Insurance new car replacement? With CTR.

Harlaquin

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Does anyone know how it works with these insurance companies that offer new car replacement or the one who guarantee a car one model year newer with 1000 less miles. I mean can't hardly find them now how they gonna replace yours if totaled?
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Does anyone know how it works with these insurance companies that offer new car replacement or the one who guarantee a car one model year newer with 1000 less miles. I mean can't hardly find them now how they gonna replace yours if totaled?
They would probably buy you a new one then drop you a few weeks later after they had to pay an ADM
 

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man would they be that low down dirty snakes?
 

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man would they be that low down dirty snakes?
Assuming you're seriously asking this question... then yeah, if they think they can get away with it. I'll go out on a limb and say even if they think they won't get away it, they'll try anyway.
 
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Harlaquin

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They would probably buy you a new one then drop you a few weeks later after they had to pay an ADM
I think you might have missed the point of my question. The CTR is not exactly easy to find and most dealer still have waiting lists. So how would the insurance company get one. I seriously doubt they woukd get it from across country and ship it. Or get it off ebay.
 
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I think you might have missed the point of my question. The CTR is not exactly easy to find and most dealer still have waiting lists. So how would the insurance company get one. I seriously doubt they woukd get it from across country and ship it. Or get it off ebay.
When I lost a car due to flooding, I got a check for the replacement cost. It was more than fair, finding the car was my problem.

With the CTR I suspect you would be outta luck with the adm.
 

PwrOfDreams

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They will just pay you the market value of the car. ADM is not included so make sure you have GAP insurance to cover the difference to pay back your lender.
 
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Harlaquin

Harlaquin

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They will just pay you the market value of the car. ADM is not included so make sure you have GAP insurance to cover the difference to pay back your lender.
So again my question is not how regular insurance works but the two companies on TV who claim they pay for a whole new car full cost and the other who says a car one model year newer with 1000 less miles. My question is how do those two companies do that with a CRT considering they are so hard to get. Sure there are a few around but most have waiting lists so a new car replacement seems improbable even though they promise such. They couldn't just cut a check for market value because the insurance promises a new car period.
 

PwrOfDreams

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So again my question is not how regular insurance works but the two companies on TV who claim they pay for a whole new car full cost and the other who says a car one model year newer with 1000 less miles. My question is how do those two companies do that with a CRT considering they are so hard to get. Sure there are a few around but most have waiting lists so a new car replacement seems improbable even though they promise such. They couldn't just cut a check for market value because the insurance promises a new car period.
Oh ok....hmmmm :hide:
 

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Insurance company wouldn’t actually get you the car. They cut you a check based on what they deem as fair market value. And it’s up to you to locate one.

What a lot of people don’t realize is that the number they give you, their idea of FMV, you don’t have to accept. You can counter and say that it’s not enough and negotiate. So if you want them to add in ADM you’ll have to argue for it.
 


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Harlaquin

Harlaquin

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Insurance company wouldn’t actually get you the car. They cut you a check based on what they deem as fair market value. And it’s up to you to locate one.

What a lot of people don’t realize is that the number they give you, their idea of FMV, you don’t have to accept. You can counter and say that it’s not enough and negotiate. So if you want them to add in ADM you’ll have to argue for it.
Sighhh... ok go look up liberty mutual insurance. I know how regular insurance works. They claim they do not just pay market value they pay full new car replacement. Its the bases for all thier tv ads. Maybe yall just dont have them in your areas of the country. And the fact that this company claims such is the bases for my question.
 

Fk8 4343

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Sighhh... ok go look up liberty mutual insurance. I know how regular insurance works. They claim they do not just pay market value they pay full new car replacement. Its the bases for all thier tv ads. Maybe yall just dont have them in your areas of the country. And the fact that this company claims such is the bases for my question.
Did you ask Liberty Mutual to clarify their new car replacement policy regarding ADM and purchase price?
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