Another one bites the dust

[bobindy]

How would that work if you write it off and paid say $10k ADM. We don't have ADM in Canada so I'm wondering how insurance companies would handle that as they may want to replace the car at its MSRP value or do you have to go out of your way to ensure the car to the value you paid for it? That seems like a bad deal for insurance.

In general, the insurance company doesn't care what you paid for the car, only what it's worth. If this owner paid 10k over MSRP he/she just lost 10k plus any existing depreciation.

Edit: If the car is a total loss.

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[chi town brat]

I heard a Rav 4 pulled out and hit the CTR.

Just a heads up for FL drivers. I spoke with a insurance agent about a claim when I had to flat spot all 4 tires on my EG because YET another vacationer cut me off and slowed down continually while I was doing 50 mph in a 50 mph zone. He didn't even realize I was behind him. Anyway. The adjuster was telling me they are now totaling cars out at 60%.

Seriously. They state the the airbag costs (and this CTR had all the curtain airbags go off on the side that was hit in a photo I saw on Facebook) to much to replace with all the sensors and what not.

And no, they didn't pay my claim. My Star Spec 2's were wasted by that stupid out of state

 

[glossyprimerX]

How would that work if you write it off and paid say $10k ADM. We don't have ADM in Canada so I'm wondering how insurance companies would handle that as they may want to replace the car at its MSRP value or do you have to go out of your way to ensure the car to the value you paid for it? That seems like a bad deal for insurance.

I've owned a body shop for over a decade. It will all depend on the policy covering the car. It would go 1 of 3 ways:

#1 The insurance company will pay the driver the actual market value of the vehicle (As the car is technically used, they would sample the used car markets and find comparable vehicles for sale), I would be surprised if color made any difference to them regardless of scarcity.

#2 They would pay the cost to replace the vehicle, it being the current model year. As there are dealers that have and are selling at MSRP, the owner would be reimbursed, the MSRP + Registration/Title/License + Sales Tax.

#3 If the owner has the scrilla to get a "Stated Value" policy. Then they would pay up the amount the owner said it was worth when purchasing the policy. I've done this on classic vehicles, I imagine the same insurance companies would be willing to give you a policy for a reasonable "Stated Value," but the owner would be paying crazy premiums.

As long as they paid the MSRP they should be just fine!

 

[_Riisho]

All this speculation does no good. It could be just bad luck! I live in south florida and I can testify that it has some of the worst drivers I have ever seen. (I know, I'm one of them! ) Just joking...

Poor guy, still had a temp license plate!

 

[ARod1982]

Hope the driver is ok! But if the tow truck driver wants to stop by my house for a couple hours with tgat car , i can help making that ctr lighter

 

[darthpnoy1984]

If they decide to total it this will fetch north 20K easily on Copart.

 

[SpeedRacerCTR]

Largo didnt really have a mark up just a 3k accessories charge like most dealers do to any car, i was a few hours late on aquiring this one, miami has no chill I was rear ended in my ep3 last year and they wanted to total the car, hope the car is able to be fixed would be a pitty.

 

[Dretlaw]

In Miami? Good luck with that. It's either them or the other driver (if there was one in this situation? kinda looks like a solo event from the picture in the other thread?) -- people suck at driving down here.

hahahahaha im with you on this one... it was a deer i swear.... there is a member on my ig that was there during the accident and im waiting for a replay ., not to bash the guy , unless he did something stupid... so many good people that would cherish this car and it falls in the wrong hands

Hmmm it's Florida...so gator???

 

[Dretlaw]

It happens. Within a few weeks of the Focus RS release there was that video of someone going around a corner drifting right into the side of a hill.

This one...

 

[darthpnoy1984]

Largo didnt really have a mark up just a 3k accessories charge like most dealers do to any car, i was a few hours late on aquiring this one, miami has no chill I was rear ended in my ep3 last year and they wanted to total the car, hope the car is able to be fixed would be a pitty.

It doesn't look too bad the biggest cost killer quite frankly is the airbags plus module programming. Bodies and paint usually doesn't cost an arm and a leg, its these airbags that absolutely drive up repairs to the roof.

 

[Brian1489]

Well no one said you had to be able to drive to buy a R type. Its always sad to see one crashed, but sorry I have to chuckle a little when the driver is a fault. Life will go on..... All I know is another bad driver is short a car ( a plus ) and well When I called my insurance company they had warned me that the insurance on Honda Civics are in the highest group.
now go check out the post on age group of civic drivers, maybe it has a theme ( no not all young drivers are bad and no not all older are good ) but if the numbers work out that way .. well so be it.

Enjoy your ride guys and drive wise safe and have fun.
Take it to a track or controlled area to get wild !!

 

[Shankmeyster]

This one...

That's what happens when you actually think you know how to drive. Bet the insurance claim was denied because of that video.

 

[tacthecat]

...When I called my insurance company they had warned me that the insurance on Honda Civics are in the highest group.
... well so be it....QUOTE]

tacthecat

So our policy quote of $275/yr for the CTR is on the high side?!!!
Suggest you try another agent.

 

[Ricoxii]

Still got the temp tags on it D:

 

[Molatte]

God damn seeing this makes me cry a little on the inside. But then again it happened in MIA so can't be surprised honestly.

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