HELP...how to deal with insurance???

[duratothemax]

Alright so my S4 is now officially totaled.

Long story short I drove through a puddle on a main road and hit it "just right" that it was that one-in-a-million chance that water splashed up in the fender JUST-SO...engine sucked in water, hydrolocked and threw a rod.

Considering the rarity of the cars and low production-number of the engine (4.2 V8), the cost of freighting a new engine over from Germany and having it installed exceeds the total value of the car. So insurance totaled it. Sucks cause there was nothing else wrong with it, I loved that car.

Right now its at the Audi dealer. Insurance called me today saying its totaled and they will get back to me tomorrow with what they are going to give me for it. Its a 2004 and has 106k miles, no accidents, and im only the second owner.

They say I have until thursday, and then they will stop paying the "storage fees" at the dealer. I assume that doesnt mean I "HAVE" to make up my mind and accept their offer and sign over the title by then, but I just have to have it out of the Audi dealer by then. How long do I have until I have to either accept their offer and give them the car, or accept their offer and buy it back??

When insurance gives you a value, is that it? Or can you say "um no thats ridiculous, the car is worth more than that"??? Im also considering buying back the car because a guy on one of the Audi forums PM'd me and said he would be interested in buying it "as-is". That would be more desirable, because then at least Ill know the car is going to be brought back to life and isnt just going to be cut up at a junk yard. They didnt make all that many of these cars so it would be a shame to see it wasted when "all it needs" is a new engine.

The other thing that im confused about the the deducatable. My comprehensive coverage deductable is $500. My collision deductable is $1,000. "flood/water damage" (which I guess this technically is, because there wasnt an accident/collision) is covered under COMPREHENSIVE, not collision. So why did the lady tell me today that "we'll be giving you a check for the value of the car minus $1,000 deductable". I questioned that and she said that she would look into it. Huh.

Any ideas/advice what to do? Ive never had to deal with insurance before so Im in the dark here and dont want to be taken advantage of.

Its esurance, by the way...

thanks
Ben

 

[Bustedknuckles]

So theres no way to get an engine? That sucks I was looking to get a ~2006 s4 or a4 this spring. I may have to reconsider.....

 

[Mike L.]

Bet they will pay for a good used engine.

 

[TheBac]

There are a a few 4.2 engines for sale on Car-part for around $5K. You need to know how much they going to give for the car exactly, and how much can you buy it back for to see if its worth it for you. Do your own research, then stick to your guns, and dont take the first low-ball offer from insurance.

It should fall under your comp, not your collision. You didnt physically hit anything.

On Edit, KBB had the following private party values for a 2004 Audi S4 with auto trans and only options they checked off: Excellent $14560, Good $13610, Fair $12060
Your values may be higher due to NorthEast cost of living, though.

Good luck, Ben.

 

[BlkMax]

Bummer

I've been through a few of these....

If there was no collision, then it is covered under comprehensive. Your deductible should be the $500.00.

You can always negotiate....the insurance companies are in business to make money, not be a charity (and they do pretty well most of the time). The value will probably be based on NADA or KBB. There is not a lot of room, you usually end up arguing over the condition of the car (poor, ok, good). The mileage is on the odometer, so no room there....

What you may try is to find other cars that are like yours and being listed. You may be able to get some more $$ out of it being "rare", but it will take work on your part. They will not do it for you.

The other thing you can negotiate is the salvage value, but you typically cannot play it both ways. If they lowball the total value, then you should lowball the salvage value. If they give you more $$ for the car, expect a higher salvage value.

If you think you are totally getting screwed, then get a lawyer if the value of the car is worth arguing. When I have been dealing with medical issues, the insurance company will usually come around when I start talking about getting counsel.

Best of luck...

 

[duratothemax]

So theres no way to get an engine? That sucks I was looking to get a ~2006 s4 or a4 this spring. I may have to reconsider.....

no no you can get a new engine, but its like 12-13k, plus install. Or you can get used engines for about half that.

This failure was not the fault of the engine. I drove through a huge puddle and must have hit it "JUST RIGHT" so it sucked up water somehow. Ive hit much bigger puddles than this puddle before and had no problems. Bad luck I guess.

