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Re: Accident [saabnet.com]
Posted by Peter Duniho - http://saabnet.com/tsn/forms/e.php3 (more from Peter Duniho - http://saabnet.com/tsn/forms/e.php3) on Wed, 8 Sep 2004 22:54:13
In Reply to: Accident [saabnet.com], Jim Norris - http://saabnet.com/tsn/forms/e.php3?e, Tue, 7 Sep 2004 20:12:00
There are at least two issues here. One is whether you have to give up your car, and the other is how much money you should get for it.
In the first issue, I don't know what OH state law is, but in WA state (where I live), only your own insurance company can 'total' a car, giving you a lump sum and taking the damaged car in return. When dealing with a third party, the worst they can do is not give you enough money to repair your car; they cannot force you to give up your car.
I would hope that OH would be similar, but I don't know whether it is. You really ought to be taking your question to the OH insurance commissioner's office, not an Internet mailing list (as useful as it might be most of the time).
In the second issue, that's just the vagaries of insurance valuation. Again, I don't know how OH is, but WA state does have an appeals process if an insurance company tries to give you less money for your car than you think it's worth. If OH is similar, it will be up to you to find comparable sales that support your claim for higher value.
As for whether undervaluing your car establishes a norm for all Saabs, not really. It may encourage the insurance company to lowball replacement values for cars in general, but a proper valuation comes from the marketplace. That is, how much comparable cars are bought and sold for on the open market. If an insurance company tries to undervalue a car based on that, you should be able to contest the valuation successfully.
If you cannot successfully contest the valuation, either your state's laws are screwed up (that is, they don't allow you to contest the valuation) or your perceived value of the car is incorrect (that is, the marketplace has defined a different value than what you think is correct).
Peter Duniho '90 900S ================ To send a response, just hit reply! The Saab Network - On the Internet Since 1988 http://www.saabnet.com/
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