Iv heard some people saying that they have agreements with their insurance companies as to how much they will recieve for their R if anything happens to it. I was wondering as to how many of you have already done this and anyone of you done this with **21st Century? My friend doest park his car anywhere because he thinks that if it gets stolen the insurance company will low ball him and he doesnt have that much time to sit around and argue with them. Also Does your insurance price go up if they give you a fixed number for your car? He says if he can get a fixed price for his car, he will start parking it without worries. thanks for replys


Modified by SiR99 at 2:30 PM 4/10/2006

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by SiR99 &raquo;</TD></TR><TR><TD CLASS="quote">I was wondering as to how many of you have already done this and anyone of you done this with Century 21?</TD></TR></TABLE>

Century 21 is a real estate agency.

21st Century is an insurance company. One which is tied for the worst rating for claims handling in the most recent JD Power survey of auto insurance companies.

Insurance companies should give you fair market value if your car is stolen. But some are better about that than others. You may want to switch to one of the auto insurance companies who are most highly regarded for customer satisfaction, such as Amica, USAA, State Farm, etc.

 

Quoted from that site* USAA, an insurance provider open only to the U.S. military community and their families and therefore not included in the official study rankings, achieved a satisfaction ranking slightly above Amica.

I love USAA, by far the best company I've ever dealt with!!!!

 

Damn, it does have one of the worst ratings . Has anyone on this board ever delt with them concering a type R?. My friend says he doesnt want the insurance company to get suspecious of him asking for a fixed rate, and then the car might get stolen in a couple months. Has that ever happened to any of you?

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by SiR99 &raquo;</TD></TR><TR><TD CLASS="quote">Damn, it does have one of the worst ratings . Has anyone on this board ever delt with them concering a type R?. My friend says he doesnt want the insurance company to get suspecious of him asking for a fixed rate, and then the car might get stolen in a couple months. Has that ever happened to any of you?</TD></TR></TABLE>

Suspicious? What the f are you talking about? Short of planning to have your car stolen why would you even think like that? If you want a specific policy, you ask for it, and they quote you a rate. You pay it, and they cover you. If the car never gets stolen, then fine, they just got alot of your money, and if it does get stolen, I'm sure the rate reflected the risk.

 

He hit up the insurance company today, and 21st century said that they dont offer anything like a fixed price. They said if anything does happen to the car, the adjusters will search around and find how much the local cars in the same condition sell for. Lets just hope they keep their word. Thanks for all the replys guys

 

collision and comprehensive coverage covers the repairs of your vehicle up the the actual cash value of your car. if repairs exceed the actual cash value of the car, your insurance company will pay the actual cash value of your car.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by spidermancivic &raquo;</TD></TR><TR><TD CLASS="quote">collision and comprehensive coverage covers the repairs of your vehicle up the the actual cash value of your car. if repairs exceed the actual cash value of the car, your insurance company will pay the actual cash value of your car.</TD></TR></TABLE>

Theoretically true. In practice, they don't pay for the repairs up to the actual cash value. There's a percentage - I'm not sure if it's 70 percent or 80 percent, but it's something like that - whereby, if the repairs are going to cost more than 80 (?) percent of the actual cash value of the car, then they total it and give you the actual cash value of your car (even though the repairs might have cost somewhat less than that).

 

varies per insurance company. but remember, the insurance company does not have the final say so on deciding whether or not the vehicle is totaled. the insured has that final say so

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by spidermancivic &raquo;</TD></TR><TR><TD CLASS="quote">the insurance company does not have the final say so on deciding whether or not the vehicle is totaled. the insured has that final say so</TD></TR></TABLE>

Not true.

