Car Accident in parking lot?

Question:
My car was parked in my reserved parking space in my apartment and at the time of accident I was in my apartment. A guy from no where cuts across the street ( don't know what speed he was doing) could not control his car and comes straight to my parking space and in the process he hits 4 cars, including mine. I have already informed my insurance company. It seems my car is total loss.
a. How will insurance pay me ? how will they estimate the cost of car? Will they use Kelly Blue Book or something like that?
b. Do I need to contact other guy's insurance company as well or my insurance will take care of that ?

Answers:

Vehicle insurance question?

You did the right thing to notify your company, but I would also recommend notifying the other person company also. That way if your car is in fact a total loss you can get an offer from both companies and take the higher settlement. This assumes that the other car has enough coverage to pay all 4 claims. If he has enough coverage then you can settle with his company without a deductible and they will provide you a rental car for a short time.

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The companies will have an appraiser inspect your car. They will write an estimate of the damages to determine if the car is a total loss. In most states having damages in excess of 70% of the value will make the car a total loss.

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Many companies use services such as CCC or ADP to place a value on total loss vehicles. If not they will use some kind of combination of NADA, Kelley blue book and dealer quotes. No matter which method they use make sure to ask them for a copy of the documentation that they used.

Driver liecense !!I am going to turn 19 this may?

If you think the car is a total loss then you should do your own research. Start with a site like http://www.autotrader.com and look for cars like yours for sale in your area.

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Good Luck

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AAA Auto Extended Warranty?

1. Insurance will pay you actual cash value of your vehicle- check out nada.com
2. Yes, they will do an estimate to determine if it is cheaper to repair or replace your car- they will do the cheaper of the two
3. Your insurance should be able to contact the at fault parties insurance for you- but if you contact them and go directly through his policy.. you wont have to pay a deductible

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Bought a car with title, but dmv says cannot give me tag.?

Do you owe more on your car than it is worth? If so, do you have GAP insurance?

If I smash into a parked newer luxury car and i have a basic liability coverage which only covers upto $15,000

Other than that, call your insurance company and give them the other guy's info. They will pay you based on your car's retail value.

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