Expenses to vehicle before total loss, covered?

[notatfault]

What is the name of your state? Maryland

I've just involved in an auto accident that was completely the other drivers fault (rear-end collision). I drive an older vehicle with very high miles. However, I just spent over 1500 in repairs which included a used engine with only 55,000 miles. The insurance company says that all my repairs just prior to this accident do not change the valuation of my vehicle by much at all ($150). Is there anything I can do?

 

[racer72]

No. The amount of money spent on vehicle repairs and upgrades never translates into an equal increase in value. The 10% bump sounds about right.

 

[notatfault]

No chance in court?

Is that necessarily 'fair and just'?... Would I stand a chance taking them to court for at least 50% of the difference ?

 

[knotcops]

Re: No chance in court?

Is that necessarily 'fair and just'?... Would I stand a chance taking them to court for at least 50% of the difference ?

You can try, but more than likely your just wasting your time. Fair market value is just that, fair market value. It was your choice to dump money into a vehicle that doesn't have much value.

 

[notatfault]

ok

My intention was to enhance the vehicles value by replacing/upgrading its components. The "fair" market value is BS. It actually is just a value that is mathematically calculated (with some BS factors) to make situations like this easier to handle (for everyone except the owner)... not to actually give anyone what the car is worth.

Thanks for your input.

 

[knotcops]

Re: ok

My intention was to enhance the vehicles value by replacing/upgrading its components. The "fair" market value is BS. It actually is just a value that is mathematically calculated (with some BS factors) to make situations like this easier to handle (for everyone except the owner)... not to actually give anyone what the car is worth.

Thanks for your input.

Actually, the fair market value is determined by using the Kelly Blue Book, NADA and others. It is not a BS factor determined by the insurance industry to try to screw you and others.

You haven't told us how old the car is, how many miles are on it, the condition of the body prior to the accident, etc. These are what will determine the fair market value.

 

[notatfault]

ok

The only ratings that they have are "clean" and "extra clean"... it was rated clean, which is the best rating for a car of its age. The interior is nearly spot free. Everything works. Some minor dings on the paint/exterior. Fully loaded EX model. Recently replaced the engine with one that has 52k miles on it. The car as a whole has 170k miles.

It's still some mathematical formula to generically put a value on a car... other factors should come into play like a REPLACED ENGINE that has significantly less milage