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Car Insurance - potential total loss


I am with Geico - thinking that I might loose the car either theft or … is a financial hardship - a 2000 Integra.



Because they try to use a 3rd party to undermine the value of the car - for what they give, I can’t replace.



Honda dealer uses Karr - they would pay the difference to make up to a new car.



Is there anything I can do now to protect me?

I am not sure exactly what you situation is or what you are asking. It seems a little confusing (“thinking that I might loose the car either theft or … is a financial hardship”), so please excuse me if I address a question you don’t have.

If you don’t like the coverage your current policy provides, why not call your company and ask they about your concerns? If they don’t give you an answer you like, take the same question to another company.

I might be wrong, but I don’t know any insurance company that offers to replace a car with a new one.

Tell Me About Geico And This Policy.

Do you have a real agent in a real office or a virtual e-gent in cyberspace ?

What do you mean they use a 3rd party to undermine the value ? Third party to do what, adjust a claim ?

"Honda dealer uses Karr - they would pay the difference to make up to a new car. " Are you tlking about “gap” insurance ? Is Karr the “gap” insurance company ? Why can’t you use them if they would pay the difference ?

I take it you don’t own this car outright and it is financed, right ?

If the problem is with Geico, why would you deal with them ?

Are you “upside-down” on this car (owe more than vehicle is worth) ?

What model-year is this car and how much is owed, if any?

Forgive all the questions. I have a trusted agent I have worked with for several decades and only made payments for 8 months when I was a teenager.

CSA

Total loss, but you’re driving it 500 miles per week?

I don’t get it.

McP, I Don’t Think It’s Been Totaled Or Stolen, Yet. Sciconf Is Just Trying To Be Sure Of Having Adequate Coverage Before The Big One. That’s My Take.

Where’d you see the 500 miles per week ?

CSA

"Where’d you see the 500 miles per week?

CSA–In another thread, the OP asked if he/she should trade in the Integra for a Honda Insight, in view of a projected 100 mile per day/500 mile per week commute.

Regarding this thread, I have to say that I cannot figure out what the OP is asking.
And–most important of all–what part of his Integra is “loose”?
;-))

Scionf has been asking insurance questions about his Integra for months.

Thanks VDC D & McP. I Even Responded To One Of The Others, But Didn’t Connect The Two.

CSA

How do you know what Geico will give you for the car? If they give you fair market value for a 2000 Integra, that’s all you deserve. BTW, Geico, and many other insurers, NADA or another service (3rd party) to tell them what the fair market value is for a 2000 Integra in your area. The value is determined from recent sales. You can protect yourself by not getting into an accident. In my area, a typical 2000 Integra with average mileage and the usual options is worth about $5600 from a dealer and $4600 from a private party. Why can’t you replace your car with that much money?

Most People Don’t Continue To Carry Collision Insurance On An Eleven Year-Old Car. It Is A Senior Citizen In Car Years. They Choose To Save The Money, Self-Insure, And Take Their Chances.

The transmisssion or a timing belt could fail in an old car and at that point it’s usually just a matter of moving the license plate to a different car, anyhow.

CSA

No loan
Car is fine - I might drive 500 miles/wk in the future

Geico uses 3rd party to value your car - the 3rd party (ValueScope.com) systematically undermines value of your car.

Perhaps the area I live, used car prices are higher and people are crazy by demanding higher prices - northern CA.

Sounds like he wants advice on commiting insurance fraud (a felony). Concerned that he won’t get enough $ for having his car “stolen”.

I’m Guessing Geico Insurance Is Cheaper Than Others, Yet You’re Saying That They Basically “Undermine” The Value Of Your Car If You Suffer A Total Loss.

From where I sit it looks like You get what you pay for.

CSA

Before I comment on your claim that Geico’s 3rd party partner systematically undermines the value of your car, how about some details on the car so I can compare what they are offering to the actual value of your vehicle? How many miles are on it? What are the conditions of the body and interior? How many miles are on the odometer?

I would like to know what data you have used to determine the value Geico is offering for you car is unfair. Do you care to share those details?

There must be a different Value Scope than the one you identified. The URL you presented would not necessarily undervalue it, but they would not assign a value you would be happy with. It’s a sociological values site.

So, how do you know that they undervalue cars, anyway?

I’m not sure it would matter. The car appears to be OK now. Scionf, if your car is not totaled, how can you know what the value is from your insurer’s viewpoint?

Sciconf, exactly what is the problem you’re struggling with? Right now, from what I’m reading, I have to agree with those who suggest that you seem to be considering committing fraud to clear you of your car payments because you’re having financial difficulties.

If that’s true, I urge you to reconsider. Insurance companies are experts at recognizing fraud, you’ve created an evidence trail via this thread that would be a fraud investigator’s dream, and you’ll have far greater problems when you get convicted than you now have. This is not going to make things easier, only far worse.

Unless, of course, you’re already a convicted felon anyway.

Hahah…no. Every time I’ve gotten a quote from Geico for any car, it’s been about twice as high as anyone else. And yet they still screw people harder.