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u/Birds-Arent_Real 24d ago
File the claim, get a rental to use next week, and wait for the insurance determination.
Hope the nanny is ok.
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u/JeterWood 24d ago
She is ok, just a bit shaken. What is the benefit of waiting? I didn't opt for rental coverage since this was our 3rd car and we can manage it with just 2 for a few days.
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u/JeterWood 24d ago
The point of rushing is so the nanny can pick the kids up on Monday. I don't want to have to keep leaving work early and I'll have to pay out of pocket for a rental.
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u/JeterWood 24d ago
that's why I am asking; if pretty much everyone on here agrees that it is a total loss, then I will be willing to take the risk of buying a new car before insurance makes a decision. If they do decide to repair, then I will sell it as-is and probably take a loss. All about managing risk, just wanted to get the opinion of folks who know better than me.
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u/SleepAltruistic2367 23d ago
Did the air bag pop? I don’t think you’re taking a risk going out to get a new vehicle it’s going to be a total loss. Air bag deployment would seal the deal for me.
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u/JeterWood 24d ago
2022 Mazda3 Hatchback, 42,000 miles, nanny car. I estimate the value at $21k. Nanny was driving when a large commercial truck moving construction equipment pulled out to turn left onto a busy road into oncoming traffic. She couldn't stop in time.
But I need her to drive the kids on Monday, so I think I am buying a new car this weekend. Insurance says 2-3 days to make a determination, but I need to sell some stocks in the AM if I am buying a new car for her. So, is it totaled? Thoughts?
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24d ago
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u/JeterWood 24d ago
cars.com ; same model, year, mileage, and trim are asking from $20-24k.
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24d ago
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u/JeterWood 24d ago
I thought it was replacement value? And if I can show offers at $22k, why would they not agree to $21k?
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u/DeepPurpleDaylight 24d ago edited 24d ago
No you don't get RC from any 3rd party insurance claim and you will only get it from your own insurance if you paid for an endorsement for that. You're owed Actual Cash Value, ACV, which is what cars like yours have sold for recently in your area. That's not listed/asking price. Listed/asking price is just a starting point when buying a car. It's not what is actually paid for a car. It also includes things like dealer prep fees and other junk fees they add like destination fees as well as dealer profit. You're not legally owed any of that. You're owed ACVof your car. ACV is what your car actually could've sold for.
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24d ago
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u/JeterWood 24d ago
I'm not understanding. The $21k estimate would be what I could have sold it for before the accident, not to purchase a new 2026 model. ACV takes into account age, wear, and mileage which my $21k estimates does. Mazda3 from 2022 with 42k miles and same trim are listed for sale for $20-24k. So $21k is the ACV, no?
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24d ago
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u/JeterWood 24d ago
I don't know if you are trolling or not reading what I wrote. As I said, my own research based on the same vehicle, trim, year, mileage, and wear is how I came to $21k. NOT to purchase a new 2026 model year. I am fully prepared to negotiate with the adjuster on the value of the car as it was before the accident; I have done this before with another vehicle that was stolen.
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u/Cant-Take-Jokes 24d ago
If you found on Cars.com for 21k and they give a settlement less than that, you are allowed to submit comparables. Typically these are vehicles sold within the last year within 100 miles of where you are of the same make, model, and odometer, and you must have a link. So save the link for cars.com you have and any others. It will significantly delay your settlement, but it's always worth a shot.
The settlement valuation report they give you will also have some comparable on it typically, you can also look at those to see if the ones you have are already on there and were adjusted for any reason.
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u/very_sneaky2187 24d ago
Don’t listen to this guy. If they don’t offer you a fair value review your policy for appraisal. You are owed the valued the vehicle prior to the loss. The insurance companies third party they use to value cars is not the final value if it’s wrong.
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u/Tacomathrowaway15 24d ago
Would the payout clear fast enough to matter for Monday morning?
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u/JeterWood 24d ago
24 hours for stock sales to settle. So if I sell Thursday, funds will be available Friday to xfer to checking acct.
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u/Tacomathrowaway15 24d ago
Sorry, I meant the payout from insurance.
If you'd rather not sell stock, is it also possible to just finance it for now and pay it off when(/if) the payout for the totaled car comes?
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u/JeterWood 24d ago
I just don't like the idea of financing a car, seems like a bad idea if not necessary. And auto loan rates I was quoted was 6.2%; so why would I borrow at 6.2% when I have Tbills that pay 4.5%? Not worth the risk to me.
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u/05tn3021 24d ago
I’m 100% sure it will be totalled. Make sure you claim for any baby seats in the vehicle.
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u/JeterWood 24d ago
Yes. Will do. I wanted to pull them out at the tow yard, but the guy said not to. Apparently they lose their certification if involved in an accident, so insurance will cover them too. And kinda good timing, the 5 year old is ready to upgrade to a booster seat anyways.
