New car 2 weeks old and700 miles with25% damage
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UPDATED: Nov 14, 2017
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Insurance Question from Kissimmee, FL
Asked on 11/14/2017
New car 2 weeks old and700 miles with25% damage MY new Audi was rear ended with 727 miles and 2 weeks of ownership. I paid $51,000 and damage is estimated at $11,600. I am sure the repair will be more once the repair starts. Can I demand a new [email protected]
Answer given on December 02, 2017
When a car is damaged in an auto accident, the insurance company determines the damages and how close they are to the actual cash value of the car. In your case, even though the car has depreciated since being purchased, it is unlikely that it will cost more than the current value of the car, so the insurance company will determine to repair the car. If the damages increase, the insurance company will keep on top of the increased repair costs, but it will still most likely not be near the current value of your car. If it is not close to the actual cash value of the car, they will not be willing to declare the car a total loss.
If you purchased new car replacement on this car, there would be no depreciation applied so the car will have the higher value and it will definitely not be declared a total loss.
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