Insurance claims S13 $5500 - Page 2 - Zilvia.net Forums | Nissan 240SX (Silvia) and Z (Fairlady) Car Forum

extra-made garage · 09-01-2007, 02:30 PM

Good stuff on the inside info

gtstwincam · 09-01-2007, 02:43 PM

deleted.
deleted.

hellion240sx · 09-01-2007, 04:29 PM

"if A x B x C = X if X is less than a cost of a recall, we don't do one. "

anyone?

anyway reminded me of the movie. had to watch it again.

"what company you work for?" "A major one"

yeah looking back you added more useful info. thanks for more. also don't get in trouble for posting this info lol. actually, stop posting before my premium goes up!

gtstwincam · 09-01-2007, 07:09 PM

deleted.
deleted.

gtstwincam · 09-01-2007, 07:17 PM

Also,

check your policies for the following

BIPD coverages. For example:

If you have 15/30/5.

The last # represents the coverages your insurance policy will pay for property damage.

So if you rearend a $100k mercedes benz and you total it, your insurance policy will pay $5,000 towards the damage of the mercedes, you have to pay the remaining $95,000.00

If you dont have it, the party you hit can sue you to recover that $95k.

If you are under your parents policy, they can sue your parents and go after assets.

Also, if you total such a $95k mercedes, you also likely injured the person, which will result in additional lawsuit.

It todays world, you need at least $50k since the majority of vehicles out there are around $30k minimum.

If you have assets or your parents have assets, you may want to increase your PD limits to $100k.

You can hit a $100k dollar car or cause a collision with combined vehicles, adding to $100k or more.

Something to think about.......

GoodOl'S13 · 09-01-2007, 08:15 PM

Quote:

Originally Posted by hellion240sx

"if A x B x C = X if X is less than a cost of a recall, we don't do one. "

anyone?

anyway reminded me of the movie. had to watch it again.

"what company you work for?" "A major one"

yeah looking back you added more useful info. thanks for more. also don't get in trouble for posting this info lol. actually, stop posting before my premium goes up!

That was the first thing that came to mind

gtstwincam · 09-01-2007, 10:51 PM

Quote:

Originally Posted by GoodOl'S13

That was the first thing that came to mind

what movie?

focused · 09-01-2007, 11:26 PM

Quote:

Originally Posted by gtstwincam

what movie?

fight club... good movie, and good info from you, thanks.

GSXRJJordan · 09-02-2007, 02:59 AM

Quote:

Originally Posted by gtstwincam

...If you have assets or your parents have assets, you may want to increase your PD limits to $100k...

Something to think about.......

exactly.

Insurance isn't just about being able to register your car and not get a ticket when the officer asks for proof - it's about protecting your assets. At the very least, your job (if you have one) is an asset - if you total someone's car/hurt someone/etc, and don't have enough insurance to cover it, they'll usually just go for "policy", meaning they'll take however much your insurance will give.

If you go waaaay over policy, and have something worth taking (house, good job, etc), they'll sue to take it (make you sell your house, garnish your wages, etc).

This is why I make sure that my coverage is well above my yearly salary.

gtstwincam · 09-03-2007, 10:07 AM

Always carry a "disposable camera" in all of your cars.

A couple of bucks per camera can save you a migrain headache when battling the insurance company.

Photos of the accident scene, both vehicles can speak for itself.

Go buy your disposable cameras!

hellion240sx · 09-05-2007, 09:16 AM

Quote:

Originally Posted by gtstwincam

Also,

check your policies for the following

BIPD coverages. For example:

If you have 15/30/5.

The last # represents the coverages your insurance policy will pay for property damage.

So if you rearend a $100k mercedes benz and you total it, your insurance policy will pay $5,000 towards the damage of the mercedes, you have to pay the remaining $95,000.00

If you dont have it, the party you hit can sue you to recover that $95k.

If you are under your parents policy, they can sue your parents and go after assets.

Also, if you total such a $95k mercedes, you also likely injured the person, which will result in additional lawsuit.

It todays world, you need at least $50k since the majority of vehicles out there are around $30k minimum.

If you have assets or your parents have assets, you may want to increase your PD limits to $100k.

You can hit a $100k dollar car or cause a collision with combined vehicles, adding to $100k or more.