 

its true in california. many other states too. i am refering to totaling the car and salvaging the title. why is it true, because, i had to deal with total losses every day for four years working for a very large ins company in california. anyways, the department of insurance will fine the ins company if they do total the vehicle and salvage the title without the insureds approval. The insurance company MUST have the permission of the insured to submit the title to be salvaged to the dmv. the insurance company can do it without the insureds permission, but, if the doi ever finds out about it, the fine outweighs just getting the insureds permission not to mention the insured can file a civil lawsuit against that insurance company. heres some additional info.

https://honda-tech.com/zerothread?id=1577826

also, if you would like me to dig through my 2006 DOI reg book, i gladly will and point you the the specific title, chapter, subchapter, and section in the california department of insurance regulation handbook

i guess we learn something new everyday.......................eh nsxtasy

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by spidermancivic &raquo;</TD></TR><TR><TD CLASS="quote">its true in california. many other states too. i am refering to totaling the car and salvaging the title. why is it true, because, i had to deal with total losses every day for four years working for a very large ins company in california. anyways, the department of insurance will fine the ins company if they do total the vehicle and salvage the title without the insureds approval. The insurance company MUST have the permission of the insured to submit the title to be salvaged to the dmv. the insurance company can do it without the insureds permission, but, if the doi ever finds out about it, the fine outweighs just getting the insureds permission not to mention the insured can file a civil lawsuit against that insurance company. heres some additional info.

https://honda-tech.com/zerothread?id=1577826

also, if you would like me to dig through my 2006 DOI reg book, i gladly will and point you the the specific title, chapter, subchapter, and section in the california department of insurance regulation handbook </TD></TR></TABLE>

It may be true that the insured must sign the title before it is submitted to the DMV. However, you cannot force the insurance company to pay the full market value of the car in repair costs. For example, if your car is worth $18,000 and it sustains $18,000 in damage (or even $16,000 in damage), they can decide whether to total the car before paying the claim, and if it is totalled, they can (and do) refuse to pay you the amount of damages unless you sign the title over to them. As a result, it is THEIR decision whether to total the car. Not yours. (Unless you don't want to be reimbursed by insurance for the damages, in which case you can do whatever you want with the car. So it's up to the insured whether to accept the reimbursement from the insurance company, and in that sense, you could say that the insured makes the decision whether to total the car... but it's not really much of a decision.)

 

if the car is deemed a total loss. no matter what, the ins company is going to have to pay. the process and procedures for that will be governed by the department of ins in your state. being concerned about your payout is important too, but, what if you know you can repair the car back to its original condition lower than the cost of what the ins company has stated in the estimate?

now, concerning the title. it is not up to the ins company to make the decision to salvage it. it is up to the insured. once any ins company totals a vehicle they will always move to salvage the title. when a title is salvaged the value of the car after the title has been salvaged will significantly be reduced when it is repaired.

now in the case if your integra sustained a collision damage or theft damage that exceeds $10,000. lets say your integra's actual cash value is $10,000. now we already know the insurance company is going to total the car. now they will pay the actual cash value of the integra of $10,000 minus the deductable, lets say its $1000. so far you are going to get $9,000. now lets say they are going to sell the totalled integra for $3000. now you have $6000.

lets assume the damage is to the front end and rear with no frame damage.

now, if you can buy a front end and rear bumper and hatch trunk for $2000 used off honda-tech.com classifieds, already in the same color, then, you now have $4000 left from the payoff and the integra is restored to it's "original condition."

now if the title is salvaged, the integra will be worth...................lets throw out a number...................$6000 now because of the salvaged title.

if the title wasnt salvaged, the integra will be worth $10,000.

would you prefer the title to be salvaged in this case or not?

anyways, the department of ins regs gives the insured the final say so whether or not to send in the forms to salvage the title to the dmv. if the insured states no, then, the insured must make a written promise that they will repair the vehicle if the title is not to be salvaged. the only drawback to deciding not to total the vehicleis that you will not recieve your dmv registration fees, but, that is a small price to pay to keep your vehicle non salvaged.

basically, if you know your car is still repairable and the cost is worth it after considering the repair and resell value of your car...............do not let the ins company convince you into salvaging the title............because you have the right to say, "no, i dont want the title salvaged."