Next, average those three estimates and any newspaper prices to come up with your own estimate of your car's preaccident value. Then sit on it. When the adjuster makes you an offer, if it's equal to or greater than your average estimate, smile at your good fortune. If the offer is less than yours, pull out your information and insist that he either accept your number or, at the very least, average your number with his. If he balks at that, enlist the aid of your insurance agent.
If a car had a head-on collision but the rear is virtually untouched, the lowest total cost of ownership car is sliced cross-wise along the middle of the side doors. Basically, the broken front half of the car will be sent to the recyclers, while the rear half will be stored in a warehouse.
If you have to finance most of the value of your car purchase, you can probably figure you will have a higher total loan than the book value of your vehicle for some time. In this case, the extra policy will protect your investment in case you have a serious accident and your vehicle is declared a total loss.
Then, on what happens when you total a leased car of an already high price, they require a down payment that normally equals a significant portion of what the dealer paid for the vehicle. Enough said.
Try and determine water level: You must look at water marks and debris to determine how much of the car was submerged. Insurance companies consider the car totaled if the water is above a certain level.
Insurance adjusters do not have the authority to change company policy, but claims managers, litigation adjusters, claims presidents, and vice presidents of claims departments usually do.
Generally people purchase 6 month policies, but you can also get 3 month and 12 month policies. If you plan to retain insurance coverage for the entire year, its best to go with a 12 month policy. By purchasing a 12 month policy, you have the security of knowing that your rates won't rise and that you will be insured for that period of time. If you were to get a 6 month policy, you might see a hike in premiums at the end of that term, and if you made serious claims, your insurer may choose to non-renew you. Not only do you benefit from the lack of stress, but your insurance company may also give you a discount for purchasing their policy for a whole year.