Something to think about.......

so what are the 15/30 for? god thiss insurance thing is crazy! never knew that it was like that.

gtstwincam · 09-05-2007, 10:28 AM

maybe is should be STICKIED before it gets lost in the threads.

snappy · 09-05-2007, 12:16 PM

I believe the 15/30 covers you and any uninsured persons in the cars medically.

JaeTea · 09-05-2007, 12:58 PM

Quote:

Originally Posted by gtstwincam

I work for the second largest insurance company in the US and youre telling me I did not settle a claim for a 1990 240SX for $5500?

Are you saying Im lying?

Nope.

I'm just guessing the FMV in CA is totally wacked compared to the rest of the country, thats all.

Every single insurance claim I've ever heard about, the payment never made up for the money owed on the vehicle. The person always ended up paying out of pocket.

Thanks for all this info though...and maybe take a few days vacation.

gtstwincam · 09-05-2007, 04:32 PM

Quote:

Originally Posted by JaeTea

Nope.

I'm just guessing the FMV in CA is totally wacked compared to the rest of the country, thats all.

Every single insurance claim I've ever heard about, the payment never made up for the money owed on the vehicle. The person always ended up paying out of pocket.

Thanks for all this info though...and maybe take a few days vacation.

Well, you are right. Ive seen some claims where we didnt pay the full amount owed for a vehicle.

For example.

We had a customer purchase a brand new $60,000.00+ BMW.

She totalled it 6 months later.

We paid off the vehicle (to the bank), which was $49,000.00+ FMV.

She still owed the bank the difference.

Remember that vehicles depreciate quickly!

Cars are not a good/wise investment.

Like E40 says, dont buy a $100,000 car before you buy a house.

hellion240sx · 09-09-2007, 12:20 PM

yes sticky this before it gets lost!

freeman · 09-09-2007, 12:23 PM

good info thanks

DJ_Sunrise · 09-10-2007, 05:52 PM

I hit myself in the head while working underneath my car.. I never know about this.. but even with my liability insurance they covered the $5k in emergency room costs. Don't ask what happened. It was bloody.

Thanks for all the tips.. Everything you've mentioned will save more than a couple of us on here. Buying a disposable camera for tomarrow!

-Bart

speed_racerx · 09-25-2007, 03:02 PM

i know im really late on posting these pics

the dimple on the rear bumper cover was also from the accident.

notice that part of the trunk is smashed in(near the rubber plug)

i was rear ended and her insurance wrote me a check for $674.

they estimated the vehicle while i wasn't around. so i think that the adjuster didnt see the damages that was done inside the trunk. on top of that my trunk wont open unless i have something holding up the lever. it wasnt like that before.

gtstwincam · 09-25-2007, 07:16 PM

deleted.
deleted.

LA_phantom_240 · 09-25-2007, 07:59 PM

Awesome info. Any idea what insurance would give me if my s13 'vert got rear ended?

wingsnthangs · 09-27-2007, 11:56 AM

Shouldn't Fair Market Value (FMV) be determined by how much it gets bought at, not how much it gets listed for? If FMV is what your car is worth to insurance companies, can't everyone just theoretically jack up their listing prices?

I guess you can get 3 friends with your same car to list their cars for a ridiculous amt of money, but that's going into fraud territory. Not that I would do it, but I cant imagine how you could get caught.

When insurance companies look at the FMV of a car, how do they determine the cost of modifications on comparable cars? For example, let's say I have a bone stock 93 240SX. I provide 3 listings of 93 240SX's with similar mileages they are all highly modified to determine the FMV of my car. Do insurance companies do research on the modifications to quanitify the value of them?

gtstwincam · 03-18-2008, 10:44 PM

bump for Falkon240

blasting_speed · 03-18-2008, 11:20 PM

Sweet sweet info. Thanks dude. +rep. Adding you to my buddy list.

an_orange_s2k · 03-19-2008, 12:29 AM

awesome information

Kouki-Fiend · 03-19-2008, 04:08 AM

Lots of good info on this , I am subscribing because when it comes to the whole insurance thing there are so many ins and outs. I learned a lot thanks for the info OP. +rep

*S13Boosts* · 03-19-2008, 08:58 AM

Quote:

Originally Posted by iROYAL

thank you, subscribed

same here +1

ichibans13.5 · 03-19-2008, 09:23 AM

tons of good info here - thanks for taking the time to write this up!

sijia10358 · 03-19-2008, 10:05 AM

this is very useful information for people that doesn't anything about their insurance like me!!

