Experience with a totaled Tesla / Insurance reimbursement?

[Beran]

My poor 2018 M3 was hit yesterday afternoon and it took some damage on the front right of the car, pretty well centered on that wheel. While my insurance is determining whether it is repairable or not, I was curious of others experience in the event that it is totaled if you've gotten close to fair value for it. I have EAP and FSD on the vehicle, and my main concern is that I don't think I'll be able to get a similar vehicle with FSD for what they're going to give me for the car.

Appreciate any insight some unfortunate soul that's been in this position might have to share with me!

 

[ewoodrick]

My poor 2018 M3 was hit yesterday afternoon and it took some damage on the front right of the car, pretty well centered on that wheel. While my insurance is determining whether it is repairable or not, I was curious of others experience in the event that it is totaled if you've gotten close to fair value for it. I have EAP and FSD on the vehicle, and my main concern is that I don't think I'll be able to get a similar vehicle with FSD for what they're going to give me for the car.

Appreciate any insight some unfortunate soul that's been in this position might have to share with me!

That all depends on your insurance company and the coverage you have on it.

Some policy are written as "new replacement" which gets you a new car.
Other policies are written as "current value" which is much cheaper monthly, but now you understand why.

READ YOUR POLICY

 

[240vPlug]

My poor 2018 M3 was hit yesterday afternoon and it took some damage on the front right of the car, pretty well centered on that wheel. While my insurance is determining whether it is repairable or not, I was curious of others experience in the event that it is totaled if you've gotten close to fair value for it. I have EAP and FSD on the vehicle, and my main concern is that I don't think I'll be able to get a similar vehicle with FSD for what they're going to give me for the car.

Appreciate any insight some unfortunate soul that's been in this position might have to share with me!

This sucks and I'm sorry your going through this. Hopefully nobody was injured!

As far as insurance, they need to make you whole. New car replacement is not typically available after the first year or two AFAIK. Making you whole would be paying you the current market value of the car. Sadly, FSD doesn't really add much to the resale value of the car. You can try to argue with them of course.

While I purchased FSD on mine, with the price increase I would not purchase FSD again. Best to just get the monthly sub if you want it.

Pls let us know what happens with your car.

 

[Beran]

This sucks and I'm sorry your going through this. Hopefully nobody was injured!

As far as insurance, they need to make you whole. New car replacement is not typically available after the first year or two AFAIK. Making you whole would be paying you the current market value of the car. Sadly, FSD doesn't really add much to the resale value of the car. You can try to argue with them of course.

While I purchased FSD on mine, with the price increase I would not purchase FSD again. Best to just get the monthly sub if you want it.

Pls let us know what happens with your car.

Thanks - no one was hurt, thankfully. The only "injury" was my poor dog sliding off the front seat and onto the floorboard, but since we were turning into her vet when I was hit I just ran her inside, explained the situation, and they checked her out and said she's fine. A little sore and stiff myself, but otherwise I'll be fine in a few days.

Interesting that you feel that way about FSD, as I've been waffling with that same issue. I'm assuming they'll end up totaling it out so I've been looking at used car prices as well as new ones. If I decide I can't live without FSD I found a 2020 Performance near me for a little more than I'd expect to get back. If I am fine without EAP or FSD, I can buy a new one for roughly what the current federal tax credit is over the cost of that uses Perf, it's just a matter of coming up with that much extra cash now to cover it.

 

[240vPlug]

Thanks - no one was hurt, thankfully. The only "injury" was my poor dog sliding off the front seat and onto the floorboard, but since we were turning into her vet when I was hit I just ran her inside, explained the situation, and they checked her out and said she's fine. A little sore and stiff myself, but otherwise I'll be fine in a few days.

Interesting that you feel that way about FSD, as I've been waffling with that same issue. I'm assuming they'll end up totaling it out so I've been looking at used car prices as well as new ones. If I decide I can't live without FSD I found a 2020 Performance near me for a little more than I'd expect to get back. If I am fine without EAP or FSD, I can buy a new one for roughly what the current federal tax credit is over the cost of that uses Perf, it's just a matter of coming up with that much extra cash now to cover it.

Yeah used hasn't come down enough IMO to make it worth going used over new...assuming one can take full advantage of tax credit (check with your accountant before purchase).

I had planned to keep the car at least 5 yrs and so I opted to buy FSD outright since the payback at 12k was 5yr. I also think its possible FSD could be much more valuable in the future (not guaranteed) so I went for it. At 15k though, payback is too long and at least right now doesn't do anything for resale

Glad everyone is ok including your doggie.

 

[Unclepaul]

My insurance company looked at on line equilivant Teslas for sale and used the lowest price ones to generate an offer.

I went on line as well and selected the highest priced ones. They chuckled.

We agreed to settle in the middle and they wrote me a check.

 

[Beran]

My insurance company looked at on line equilivant Teslas for sale and used the lowest price ones to generate an offer.

I went on line as well and selected the highest priced ones. They chuckled.

We agreed to settle in the middle and they wrote me a check.

Yeah, I'm hopeful I don't have to go through that circus. I've taken some time and located a few cars that were similar to mine, but it's harder to find people that have FSD. Tesla has a car that has EAP and I've reached out to them to see what the FSD cost is on that car, but so far they haven't reached out to me.

 

[RoBoRaT]

Attached is how USAA came up with the valuation for our 2019 Model X that was totaled back in Feb 2020.

Note that they valued FSD at $6000 - which was the price of FSD at the time.

Make sure to go thru their comparison/valuation - I had to point out key items that were missed (ie not 6 seats, wrong mileage 5K miles vs 15K miles, older year model).

Their initial comparisons were way off resulting in low valuation. The difference was $75K vs $90K after they had made better comparison.

 

[rrolsbe]

Thanks for the USAA value assessment information! Our 2018 Model 3 was rear ended on May 18th and it is looking like it will probably be totaled. Hopefully USAA values FSD as it now cost 15K to replace. Would be nice if Tesla helped owners with FSD regarding totaled cars is some way, especially since we were not at fault. We have the policy option that adds 20% to the totaled value did you?

 

[coco135]

probably too late to chime in but for future info...
My 22 MX was totaled nov 23 with 18k miles on it, had Tesla insurance.
I was offered not including tax just over 83k, it sounds good considering msrp at time of accident for a new one was 79k but I had FSD and bought my car before the major price decrease they had on the X, I paid 103k not including tax (89k msrp + 12k fsd + 2k cream interior) so I paid 20k to drive it for 17 months not a huge loss considering lease payment would have been much higher. I feel it was a fair+ offer.