Does the insurance company usually repay you the lower than market value?

United States
August 6, 2010 3:16pm CST
So, if you have an accident. Let's that your car was total. How do you find out what is the actual value of your car was, so you can get a fair price from your insurance company? I heard that those Insurance company usually pay you 70 cents of a dollar value, so you might not satisfied with it. If you personally get a appraiser to estimate the fair market price for you, would that insurance re - consider the repayment amount again? What was your experience to negotiate with the insurance?
1 response
Nixy123
@Nixy123 (5)
•
7 Aug 10
When I had my car accident the insurance company paid the price I paid for the car, minus a little as I'd had a few years use. It was more than 70% of what I paid though. Bare in mind this happened in England, so your experience may be different :)
kingparker
@kingparker (9673)
• United States
7 Aug 10
So, if that is happening in different country, it will be totally different situation. In States, most insurance companies won't pay that much money as you expect them to pay you. Usually lower than the market value. You have to protect yourself, and do all the homework. Otherwise, you simply got rip - off, that is all.