240love^_^ · 03-19-2008, 10:09 AM

Hmmm... good to know. Thanks for the advice!

09-01-2007, 02:30 PM	#31
extra-made garage Zilvia Member Join Date: Dec 2006 Location: Atlanta Posts: 238 Trader Rating: (3) Feedback Score: 3 reviews	Good stuff on the inside info __________________ Extra Made Garage Follow us on Twitter: http://twitter.com/emf_distrib 1-888-240-8517 Distributor for Footwerks suspension. email at [email protected] www.footwerksusa.com

09-01-2007, 02:43 PM	#32
gtstwincam Zilvia Member Join Date: Mar 2006 Location: Vallejo, CA Posts: 193 Trader Rating: (0) Feedback Score: 0 reviews	a little more advice.. deleted. deleted. Last edited by gtstwincam; 05-12-2010 at 10:31 PM..

09-01-2007, 07:09 PM	#34
gtstwincam Zilvia Member Join Date: Mar 2006 Location: Vallejo, CA Posts: 193 Trader Rating: (0) Feedback Score: 0 reviews	lastly... deleted. deleted. Last edited by gtstwincam; 05-12-2010 at 10:32 PM..

09-01-2007, 07:17 PM	#35
gtstwincam Zilvia Member Join Date: Mar 2006 Location: Vallejo, CA Posts: 193 Trader Rating: (0) Feedback Score: 0 reviews	Coverages Also, check your policies for the following BIPD coverages. For example: If you have 15/30/5. The last # represents the coverages your insurance policy will pay for property damage. So if you rearend a $100k mercedes benz and you total it, your insurance policy will pay $5,000 towards the damage of the mercedes, you have to pay the remaining $95,000.00 If you dont have it, the party you hit can sue you to recover that $95k. If you are under your parents policy, they can sue your parents and go after assets. Also, if you total such a $95k mercedes, you also likely injured the person, which will result in additional lawsuit. It todays world, you need at least $50k since the majority of vehicles out there are around $30k minimum. If you have assets or your parents have assets, you may want to increase your PD limits to $100k. You can hit a $100k dollar car or cause a collision with combined vehicles, adding to $100k or more. Something to think about....... Last edited by gtstwincam; 05-12-2010 at 10:32 PM..

09-03-2007, 10:07 AM	#40
gtstwincam Zilvia Member Join Date: Mar 2006 Location: Vallejo, CA Posts: 193 Trader Rating: (0) Feedback Score: 0 reviews	Yet another tip: Always carry a "disposable camera" in all of your cars. A couple of bucks per camera can save you a migrain headache when battling the insurance company. Photos of the accident scene, both vehicles can speak for itself. Go buy your disposable cameras!

09-01-2007, 04:29 PM	#33
hellion240sx Zilvia FREAK! Join Date: Nov 2003 Location: NOLA Age: 40 Posts: 1,509 Trader Rating: (0) Feedback Score: 0 reviews	"if A x B x C = X if X is less than a cost of a recall, we don't do one. " anyone? anyway reminded me of the movie. had to watch it again. "what company you work for?" "A major one" yeah looking back you added more useful info. thanks for more. also don't get in trouble for posting this info lol. actually, stop posting before my premium goes up!

09-05-2007, 10:28 AM	#42
gtstwincam Zilvia Member Join Date: Mar 2006 Location: Vallejo, CA Posts: 193 Trader Rating: (0) Feedback Score: 0 reviews	hmmm maybe is should be STICKIED before it gets lost in the threads.

09-09-2007, 12:20 PM	#46
hellion240sx Zilvia FREAK! Join Date: Nov 2003 Location: NOLA Age: 40 Posts: 1,509 Trader Rating: (0) Feedback Score: 0 reviews	yes sticky this before it gets lost!

