My wifes car was $20,000 used back in 2019. Now after basically 10 years it gets hit. The insurance declares it totalled. So the car can’t be legally driven. The insurance will only pay us $9000. But now we’re trying to buy a replacement and for the same model year they are asking 16000!
WTF! What’s insurance for? Its just a tax. I much rather save to pay for my own car and have some sort of insurance that really actually covers the other driver.
Farmer this and state farm that and whatever General lizard, all are total bullshit regardless if you caused the accident or if you’re are the victim.
They should call it “pay slightly less than full price if you fucked up your car”
Insurance is for liability. To pay for the damages you do to someone else. What you’re describing is full coverage.
Once you’ve paid off your vehicle, you may consider dropping down to liability only. Full coverage is convenient because they’ll pay you when your vehicle is damaged, but the monthly payments will quickly far exceed the money you will recover if you get in an accident.
This is just an example of insurance companies making it more convenient to continue paying them extra money. In the end, insurance still isn’t a utility, and it continues to be run by private, for-profit companies that will nickel and dime you at every corner.
Our car got hit but they won’t pay for the exact same car.
If your car got hit, then I’m guessing you’re dealing with the other drivers liability insurance, right?
I can’t speak for how the legal system where you are works, but I would hold the other driver liable for every single cent, involving a lawyer if necessary.
Yeah we got a lawyer. It’s annoying to have to do that because by default the insurance companies don’t want to do what they’re supposed to be doing.
Definitely. The business model for basically all of the insurance industry - denying as many claims as possible directly contributing to the margin of the company - is fundamentally broken. A real pity on account of how good and beautiful the core idea of insurance is.
No, they won’t. You’ll only get a new car if the vehicle is new (within 5 years and under a certain mileage) and still being paid off, because then the financier/lender is still in the mix. Lenders can and will aim their own lawyers at the insurers.