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Problem: My P3D is getting more valuable as time goes on!
- Thread starter Garlan Garner
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- free features. insurance
Oh... Wow, that's high. At that price, cost would be about the same for me as premium gas here in CO.
ModelNforNerd
Active Member
I get the Actual Cash Value of the car +20%
would that be enough to cover the mods, the Supercharging, and the Premium Connectivity?
No. Mostly because of the mods, and not the FUSC or data.
would that be enough to cover the mods, the Supercharging, and the Premium Connectivity?
No. Mostly because of the mods, and not the FUSC or data.
If your car is totaled, then the insurance company will have to appraise the value of the car at the time. These features should be taken into account.
No..... Allstate pays out up to what you owe on the car.....even if its more than the value of the car.
They should be?
Unfortunately "should" is not policy.
Lastly...Allstate says that those features WON'T be taken into account because there is no way to assess a value to them.
Of course they can assess a value for them. They just don't want to bother with it because it isn't yet a competitive factor.
What if you own it, then what value do they pay? Do they ask you your loan balance before a quote? If so I would guess they price in any imbalance.
Well, it's always a negotiation. They say the car was worth X, you say it was Y.
Negotiation?
What is always a negotiation?
Allstate has a policy. That's why I chose them - so that nothing will be a negotiation. I don't have an arbitrary policy. I have a static policy.
Neither myself or Allstate disagree on what my policy covers.
My primary concern as far as insurance is concerned is that they cover my FULL loan - no matter what the car is worth.
My secondary concern is that they won't/can't cover things that don't have a pre-defined value.
No one here has been able to place a value on Free Unlimited Supercharging or Free Connectivity for life.
OP should have taken the $5000 refund while he could. Worked out great for me because I traded it for a Model X that comes with free supercharging. OP will very unlikely use it all. And like he says if you trade, sell or get totaled, poof, it’s gone. And if you trade to Tesla FSD has no value either. I think most folks are unlikely to keep a car like this longer than 5 years. And risky keeping it past 120K miles (battery and drivetrain warranty expires).
Free connectivity is worth like $1000 tops. Free super charging is worth typically a couple thousand, to much SuperCharging will harm the battery more than it will save you money.m. If the car is totaled this is chump change. And OP should be happy if they get reasonable valuation regardless of these options and nobody is hurt.
Insurance is to protect you from a disaster.
Free connectivity is worth like $1000 tops. Free super charging is worth typically a couple thousand, to much SuperCharging will harm the battery more than it will save you money.m. If the car is totaled this is chump change. And OP should be happy if they get reasonable valuation regardless of these options and nobody is hurt.
Insurance is to protect you from a disaster.
I have been in negotiations with Allstate, they will grind you more than most insurance companies. When you have a claim and you are not negotiating the value or settlement then in most cases you are at the sort end of the stick. Your coverage is also subjective, trust me this will be debated as the dollar figures increase in a case or settlement. Insurance companies are there to pay you as little as possible and some are worse than others and when it suits their best interest they will throw you under the bus. Some companies like Auto Club are far better in this regard and likely one of the best but more costly companies but worth it. I see many unfavorable insurance companies in this thread and I would recommend fully researching companies because most seem great until you have a big claim not a minor incident and this is where you see the blaring differences. I can tell you that a little negotiation can yield you thousands of dollars, there has never been an insurance settlement I have had where I have not negotiated significantly more money. Your policy declaration summary is just that, the company and people behind it determine your outcome.
If your car is totaled, aren't they supposed to pay to the fair market value of your car? How does one determine the fair market value of a car? Isn't there always disagreement about the value?
Some companies offer Full MSRP (or price paid) for up to 2 years (like Geico) if you buy that extra option. I think 1 year is standard 2 years is optional. It sounds like he got FSD included in that (price paid figure). But it sounds like he also has an option that if his loan exceeds fair market value (under water), the loan will be paid off in full. So in those two cases there wouldn't be any negotiating.
I'd personally never have a car loan that's underwater at any time though.
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