There is no doubt that maybe this spring Ill get another S4. There is nothing like the sound and feel of a big naturally-aspirated torquey V8 in a small car that can be thrown around corners, stopped on a dime, and driven all year round...unlike a BMW. (all S4's are all-wheel-drive)

Definitely take one for a test drive. Once you sit in the sweet Recaro seats and hear the engine as it starts up I guarantee you wont be able to resist buying it. The cars are so much fun to drive and throw around yet dont feel "tinny" or vulnerable like other small awd sports cars such as a STI, Evo, etc... You sit in the thing, shut the heavy door and you literally feel like you're in a vault. Its the only "smaller" car ive ever felt truly safe in, which is the other reason why I liked it so much. Some guy on one of the audi forums recently (was driving wayyy too fast) lost control of his 2007 RS4 in a huge rainstorm and slammed into a concrete bridge abutment and then a guardrail at 80mph. He and his passenger walked away and while the front end was unrecognizable, the passenger compartment/structure didnt change at all...all the glass was intact and all 4 doors still opened and closed properly as if nothing happened.

I love my truck, but there really is nothing else like a "high-performance" german car. (I put that in quotes because its a lot more performance than an A4, but not as much as an RS4) Ive been kinda looking around for another one, but need to save some more money first.

 

[duratothemax]

There are a a few 4.2 engines for sale on Car-part for around $5K. You need to know how much they going to give for the car exactly, and how much can you buy it back for to see if its worth it for you. Do your own research, then stick to your guns, and dont take the first low-ball offer from insurance.

It should fall under your comp, not your collision. You didnt physically hit anything.

On Edit, KBB had the following private party values for a 2004 Audi S4 with auto trans and only options they checked off: Excellent $14560, Good $13610, Fair $12060
Your values may be higher due to NorthEast cost of living, though.

Good luck, Ben.

Around here, NADA Excellent is a little over 16, good is like 15ish, and fair is 14ish. Kind of funny considering the car is "only" an 04 and the original sticker was like 52k and change in 2004. Depreciate much? haha. Mine is a 6-speed manual which is valued higher than the automatics.

I guess I wont know for sure until tomorrow when they give me an offer. Thats what I wasnt sure...if they give you a price, if you HAVE to accept that.

 

[jon5212]

That is most definately a comprehensive claim unless you actually "Collided" with the ground and also sucked up water.
Tell them it is most definately comprehensive, if it is not changed you can call the Connecticut department of insurance or ask to speak with a supervisor.

2nd. To the storage, there is no time frame to "settle" however the most definately will stop paying for storage and a rental car.

3rd. Your policy most likely pays actual cash value, they should run an evaluation with a company that determines the actual cash value.

To get a round about number for that value look up the trade in price under KBB and NADA guides.

And getting a lawyer for a property damage case is going to get you nowhere. Ontop of a 1000-1500 buck retainer they may get you another thousand on the value... then they will probably take 33% of the "Win" you are screwed either way.

Also BIG thing here...
PER Connecticut Law... the 2 approved sources on determining Actual Cash Value is the average between 2 sources of values. For instance Kelley Blue book and NADA... they will most likely use trade in value.

You should see what they offer for keeping the vehicle minus salvage and then just keep the car and put a used motor in it.

 

[McRat]

Claim payments are negotiable, but have some evidence to back up your value estimate.

You can even negotiate to keep the totaled car + money:

"I believe the car is worth $10,500 based on the average used sales in this area that I have attached. I am willing to buy the totaled car for $3,500."

I did this with a Nissan Maxima years ago insured with Auto Club. I sold the car for more than the "buyout".

 

[Chevy1925]

Your in for a decent fight ben. went through something similar with the red light runner that him me but i delt with his insurance, not my own. Either way, if you dont like what they are doing to you, fight it. They are trying to get bottom dollar out of you and if you dont feel its fair, it probably aint.

 

[S Phinney]

If it wasn't for bad luck some of us would have none at all. I feel you Ben. Good luck with the insurance mafia.

 

[custom8726]

All good advice above ^^ The only thing I can think to add is in N.Y. you do not get the option you once did on the salvage/buy back.. If you have a balance on the car/truck (Bank Loan) you can NOT buy back your totaled vehicle from the insurance company. If you own the car out right you are offered the option to buy your wrecked vehicle back.. Not sure if its the same were you are Ben but I was seriously disapointed when I rolled a truck a few years back and was refused the option to buy it back Good luck man :hug:

 

[bean]

When I totaled my LLY the insurance offered 26.8k. I told them hell no! I sent them values of other similar vehicles for sale in my area and made sure they used exact comparisons. Long story short I settled for 32.3k which was a whole lot better than their first offer.

