I agree, when it comes to insurance carriers you get what you pay for. I’m an agent I see it all the time. Sometimes when you jump right in and lawyer up you also put the carrier on defense and it can cause worse delays because the process changes once they’re served. Give them a chance.
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Model 3 totaled! please advise
- Thread starter ddreww
- Start date
MikeHolliday
Member
From Canada, we have a "depreciation waiver" for 2 years that is common for new vehicles. You can buy up to 5 years for a higher premium. I always do it. Totalled equals new car. Unsure how things work down there. Ditto for "diminished value" if its repairable.
When one of mine (LR AWD) was totaled it was during the early end of the pandemic and the factory had been shut down it was a 2020 car purchased in 2015. Mileage was only like 1500 miles and car was 7 months old.
Car had to be totaled. It totally looked fixable. Multiple airbags had gone off those and issue stated that when that happens they just total a Tesla as a rule of thumb. They had tried to repair enough of them to know that when they get far enough through the repair process on average it just got them more long term. They also quoted extended months of repair time.
In any case they said I would NOT get value to replace with a new car. However, they pulled three comps and ALL THREE were higher than purchase price of a new car - which we're not available at the time due to factory close.
In the end I got paid more than I paid for the car by a few thousand.
I was also able to claim CA SCE rebate again, but not Federal like the 1st car since it was gone by them. I got a new car months later and Tesla had lowered the price by $1k prior to my order in 2019, so that was additional profit on the car. And of course I got another referral from the new car for supercharger miles. Sadly, the new car was JUST before the refresh, but I did get the semi refresh with the 2020 Model Y console with one USB-C and the factory wireless charger pad. Don't forget warranty starting over since new car.
So you never know what they'll come back with. I made money and got a newer car.
Car had to be totaled. It totally looked fixable. Multiple airbags had gone off those and issue stated that when that happens they just total a Tesla as a rule of thumb. They had tried to repair enough of them to know that when they get far enough through the repair process on average it just got them more long term. They also quoted extended months of repair time.
In any case they said I would NOT get value to replace with a new car. However, they pulled three comps and ALL THREE were higher than purchase price of a new car - which we're not available at the time due to factory close.
In the end I got paid more than I paid for the car by a few thousand.
I was also able to claim CA SCE rebate again, but not Federal like the 1st car since it was gone by them. I got a new car months later and Tesla had lowered the price by $1k prior to my order in 2019, so that was additional profit on the car. And of course I got another referral from the new car for supercharger miles. Sadly, the new car was JUST before the refresh, but I did get the semi refresh with the 2020 Model Y console with one USB-C and the factory wireless charger pad. Don't forget warranty starting over since new car.
So you never know what they'll come back with. I made money and got a newer car.
Most policies have a rider that you get full replacement value for a certain period of time if your car is totalled. This means zero depreciation. Check your policy
Depends on the state. In my state a ear ender if always 'at fault'. which includes the car damaged stuff, your time out of work etc.
That's a lot of work for very little return after expenses. You just can't sell used tires (anything that's been mounted) for very much money.
JPoldo
Member
Drew, did you have have FSD? If yes, make sure they replace that too. When a Tesla is totaled with FSD, Tesla should replace it no-charge because the accident didn't "total" software.
I really feel for you. Worst feeling ever. I had my 2018 AWD 3 totaled. I had it for 8 months and it had 8800 miles on it. I had just had this beautiful 3M full wrap done, ceramic tint, etc. Anyhow, the accident was my fault and my insurer is Progressive. I fought with them for 3 months because at that time there weren't any good comps in my area so they kept trying to car sales in low cost states. After going back and forth I finally got them to settle for $54,000. The first offer they gave me was $48K. I made sure to read the evaluation report, dispute everything I could and gathered my own comps and receipts. Just remember to never accept the first offer, even if you think it sounds fair. It isn't.
Expect in my case where their offer was thousands above the then current retail for a new order. This is was taxes and registration also included, along with aftermarket addons, etc. They were surprised how high their own offer was.
Make sure the base value they used is aligned with your car. Use NADA. I totaled my car (my fault) and Geico used a base model (50)kfor their estimate and depreciated it and offered me a check for 46k (including taxes)
i went on NADA website and put in my options and my car was actually worth more that I bought it (63k) so they used the actual amount I paid (61k). After depreciation, I got 57k which is 10k more that they offered.
Go on nada website and enter your info and compare it to the base price they’re using. present the discrepancy to them. See my spreadsheet. I’m a CPA, I don’t play with my money
. I didn’t use a lawyer.Attachments
I was in the auto body business for over 45 years and can tell you to do your homework and get as many competitive prices from as many sources as you can like Edmund and Kelly blue book. The insurance company is not your friend and depending on the company can be less then fair. You might even consider using your own company and letting them collect from the other carrier.
Just read your story and man, you really lucked out! My situation wasn't too bad since I got the full federal and state rebates for my old car. So I really ended up just losing the cost of the wrap/tint. I then bought the 2019 version with FSD (had EAP before), but didn't splurge again on the wrap and lost free premium audio. Tesla wouldn't transfer my account to the new car. Realized I didn't really need that though since you can connect your phone and listen to music on Spotify.Expect in my case where their offer was thousands above the then current retail for a new order. This is was taxes and registration also included, along with aftermarket addons, etc. They were surprised how high their own offer was.
And FSD is really something that appreciates in value. Insurers don't see it this way though, and you won't get the true value.
Fortunately for me, I can't speak from experience about a totaled vehicle, but only a couple of things to state (that are pretty obvious):
1) You don't want a Rebuilt Tesla. Period. Exclamation Point. Only fools buy them due to how Tesla cuts you off from everything. I don't care if your car is 1 of 1. Never own a Salvaged one.
2) The values need to be kinda weird on Teslas. For instance, I got a very good deal on my late 2014 w/105k miles at $24.5k and after MCU2 upgrade and brake work and such, could probably sell it for $30k. Tesla and Carvana offered around $16,000 for the vehicle, despite having no Tesla for sale less than $28,000 and that's for a pre-AP1, 60kw (mine is 85).
If you get an absurdly low value, make sure you have them evaluate the current marketplace and not just KBB values or whatever.
1) You don't want a Rebuilt Tesla. Period. Exclamation Point. Only fools buy them due to how Tesla cuts you off from everything. I don't care if your car is 1 of 1. Never own a Salvaged one.
2) The values need to be kinda weird on Teslas. For instance, I got a very good deal on my late 2014 w/105k miles at $24.5k and after MCU2 upgrade and brake work and such, could probably sell it for $30k. Tesla and Carvana offered around $16,000 for the vehicle, despite having no Tesla for sale less than $28,000 and that's for a pre-AP1, 60kw (mine is 85).
If you get an absurdly low value, make sure you have them evaluate the current marketplace and not just KBB values or whatever.
RedBaronCircus
Member
I'm going to tell you to make sure to send video from rear camera to their company and also tell them your filing a DVC.( Diminished Value Claim). Which accounts for even totaled cars of any type. I was also rear ended. His company paid $8k for repairs after seeing video and then sent me check for $9.5k for diminished resale value of the car 2018 P3D fully equipped. Need more info. Get in touch with me..!!
