My car accident

[fma_fanatic]

Quoth Der Cute

I'm really sure the company will total it. But why take my deductible out of the settlement (assuming they total it), does anyone do insurance/know this stuff here? I've accepted that it's dead, and tbh I don't want it if the frame is THAT damaged.
Can you read this here? (go to bottom!)
https://www.dropbox.com/s/i1k54drwyl...e%20Edited.pdf

Friend was telling me that if the frame is that damaged, there is metal fatigue in other parts, the effort is a PITA to fix it.
So now I'm sniffing around Craigslist etc to find a similar car for settlement bargaining (hey, one talent I have is bargaining!) and to see what kind of car I could "possibly" get. Did you know that a 2005 Corolla is the same price/market value as my dead car??? Wow. And if I go back about 2 or 3 years older than my car, staying with the specs of my car, it drops about $3000. Hehe. *rubs hands*. And yes, I could just go find a beater with a heater and save $. So many choices.

Bear in mind my experience was with my insurance company at the time (AAA). It might be different with yours. But my understanding is that you would have to pay some money towards the claim you put in. Notice on your estimate that you'd have to pay a deductible for your repairs - again, YMMV on that. They may waive it. This is something that you need to talk to your agent about.

It's not surprising that a dead car is worth as much as one that still runs. There are still parts that they can take off the car, though with the damage I'd be hard pressed to figure what though. Maybe scrap value? IMO, it might be a good idea to talk to someone at the shop and ask if the frame is bent. Get a professional's opinion on this before making a decision.

[Der Cute]

Quoth Der Cute

https://www.dropbox.com/s/i1k54drwyl...e%20Edited.pdf
Did you know that a 2005 Corolla is the same price/market value as my dead car??? WAS Wow. And if I go back about 2 or 3 years older than my car, staying with the specs of my car, it drops about $3000. Hehe. *rubs hands*. And yes, I could just go find a beater with a heater and save $. So many choices.

Sorry if I wasn't clear. The market value of car BEFORE the crash was around $8500 (I think/guess). I'm saying that Corollas of that year and OLDER are that same value $8500! Huh? 2 years older than my car and still costs that? Jeeez. I drove a Camry. Same age as my car would cost $8500 or more. A Corolla - one size smaller costs the same damn thing!
I have no idea what the $ to me is going to be, so it's going to be hard to guesstimate what I can and cannot purchase. I have no cash saved up, so whatever I get is the car that I can purchase for me.

I learned this today, by speaking to the guys @ the shop:
Although Insurance Company is dealing with me, a third party will come to assess what the car HAD BEEN worth. Looking at the dings, scratches, etc, that's what 3rd party looks at, along with my specs. Camry LE, stock specs, average value across the market. So let's say my car was worth $8000, in MY calculation. (go to edmunds.com it helps you with that with "condition of car"). Ok. I think it's $8000. Now, 3rd party will see those dings and scratches, and calculate? what that would be, average. (I'm not sure average in state or city or what).
This means My Calc of $8000 probably won't equal 3rd party's calc. Then after that, there would be some salvage value of car (have no idea what that is), and my deductible.
What I think the shop meant to me: 3rd party's assessment + salvage - deductible = what I might be offered.

Oh, the car isn't cosmetic - there's frame damage up top. I spoke to the shop guy about that too, he agreed with me that the front end was not sitting right. (one side was a wee bit higher than the other side, frame damage, on a unibody plus the trunk end. I think with the first impact it kinda bent the body into a small c )

I went to the shop today to pick up my stuff out of the car. Did you know that your car gradually grows stuff in it, and you don't realize it? I had jumper cables (yeah), tools, cookie pan, extention cord, art paper, a scale, coffee machine thingy, gym bag, toaster oven...all that crap plus more in it!!!! and all the CD's left in the car...a small floppy disk..about 3 pens. Stuff like that.

Sigh. One step accomplished, few more to go this week.

