0
Will insurance companies cover depreciated value from an accident that is not your fault if they decide not to consider your car a total loss?
Wiki User
∙ 14y ago
I am not sure what you mean by "cover". If the car is totalled, it depends on your carrier, as to whether they will charge for depreciation. Most top A++ carriers list cars at "Agreed Value", which means you get the full replacement value for the car, regardless of depreciation.
AnswerGeico and Alstate insurance would not cover the depreciated value of my car, even though it was not my fault. I was told no one does... I don't see why, but they say there is no way to figure out how much was actually lost because your vehicle is now considered to have "one accident". I did ask several dealers if that information matters to them and they said they do take off money for accidents. sorry for the bad news, just another unfair thing in life.Answer
Yes, if the accident was at no level your fault and the other party is accepting all liability you can send a demand lettering requesting they pay for the depreciating value of your vehicle. I would search more online how to write this, but you will need back up documentation showing the depreciation of your vehicle from at least two different dealerships. A copy of the Kelly Blue Book value will also help. I have now been in two no-fault accidents and in both cases the other insurer's company has settled for depreciation value.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
If someone drives your car and gets into an accident will your insurance go up?
The short answer is... yes. Insurance companies consider that situation to still be your responsibility, especially since insurance coverage follows the car first, driver second.
Generally what factors are considered when determining a quote for transit insurance?
Major factors that insurance companies consider when determining a transit insurance quote are the following. What you drive, how old you are, how often and where do you drive, have you been in an accident before and which sex are you.
What should one consider when comparing cheap auto insurance companies?
The most important thing to consider when comparing cheap auto insurance companies is the companies reputation. This can be found out by reading the companies reviews.
Which insurance companies would one seek if wanting more than home insurance?
One may contact a variety of companies depending on the insurance required. For health insurance consider companies such as Bupa and PruHealth. For automobile insurance consider companies such as Tesco or Churchill. For buildings and contents insurance one may consider companies such as Royal Bank of Scotland and Axa. One may also visit the 'MoneySupermarket' website to find further information on varieties of insurance and the best companies to visit for quotations.
How can I finance accident insurance on a student budget?
If you are a student on a limited budget you can afford accudent insurance by researching various insurance companies. The cost will be dependent upon the specific amount of required insurance. The student is advised to consider the long term cost versus the amount of insurance requested.
Economical auto insurance for accident prone driver?
Accident prone drivers who get into more accidents than the typical person cost the insurance company more money. Thus insurance companies charge higher insurance policy premiums to reflect this increased risk to them. You may also consider taking some safe drivers educational courses as well.
What would insurance quotes for 25 years accident free look like?
Sometimes insurance companies consider things other than accidents, such as the length of time you have been with that particular company. I would recommend contacting your agent for full details.
If you had an accident with no other cars involved and filed a claim to insurance with no police report do you have to report this accident to the new company if you get different insurance?
If you don't the new insurance company can cancel your coverage and possibly not cover any of YOUR losses. They might also consider it to be fraud. Any accident less than $750 isn't chargeable, but if you filled a claim with another insurance company your new company would found out even if you don't tell them, when they run your MVR which shows your tickets and previous insurance companies and claim paid.
Where can I find a list of appropriate life insurance agencies?
This depends on the type of insurance, and on what you are looking to get insured, there are many companies that you can consider to get your insurance from.
What do medical insurance companies consider when determining your premium?
Preexisting medical conditions.
What are some insurance companies that offer heavy truck insurance?
There are a wide range of options available for one looking for insurance on a heavy truck. Some of the companies to consider for insurance are Progressive Commercial, Truck Insure and Nationwide.
Which topics should you consider when you need to compare different health insurance companies?
when you need to compare different health insurance companies topics that you should consider are; affordability, preventive care, pre-existing, medical conditions, and family coverage.
