Insurance Help - Total? - Page 2 - Toyota 4Runner Forum

MTB@ATX · 03-19-2020, 10:14 PM

The other driver’s insurance company agreed to open up the comparable vehicle range to nationwide to get more V8 Limited 4WD but it didn’t change the numbers significantly. There were insistent it was to be totaled.

I’ve now filed with my insurance carrier - hoping they are more likely to repair it as the damage-to-ACV ratio is only 25% to 50% depending on who’s repair estimate you use. The pillar is not damaged. Drives straight. Both doors are fully operational. Should know the outcome early next week.
Thanks all for the information and insight.

MTB@ATX · 03-24-2020, 08:49 PM

UPDATE: Parts are on order and my insurance company is fixing the vehicle. $2,100 total repair estimate or something in that range. Hopefully I will get my $1k deductible back after they fight with the other insurance company. Just happy to save the truck. Still can’t believe the other insurance company wanted to total it out with $2k in repairs.

ptsailing · 04-01-2020, 07:19 PM

Does anyone go with an agreed value? I would assume this whole mess would be infinitely more complicated if you had a lift kit, snorkel, winch, plate bumpers etc all fitted. The vehicle could be built up to be 3x or 4x the value of what any "book value" would be and yet the insurance company will give you pennies on the dollar.

I am looking at ways to insure my truck so that this sort of thing does not happen....any words of wisdom?

shadow247 · 04-02-2020, 08:59 AM

Stated Value vs Guaranteed Value

Hagerty explains the difference between agreed vs stated value.

Agreed Value is more expensive to insure, because they will pay out whatever you insured the car for.

Stated Value is cheaper, typically used on more expensive cars to provide some protection. You could insure the car for 60k, buy if the market says its worth 30k, thats all you get.

Just get Accessory Coverage on your standard policy. 3000 bucks is like 8 bucks a month with most company, and the value of your accessories is covered at replacement cost.

Muzzle of Bees · 04-02-2020, 07:06 PM

Quote:

Originally Posted by ptsailing

Does anyone go with an agreed value? I would assume this whole mess would be infinitely more complicated if you had a lift kit, snorkel, winch, plate bumpers etc all fitted. The vehicle could be built up to be 3x or 4x the value of what any "book value" would be and yet the insurance company will give you pennies on the dollar.

I am looking at ways to insure my truck so that this sort of thing does not happen....any words of wisdom?

Call your carrier. Insurance coverage is as unique as snowflakes.

MTB@ATX · 04-10-2020, 09:51 PM

Quote:

Originally Posted by MTB@ATX

UPDATE: Parts are on order and my insurance company is fixing the vehicle. $2,100 total repair estimate or something in that range. Hopefully I will get my $1k deductible back after they fight with the other insurance company. Just happy to save the truck. Still can’t believe the other insurance company wanted to total it out with $2k in repairs.

Got the truck back this week. Looks great - no issues. Glad I ended up filing with my insurance. Expect to get my deductible back within a couple of months after they fight it out.

85GT-79FJ40 · 04-11-2020, 02:23 PM

That's excellent news! Insurance companies are why I got out of the collision business. Some are OK but most are awful. Thankfully about the only claims I have to deal with now are hagerty and grundy. Both pretty easy to deal with.

Site Navigation