Re: "Total Loss" lowballing 4553

Insurance company is not obligated to fill the gap but they need to give you enuf to replace the car with equivalent wheels (less the deductible).

Talk to them about your sore back !!!

You seem to be confusing the damage amount with what the car's was worth. If they totaled the car, they would pay her what it takes to buy another car just like it. You seem to hint they gave her $18,000. That is to buy her something to drive. The amount of the damage is not really what they pay for a total loss. Make sense?

The fact that she owed more than the car was worth was true both before and after the accident, and it has nothing to do with insurance or the accident. The problem was already there. The person causing the accident isn't responsible for your sister's money management, no matter how good or how bad.

"Gap Insurance" sounds like a great idea for people that don't have any money. It's better to have money, but hey, if you can't hang onto it, you don't deal with surprises too well.

They should ban people that can't handle money.

messagenews:pW6Ph.10827$yo3.7888@trnddc04...

Now that cars are more expensive, and can be financed for a longer period ot time, this is a common occurance. It is easy to be in a situation where more is owed than the car's market value.

Usually however, Hondas don't depreciate as fast as other makes.

-KM

It was also common 20 years ago. Probably more so today, however.

Depends on whether you are buying or selling, and how badly you need to do one or the other.

I can't believe no-one in this thread has used the common term for this situation, so I'll be the first: It's called being upside-down.

Bill Putney (To reply by e-mail, replace the last letter of the alphabet in my address with the letter 'x')