Hey everybody, i've got a quick ? lets say i've wrecked my 01cls it has 58,000

miles on it...and its totaled out....how much would the insurance company give

me? would they give me how much our car is worth in the kelly blue book??

anybody know how this works??

 

insurance and dealers go by NADA prices, usually the insurance company will give you retail for it. i did the calculation in my area and the retail is 17000 and the trade in is 14500 so if they want to give you trade in maybe you can compromise and go at 15750.

 

Go here: http://www.nadaguides.com/gen/select...1^itemid=27209

 

Closer to 14k, but you never know.

 

I work for an insurance company and we do not use NADA guides but the NADA gives a close guess. We use a 3rd party company to run a market surveys on comprable vehicles. I wound not expect to get retail for your vehicle but if you are unhappy with the settlement amount only accept that as an undisputed amount and then get things like auto trader quotes for other CL's with similar miles etc that are closer to a value you were expecting. I hope this helps

 

really, every dealer that i went to uses nada and so does my insurance. well i guess they can use what they want.

 

The insurance company would probably offer you below any of the guide prices and will see if you'll sign off on that offer. If you refuse, they will counter offer with a price that's more in line with the prices listed in the guides.

At least that has been my experience when dealing with a totaled vehicle.

Hmm... nada lists my 03 6spd at 18K...

 

They will usually use something similar to the AWV or actual wholesale value. Most NADA books list this price. I think they would offer you $13k.

 

That's true. Insurance companies will pay the market value of a vehicle ( what the car is actually selling for). retail value is just a suggested asking price at a dealership, not what the car is actually selling for.

 

insurance companies are thieves. they ain't don't want to pay you fo wut yo car worf!

 

^^ esp. when someone submits a claim in some unintelligible gibberish they refer to as English