If your car is totaled.

[jayson71]

I have been seeing too many posts about the Camaros getting totaled. We lost ours back on 6/4/09 a short 28 days after we purchased it(see pics and yes everyone is okay).

Everyone who owns one of these beauties needs to understand what the insurance companies will try when you make a claim.

Tell you that once the car leaves the lot the value drops X amount. FALSE

Some will offer to repay the entire purchase amount. This is good except the value should be determined by the fair market value of your vehicle. This is done by comparing the sale price of similar cars. Which as everyone knows, if you walk on to a lot right now you will pay the added dealer mark up sometimes as high as $15k (tire rotations included for life)

I have had considerable success with my insurance company by pushing back and demanding they pay the "Fair Market Value". The settlement for my car was actually higher than the amount I paid due to the dealer mark ups paid by others. This is not insurance fraud or dishonest. You all know you could sell your car for more than you paid, why would you settle for less than this if the money is coming from an insurance company?

I have included a letter from my insurance company informing me their car buyers program could not replace my car as it was too hard to find inventory. I did not ask for my wife to get creamed by an idiot, she does not enjoy the physical therapy, and I surely did not like the POS rental car while I located another vehicle. Please feel free to contact me via private message if you have the misfortune of needing any of the documentation or research I have done.

[firestone_ss]

i agree with you i started a thread in the mods section for wrecked camaros,i figured that way all of us who have been through it can share info on ins claims,diminished value and repair work so i hope more people join in.

[ljustin293]

wow...sorry for your loss(car) but it's good to see everyone is ok.. I hope all works out for you

[Camaro_Corvette]

For crying out loud is there a freaking target on these camaros or what!

[Epitaph]

thats good for you that you didnt let them push you around!
too many people dont think that they can get what is rightfully theirs...
worst case scenario: the idiot that hits me is paying all medical bills, as well as any increase in rates over the next few years. im going to have a new car as well, one way or another.

[MustangSlayer10]

This is why people should never pay the "mark up". Because you can have it for one day and it can get totaled the next.

[v6sonoma]

Originally Posted by camaro_corvette

For crying out loud is there a freaking target on these camaros or what!

It must be all the battling decepticons while we sleep thats causing the damage.

[Andro]

Sorry bout the car. USAA is a great insurance company I've been with them for over 6 years now.

[CWI]

That's why after seeing several Camaros that apparently had kamakaze targets on them, made sure i got GAP insurance. If it works the way it's supposed to, it will pay the difference between what you owe and and any deminished value. Worth the 500$

[SoloSK71]

In Canada you want to make sure you have SEF Number 43R - Limited Waiver of Depreciation which covers you for the cost of replacement with new OR the value you signed on the paper with the dealership, whichever is less.

Does not cover what you may have paid at the dealership but at least you did not get that BS 30% instant depreciation.

- SK

[BlueMarlin]

what is arability?

Glad to see you're OK after that accident, that sucks about the insurance trying to put the screws to you, good thing you resolved it.

[The_Blur]

It is good to see that you went against the machine in search of equity. Insurance, from my perspective, is a necessary evil. None of us can afford to replace another car out of pocket if we destroy one, so we pay small amounts to a company, gambling that we'll need the services offered someday. When we do need those services, they reluctantly offer as little as possible and work hard to make our already preposterous rates go up. If we never hit anyone, we are paying for nothing. If we do hit someone, we'll end up paying for it when our rates increase. Insurance has always been a sort of scam, and for some reason the criminals in the insurance system are the ones who manage to profit by enduring extreme injury or loss. I'm glad to see that you had your way with the system.

[songsj]

I have been seeing too many posts about the Camaros getting totaled. We lost ours back on 6/4/09 a short 28 days after we purchased it(see pics and yes everyone is okay).

Everyone who owns one of these beauties needs to understand what the insurance companies will try when you make a claim.

Tell you that once the car leaves the lot the value drops X amount. FALSE

Some will offer to repay the entire purchase amount. This is good except the value should be determined by the fair market value of your vehicle. This is done by comparing the sale price of similar cars. Which as everyone knows, if you walk on to a lot right now you will pay the added dealer mark up sometimes as high as $15k (tire rotations included for life)

I have had considerable success with my insurance company by pushing back and demanding they pay the "Fair Market Value". The settlement for my car was actually higher than the amount I paid due to the dealer mark ups paid by others. This is not insurance fraud or dishonest. You all know you could sell your car for more than you paid, why would you settle for less than this if the money is coming from an insurance company?

You lucked out for several reasons that won't always apply to everyone.

1. You are right, fair market value right now could be more than you paid for the car because of mark ups. This will not always be the case.
2. I'm assuming your car had very very few miles on it, this again will not always be the case some people may total their car with several thousand miles on it.
3. There is very little new and virtually no used inventory out there right now, again this will change.
4. Some insurance companies are selling ploicies with full replacement coverage for the first year. This could make a difference.

I'm glad you came out well and posted good information but it will not always apply to eveyone. Way too may variables.

[69 Hugger]

Damn, Did this idiot even touch the brake pedal ? Can't believe how many camaros have been hit,smashed,totaled, Glad she's going to be ok.