- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: What is “actual cash value” to car insurance companies?
Posted on 11/27/19 at 8:16 am to saint tiger225
Posted on 11/27/19 at 8:16 am to saint tiger225
They even exaggerated the tail lights on this model and carried them through the back gate. It really is too much. The wife wanted unique, so it fits the bill.
0
Posted on 11/27/19 at 8:17 am to tgrbaitn08
Neither do I. I haven’t seen the deer.
The firemen and the first responders were going to take it, but her brother was already on his way.
The firemen and the first responders were going to take it, but her brother was already on his way.
Posted on 11/27/19 at 8:18 am to Gaston
You can get retail value if you argue replacement cost
Posted on 11/27/19 at 8:22 am to MikeBRLA
quote:
Trade is irrelevant. They have to give you what it will cost you to replace the totaled car. Which is retail plus the applicable tax rate.
This. I'm dealing with this right now, and had to explain this to the insurance company.
I wasn't driving to go trade my vehicle in at the time of the accident, so why should I have to take a hit on the value because of it.
Give them comps of your vehicle and the value should go up. I was low balled on the repair estimate as well (non-OEM parts, pull-a-part yard parts). Make sure to check everything they send you.
Posted on 11/27/19 at 8:29 am to Gaston
I’m not sure how they calculate it but I totaled my 2018 Chevy this summer, and State Farm paid out top dollar for it. I was very pleased as I assumed they would try and cheat as much as possible.
Posted on 11/27/19 at 8:39 am to Gaston
If they total it out and they are a reputable insurance company. Here is the formula
Retail value +/- Mileage + Taxes - Deductible
Retail Value: Most will use NADA, but some will use and average of NADA, Black Book and Kelly.
Mileage: If there is an add for low mileage they should add for it, if there is a deduct for high mileage they will deduct for it.
Taxes: They owe you the taxes you paid.
Deductible: Your check will be minus your deductible.
Feel free to ask me any other question you might have.
Retail value +/- Mileage + Taxes - Deductible
Retail Value: Most will use NADA, but some will use and average of NADA, Black Book and Kelly.
Mileage: If there is an add for low mileage they should add for it, if there is a deduct for high mileage they will deduct for it.
Taxes: They owe you the taxes you paid.
Deductible: Your check will be minus your deductible.
Feel free to ask me any other question you might have.
Posted on 11/27/19 at 9:13 am to USMCTIGER1970
Taxes were $750+ this year, but you mean when we bought the car?
Posted on 11/27/19 at 9:15 am to Gaston
Replacement cost less depreciation
This post was edited on 11/27/19 at 9:17 am
Posted on 11/27/19 at 9:18 am to Tiger Prawn
quote:
Private party retail, not trade-in
Private party value and retail value are not the same thing. Retail is what you would expect to pay a dealership for the vehicle.
Posted on 11/27/19 at 9:29 am to Gaston
Taxes are applied after retail value +/- any deductions. Example
Retail Value: $20000
Low mileage add $500
Total: $20500
Taxes: x10% $2050(Using EBR for Reference)
Total: $22550
Deductible: (500)
Check: $22050
They will try to low ball you, but if you are prepared you'll be ok. If you feel the first offer is to low, remember its an offer. But if you use this formula it should be easy to figure if they are in the ballpark.
Retail Value: $20000
Low mileage add $500
Total: $20500
Taxes: x10% $2050(Using EBR for Reference)
Total: $22550
Deductible: (500)
Check: $22050
They will try to low ball you, but if you are prepared you'll be ok. If you feel the first offer is to low, remember its an offer. But if you use this formula it should be easy to figure if they are in the ballpark.
Page 3 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News