My 10 month old 2006 red Prius died yesterday.

<div class='quotetop'>QUOTE(ilovemyprius @ Oct 9 2006, 02:43 PM) [snapback]330243[/snapback]</div>

No, but I do know a little bit about insurance... If your insurance (or theirs) totals the car, they usually pay out based on what the vehicle is worth (blue book or black book), not what you owe on it. A brand new vehicle takes a substantial hit in value the moment you drive it off the lot, so yours (being only 10 months old) is probably worth less than you owe on it at the moment, which would leave you at a disadvantage. UNLESS your loan came with what is commonly called "gap insurance" -- this is special insurance designed specifically to cover this situation where the car is totaled and is worth less than you owe. If you have that, no worries. If you don't, you may run into problems with your if you are found to be at fault (but how could you be if they ran a red?). If the other driver is at fault, you can most likely talk them into covering the full amount.

But don't take my word as gospel, check with your insurance company to be sure. If you run into a hard time with either company, get a lawyer. You'll be surprised what they can do.

 

So sorry to hear of your accident. Thank goodness you and your fiance are okay. From what I've read here in other posts about Prius accidents, insurance companies do total the cars quite frequently. Good luck in dealing with your insurance company and hope it all comes out right for you!

 

Sorry to hear about your accident, but I'm very glad to hear that the both of you were all right, save for the bruising caused by the seatbelts. Every time I read an Prius-accident story on here, it makes me feel that much better about picking a car that can protect its occupants in a collision.

 

Im glad you are ok....Houston has alot of moron and irresponsible drivers; being a former Houston resident, you encounter these types all the time.

I remember an accident in 1997 I had with my Olds when I was waiting for a green light. My light turned green and I started to make my left turn. Before I knew it another car on the straightaway was going about 50 when it T-boned me from the rear end, spun me 180 degrees. And this is a car with no airbags of any kind.

Result, the woman's car was totaled completely from the front, and my car only suffered a big dent in the back door and dislodged the fuel pump (shows how solid older cars were built compared to today's cars). Her insurance company paid for my damages. Lots of stupid Houston drivers, but unfortunately drivers like them are everywhere.

Anyway, hope all works out well with the insurance and will be able to cover all your costs. I hope I don't experience an accident like that when I get my Prius soon, but I am glad to know that the car does well in accident situations like that. Makes me safer buying and driving one.

 

I was TBoned at 40MPH on the driver's door years back. Bruises, back problems and the photos secured the settlement swiftly and without much objection. Back still hurts.

 

I love my Prius too, so I know how bad you must feel that it got destroyed to save you. I'm pretty sure it will be totaled. I'm really glad you and your fiancé didn't get totaled!

Contrary to what Mr. Zorg said, Prius are in high demand and hold value VERY well. A recent thread recounted how a side-swiped Prius was totaled and the other party's insurance paid MORE than the original purchase price of the car. If dealers can still demand a premium over MSRP, and some do, there is no rapid depreciation in replacement value. But he was right, get a lawer if the other side balks at replacing your car with a new one.

I'm glad you're still here to tell us your tale of woe...

 

Good to hear that neither of you were seriously hurt.
You might ask your dealer for body shop recommendations, with luck some of them will also be on the insurance company's preferred list.
You might also check with your state's insurance regulator for the rules governing how the company is to value a total loss so that you'll be able to judge for yourself whether the insurance company is meeting its obligations.

 

<div class='quotetop'>QUOTE(Bill Merchant @ Oct 9 2006, 10:36 PM) [snapback]330486[/snapback]</div>

I was speaking about the depreciated value of a < 1 year old car in general. I'm glad to hear that may not be the case here (I'm new to the Prius scene), I wasn't factoring in the current hybrid craze.

 

A couple of things about insurance claims and totaling vehicles:

1. If you weren't at fault, the other insurance company should pick up the complete tab for replacement. If not, there's always the legal avenue. There is plenty out there on the web that will explain what your rights are concerning this.

2. Insurance companies total cars based on a specific formula. What is a total loss?
Most insurance companies consider a vehicle a total loss when:
Damage to the vehicle is so severe that it cannot be repaired safely, or
repairing the vehicle is not economically practical (Economically practical includes vehicle worth at time of accident, cost for repairs, rental car costs during repairs, etc.), or
state regulations require it totaled based on the amount of damage the vehicle sustained in the accident.
When a vehicle is considered a total loss, most insurance companies will:
Pay the actual cash value of the vehicle (Depreciated value) (plus applicable state fees and taxes) less any deductible. (This is not what you owe!)

3. How do insurance companies determine the value of your vehicle?
They examine the sale prices of similar vehicles in your local area (unless state law requires otherwise). They consider the pre-accident condition of your vehicle, including mileage, options and any damage not caused by the accident. The result of this process is the actual cash value of the vehicle.

