Just got notified my Blue M3 LR RWD is totaled

[OCR1]

Maybe you missed this part of his post:

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.)

Wow, that's crazy. Who carries only $25K of liability insurance. That should be illegal.

 

[MP3Mike]

Wow, that's crazy. Who carries only $25K of liability insurance. That should be illegal.

Lots of people only buy the minimum required coverage. Three states have the low, low minimum of $5k liability for property damage: California, Massachusetts, and Pennsylvania. And I have seen a number of people report they ran into this issue. Which is why you want to have uninsured/underinsured coverage. (Which can often be included as part of your collision coverage.)

In reality if you are driving a car not worth a lot and have no money, or assets, that someone could take why bother paying for more insurance coverage. It just doesn't provide you any benefit. (Unless someone really pushes it and forces you to declare bankruptcy. And they still aren't likely to get anything from you.)

 

[JDMerica]

Yeah, 25/50 is the minimum here and most people don't even question it. I tell all the kids that work for me to really think about how many cars on the road are worth upwards of 50k, do you really want to be on the hook for anything after 25k if it's deemed your fault.

 

[vogz]

Hope to God you have gap insurance

GAP insurance isn't what you think it is.

 

[tommorgan@live]

Just a quick update, my insurance (USAA) finally came up with a valuation that made sense. I rejected the first one, they had not factored in the cost of the blue color and FSD. I asked for comparables from my area (northern Virginia), but both times they quoted dealerships from around Philly. I got my check in April, and ordered a new Model Y, with white interior. Just arrived today!

 

[TLLMRRJ]

Wow, that's crazy. Who carries only $25K of liability insurance. That should be illegal.

Texas is a $25K min state. And who only carries $25K liability? The people that literally have nothing to their name, so you won't be able to recover any money from them. People that have something to lose would most likely carry more liability.

$25K is definitely way too low today given how the average new car price is $40K and body shops now try to make enough to retire off each repair.

 

[father_of_6]

Congrats on the happy ending! I'd say this worked out really well for you. Nice ride... that white interior... dang.

 

[eisenb11]

Wow, that's crazy. Who carries only $25K of liability insurance. That should be illegal.

My GF’s dad got in an accident, 100% other person’s fault (reckless driving). The other guy had the Cali min, which is $15k. Car is totaled, he’s permanently injured, not good. TBD on if they see a penny because the guy hit someone else first before crashing into her dad.

- edit -

Googled the Cali min insurance requirements. They‘re pathetic.

• $15,000 for injury/death to one person.
• $30,000 for injury/death to more than one person.
• $5,000 for damage to property.

 

[Uncle Paul]

My X was recently totaled. Insurance gave me a low first offer. They scoured the web to find low priced comparable cars.
I countered back with listings of comparable cars from Carfax, private offerings etc. The came back with a new and higher offer which I accepted.
They also reimbursed me for some sales taxes and registration pro rata expenses. Feel I was treated fairly, but still needed to make a strong case for them to increase their initial offer.