Car was totalled, waiting for offer from my insurance.
03-08-2006, 09:52 AM
#11
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depends on the carrier....
some use market value (KBB), some take ACV (actuall cash value) which is purchase price, less depreciation. If you have gap coverage then it doesn't matter which amount they gove you, as you should be covered for the whole value.
It also sounds like your carrier will be subrogating the claim to recoup your loss.
It also sounds like your carrier will be subrogating the claim to recoup your loss.
03-08-2006, 12:41 PM
#12
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When I was in HK back in 1999-2002.
The skyline GT is a normal car just like G35. The only one we don't had here in US is the GTR.
I am going to buy one once it released in US. So, I will not buy the new RS4...
I am going to buy one once it released in US. So, I will not buy the new RS4...
03-08-2006, 05:20 PM
#13
AudiWorld Super User
That's what sucks about US insurance
In Switzerland, the law says that a car up to 1 year old is "new" for insurance purposes, and the insurance *must* pay full (sticker) price if it's totalled.
I was borrowing my dad's 1998 A6 when it got stolen almost a year later. After a LOT back and forth, the insurance had to pay out the full sticker price. This was cute, because this way my dad actually made some money on this (since he didn't pay sticker). Ironically, had the insurance paid the moment we made the claim, they would have saved a lot of money because the law came into effect during them refusing the claim :-)
We didn't feel too bad about actually making some money, though - my dad had to buy a new A6 in the meantime, so he basically owned (and paid for) two cars.
I was borrowing my dad's 1998 A6 when it got stolen almost a year later. After a LOT back and forth, the insurance had to pay out the full sticker price. This was cute, because this way my dad actually made some money on this (since he didn't pay sticker). Ironically, had the insurance paid the moment we made the claim, they would have saved a lot of money because the law came into effect during them refusing the claim :-)
We didn't feel too bad about actually making some money, though - my dad had to buy a new A6 in the meantime, so he basically owned (and paid for) two cars.
03-08-2006, 07:09 PM
#14
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Ultimately, insurance companies are businesses, and they try to turn a profit legally.
They low ball customers and let them either accept the low ball or fight it. If you fight it and provide documentation and yell loud enough, they usually fold. Afterall, claims specialists are people and are allowed to fluctuate payouts ad valorem occassionally.
03-09-2006, 12:11 AM
#16
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If the car was leased, then you have GAP protection
when I leased my 05.5 S4 through Audi financial, GAP protection was included automatically at no additional cost even though I have it through my insurance carrier.
Make sure you check with your cars finance company, you might have it (finance companies like to protect their investment as well and dont like default loans due to a car being totaled)
T.
Make sure you check with your cars finance company, you might have it (finance companies like to protect their investment as well and dont like default loans due to a car being totaled)
T.
03-09-2006, 05:29 AM
#17
AudiWorld Super User
Also depends on the state you're in....
For example in NJ if your car is totaled you can opt to force the insurance company to find you an exact replacement similar miles options etc. This is to prevent insurance companies from low balling you on a payout. I guess it would help to know what state you're in. Call your agent and get details on the laws in your state.
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