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Auto Insurance Claims/g-35 considered totalled

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Expert: - 6/7/2009


Question
Hi, i just got into an accident with my 04 g35 with 43000 miles on it, Farmer's labeled my car as totalled and has an esimate of 9200 on repairs and says my car is worth 17,000. I have 21000 left to pay back (i do have GAP) but is there any way to fight back them putting my car as totalled? if not, do you know how they will determine a price to give me to buy back?

Answer
With that type of damage, I would not recommend keeping it.  It is VERY likely that is a conservative estimate.  They almost always miss lots of hidden damage on the first estimate when there is that much damage.  And it will take a very long time to repair, and you will probably have problems down the road.  Believe me, I have see this happen over and over again.

If you decide the buy back the salavge, they will call some salvage dealers who will give them estimates on how much they could sell the salvage for.  They will probably take an average and offer you that.

You were smart to get the gap coverage.  I recommend using it.

If you really want them to repair it, it may depend on your state law.  Some states require totalling a car if repairs meet a certian percentage of value.  Check into this for your state on google.  If they are not legally required to total it, the policy probably leaves this to their option.  But I think they made the correct decision.  You could try arguing with the supervisor and if you are persistent enough, they may relent, but again I do not recommend it.

Auto Insurance Claims

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Claims Guy

Expertise

I am currently an Auto Claims Manager for a large insurance company. I have 18 years experience in the industry, having worked as a Claims Adjuster, Injury Settlement Negotiator, Claims Manager, SIU/Fraud Investigator, and Compliance Officer......I can answer questions related to any aspect of Automobile insurance claims and coverages. I can provide an inside look at how insurers operate. I always treat my customers fairly and want to help make sure you are treated fairly. However, please keep in mind that being treated fairly according to the law does not guarantee that you will get what you want. I can also answer some questions regarding Homeowner's and other types of insurance claims. I have handled all types of auto insurance claims and coverages. I am NOT an automotive repair expert but can give advice re how insurers handle complex repair issues. Please keep in mind that every state has its own set of laws pertaining to rules of the road, liability, and insurance. No one is an expert on every state. I am most familiar with laws in Maryland, DC, West Virginia, and Virginia, but will attempt to answer questions for other states. I am not an attorney an cannot provide legal advice. My advice will be my opinion based on my experience.

Experience

I am currently an Auto Claims Manager for a large insurance company. I have 18 years experience in the industry, having worked as a Claims Adjuster, Injury Settlement Negotiator, Claims Manager, SIU/Fraud Investigator, and Compliance Officer. I am not an attorney an cannot provide legal advice. My advice will be my opinion based on my experience.

Organizations
CPCU Society. Adjusters license in multiple states. International Association of Specal Investigators

Education/Credentials
I have a B.S. in Finance and have completed the AIC and CPCU designations.

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