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Does state farm insurance use the trade in value or the retail value of a car to determine the value of a car if totaled?
Wiki User
∙ 13y ago
They use a market value guide.
Wiki User
∙ 13y ago
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What do you do if the insurance for a totaled car does not pay for my personal injuries?
If you feel you haven't been treated fairly, I would file a complaint with your state insurance company or have your lawyer do it.
Do you have to pay auto insurance if your car is totaled in an accident and may not have another car for several months?
If the only insurance you have is on the totaled car, you will not be required to carry a policy on it anymore. However, it is never good to have lapses in the dates you are insured. I suggest having them to lower your insurance to the most basic your state allows and carry that until you get another car.
How does car insurance determine value of car?
It is important after you have an accident and your car becomes useless as your insurance company will have to pay up. Has your car been "totaled" by the insurance company claims adjuster? Is it now being towed to a salvage yard because it has been rendered unusable in an accident? The laws of states vary somewhat, but typically there are state laws involved with "totaled" vehicles in order to keep unsafe "junk" from being driven on public highways. Part of each insurance companies procedures must follow the state statutes in order to comply in the claims process. For more information read the source link below
If your 17-year-old son who is not on your insurance policy totaled your car and no other vehicles were involved will your insurance cover the damage?
Insurance laws differ state to state. The most logical thing to do is to call your agent! Does your son have his own policy? Is he listed on another policy? If the answer to those are no, in MA your answer is no! 4lifeguild
How do you know if you car is totaled?
You need to file a claim with your auto insurance carrier. The insurance adjuster will physically examine the vehicle's damage. If the estimated cost to repair all damages exceeds the total value of the car, then the insurance company will total the car. This means they will write you (or the lender) a check for the total value of the car before damages.Most of the above is true but a car is considered totaled when the repair costs exceed 50-75% (depending on the state you live in) of its actual cash value. If it is totaled you will sign the title over to the insurance company and they will take ownership of the car after they pay you.
Is shop insurance available at State Farm?
Retail and food shop insurance is available through State Farm Insurance agency, and may protect you against theft/vandalism or a lawsuit so you do not lose your personal property.
Will at fault insurance buy you a new car after paying your car totaled?
No. They will give you the money for the value of the vehicle and then you are on your own. However, check with your state's Department of Insurance. You might have recourse against the insurance company if you are unable to find a comparable vehicle with the amount they gave you.
When is your car totaled?
Your car is considered totaled when it would cost more to fix it than it is worth. when your insurance company says it is or it cost more to fix than it's worth == When the repair costs exceed 50-75% (depending on what state youre in) of the actual cash value of the car.
If a vehicle is wrecked then totaled and it has a lost title will this affect the insurance claim?
Totaled vehicles which have been rebuilt generally have a "salvaged vehicle" title, or whatever it's called in your state. Vehicles with a salvaged vehicle title are by definition, not as valuable as the same vehicle with a clean title. If the vehicle is subsequently in another collision, the insurance company will not pay as much since the loss was not as great. Insurance companies only need to pay you for the actual value of the vehicle.
How does one determine what state an auto insurance policy was written for or under?
Look at your bill. If it shows your address in the state that you currently reside in, then that will tell you what state you are insured in. You can still drive to whatever state you want and still be covered. If you move to another state then you must get a new insurance policy in that state. It is illegal to have insurance in another state and not live in it.
If you totaled your car and were arrested for DUI will insurance pay for your car in Texas?
Probably not. You damaged it during the commission of an illegal act (DUI). If you hadn't totalled it, the state would have probably confiscated it anyway.
What argument can be used when an insurance co claims a totaled car is salvage and deducts from the payment but the title doesn't say it is salvage?
Your question is unclear. Did the insurance company declaire the car that was insured was a total loss. After that they would pay you for the entire value of the vehicle and keep the car since they paid you for it. The insurance company can then sell the damaged vehicle at an auction and make up for some of the loss or they can let the insured keep it and deduct the value from the claim settlement. I am an insurance agent but not a claims adjuster. Your questions is indeed unclear but I am assuming your car got totaled and they paid you less, as though it was a totaled vehicle to start with. They might know something you don't. If you purchased the car in the last 18 months from a dealer or person who gave you a clean title, the car may have in fact already been totaled but they decided to not file a claim and instead fixed it themselves at a cheaper cost and passed the car (and clean title) on to you. Meanwhile, the insurance company might have totaled the car and reported it as such. Or, the car was totaled in another state, moved to your state (a process called titled washing) and got a clean title for the short term, long enough to resell the car with a "clean title" even though it was totaled. When you renew your registration the title will come up salvage. Did you run a Carfax on this car prior to purchase?
