How does insurance determine the amount they pay you when your vehicle is totaled in an accident that was not your fault?

Answer 1

Regardless of fault, insurance companies determine that the car is totaled (in my experience) when the damage to the vehicle is estimated at a higher cost than the vehicle Suggested Retail Value, according to Kelly Blue Book. It's important to look at the Suggested Retail Value (the representative of dealers' asking prices for that car currently - NOT the Trade-in value - the trade-in will be a lesser value, both to meet when determining if the car is totaled and to receive when your car is taken by the company. So for example, I had a Hyundai Elantra, totalled by a friend in a one-car-accident completely his fault. The blue book value of the car (in best condition - they will never know it was not before it was totaled) was about $9600 Sugg Retail in 2006. I received $10,500 which also included towing and alt. transportation. I also got to pay for the telephone pole and restaurant sign he tore down...which leads into now the only person driving it is me (but this is asnoter different question completely) When your car is totalled under full coverage, you have the right to receive back an amount equal to what you lost and your car being totaled may only have resold at the lower estimate but at that present moment, it's worth