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Posted 10/22/2007 11:33:22 AM


Supreme Being

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Okay I I that there are a few insurace folks on this board...

A friend in a 3 mth old vehicle got into a head-on.  He is not at fault, but it looks like his car is totaled (roof is badly creased).  Is he entitled to a settlement for the full price of a new vehicle or will he have to settle at some depreciation?

Thanks

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When it comes to Auto-Xing, I'm like an elephant

Post #6313
Posted 10/22/2007 12:25:54 PM


Supreme Being

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Lucky 4 u we have 2 claims adjusters on this site. 

I imagine at 3mo the only way to get him back where he was is a new replacement.  Hopefully the other guy has good insurance.

Jeron
BMW / PCA / Apex HPDE Instructor

97 M3/4 Byzanz/Magma; 2001 330i Silver/Gray; 97 R1100RT; 91 F-150 5.8l

Post #6315
Posted 10/23/2007 6:47:42 PM


Supreme Being

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Last Login: 9/15/2008 12:43:49 AM
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He will be paid  a depreciated value..  A vehicle that is only 3 months old is just that.. a vehicle that is 3 months old..    Let the first person on this list  that would pay sticker price for a vehicle that someone had purchased and was selling after 3 months of use please stand up.

Anyoner?  Bueller?  Didn't think so. 

3 months of use could be 1000 miles or more likely 3000 miles... or heck it could be 6000 miles...if the   guy got the car and drove a bunch with his new ride  (as many people do!) It will be tough to come up with a value but a little research on places like autotrader etc will probably help.

Post #6325
Posted 10/24/2007 10:02:38 AM


Supreme Being

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Thats a shame.

My uncle had a practically new (a few months old) truck totaled by a another driver about 15 years ago.  Both drivers were State Farm and they replaced the truck with a New one.  He didn't drive much so I suspect his truck only had about 1000miles on it.

Jeron
BMW / PCA / Apex HPDE Instructor

97 M3/4 Byzanz/Magma; 2001 330i Silver/Gray; 97 R1100RT; 91 F-150 5.8l

Post #6333
Posted 10/24/2007 10:56:35 AM


Supreme Being

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Good info Mark. 

Jeron...I'm with Liberty Mutual...and my coverage includes (in writing) a new car replacement should I total my car  within 1 yr/12K miles....guess that doesn't apply to the guy I might hit though.  Suspect your uncle might have similar coverage.

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When it comes to Auto-Xing, I'm like an elephant

Post #6334
Posted 10/25/2007 12:57:35 PM


Supreme Being

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under 1000 miles  yes... a lot of companies will  probably would just pay full price.....  

it's pretty much impossible to find comparable cars for values anyway......

If I had a nickel for everyone with a  6-18K mile car that is  " New" according to the owner I'd be sitting on a beach somewhere.

Post #6343
Posted 10/27/2007 9:56:27 AM


Supreme Being

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Thanks guys for the responses!!

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When it comes to Auto-Xing, I'm like an elephant

Post #6350
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