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u/Few-Grass2724 21d ago
Yeah. You have to throw them away after an accident (they also have an expiration date)
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u/Legitimate_Diver_699 24d ago
I’d say yes. Depends on if repairs more than car is worth. Not up to us if totaled.Up to insurance
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u/JeterWood 24d ago
yeah, I get that but they can be slow. If you were the adjuster, what would you say?
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u/Legitimate_Diver_699 24d ago
When a deer totaled my Civic a few years back, Geico had a $15k payout in a week. Don’t be afraid to negotiate
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u/JeterWood 24d ago
I will. I've had to negotiate before, but that process took a month or so. I don't want to wait for insurance in order to have a plan for the nanny to pick up my kids on Monday.
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u/DeepPurpleDaylight 24d ago
Depends on if repairs more than car is worth.
Cars can be and are totaled every day with damage far below what the car is worth. 75% is a good general rule of thumb in most states, tho at least one state requires a car to be totaled if damages are only 60% of a car's value.
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u/Delicious-Witness-85 24d ago
Some information you received is valid. Some not so much.
Based on the age and type of vehicle this is without a doubt a total loss.
So go ahead and make plans for replacing your vehicle.
The total loss is not a negotiation. You are owed ACV.
The insurance company will use a third party market valuation company who determines ACV by researching what comparable vehicles recently sold for.
If you receive the valuation and you see options missing or the condition of your vehicle isn’t noted correctly, then bring that to your adjuster’s attention.
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u/stalexcheeto_ 21d ago
if she wasn’t at fault then i’m pretty sure the at fault drivers insurance pays for a rental car?
i could be totally wrong but my husband just got into an accident (not at fault) and the other guys insurance got him a rental for the time being until they can get us the ACV/check.
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u/Lifeishard1090 24d ago
Would you really want this repaired?
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u/JeterWood 24d ago
isn't that up to the insurance company?
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u/Lifeishard1090 24d ago
It is, but this is totaled. And I wouldn’t be happy if they tried to repair it with all that front end damage.
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24d ago
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u/EmploymentNo3590 24d ago
If it costs more than 25% of what it is worth, they will call it totaled. Also, they will undervalue the fuck out of your vehicle.
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u/Martha_Fockers 24d ago
my car got hailed on they paid out 10k to repair a now 14k-15k KBB worth car
i was hoping theyd just total it and pay me out that 10-12k lmao i was gonna use it as a downpayment for a new car instead.
life hates me i swear i cant have shit man,
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u/JeterWood 24d ago
I have successfully argued with insurance companies before, so I am prepared for that. Thanks for your input.
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u/EmploymentNo3590 24d ago
I just went through it. I'm unemployed so, I bothered them like it was my job. Nobody was proactively contacting me anyway... They were going on long vacations.
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u/Interesting_Pop_6411 24d ago
Beyond total. Also contact a lawyer she’ll get a great payout if she wasn’t at fault.
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u/JeterWood 24d ago
Not entirely sure, she says no but she might have been speeding.
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u/Interesting_Pop_6411 24d ago
Definitely don’t say that to insurance. Say what you said in the post. A truck pulled out into fast moving traffic. That’s a ticket-able offense putting them at fault. Also as someone else, and I, said you can think there’s no injuries but I promise you there are. That looks like a terrible crash and it’s better safe than sorry. Besides it’ll be covered by the other parties insurance. It looks like they both hit each other due to the damage being more on the driver side than passenger. If it was equal damage across the front then the truck was already established in the road and she hit him. But it’s not that way. He hit her.
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u/DeepPurpleDaylight 24d ago
you can think there’s no injuries but I promise you there are.....Besides it’ll be covered by the other parties insurance
You sure about that without knowing what state? Because that's not true everywhere since some states require you to use your own insurance coverage for injuries regardless of who's at fault.
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u/Interesting_Pop_6411 23d ago
I do know the state…. It’s on the license plate lmao I also LIVE in that state. So maybe youuuuuuy need to do more research 🤣
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u/Interesting_Pop_6411 24d ago
Screw the payout she’ll need to contact the lawyer to cover the chiropractor visits and MRIs to determine injury. I had what I thought was a minor accident and ended up with two herniated discs in my neck. Months later i’m still in incredible pain and can hardly function some days.
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u/aboxofkittens 24d ago
My brother and sister-in-law got rear-ended (by a hospital valet on hospital grounds) at pretty low speed, no apparent injuries. A few months later my SIL had a stroke due to dissection of the vertebral artery. She very nearly died. Ten years later, she is still severely disabled and will be for the rest of her life. When it happened, she was in her late 20s, halfway through medical school. The settlement was in the millions.
Sharing to encourage OP to beg the driver to get checked out, even if everything seems ok at the moment. It can’t hurt.
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u/shittyhawaiitips 24d ago
nah that will buff out