09-09-2007, 12:23 PM	#47
freeman Leaky Injector Join Date: Nov 2006 Location: socal Posts: 74 Trader Rating: (0) Feedback Score: 0 reviews	good info thanks

09-10-2007, 05:52 PM	#48
DJ_Sunrise Zilvia FREAK! Join Date: Feb 2004 Location: NJ Age: 34 Posts: 1,134 Trader Rating: (1) Feedback Score: 1 reviews	I hit myself in the head while working underneath my car.. I never know about this.. but even with my liability insurance they covered the $5k in emergency room costs. Don't ask what happened. It was bloody. Thanks for all the tips.. Everything you've mentioned will save more than a couple of us on here. Buying a disposable camera for tomarrow! -Bart

09-25-2007, 03:02 PM	#49
speed_racerx Zilvia Junkie Join Date: Sep 2005 Location: Houston Age: 33 Posts: 523 Trader Rating: (6) Feedback Score: 6 reviews	i know im really late on posting these pics the dimple on the rear bumper cover was also from the accident. notice that part of the trunk is smashed in(near the rubber plug) i was rear ended and her insurance wrote me a check for $674. they estimated the vehicle while i wasn't around. so i think that the adjuster didnt see the damages that was done inside the trunk. on top of that my trunk wont open unless i have something holding up the lever. it wasnt like that before. __________________ Aircraft mechanics, so pilots can have heroes too

09-25-2007, 07:16 PM	#50
gtstwincam Zilvia Member Join Date: Mar 2006 Location: Vallejo, CA Posts: 193 Trader Rating: (0) Feedback Score: 0 reviews	damage deleted. deleted. Last edited by gtstwincam; 05-12-2010 at 10:33 PM..

09-27-2007, 11:56 AM	#52
wingsnthangs Zilvia Junkie Join Date: Apr 2002 Location: Southern CA Posts: 577 Trader Rating: (0) Feedback Score: 0 reviews	Shouldn't Fair Market Value (FMV) be determined by how much it gets bought at, not how much it gets listed for? If FMV is what your car is worth to insurance companies, can't everyone just theoretically jack up their listing prices? I guess you can get 3 friends with your same car to list their cars for a ridiculous amt of money, but that's going into fraud territory. Not that I would do it, but I cant imagine how you could get caught. When insurance companies look at the FMV of a car, how do they determine the cost of modifications on comparable cars? For example, let's say I have a bone stock 93 240SX. I provide 3 listings of 93 240SX's with similar mileages they are all highly modified to determine the FMV of my car. Do insurance companies do research on the modifications to quanitify the value of them?

03-18-2008, 10:44 PM	#53
gtstwincam Zilvia Member Join Date: Mar 2006 Location: Vallejo, CA Posts: 193 Trader Rating: (0) Feedback Score: 0 reviews	bump bump for Falkon240

03-18-2008, 11:20 PM	#54
blasting_speed Post Whore! Join Date: Jan 2008 Location: Treno di mezzanotte di amore Posts: 2,593 Trader Rating: (8) Feedback Score: 8 reviews	Sweet sweet info. Thanks dude. +rep. Adding you to my buddy list. __________________

03-19-2008, 12:29 AM	#55
an_orange_s2k Zilvia FREAK! Join Date: Nov 2007 Location: SF Bay Area - Mile High Denver Posts: 1,555 Trader Rating: (19) Feedback Score: 19 reviews	awesome information

03-19-2008, 04:08 AM	#56
Kouki-Fiend Leaky Injector Join Date: Nov 2007 Location: Fort Hood, TX Age: 36 Posts: 135 Trader Rating: (0) Rides Gallery: Kouki-Fiend Feedback Score: 0 reviews	Lots of good info on this , I am subscribing because when it comes to the whole insurance thing there are so many ins and outs. I learned a lot thanks for the info OP. +rep __________________ 95 240SX KA - S14 Blacktop sitting in garage

03-19-2008, 09:23 AM	#58
ichibans13.5 Leaky Injector Join Date: Aug 2007 Location: MA Posts: 130 Trader Rating: (4) Feedback Score: 4 reviews	tons of good info here - thanks for taking the time to write this up!

03-19-2008, 10:05 AM	#59
sijia10358 Zilvia FREAK! Join Date: Nov 2005 Location: SoCal! 626! Age: 31 Posts: 1,075 Trader Rating: (4) Feedback Score: 4 reviews	this is very useful information for people that doesn't anything about their insurance like me!! __________________ [email protected] TIRE CENTRAL "DONALD" 626-227-0150 DRIFT SPEED "QUOC" 562-342-9000

03-19-2008, 10:09 AM	#60
240love^_^ Zilvia Addict Join Date: Jan 2007 Location: 805~626~562~714~818~310~831 Posts: 621 Trader Rating: (0) Feedback Score: 0 reviews	Hmmm... good to know. Thanks for the advice!

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