No. The ACV is given for totaled cars. If you own the vehicle outright & have the title, the insurance company will send the ACV minus your deductible to you via check. If you have a leinholder, the ACV will be paid out to them. If you're upside down on the car, you will owe the difference. If you're ahead of the car, you will get whatever is left after the leinholder is paid.
Not exactly true. Airbags, yes.. Just because it costs a ton to replace the airbag + corresponding parts. I'd say if the damage approaches 40%-50%, it will total out. Most shops dont want to touch anything that has that much dmg because they become liable if that cant fix it properly. Most insurance companies will NOT turn around and give you a better offer if there's not a cause to. As an insured, you do have the right to hire an independent appraiser however and thats when things get interesting. If it's deemed a total, you can salvage owner retain. The vehicle can be purchased for it's salvage value if you have the title but the title will be deemed as an insurance loss (salvage title) depending on your state.
Yeah... While you are right- it's probably not the nicest thing to say at the moment to a guy who is going through this. I have 3 sets of wheels for my ST- a set with winter tires, a set with all seasons, and a set with summer tires. We have received less than an inch of snow (which is uncharacteristic here in NJ) this winter- so I have the all-seasons on this year, but not everyone knows or has the resources to have multiple sets of tires.
You seem informed (I may not be). My information comes from a claims adjuster friend who works for State Farm, but from 5 or 6 years ago. At that time- I was told the threshold for totaling a car (per State Farm anyway) was 80% value, but that it may decline, which is why I opined 75%. That same adjuster told me to never accept the first offer- so given that he's an adjuster, and told me that it's common practice to provide a low offer first- I felt comfortable passing on that advice. It too may be incorrect, but that is what I was told first-hand.
It's all good!! I dont work for State Farm so your friend is probably right as far as their process goes. After I condition a car for unrelated prior damage, I automatically get an ACV based on comps near the insured's zip code. I dont have the ability to change those comps so unless the insured has an atty, the ACV is what it is. I guess that's because most people will find comps that are in their favor and may not represent the ACV (finding marked up/ overpiced comps). I just wanted to give the OP the run down as to what they may expect currently since its my 9-5 lol. States have different laws and different insurance companies have different procedures so we're all right here lol.
Love This!! Thanks for your insight!
Wow, newer ST but the damage didn't look like you would need more than a fender, bumper cover maybe, paint finish, blend etc..
Also- in case it helps- this forum is NOT typical- in that the moderators are really diligent, active and involved. Most forums technically have moderators, but they are not really active the way moderators here are. I'm certain that it's a lot of work, but we all benefit from the structure and organization.
it needed the headlight, core support, fender, bumper cover, wheel house, all the plastics from the bumper cover to the radiator, bodywork on the door where the fender was pushed into it and paint and an alignment since the deer swung around into the left front wheel. the insurance estimator had 1.5 hours for frame pull but i don't know if the shop did that or not. they put an lkq(?) bumper cover on it and it really sucked fit wise, they ordered a new factory one but it is on back order til the end of april
