~RANT ~ Auto Accidents and Insurance Coverage

United States
February 8, 2008 2:05pm CST
Now that the dust has settled a bit and I can think a bit more clearly I have been wondering about the insurance company that represents the guy that struck me. They will pay for the car if it is totaled. Still it doesn't set well with me because I will still be without a car. I still have 3 years to pay on this car. The pay-off for the car is $7,000, which is about what the blue book value is. The loan will be paid off, but I will have nothing to show for it. There is a part of me that says I should be grateful that I was not harmed from this accident, but the other side is upset over the financial side of it. The bright side is that I will no longer have to worry about the $300 loan payment every month. Sorry for the rant, just had to get it out. Thanks for your time.
7 people like this
14 responses
@david2005 (800)
• Canada
8 Feb 08
Well you should be happy that you are ok and you can always get another loan for another car since that loan will be paid off.
3 people like this
@anniepa (27279)
• United States
9 Feb 08
"Well you should be happy that you are ok and you can always get another loan for another car since that loan will be paid off." We're all happy she's OK, of course but I wouldn't be happy about having my car totaled through no fault of my own and having to start all over again making payments. This is a super-duper fantastic rant because one of my biggest pet peeves is the way good people are always getting ripped of by insurance companies. Annie
2 people like this
@Grandmaof2 (7603)
• Canada
8 Feb 08
Well of course it's a blessing you're alright but that can't come between you and common sense. The other guy was at fault and you should be left having something to drive and I mean right now while the settlement needs to be paid. The other guys insurance should pay for this that's why we have insurance. You may still need to make 300 dollar payments because that's the way it was but at least you have a set of wheels. Just my opinion my dear friend.
• United States
10 Feb 08
My plan is to pay off the loan. Fortunately we have 2 other cars, but they are older cars. My car was the best of the 3. We don't know when the older car which has 170,000 miles on it, will die. So, we may be in a pickle in a few months, who knows. But, we will be able to save for another with the money we are saving from not having to pay on a loan.
1 person likes this
@pastorkayte (2255)
• United States
8 Feb 08
Hey other bright sides are that you dont have to pay the car payment or insurance premiums, your credit looks good cause on your credit report (if in the US) says that you paid off a car when the insurance pay for it. You can go buy another car. So just look at it that way.
3 people like this
• United States
10 Feb 08
I am happy that the loan will be paid off and look good on the credit report. But, to be left with nothing is a hard pill to swallow.
1 person likes this
@villageanne (8554)
• United States
8 Feb 08
We had the same thing happen to us about 5 years ago. We borrowed money to purchase a car for our two daughters to use while at college. Our youngest wrecked it. It was the other guys fault but it was totaled. So they basicly paid it off. We too were stuck with nothing. Insurance companies are all dishonest. You have to have insurance and they know it.
3 people like this
@stephcjh (32327)
• United States
8 Feb 08
Wow. That is so awful. That really isn't fair to you at all. Insurance companies suck. Now if you did want to buy another car, you still have to start all over making payments which takes forever to pay off. Most are five year loans unless you can afford to pay more and have the years reduced. That is awful.
3 people like this
@kareng (20613)
• United States
8 Feb 08
Oh that's horrible! I hope you don't have any problems getting them to pay up. Accidents are not fun, and can get expensive. yes, you should be thankful that you weren't hurt and also that this guy had insurance!!
• United States
10 Feb 08
I am grateful for not being injured. Even if this guy didn't have insurance, we have great coverage. But, I am happy not to have to use our insurance to cover the loss of the car.
1 person likes this
• United States
10 Feb 08
Aw elusive. Well you may be surprised. Often you get a little more from thrn insurance comapny than you think you will. So maybe you'll get enough to pay off your car loan and then still have a decent down payment for a new car? I'll be praying for you!
2 people like this
@GardenGerty (116448)
• United States
9 Feb 08
It may be a blessing in disguise, but I understand about needing a vehicle. If you can get a note on another car, perhaps it will be for less or for a shorter term. I am aware you need something dependable for your work.
@matlgal (1687)
• United States
16 Feb 08
"It just ain't right" !!. there is something seriously wrong with the system when you abide by the laws of the state, pay your premiums on time, carry usually more than adequate coverage and BOOM- in one day your life becomes a financial burden. YES thank God you weren't injured. But why should it have to turn your whole life into a debt driven household? I agree with your "rant" whole heartedly and my only suggestion would be to check all the small print on your policy, call and talk to a claims advisor and also check with some of your local dealers about "leases" with little or no money down? Not sure that is any help, but I DO feel your pain and I am sorry your having to deal with it at all. GOOD LUCK hon.
@MsTickle (25050)
• Australia
14 Feb 08
That is just so wrong! And unfair to boot. Now you are back to square one and you have to get another car. It wouldn't be so bad perhaps if your vehicle was part of your work but the fact is...it is! That should be worth something surely?
1 person likes this
@Thoroughrob (11748)
• United States
14 Feb 08
Dealing with insurance is horrible most of the time. At least you won't still owe on the car. Sorry you are having to go through this and hope that you are doing well.
1 person likes this
• United States
19 Feb 08
Butterfly, My heart is breaking for you. I totally understand what you are going through. I know that I answered your first post about this, but my response is not there. I am thinking it is because the computer was running very slowly that day and it just didn't go through. What I am going to suggest is not the "purest" of suggestions, and I only learned of it the hard way myself. When my son stopped walking the earth in his form due to a car accident, another young man was driving. The driver also stopped his current path at the same time. My son's mother-in-law was a woman who was determined to get some money out of the accident and by golly she did! Since the driver was over 21 there was no way that my son's wife could sue his parents or file a claim on the driver's insurance. They got legal counsel and found out that they could file a claim on their "own" insurance policy. It was on something called "underinsured something or other". If you understand anything about insurance policies perhaps you will be able to understand what I am saying. Regardless, they changed insurance companies and filed a claim on their old company and got several thousand dollars. I'm sorry that all I can do is give emotional support and love; but I know nothing of insurance or the workings of it. I will be holding you in my heart. ~Donna
@reinydawn (11649)
• United States
18 Feb 08
It never made sense to me that all they had to do was pay what they thought the car was worth in money terms. I know when I had my old junker, it was only worth about $2,000. And although it was paid off, there was no way I could replace it for $2,000. I hope you can get something satisfactory to replace it withough spending a lot of money.
• Canada
18 Feb 08
You have reasons to rant...so go ahead!! I appreciate that you are trying to look on the bright side in regard to not being hurt and having no car payments. However, not having a car is not a great trade off. Have you tried to negotiate with the adjuster? We have found that there first offer is not always their last if you can stand your ground and not allow them to intimidate you. They have wiggle room in their offers...maybe you could find a way to get a better deal. It wouldn't hurt to try. Hope things resolve themselves in ways that benefit you and your family. You've had enough to contend with already. Warm and caring regards, Raia