insurance advice after accident

ViciousClone

ViciousClone

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Hi all,

So i just like to get some tips

My wife was in a accident last week,Long story short...Guy did not look where he was driving and rammed my wifes car at 80kmph ...

Got two quotes so far at the insane prices of +-R79000 for the damage,Mind you this is for a Ford Figo!

So yeah book value at a dealership is R69000..As well,the guy that caused the accident said to claim through his broker.

Now this is what gets me,i know they will write this car off and pay her out,problem i have with this is that she owes R64000,So she gets R5000?How can someone be worse of than before after something that was not your fault?Or am i missing something here?! Any advice would help
 
I assume that when they write the car off they won't give you the car to keep... so you would lose the car nd the money. I hate this about insurance.

you pay the car off but if it is in an accident it becomes their collateral and you end up with nothing.

if you can I would say try and get the cash and then get the car fixed in a back yard repair place where they can hopefully do the job for R50k or less.
 
What book value ? Trade or retail ? They must pay out retail value
 
djbrendan said:
Hi all,

So i just like to get some tips

My wife was in a accident last week,Long story short...Guy did not look where he was driving and rammed my wifes car at 80kmph ...

Got two quotes so far at the insane prices of +-R79000 for the damage,Mind you this is for a Ford Figo!

So yeah book value at a dealership is R69000..As well,the guy that caused the accident said to claim through his broker.

Now this is what gets me,i know they will write this car off and pay her out,problem i have with this is that she owes R64000,So she gets R5000?How can someone be worse of than before after something that was not your fault?Or am i missing something here?! Any advice would help
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Unfortunately that's how it works, they have to pay the bank first because they owned the car, different case if the car was paid off, I'm pretty sure you will be able find another figo for R70000
 
DeathStrike said:
I assume that when they write the car off they won't give you the car to keep... so you would lose the car nd the money. I hate this about insurance.

you pay the car off but if it is in an accident it becomes their collateral and you end up with nothing.

if you can I would say try and get the cash and then get the car fixed in a back yard repair place where they can hopefully do the job for R50k or less.
Click to expand...
if we can keep the car we can make something out of it still.But i'm not sure if they'll let us keep it
 
Also be careful if claiming from his insurance. They will apply the 80/20 case law where they don't pay out the full amount as they'll say that you as the driver also played some role in the accident.
There was an article in one of the Cape Town community newspapers last month, where someone complained about this (I think it was last month's paper). He eventually contacted "Off My Trolly" to help him with this problem. The person that drove into him admitted they were at fault and even went as far as signing an affidavit to this but still the insuarance company wouldn't pay out the full amount.
Eventually with the help of "Off My Trolley" they paid out the full amount.
 
Magandroid said:
Also be careful if claiming from his insurance. They will apply the 80/20 case law where they don't pay out the full amount as they'll say that you as the driver also played some role in the accident.
There was an article in one of the Cape Town community newspapers last month, where someone complained about this (I think it was last month's paper). He eventually contacted "Off My Trolly" to help him with this problem. The person that drove into him admitted they were at fault and even went as far as signing an affidavit to this but still the insuarance company wouldn't pay out the full amount.
Eventually with the help of "Off My Trolley" they paid out the full amount.
Click to expand...

Well, if his car is financed, then he should have insurance (as per the finance agreement, or else he is in breach of it) and he should really be using them, I hope he is.
 
They might also take the 5000 in excess fees and you walk away with nothing
 
Go through your own insurance.
If needed they have a legal team that can fight for you if required.
The other guy's insurance will do what is best for their client...
 
Do you want the car paid off and 65k in pocket? That's not how this works. You'll be debt-free and will most likely have 5k for the down payment on a new car.
 
Splinter said:
maybe I am missing something, but how are you worse off? Your wife's car debt is fully paid off?
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With a car being a depreciating asset, you could easily have had a credit shortfall. I know it's a crap situation, but count your blessings.
 
Tman* said:
With a car being a depreciating asset, you could easily have had a credit shortfall. I know it's a crap situation, but count your blessings.
Click to expand...

This. Insurance is not meant to make you money, It's there so it covers the majority of your loss.
 
Claim through your own insurance, let them fight it out with his insurance. Third party claims are a pain in the rear end and they hardly ever end well. You pay insurance for a reason and that reason is so that you don't have to stress over this.
 
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