drive a older, well-maintained vehicle, it's generally worth a bit more than
what the insurance will give for it if it's totalled. You can negotiate with
the other insurance company (I believe the driver that lost control gets to
pay for everyone, but IANAL so talk to an expert first) and, if not
satisfied with the payment, sue for what you believe is a fair settlement.
Now, a question of my own. Do you sue the driver or the insurance company? I
would think that you sue the driver who caused the accident, and the
insurance company comes in because they are obliged to represent their
policy-holders in such incidents. Is this correct?
--
John Goulden
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"Redd" <javatek?@usa.com> wrote in message news:<RoyXb.47495$Ch.45024@bignews6.bellsouth.net>...
Just yesterday my car was hit in a parking lot. The driver lost
control and hit the car parked next to my car causing that parked
car to hit my car and then my parked car hit a third parked car.
The driver has insurance but was driving someone elses car.
Whose insurace is resposibile the driver of the car or the
owner of the car ?
I have already had one estimate of 3,100 dollars, but my car's
blue book retail value is 3,300. That means it's totaled.
Will they give me retail value or wholesale value ? Also, in
the last 2 years I have spent nearly 2000 dollars replacing wore
out parts, like the radiator and water pump, etc. I purchased this
car new in 1994 and do not beleive I can replace it for 3,300
closer to 4,500. Do I have any legal way to get the retail value of
the car plus the investment of 2,000 I have spent reconditioning the car.
That's not reconditioning or restoration, that's normal wear and tear
and repair. Since you had that car for going on 10 years, you can
expect repair bills like that. Repairs are at your own expense; they
don't add value to your car, and no insurer will reimburse you for
them.
If you could make a strong argument (for example, through an
independent appraisal) that the car was worth considerably more than
retail because of exceptionally fine condition or extensive recent
work, you are free to make it; the more expert appraisal and legal
muscle you put into it, the more likely the insurance company will not
just politely ignore you. But it will almost certainly cost far more
than any additional recovery would be worth.
--
Not a lawyer,
Chris Green
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I have already had one estimate of 3,100 dollars, but my car's
blue book retail value is 3,300. That means it's totaled.
Will they give me retail value or wholesale value ? Also, in
the last 2 years I have spent nearly 2000 dollars replacing wore
out parts, like the radiator and water pump, etc. I purchased this
car new in 1994 and do not beleive I can replace it for 3,300
closer to 4,500. Do I have any legal way to get the retail value of
the car plus the investment of 2,000 I have spent reconditioning the
car.
That's not reconditioning or restoration, that's normal wear and tear
and repair. Since you had that car for going on 10 years, you can
expect repair bills like that. Repairs are at your own expense; they
don't add value to your car, and no insurer will reimburse you for
them.
Well, in the 10 years that I had this car I have only replaced the radiator
once and the water pump once. If the car was sold for scrap, the scrap yard
would have more vaulable parts to sell since they are new. If I sold this
care
to an individual and pointed out all the shiney new parts you can bet that
person would pay more for a car that has been proven to him has
extensive amount of new parts. I could pull off the wheels and show him
the new brakes and new rotors, new drums and new calipars. I could also
pop the hood and point out the new radiator and water pump. In a used
car this would be very important to many buyers because they can have
some assurance that there are some repairs they will not have to make.
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