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Just got notified my Blue M3 LR RWD is totaled

A red light runner hit me right on the left front wheel and knocked it off. Original estimate was 6k, but after the body shop got to the suspension the estimate was 28k, and my insurance took effect as they only had 25k liability. It had less than 25k, and had FSD. On the Tesla.com site, used 2018 LR RWD with FSD with around 25k miles are going for 43k. What will I expect from my insurance for valuation? Also, FSD is now 10K, would that factor into valuation?
IMG_20210219_103008.jpg
 
Look at Kelly Blue Book and Tesla's used car site to get a valuation. Unfortunately FSD doesn't add much to the value of a used car so you are screwed there unless you are willing to replace your car with a used Tesla that has it.
Would be nice if Tesla were to offer FSD insurance which would replace your FSD if your car is totaled. It would be pure profit to them because it costs them nothing to enable FSD.
 
That wheel is not knocked off, you just happened to trigger the hidden 'hover' feature Elon has talked about putting on the roadster.

On a serious note, glad you're ok and I know how frustrating it can be to now deal with ensuring you get the proper value compensated. Once they give you the number, make sure they included any items that you put into the car. I know some people have mentioned getting into accidents where the other party was responsible and getting their insurance to pay for damage as well as ceramic/PPF and depreciated value.
 
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Matsayz

Active Member
Jul 6, 2019
1,255
1,095
Las Vegas
The couple insurance companies I've been with have said that FSD is covered as part of the car if you bought it at the time of purchase (Acuity and SafeCo). Obviously it's too late now to have it "added" but I'd ask the company as none of use would know. Also, I was ass-ume that you'd only be reimbursed for what you paid for FSD at the time. So for example I paid $6K but wouldn't expect $10K today...
 
The couple insurance companies I've been with have said that FSD is covered as part of the car if you bought it at the time of purchase (Acuity and SafeCo). Obviously it's too late now to have it "added" but I'd ask the company as none of use would know. Also, I was ass-ume that you'd only be reimbursed for what you paid for FSD at the time. So for example I paid $6K but wouldn't expect $10K today...
I have a software policy that covers fsd and the coverage increases as fsd increases but it’s an extra add on to my regular insurance. It wasn’t covered under my regular policy.
 

MP3Mike

Well-Known Member
Feb 1, 2016
18,057
44,493
Oregon
Also, I was ass-ume that you'd only be reimbursed for what you paid for FSD at the time. So for example I paid $6K but wouldn't expect $10K today...

Most policies are fair-market value based. So if FSD adds $7k to the price of a used vehicle they would cover $7k. Of course the third party that most insurance companies use to get a valuation from the car always make major mistakes on their valuation reports and they hope you don't notice. The last time it took me 6 go arounds with them to get all of the mistakes corrected so that the report arrived at a reasonable valuation. (They would fix one thing and screw up another.)
 
Nice! Who's that with, how did you ask for it, and what kind of premium are they charging?
I have it insured through liberty. Just said I needed the fsd covered for replacement should my car be totaled and my agent said they have a software policy. I have to manually ask for increases as fsd price increases Its not automatic. I realize re-reading my statement may seem the increase is automatic but it’s not. I think it may be like 10 bucks a month extra i don’t remember. My tesla’s insurance is less than my prior BMW insured with them. I have it bundled in with a homeowners policy so my auto policy is cheaper than if it were by itself.
 

CapeOne

Active Member
Jun 14, 2016
1,091
771
New England
What will I expect from my insurance for valuation? Also, FSD is now 10K, would that factor into valuation?

The insurance valuation should be equal to what it would cost for you to buy a comparable used car as equipped (including FSD) on the open market in your region. Also, depending on your state, it would include sales tax and possibly title/registration fees.
 
I’m assuming this was entirely the other driver’s fault, in which case you should be able to go after their insurance company for the full value of the car and FSD. It should not matter whether your insurance company would cover it since it was the other driver’s fault. Hopefully your insurance company will fight for you but if they don’t you can still go after the other insurance company for the difference.
 
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Look at Kelly Blue Book and Tesla's used car site to get a valuation. Unfortunately FSD doesn't add much to the value of a used car so you are screwed there unless you are willing to replace your car with a used Tesla that has it.
Would be nice if Tesla were to offer FSD insurance which would replace your FSD if your car is totaled. It would be pure profit to them because it costs them nothing to enable FSD.
Great idea....pure profit in their pocket. Plus an added incentive to replace a totaled car with another Tesla (vs pocketing cash and shopping elsewhere). I’d pay Tesla extra for that. Surely they must have considered that.
 

MP3Mike

Well-Known Member
Feb 1, 2016
18,057
44,493
Oregon
I’m assuming this was entirely the other driver’s fault, in which case you should be able to go after their insurance company for the full value of the car and FSD.

Maybe you missed this part of his post:
and my insurance took effect as they only had 25k liability
So, the other driver's insurance cut a check for $25k and walked away. Sure, he could sue the other driver and try to get full reimbursement. (Or his insurance could try to do that for him, but I think that rarely happens.)
 
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So, the other driver's insurance cut a check for $25k and walked away. Sure, he could sue the other driver and try to get full reimbursement. (Or his insurance could try to do that for him, but I think that rarely happens.)

Yeah, I'm sure his insurance will sue the other driver to recoup their loss on the back end but the best he would see from it would be a refund of his deductible if he had to pay it.
 
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