My 2k2 maxima gle was stolen this monday the 10th of July. It was taken right in front of my building. It is very unfortunate and I am extremely upset. Now I need some answers from you guys on insurance. I need to be schooled on this process. I know I have 30 days for the police to find the vehicle and if it is not found then I get paid from the insurance. How much is it that they pay? I want answers in general for any car and in specific for my 2k2 gle with 62k on the odo. Basically where do they come up with the value. Thanks in advance.

 

If you have a loan out on it, insurance would just pay the loan off I believe. Otherwise, you would get book value.

 

The car is fully payed for. The whole point of the question is how do I determine exact book value? Would it be by just going to kbb.com and searching for retail value excellent condition 2k2 gle 62k?

 

Well, it really all depends on what your insurance company decides to do. You should call them first thing in the a.m. Man if someone stole my max I dont know what I would do. I feel for you man.

 

Stop asking us and start asking your insurance.

My deepest condolences.

 

Insurance has been contacted and all that. They said book value on the initial phone call now I have some paperwork that is going to come in and needs to get filled out. After that I will find out. They wanna see if it shows up in these next 30 days. I just thought some of you might know off the bat. But I am suffering right now. 2006 sonata rental. At least its a v6.

 

don't accept the first offer! Its a mistake!

Sorry to hear about your loss.

 

Sorry. Your insurance should give you the KBB.com value and hopefully little more if you're lucky.

 

last i heard, insurance companies will give you market value. my cousin is an insurance adjuster...

 

Pull the values from KBB, Edmunds and NADA with the car in excellent condition. Use the highest one and ask for that. You might not get it all but that's a good starting point. It's like trading in a car at a dealer. It's usualy negotiable. Don't be afraid to say no to the first few offers if they seem low. The adjusters are paid to protect the companys assets, not yours. They won't lower their offer if you say no. The worst that will happen is you get that amount anyway.

BTW, Someone posted earlier that the insurance company would pay off the loan or pay book value.
Unless you have gap insurance the insurance co will pay book value for a total loss not the loan amount. If you owe $20,000 on a car that's only worth $10,000 you're responsable for the rest. I work in the car business and can tell you there are a LOT of people rolling around who owe $10,000 more than the car is worth. Gap insurance is one of the few extras the dealer sells that's really a must for most people financing.

Not trying to sell anything here but that can be a nasty surprise for someone who thinks they're covered when they're really not.

 

Insurance co. don't go by book valve of KBB or Edmonds. They have there on process of figuring out what your car is worth and it will be less then KBB or Edmunds........

 

i mean do u think someone was targeting you? i wonder how they got it started?

 

i have ever modification done to my car insured with my company, nationwide, its $20 more every 6 months for every $1000 worth of excessories, now thats what i call FULL coverage. lol my clear sidemarkers are even insured.

 

This is something everybody needs to know........

Gap is a must......

 

i agree

 

The last time I delt with an insurance company, they looked up similar maximas (condition, options & mileage) and used that to help figure what my car was worth.

 

dude, look at the bright side, at least u get to shop for a new car. but still, im sure it sucks to get ur **** taken. sorry man.

 

Have the police found your car yet? Any more information with the insurance company?