 

[GMC_2002_Dmax]

Ben,

Check with a lawyer, you own the car, not the insurance company as you have title to it.

The car is your property not the insurance companies, very different if you have it bank financed as the insurance company's and bank(sters) are in bed with each other.

You do not have to buy back something you already own.

Insurance company's pull this all the time, Oh, we will give you blue book but if you want the car we need "X" $$$ so you can buy back from us what "YOU" already own.

Bullshit, most people fall for it, they want the car to sell/send to a salvage auction or dismantled for parts. They will then put all those used parts on other cars and the merry go round keeps turning.

It's yours, you have the title, they do not, so unless you surrender ownership the car is yours.

Keep it and part it out.

Good Luck

 

[jon5212]

^^^ Except for the fact that insurance is in business to make money. If you've paid 1,000 bucks in premiums and then you have a claim worth 12 grand... they are losing money. If they take ownership of the car to "sell" it at auction they are trying to recoup their out of pocket expense. The salvage price can be negotiated.

However you won't get a "0" dollar buy back especially if you have an AT fault accident cause if the accident is your fault you just cost a company a LOT of money.

The salvage buy back is a standard practice across the board... running to an attorney is usually a waste of time and more money... plus the fact at least in my position as a claim handler when people do that guess what we don't talk to that "customer" anymore we can only talk with the attorney and 99% of attorneys understand how insurance laws work.

Ontop of the fact that "You" are the one without a running vehicle.
You catch more flies with honey than vinegar.

 

[duratothemax]

Ben,

Check with a lawyer, you own the car, not the insurance company as you have title to it.

The car is your property not the insurance companies, very different if you have it bank financed as the insurance company's and bank(sters) are in bed with each other.

You do not have to buy back something you already own.

Insurance company's pull this all the time, Oh, we will give you blue book but if you want the car we need "X" $$$ so you can buy back from us what "YOU" already own.

Bullshit, most people fall for it, they want the car to sell/send to a salvage auction or dismantled for parts. They will then put all those used parts on other cars and the merry go round keeps turning.

It's yours, you have the title, they do not, so unless you surrender ownership the car is yours.

Keep it and part it out.

Good Luck

Yeah but they wont (under any circumstances) give me a settlement check until I sign the settlement agreement and send them the title though......

Im negotiating the final settlement with them now. After Ive negotiated enough and gotten the price as good as its gonna get, then Ill ask what the buy-back is.

 

[GMC_2002_Dmax]

^^^ Except for the fact that insurance is in business to make money. If you've paid 1,000 bucks in premiums and then you have a claim worth 12 grand... they are losing money. If they take ownership of the car to "sell" it at auction they are trying to recoup their out of pocket expense. The salvage price can be negotiated.

However you won't get a "0" dollar buy back especially if you have an AT fault accident cause if the accident is your fault you just cost a company a LOT of money.

The salvage buy back is a standard practice across the board... running to an attorney is usually a waste of time and more money... plus the fact at least in my position as a claim handler when people do that guess what we don't talk to that "customer" anymore we can only talk with the attorney and 99% of attorneys understand how insurance laws work.

On top of the fact that "You" are the one without a running vehicle.
You catch more flies with honey than vinegar.

So explain to me how I own a vehicle 100%, no lien, no loan and have clear title to it. I insure it for loss and it gets totaled and I get an offer of what it's worth less my deductible of coarse, isn't it still mine, I have a contract that I get paid for my loss, so where does it say in my contract/policy that I have to surrender my property to get paid for my claim and then I have to buy it back ???

I also have six vehicles so I am not your average "at your mercy" desperate customer who would be willing to accept a shitty offer just to get into a car ASAP.

So it's a deal with the devil when your car get's totaled ??? You just have to suck it up so the greedy insurance companies can take your property and then you have to pay the devil their asking price to buy your own property back.

Sounds to me like a scam on the consumer to me.

Just my $02

BTW, how did that Hurricane treat ya...............lots of losses being paid out ????

:hug:

I hate insurance companies, always trying to scam the people that pay the premiums in out of something.

 

[GMC_2002_Dmax]

Yeah but they wont (under any circumstances) give me a settlement check until I sign the settlement agreement and send them the title though......

