Is there a dollar amount on property replacement in an accident.?

Question

It was a rear -ender accident and no injuries involved just property replacement,that we are trying to work out thats fair.

Answer 1

whats fair is the price it takes to fix it ... you call three places and decide

Answer 2

Just get the person that was in the right in the accident to get two quotations for the repair of the vehicle that was rearended.

When you have this amount you will know whether to claim on your insurance or not.  If you are insured put a claim in on your insurance company the person in the wrong will pay an excess  and the claimant will pay their excess.  When the insurance companies work it out the person in the right will receive their excess back and it won't affect their no claim bonus.

If not insured you will have to decide if the person in the wrong will pay.  If everybodies happy, get the person that caused the damage to pay for the repairs up front with a bank cheque.  The person that has their car repaired should sign some paperwork agreeing that this is the total amount of compensation that will be required for this matter to be finalized.

Answer 3

My opinion is; Not getting the insurance companies involved is a mistake which both parties may long regret

Answer 4

Actual cash value.  Go to autotrader.com, you can input your type of vehicle & look for what they've sold for in the last 60 days.  These are called 'comps'.  If the insurance company is giving you a low figure, you can usually submit these for review and a possible higher value.  Be sure to find vehicles that are as close to yours as possible (mileage, options, etc)