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My RX8 was rearended and totalled, how much should I accept from the insurance ?

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My RX8 was rearended and totalled, how much should I accept from the insurance ?

Old 08-20-2011, 01:06 PM
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ON My RX8 was rearended and totalled, how much should I accept from the insurance ?

On the way to Toronto last Saturday a teenager hit the back of my 2004 RX-8 GT.

This car has 39,000 Km and has been always stored in winter. I bought new tires in 2010.

The insurance tells me that it can not be fixed and will make an offer next week.

What is the amount I should accept as settlement ?

Thanks
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Old 08-20-2011, 08:51 PM
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Give your insurance policy a good read.

It's more a matter of what you can expect as a settlement, rather than what you can accept.
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Old 08-20-2011, 10:50 PM
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Don't take their first or 2nd offer. Speak to their ombudsman if you have to. Do your own research, i.e. show all cars on autotrader.

This is one area where it pays to push back.
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Old 08-21-2011, 11:55 AM
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agree 110 percent to not accepting the first offer. You're basically switching positions from when you bought your car. You're going to seek the highest dollar value while they're going to try to low ball you.

Do your research, check your policy, and have the information on hand to back up the figure you decide is fair. It won't take very long (in most cases) and could result in a good amount of money in your pocket.
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Old 08-21-2011, 06:56 PM
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Old 08-21-2011, 07:29 PM
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make sure you tell them that, your car has very low mileage and you cannot find one like that for 04, so they should base their offer on mileage not year,
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Old 08-21-2011, 08:22 PM
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Out here in BC, I find that they usually offer you more than what your car is worth (or more than what you can sell it for). Search Craigslist, Kijiji, BuySell, Autotrader, local classifieds and see what similar RX8's with same year/mileage are asking. Just make sure you show them all your receipts for any aftermarket parts to increase it's value.


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Last edited by van; 08-21-2011 at 08:43 PM.
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Old 08-22-2011, 05:21 PM
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pm'ed you...
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Old 08-24-2011, 06:57 AM
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thanks for the help to everybody that answered.

The insurance settled for 15,700 after an initial offer at about 13K. I believe that they were very fair and professional in dealing with me.
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Old 08-24-2011, 10:55 AM
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great news, glad to see things worked out for you
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Old 08-24-2011, 11:11 AM
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Originally Posted by halfon View Post
thanks for the help to everybody that answered.

The insurance settled for 15,700 after an initial offer at about 13K. I believe that they were very fair and professional in dealing with me.
Good news! A lot of times it's like fighting in a phone booth trying to deal with them.
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