#7999459 - 12/09/14 01:34 PM
WTF? Insurance Payout for Written Off Car - Updated
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SuPeR-MaRiO
Post Master Sr
Registered: 06/28/01
Posts: 6118
Loc: Toronto, Ontario
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A co-worker’s car was parked on the Danforth and got hit. It has been deemed a write-off and so he is now haggling with his insurance company (Bel Air).
He drives a 2013 Kia Soul, he bought it brand new. It’s been on the road for approx. 2 years. His insurance company told him to send them the original bill of sale because since the car is under 36 months old, they will take the original price into consideration.
Maybe I’m wrong, but my thinking is that if the car was $80k new and now two years later its work $20k, well that’s what you’re getting. In any event I told him to do his homework and have examples of cars with the same mileage, year, options and what they go for.
On the road (after taxes and everything) he purchased the car for $24,500. He said they are now going for about $17,000 and so he was expecting an initial offer from his insurance for around $14,000
Their first offer was $26,000 He said he wants to see what more he can get from them (ie money for winter tires, extend car rental). I told him that he's going to f*ck up everything. I told him to take it and run.
Edited by SuPeR-MaRiO (12/10/14 10:28 AM)
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#7999466 - 12/09/14 01:41 PM
Re: WTF? Insurance Payout for Written Off Car
[Re: Screamin Type ARGH!]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44797
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So his 2 year old car gets written off (market value of 17k because Kia)...he is offered 26k and he wants to go back for more?
I actually hope they fuck him over now.
FYI: payouts are usually higher than market because they include HST. In this case it's probably 26k because they are honouring their 2 year old policy and are including interest on the outstanding loan over the 2 years that he would have paid while financing it.
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#7999474 - 12/09/14 01:44 PM
Re: WTF? Insurance Payout for Written Off Car
[Re: Euphoricuck]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 106985
Loc: Barrie, Ont,
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You're friend is a retard for not taking that offer and running to the bank with the cheque.
_________________________
-Bill The GN would OWN you, your children and your children's children. '09 E90 335 d
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#7999484 - 12/09/14 01:51 PM
Re: WTF? Insurance Payout for Written Off Car
[Re: Euphoricuck]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 106985
Loc: Barrie, Ont,
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_________________________
-Bill The GN would OWN you, your children and your children's children. '09 E90 335 d
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#7999561 - 12/09/14 02:35 PM
Re: WTF? Insurance Payout for Written Off Car
[Re: LNXGUY]
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titty sprinkles
Post Master Supreme
Registered: 08/22/05
Posts: 17192
Loc: Toronto,Ontario
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You're friend is a retard for not taking that offer and running to the bank with the cheque.
_________________________
2019 TLX Aspec
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#7999567 - 12/09/14 02:38 PM
Re: WTF? Insurance Payout for Written Off Car
[Re: titty sprinkles]
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SuPeR-MaRiO
Post Master Sr
Registered: 06/28/01
Posts: 6118
Loc: Toronto, Ontario
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You're friend is a retard for not taking that offer and running to the bank with the cheque. You're friend is a retard for not taking that offer and running to the bank with the cheque. You're friend is a retard for not taking that offer and running to the bank with the cheque.
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#7999591 - 12/09/14 02:54 PM
Re: WTF? Insurance Payout for Written Off Car
[Re: Senor Eduardo_82]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44797
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How badly was the car fucked up for them to write it off and pay him 26k???
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#7999793 - 12/09/14 04:43 PM
Re: WTF? Insurance Payout for Written Off Car
[Re: 87ZCSi]
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hyper-s2k
Post Master Supreme
Registered: 12/01/05
Posts: 14556
Loc: T dot O dot, Canada
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Most places have that replacement clause for first 24 months. I know that TDMM has up to 5 year replacement clause (it was $20 / year for the first 2 years then something like $100 / year for the next 3) -- you bet I paid for that shit for the wife's car. Drove w/o a care in the world and expect people to hit me [as long as I don't do something stupid like cause an at-fault / partial at fault accident].
I'm surprised they'd cut him a cheque and not offer to replace his car w/ a brand new (equivalent equipped) one.
_________________________
'08 //M3 - now @ 90,xxx km - wtf did i do? '13 x1 - now @ 99,xxx km - a2b car '10 x3 - now @ 123,xxx km - time 2 go? '03 s2k - now @ 80,xxx km - a2a car '08 535i - sold @ 149,421 km - cashed out just in time! '08 impreza 2.5i - sold @ - 64,147 km - smh POS '01 rav4 - killed @ 155,879 km - RIP old friend
"Driving in the snow is like sex. If you want to avoid accidents, abstinence is the best policy. If you're gonna take her for a spin, use protection." - Rick Mercer
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#7999999 - 12/09/14 07:15 PM
Re: WTF? Insurance Payout for Written Off Car
[Re: TheRealCSnapper]
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titty sprinkles
Post Master Supreme
Registered: 08/22/05
Posts: 17192
Loc: Toronto,Ontario
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How badly was the car fucked up for them to write it off and pay him 26k??? you must've missed the part where he said the car in question is a KIA. he should get $35K for the pain & suffering of driving a kia the past couple of years.
_________________________
2019 TLX Aspec
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#8000460 - 12/10/14 07:37 AM
Re: WTF? Insurance Payout for Written Off Car
[Re: titty sprinkles]
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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47669
Loc: T.O. - Canaduh
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How badly was the car fucked up for them to write it off and pay him 26k??? you must've missed the part where he said the car in question is a KIA. he should get $35K for the pain & suffering of driving a kia the past couple of years.
*DEEAAAAAAAAAAAAADDDDDDDED*
_________________________
"Ban low performance drivers, not high performance cars"
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#8001393 - 12/10/14 02:46 PM
Re: WTF? Insurance Payout for Written Off Car
[Re: Wildout]
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titty sprinkles
Post Master Supreme
Registered: 08/22/05
Posts: 17192
Loc: Toronto,Ontario
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New scam. Buy new car and write it of in 24 months. Profit!
buy brand new car 2 days old, hop on highway, go infront of big rig, jump both feet on brakes, get rear ended and claim insurance benefits for the next 10 years
#bramptonbrownpplscams
_________________________
2019 TLX Aspec
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