Im negotiating the final settlement with them now. After Ive negotiated enough and gotten the price as good as its gonna get, then Ill ask what the buy-back is.

I found this on a lawyers web site

http://www.infolaw.com/Answering-Your-Questions/How-Insurance-Companies-Settle-Cases.shtml

"Be aware that storage fees for "totaled" vehicles are very expensive and the insurance company that is paying your claim may not pay for excessive storage fees. The insurance company that pays you for a totaled vehicle has the right to take possession of the vehicle and vehicle title papers so that it can promptly remove the vehicle from storage and "salvage" it. If you chose not to turn over a totaled vehicle, the insurance company will deduct the salvage value from the fair market value."

So I am guessing your car is worth next to nothing when they pay the claim, unless you want to buy it back, then it's worth a lot.........:roflmao:

If the Blue Book is say worth $12K and it's got $10K in damage thus totaling it then you should be able to buy it back for $2K right, because that is all it's worth ???

 

[jon5212]

So explain to me how I own a vehicle 100%, no lien, no loan and have clear title to it. I insure it for loss and it gets totaled and I get an offer of what it's worth less my deductible of coarse, isn't it still mine, I have a contract that I get paid for my loss, so where does it say in my contract/policy that I have to surrender my property to get paid for my claim and then I have to buy it back ???

I also have six vehicles so I am not your average "at your mercy" desperate customer who would be willing to accept a shitty offer just to get into a car ASAP.

So it's a deal with the devil when your car get's totaled ??? You just have to suck it up so the greedy insurance companies can take your property and then you have to pay the devil their asking price to buy your own property back.

Sounds to me like a scam on the consumer to me.

Just my $02

BTW, how did that Hurricane treat ya...............lots of losses being paid out ????

:hug:

I hate insurance companies, always trying to scam the people that pay the premiums in out of something.

Its not buying it back per say... When you are paid for the "Total" loss of your vehicle they are giving you what the cash value of the car is worth.
If you keep the car there is a good chance you will also make money on TOP of your total loss.

Having insurance/claim is not to MAKE money... it is to pay for your loss.
If you get paid 12 grand for your car and keep it then make 6 grand on parts you've just received MORE than what you were entitled to.

Hence why they charge a salvage price if you want to keep the vehicle.

You also have to understand that it is a contract with terms and conditions in it.

Do you think you could call your mortgage company and say well I don't want to pay my 1200 a month payment so I'm going to pay 200. They'll tell you to fly a kite and quickly boot you out of the house

And also if you hate insurance so much... why do you carry it? Oh to cover your ass

 

[GMC_2002_Dmax]

Its not buying it back per say... When you are paid for the "Total" loss of your vehicle they are giving you what the cash value of the car is worth.
If you keep the car there is a good chance you will also make money on TOP of your total loss.

Having insurance/claim is not to MAKE money... it is to pay for your loss.
If you get paid 12 grand for your car and keep it then make 6 grand on parts you've just received MORE than what you were entitled to.

Hence why they charge a salvage price if you want to keep the vehicle.

You also have to understand that it is a contract with terms and conditions in it.

Do you think you could call your mortgage company and say well I don't want to pay my 1200 a month payment so I'm going to pay 200. They'll tell you to fly a kite and quickly boot you out of the house

And also if you hate insurance so much... why do you carry it? Oh to cover your ass

A mortgage is not the same as a loss payout on a vehicle, so I am not going to even try to argue with you about that.

In my dealings with insurance companies over the years is that they are eager to collect premiums and raise rates, but they do not like to pay out claims, period.

I am a tradesman, I had ice damage to my home in a few spots this past winter, nothing major, the cost to repair was so low that even a painter with a busted truck, no insurance, and using cheap ass Home Depot Paint probably could not repair the slight damage for the price I was paid for it.

I pay the devil their premium so I can cover my ass because Illegals drive uninsured and hit people, because scumbag lawyers sue for a hang nail, because I busted my ass for everything I have and don't want to lose it all to some POS who decides to sue me over some ridiculous event.

So tell me, is it like a game when you want to buy a car vs. sell it ???

Insurance wants to pay out the bare minimum book value then deduct-deduct-deduct for every little thing, then when you want to buy it back it is suddenly worth thousands more ??? Is that the game we play ????