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05-28-2008, 08:39 PM
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#1 | |
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AF Newbie
 Join Date: May 2008
Location: Las Vegas, Nevada
Posts: 77
Thanks: 0
Thanked 0 Times in 0 Posts
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Insurance Question
I bought my lumina used in Feb.08,and I put full coverage on it. Will I get what I paid for,its blue book value??
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05-28-2008, 08:48 PM
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#2 | |
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Lactose the Intolerant
 
Join Date: Aug 2004
Location: Nowhere, Missouri
Posts: 6,410
Thanks: 4
Thanked 52 Times in 51 Posts
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Re: Insurance Question
Just playing devil's advocate, but depending on mileage that '96 is probably only worth somewhere between $1800-$3000.
If you have a $500 deductible and pay $500 every six months or something for full coverage, if in a year and half you total it you will have bought the car again, so if you'd total it you'd actually loose money. I have a '97 LS, with 140,000 in good shape, still only books about $1900 last time I checked. I just keep liability on it. Anyway, to your question, they pay pretty close to KBB (or similar value guide) value for a total, unless you can bring evidence of similar cars going for more money in your area...sometimes they'll come up a bit. I just checked, a '96, basic model, 120,000 miles assumed with no premium equipment is only worth $1815 in excellent condition...an LS with a lotta equpment only books at $2085... Remember what a dealer sells a car for doesn't reflect it's actual value, you won't get dealer retail price...
__________________
You made three mistakes. First, you took the job. Second, you came light. A four man crew for me? F**king insulting. But the worst mistake you made... ...empty gun rack. |
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05-28-2008, 08:52 PM
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#3 | |
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A990 racer
Join Date: Mar 2002
Location: Chestertown, New York
Posts: 17,052
Thanks: 26
Thanked 383 Times in 374 Posts
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Re: Insurance Question
Spot on advice, jeffcoslacker!
__________________
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05-28-2008, 09:33 PM
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#4 | |
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AF Enthusiast
Join Date: Sep 2006
Location: Athens, Georgia
Posts: 4,662
Thanks: 0
Thanked 64 Times in 64 Posts
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Re: Insurance Question
When dealing with an insurance carrier you never get what you think the vehicle is worth. If you buy a new vehicle you can pay an additional premium for a new replacement identical car if you wreck it a lot more expensive.
They will probably look at wholesale book. |
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05-28-2008, 09:59 PM
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#5 | |
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AF Newbie
Join Date: May 2008
Location: Las Vegas, Nevada
Posts: 77
Thanks: 0
Thanked 0 Times in 0 Posts
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Re: Insurance Question
my car is a 96 LS. with 86,000 miles. I did pay 2995.00 for it. Its a great car. I love this car out of most cars I've had(except for me 92 chevy camaro z28)Thats like a whole different class of cars!!!
Well its not wrecked or damaged,I was just curious as far as what I would get back on it. I do have a 500 dallor deducitable,and actually I do pay about 500 every 6months. Thanks for the advise |
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05-28-2008, 10:12 PM
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#6 | |
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AF Enthusiast
Join Date: Sep 2006
Location: Athens, Georgia
Posts: 4,662
Thanks: 0
Thanked 64 Times in 64 Posts
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Re: Insurance Question
Do a yahoo search for kelley blue book value. This will give you an idea. A lot depends on the adjuster and if you use an attorney. Different companies will treat you differently.
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