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Will your auto insurance company pay for repairs if the total amount of repairs is more than what the car is worth?
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Miguel has 500 deductible on his comprehensive insurance policy If his car repairs total 1780.75 what amount will the insurance company pay?
$1280.75
What is Amount payable by insurance company for insurance?
This is the amount paid by the insurance company to the doctor. It is the negotiated rate less the amount that you paid in the form of a copay, a coinsurance, or a deductible.
What happens when a car repair is more than the value of the car?
Typically if the cost of repairs exceeds 85% of the value of the car, the insurance company will offer to total your vehicle, because of the amount of time it takes to complete repairs combined with the labor/processing costs the insurance company incurs, makes it more time and cost efficient for the vehicle to be totaled out. You will receive a check for the actual cash value of the vehicle minus your deductible
What if a car is repaired and later determined a total loss?
The total loss would be paid based on the findings of the insurance company, you can take the money regardless of whether you had repairs done.
Will car be written of by insurance if repairs to high?
Yes, they will total it.
If your car is a total loss will the insurance company help you fix it if you both pay?
If your car is deemed a total loss, the insurance company will only pay up the value of the vehicle. They will have nothing to do with the repairs. If the vehicle is worth $5,000 and the damage is $8,000, you are going to pay $3,000 out of your own pocket. Once the insurance company pays you that $5,000, they are out of the picture. Just be prepared for a 'salvage' fee to be deducted from your settlement by the insurance company. That is what they would have gotten for your vehicle if you had surrendered it to them.
What happens if the repairs to your car costs more than the car value?
Well, You have a problem because your insurance bill would sky high.- Ian BI thought that if a repair is more than the value, the insurance company considers it a total. Why would they pay for repairs that's more than the car value?
How does an insurance company determine if an auto is totaled?
Normally if the estimated damage is 75% of the value of the vehicle, it will be considered a total loss. The reason for this is that there may be hidden damage that only appears after the repairs are initiated. This varies, depending on your insurance carrier.
Are there any benefits if both you and your wife have health insurance?
If both husband and wife are covered in health insurance policy, then they are entitled to a family discount the quantum of which vary from company to company and is deducted from the total premia amount.
How do they determine the amount to pay for a total loss vehicle?
Depends on the insurance company, most use NADA or Kelly used car guides then adjust for high or low mileage. They will also consider recent high cost repairs. New tires and brakes are considered maintenance nit improvements. In some states you have the option of making the insurance company replace your vehicle with the same model year and mileage. The insurance company is out to pay as little as possible so stand hard on your claim. Good luck!!
How do you avoid your car being totaled by the at fault guys insurance company?
You can't really avoid it unless you can find a place that will repair the vehicle at the amount the insurance company says it is worse. They have standards to determine a total loss that must be met.
Insurance does not want to pay me the amount my car is worth afte rthey sateted the car is totaled. What should I do?
I was in an accident that was not my fault. My car was in the shop for three month for repairs, only to find out today that the insurance wants to TOTAL the car. Which is okay with me, but they are saying that the car is worth $12,000 and that the repairs were $8000, and that they are only going to give me $4000. HOW is this possible, I did not make that decision for the car to be rapaired then to be claimed TOTAL loss. What should I do? Please help me.