[Der Cute]

Quoth Der Cute

Update:
I got the car damage/repair estimate back. I really want to cry.
I think I'm fucked. Before the accident, Kelly Blue Book had the car value around $8000. Maybe $8500, depending on where and what stuff you had on it. The estimate says the repair will cost $10000 (10 K!). My deductible is $1000; so the insurance company would have to pay $9000. I have not heard anything (since the estimate came to me tonight), but I am freaking.out.now. If the car is totaled, I think I'd get the $8000 for it. I'm not sure. This is all new territory for me, and I'm scared, to be honest.
But so far, Pemco, my insurance company, has been super super helpful, easy to work with and overall cool.

Oh my fucking god. Oh god. I never would have dreamed this!
The total car repair cost is/was around 11K, the pdf at the end shows this. The car's street value, after assesment, is 10K. Wha-whoa? I got a call from insurance this morning, saying that after the assessment from the 3rd party, my car was deemed worth 10610.22. (the .22 is cute, imo). What? When I did this online at edumnds.com I guessed the car was around 8500. Heh, guessed wrong!
So that 10K minus my deductible is 9060. Holyfuckingshit.
Everyone had told me "get ready to bargain" "lowball offers" "do homework to argue your side". I had all that lined up and ready to go. Guess I don't need it!

Now it's time for car shopping....

[Antares]

Quoth trailerparkmedic

I recently almost totaled my car. The insurance company told me they'd total it if the estimate for repairs was equal to or greater than 80% of what they would pay me for the car. I think I just squeaked under that threshold, so I got my car repaired.

This is pretty typical. I seem to recall that the cost of repair when I had my accident was something like 84% of the value of the car. The insurance company totaled out the car even though I'd only had it 17 days.

Quoth Der Cute

I'm really sure the company will total it. But why take my deductible out of the settlement (assuming they total it), does anyone do insurance/know this stuff here? I've accepted that it's dead, and tbh I don't want it if the frame is THAT damaged.
Can you read this here? (go to bottom!)
https://www.dropbox.com/s/i1k54drwyl...e%20Edited.pdf


Friend was telling me that if the frame is that damaged, there is metal fatigue in other parts, the effort is a PITA to fix it.
So now I'm sniffing around Craigslist etc to find a similar car for settlement bargaining (hey, one talent I have is bargaining!) and to see what kind of car I could "possibly" get. Did you know that a 2005 Corolla is the same price/market value as my dead car??? Wow. And if I go back about 2 or 3 years older than my car, staying with the specs of my car, it drops about $3000. Hehe. *rubs hands*. And yes, I could just go find a beater with a heater and save $. So many choices.

Your deductible is the amount of liability you assume if the car is in an accident.

Your deductible is $1000, so the you're responsible for the first $1000 worth of damage whether it is totaled or not.

If the car were repaired, you'd be on the hook for $1000. Since the car is being considered a complete loss, and you have assumed responsibility for the first $1000 worth of damage, the amount they pay you will , reduced by the same $1000.

In my case, the body shop bought my car and rebuilt it. I had an automotive engineer come take a look at it before making the decision on whether to buy it back or not and he recommended that I don't do it. Although I was hit from behind and there was no apparent damage to anything in front of the B-pillar, the chance of unseen damage to other parts of the car was too great.

Without seeing pictures, it is hard to judge just bad the damage is.

Quoth Der Cute

Oh my fucking god. Oh god. I never would have dreamed this!
The total car repair cost is/was around 11K, the pdf at the end shows this. The car's street value, after assesment, is 10K. Wha-whoa? I got a call from insurance this morning, saying that after the assessment from the 3rd party, my car was deemed worth 10610.22. (the .22 is cute, imo). What? When I did this online at edumnds.com I guessed the car was around 8500. Heh, guessed wrong!
So that 10K minus my deductible is 9060. Holyfuckingshit.
Everyone had told me "get ready to bargain" "lowball offers" "do homework to argue your side". I had all that lined up and ready to go. Guess I don't need it!

Now it's time for car shopping....

This is an excellent outcome! I'm glad to hear it. Good luck with the new car hunt.

I too was surprised with the settlement offer on my car. (I actually came out ahead.)