HELP: Car accident..

Question

I was involved in a car accident yesterday. My steering locked unexpectedly and the car ended up going over a curb and hitting someone's tree. The front passenger quarter is smashed. Both the tow-truck driver and a mechanic who lives a few houses down said the car would definitely be written off.

I just got the car in July for 1500. It's worth 2000, and I've just paid the first and last on the insurance. I do have collision coverage and no one else was involved in the accident..

If it's written off, how much money do you think I will get?

Answer 1

What you may get for the car has absolutley nothing to do with what you paid for it.  You say it is worth 2000 but the insurance company will pay "fair market value" which could be more or could be less that the 2000.   what is the mileage? what was the condition before the accident?  All of these factors determine its "Fair Market Value"

Answer 2

First of all steering usually doesn't lock unless the until the key is turned off, so that's strange to beging with.

Secondly, only the insurance adjuster can determine if your vehicle is a write off, not a mechanic or a tow truck driver, so you don't really know yet what, if anything, the insurance will do.

If they do declare the vehicle a total loss, you will get fair market value, adjusted for condition, minus your deductible amount.

Fair market value will be closer to $3,600

Answer 3

Usually if the cost of repair is more than the blue book wholesale value of the vehicle the insurance will consider it a total loss and pay you the blue book wholesale price. They will keep the car and get what ever price they can for the car as scrap. So if you got the car for below wholesale you will make a profit. That is unless you have a deductible, in which case they will deduct that from what you get.  ...Good Luck...

Answer 4

If the insurance company totals the vehicle, they will pay the market value of the vehicle. Your mothers age & driving record, nor your age & driving record has any bearing on how much money they will pay on the vehicle.