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Re: Sad news Posted by Bill Homer [Email] (#3427) [Profile/Gallery] (more from Bill Homer) on Sat, 2 Feb 2013 06:10:43 In Reply to: Re: Sad news, T. Christopher, Sat, 2 Feb 2013 03:21:48 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Some more info: if the insurance company says that your car is worth $2100 (and you should argue that it's worth more), the maximum that they will pay you will be $2100 minus your deductible, i.e. $250 to $1000 depending on your policy, meaning a pay out of $1100 to $1850. If you want to keep the car, they may want $250 for its scrap value (yes, true!), leaving only $850 to $1600 as a pay out. Here in Illinois, the insurance company is also supposed to pay you for sales tax and registration fees in case you were able to find the exact same car to replace yours - this absolutely varies by state - so you could add another few hundred to the payout.
If you keep the car, there is a high chance that they will never let you put collision damage on it again unless you prove to their satisfaction that it was repaired properly. On the other hand, it's hardly worth keeping collision insurance on a 250,000 mile/15+ year old car - there comes a time.......
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