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To the Insurance Gurus of TOTA
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View this Thread in Original format
| StereoPrincess |
| When the insurance company writes off your vehicle, are the towing and rental car charges subtracted from the total that the client receives in the payout? |
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| Invasionmix |
| Message ChemEnhanced and Moral Hazard. They know their stuff, and helped me a lot. |
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| ChemEnhanced |
Normally they are not subtracted from the total price the insured would get.
edit: The one thing you should do before taking any settlement is do research on what the value of your vehicle is. You can always use autotrader.ca and look up how much your vehicle is going for. You should also ask for a copy of the appraisal report with how they came up with their figures for the value of the vehicle. |
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| StereoPrincess |
| quote: | Originally posted by Invasionmix
Message ChemEnhanced and Moral Hazard. They know their stuff, and helped me a lot. |
lol. i know this. it's just easier to make a thread. i should have added FAO Moral Hazard and ChemEnhanced.
i rarely read my PMs since my borswer doesn't allow pop-ups and it's a pain in the butt to check PMs. |
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| English Rachel |
| quote: | Originally posted by StereoPrincess
lol. i know this. it's just easier to make a thread. i should have added FAO Moral Hazard and ChemEnhanced.
i rarely read my PMs since my borswer doesn't allow pop-ups and it's a pain in the butt to check PMs. |
Have they given you a quote for it? are you happy with it? |
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| StereoPrincess |
| quote: | Originally posted by ChemEnhanced
Normally they are not subtracted from the total price the insured would get.
edit: The one thing you should do before taking any settlement is do research on what the value of your vehicle is. You can always use autotrader.ca and look up how much your vehicle is going for. You should also ask for a copy of the appraisal report with how they came up with their figures for the value of the vehicle. |
yeah, my other question was how negotiable are the settlements? obviously, if i was the insurance company, i would want to low ball the amount.
what are the biggest changes in amount that you have seen? from first offer to what was actually paid out. |
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| StereoPrincess |
| quote: | Originally posted by English Rachel
Have they given you a quote for it? are you happy with it? |
no, not yet.
the towing company took my car to the wrong shop eventho i called to release the vehicle to the shop it was supposed to go to. and it was there for a couple of days because of the holiday, the towing and storage costs were very high (like 800 dollars). |
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| ChemEnhanced |
| quote: | Originally posted by StereoPrincess
yeah, my other question was how negotiable are the settlements? obviously, if i was the insurance company, i would want to low ball the amount.
what are the biggest changes in amount that you have seen? from first offer to what was actually paid out. |
Typically, the appraiser will give a range for the value of the vehicle. The insurance company will normally work from the lower number to the higher number. The value of the vehicle is usually calculated by determining what the average vehicle is and making additions and subtractions depending on how your vehicle stands up to the average vehicle. For example, if the average for your vehicle has 100,000 kms on it then if your vehicle has less it will increase the value of the vehicle.
The difference between the low number and the high number will depend greatly on the year, make and model of the vehicle. I've seen differences of over $5,000.00 from low to high. |
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| ChemEnhanced |
| quote: | Originally posted by StereoPrincess
no, not yet.
the towing company took my car to the wrong shop eventho i called to release the vehicle to the shop it was supposed to go to. and it was there for a couple of days because of the holiday, the towing and storage costs were very high (like 800 dollars). |
A lot of times the salvage company will pay the towing and storage costs and they just subtract that from what ever amount they get from selling the salvage. |
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| StereoPrincess |
| ^^^good to know! thanks :). |
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| activate |
| quote: | Originally posted by Invasionmix
Message ChemEnhanced and Moral Hazard. They know their stuff, and helped me a lot. |
or better yet, read your policy! it's all there in writting for you! |
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| ChemEnhanced |
| quote: | Originally posted by activate
or better yet, read your policy! it's all there in writting for you! |
you are right...for the most part...but its always good to have some insight as to how an adjuster or the insurance company deals with situations. Besides, who the hell reads their policy.....I've never read mine. |
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