New car in accident- what to expect

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:did you call your agent friday to add car to your policy?

We didn’t (totally didn’t think of it!) but geico has a 30 day grace period, so we should be good. Obvs will remember to do that at the dealership for any subsequent cars. Geico let us add the car right after the accident but it’s taking a little more time because they have to verify the sequence of events.

Not just Geico... you have 30 days to add your car.

Really? When I bought my car a couple years ago I had to show proof of insurance on the new car before they let me drive off the lot.

You had show proof of insurance in general - they need to now that you will be covered. If you already have coverage, you'll get it on the newer.

[Anonymous]

OP are you in Virginia? In VA, once the cost of repairs reach 75% or more of the vehicle's book value (NADA) they'll declare it a total loss.

[Anonymous]

OP of this thread, checking back in. Just heard from our insurance company that it is a total loss. Guess we are going car shopping again this week ☹️

[Anonymous]

Op again- coming for another question. I just looked at our insurance and, while the rep called it a “total loss,” the repair estimate is about $11,000. Anyone know what this would mean? The car cost $35k, so that doesn’t seem like a total loss to me.

I can be patient and wait to talk to the insurance person tomorrow, but want to be prepared if they are saying that’s all we will be reimbursed. That’s totally unreasonable, right?

[Anonymous]

They’ll either auction it off and give you that or go by kbb value at time of accident.

[Anonymous]

Doubtful you’ll get full value of what you just paid for it. Once you drive a car off the lot it depreciates. This is more prevalent for new cars but doubtful with supply and demand that you’re going to see the amount you paid hit close to kbb value. If they totaled it at 11k then you will probably get around 20k for it. If you want more you will have to go through the other person’s insurance company for it unless you have uninsured insurance you might get more.

[Anonymous]

Anonymous wrote:Doubtful you’ll get full value of what you just paid for it. Once you drive a car off the lot it depreciates. This is more prevalent for new cars but doubtful with supply and demand that you’re going to see the amount you paid hit close to kbb value. If they totaled it at 11k then you will probably get around 20k for it. If you want more you will have to go through the other person’s insurance company for it unless you have uninsured insurance you might get more.

We literally bought the car the day before and it was used, so I feel like that would be really unreasonable. We have pretty thorough insurance including collision, uninsured motorist and underinsured motorist.

[Anonymous]

You are dealing with an insurance company -- expect to get screwed.

[Anonymous]

Op here, just circling back with a final update. We ended up getting more for our car (by a couple hundred dollars) than what we paid for it the day before. They actually used the car that was totaled as one of the comps. We had to take a loan to buy a replacement and will pay that off now that we have our reimbursement.

[Anonymous]

Same thing happened to us , hit and run
Car in shop, estimate to fix 10 k value of car 33.
Airbags came out but we don’t get replacement. Waiting on car getting fixed .one month already !