What will the car insurance pay if your car is deemed as a total loss?

Question

What will the car insurance pay if your car is deemed as a total loss?

Answer 1

They pay "fair market value" and look at the condition of the car, miles, etc.  You can keep them honest by getting a couple of your own (written) appraisals from Auto "experts".

Answer 2

Check your policy limits, it should say somewhere in your policy. Different limits depending on carrier.

Answer 3

They pay what the market value is for the vehicle at the time of loss. (replacement cost) Books are used as a guide to market prices. You can negotiate the value, if you have good reason to think they are low. If you can find a car similar to yours that is for sale, that will help you.

You'll want to research this some more....

http://www.safelinked.info/go.php?link=i...

Have a nice day.

Answer 4

when i totaled a car last year my insurance company checked with auto trader.com and pulled up all of the make and model of my car within a 100 mile radius of where i lived. they took the high price and the low price and gave me the average (it was more than blue book by about 1500.00)  

Answer 5

First, they will deduct your deductible. Then they will try to keep from paying you anything. Then they will run you around in circles for the better part of a year. Then they will tell you your car had depreciated X amount and that unless you can prove all the options that were on it that they don't count those. Then they will tell you they are not going to buy you a new car.  Then they will say the main office has moved to Timbuktu, Texas and you will have to call later. Then they will send an adjuster out to look at the car, only he won't show up because he will be at the donut shop visiting with the police person who issued the ticket for the accident the other driver caused.  Then they will say since the accident was your fault, you can only claim for 1/2 the damages and that the other driver's insurance should cover the rest. Then the other insurance company will tell you they do not pay on claims over two years old and that your claim is over two years old, because it will take that long to get anything done...

Answer 6

insurance companys don't use blue book they will get an average value on your vehicle which is usually done by an outside company such as AUDATEX .. they compare yr/make/model/mileage/options and conditions to similar cars so if they get 10 cars like yours based on prev mention list and they are all being sold four about 10k than yours will be about 10k to that they w/add tax license fees and subtract your deductible if you have one and give you the balance remember SENTIMENTAL value is never relevant and if you're upside down than they try to help you to pay off the loan but if it's too much than you'll the rest of the balance .. also if you want to get an idea as to the value of your car than do your own research online or newspapers to see what your vehicle is being sold for but the key is .. the other vehicles have to be similar to yours don't compar your 90's vehi w/over 200k miles to a 90s vehi w/50k miles that will not be a fair comparison.

Answer 7

i  think theyll pay the blue book price.  you can call any bank, ask for the loan officer, and ask them the blue book price for your car.

Answer 8

I've gone through the same thing -- still a bit painful,here is the resource help me a lot.http://carinsurance.expertsupport.info/a...

Answer 9

They never pay blue book because they consider it too high.  They will pay you the value that their book gives, less your deductible.  Their price is more comparable to edumds.com.  If you disagree with the price that they give, you can take them to Court. If it is an inexpensive car, I would recommend this option because you can go to small claims court, which is quick.  

Answer 10

Bluebook price only.

Answer 11

they will pay you the estimated blue book value of your car before the accident