***Update Pg. 26*** Think It'll Buff Out?

[Michel Jeanneau]

It's not Tracy I worry so much about it's Paul @OrangeStreak. He seems to get worse by the day!

hey it's m@@shole paahking at its best!

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[IdahoRanger]

It's because I used my insurance (having the replacement value) then mine will go after hers for everything including the deductible. Her's already accepted blame for it and I forgot the technical name (something like sub ligation?) but it's a process they do and she said I'll get it back.

Yes, subrogation.

 

[Crow_of_judgement]

What'd you get for a rental?

 

[AzScorpion]

What'd you get for a rental?

Toyota RAV 4. Good thing too because I had the rear seats folded down and used every inch of it when I took everything out of mine on Monday. I'm very surprised how well it rides too.

 

[Chris M]

What'd you get for a rental?

Don't tell him, Dave!!!!!!
Don't!!!!!!
You'll be sorrrryyyyyyy!!!!!

 

[Dr_Strangelove]

Awesome update! I hope it's a memorable road trip for all of the right reasons.

(I'm emailing my insurance agent right now, too. 5g.com knowledge for the win!)

 

[veedubtuner]

Finally there's a light at the end of the tunnel!

I received a call from the final loss adjuster this morning and here's the total number they're paying me. $51,081.

How is that possible? I'll probably talk with my Insurance provider to get more info, but what about vehicle depreciation over time? And if you don't mind me asking, what was the original MSRP on Money Pit?

 

[Crow_of_judgement]

Toyota RAV 4. Good thing too because I had the rear seats folded down and used every inch of it when I took everything out of mine on Monday. I'm very surprised how well it rides too.

Nice.

 

[mtbikernate]

she said I'll get it back.

yeah, I've been hit before, and had to have my insurance cover it initially (was a hit-and-run) so I paid my deductible. the insurance co was able to track down the person who hit me and get their money back, so I was issued a refund for my deductible a few months later.

 

[DukeCanBuildit]

Toyota RAV 4. Good thing too because I had the rear seats folded down and used every inch of it when I took everything out of mine on Monday. I'm very surprised how well it rides too.

I figured it was a Delorean based on your travel date.

 

[Kristina]

Yes it is! Good thing too because Annie still owes me a Christmas present. I didn't know what I wanted so she gave me an IOU. lol

And after receiving your new Ranger then you start to mod it and all you can think is next Christmas ??

 

[AzScorpion]

How is that possible? I'll probably talk with my Insurance provider to get more info, but what about vehicle depreciation over time? And if you don't mind me asking, what was the original MSRP on Money Pit?

In that figure there's sales tax and reg fees given back to me. So the total truck value they paid me was $47,505 and the rest was taxes and fees back to me. Here's my window sticker and the original MSRP is $44,875.00

 

[NeptuneRanger]

It's because I used my insurance (having the replacement value) then mine will go after hers for everything including the deductible. Her's already accepted blame for it and I forgot the technical name (something like sub ligation?) but it's a process they do and she said I'll get it back.

Subrogation… you handled it exactly right,
it was because of the replacement cost endorsement you had to go this way. Travelers will probably recoup 37k plus your deductible and any rental car paid out. You’ll get your 500 back. Paid off 2023 coming off a 2019 with a small balance, you come out smelling like roses ?

 

[AzScorpion]

Subrogation… you handled it exactly right,
it was because of the replacement cost endorsement you had to go this way. Travelers will probably recoup 37k plus your deductible and any rental car paid out. You’ll get your 500 back. Paid off 2023 coming off a 2019 with a small balance, you come out smelling like roses ?

Thanks for all your insight Chris!! It's so nice to have so many helpful folks on here!

 

[NeptuneRanger]

How is that possible? I'll probably talk with my Insurance provider to get more info, but what about vehicle depreciation over time? And if you don't mind me asking, what was the original MSRP on Money Pit?

Your understanding is correct, cars are paid at depreciated value usually. Not every company offers the endorsement that Dave bought. Many times you can only purchase it when the truck is brand new.

For collector cars there are agreed value and stated value options through companies like Hagerty. Those can be tricky if the car is actually appreciating then the endorsement can hurt you.

Dave’s result is unique and won’t be everyone’s reality especially in certain states with certain companies. So happy for him. He did spend the extra 70 per year for 4 years so 280 which was a good bet !! Remember it comes into play on a total loss which isn’t that common.

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