So, if you're upside down in the vehicle, meaning you owe more then it's worth, AND you don't have GAP coverage, you're out what ever the difference is.

However, going back to #1, if you weren't at fault, then press the responsible parties insurance company to replace your car with a new one or pay total loan value. This may mean getting a lawyer on your side, but most people can go on-line and do some research on demand letters etc. to where they woun't have to employ one. Personally, I'd go for the replacement vehicle since yours was a 2006.

Hope this is helpful and good luck!

P.S.
My advice would be to make sure you get every scratch, ache and pain caused by the accident documented by a physician. Keep records and do NOT sign any releases handed to you from the responsible parties insurance company.

Disclaimer: I'm not a lawyer, so take this advice at your own risk!

 

First, sign nothing that indicates accepting their check in final settlement. You are not obligated to do this. They will lie and tell you you must.

If the insurance company pays less than you owe, you can still sue the owner in small claims court for the difference. This is why you should not sing anything makign any settlement "final."

Remember that insurance by the other guy who is at fault does NOT limit his liability. He bought insurance to HELP cover his liability, but the limits of the policy do not limit his liability. he must "make you whole" after the accident and if his insurance false short, he is still liable to pay you your damages.

Tough with teh high-demand Prius, but often the best way to solve this is to find a used car fo the same year and options (hopefully) and have the insurance company buy that car for you.

 

<div class='quotetop'>QUOTE(ilovemyprius @ Oct 10 2006, 06:44 PM) [snapback]330864[/snapback]</div>

I would push for a replacement, rather than a payoff. You can do that with some policies. Even if it's not offered, I would push for it.

 

Since you were not at fault, the other party's insurance should pay to replace the car. If you have a good insurance company (rather than a cheap insurance company -- and this is one of the reasons why cost is not the full picture when buying insurance) they will pay to replace your car, and then go after the other company to get reimbursed.

I'm not sure, but I think DaveinOlyWA had his car totalled. You might PM him and ask about his experience, if he does not chime in on this thread.

 

Maybe this is a little cynical of me, but yes, please post pics! You should be fine as far as any negative amount, if you only owe $15k. The Prius book's out well, it's just a matter of what you initially paid for it.

 

<div class='quotetop'>QUOTE(ilovemyprius @ Oct 9 2006, 05:43 PM) [snapback]330243[/snapback]</div>

Not sure if this car insurance is available in TX but 21st Century Insurance will pay full replacement (not depreciated) cost if a new car that is less than 1 year old is totaled. Their insurance cost is very reasonable and I had no problems with them on a claim with my wife's (non-Prius) car.

 

so sorry to hear about your loss but at least you weren't hurt.

from your description, i can't imagine that the insurance co would not total it. i had a 2004 pkg 1 totaled by the other guy's insurance co and they paid for my rental car for 3½ weeks and $1400 more than what i paid for the car.

in talking to other people, i believe my lack of options helped me as others i talked to had fully loaded cars and their settlement was only slightly higher (in one case lower) despite having thousands more in options. i may be wrong in this as i also had relatively low mileage which did play a factor im sure.

but your car is new and the old axiom about losing 20% value in the first year is completely false. the other guy should be paying REPLACEMENT value and not what your car is worth. that means they should be looking at market conditions, availability, sale prices for similiar vehicles in your area, etc.

in my accident because the fault was so obvious, the other insurance co accepted full responsibility less than 2 hours after the accident (in fact, they had accepted it based on their claimants statement and a telephone interview to me before my car was towed off the scene) but the final value of the settlement took so long because the amount of the settlement had to be approved by 3 different department managers, so the other insurance co if doing their job will being doing a lot of research.

for some numbers to consider.

total cost for purchase $22,417.37

rental car+settlement $23,807.50

not bad. basically, bought a 2006, added $2800 in options, cost me just under $2000

 

Last December, my new 2005 Prius (47 days old) was totaled when I was rear-ended. It was the other guy's fault. There were three of us in the car. We had some minor bruising but no other immediate evidence of injury. However, two months after the accident, I developed sharp back pains that I believe was associated with the accident. The pain lasted about six months.

I never did contact a lawyer, but I would recommend that you do. I ended up getting about $1000 less than replacement cost.

I would recommend taking pictures of your car (you said you were going to do that already) AND pictures of your bruising and any other physical trauma you've suffered. Then call a good personal injury lawyer. If you do this, I'd imagine you'd get back more than the replacement cost of your car.

 

<div class='quotetop'>QUOTE(ilovemyprius @ Oct 13 2006, 04:15 PM) [snapback]332504[/snapback]</div>

Your car will almost certainly be declared totaled.

If you are able to take pictures again, you might want to take pictures of damage from inside the car. For example, the deployed airbags. Also, can you see that anything inside is knocked out of alignment? The center console for example? Anything that's even slightly ajar farther back in the car that would require repair should be documented, in case they don't declare it totaled.