Car accident - insurance reimbursement for damage

I was in a four-car wreck a few weeks back. My car, luckily, received only some minor scratches and a small dent on my rear bumper. The dude who caused the crash, his insurance company sent me a check the other day for $340.40. My car is eight years old with 127,000-plus miles. It's in good shape for its age and wear. It's fully paid for and I have no intentions on getting rid of it in the near future.

I'm thinking of just pocketing the money and getting some other minor repairs to my car (air filter, battery, perhaps replace the cracked windshield). Should I pocket the money like that? I really don't see how fixing the bumper will help the resale value much, because frankly there won't be much of a resale value when the time comes to get another car.

Advice?

 

If it is just a ding on the bumper, and you have 127,000 on it... keep the money.

 

Haven't you already answered your own question?

 

Yeah, I guess so, but I have never been in an accident before where I get money from an insurance company. For the first time in my life, I had a check in my hands and didn't really know what to do with it.

 

I had a fairly small dent removed from my car and it was $500. The insurance company might be low-balling you, thinking you'll just cash the check.

If you're satisfied, and you've made sure the wreck did no other damage that you can't see, sure, take the check buy some beers, etc. But once you sign the check, they're done with you and if you find something later like frame damage, you're fucked.

 

Get an estimate on how much it would cost to completely fix your car up the way it was before the accident. You sure that windshield was cracked before the accident?

If it is less than $340.40, throw it out and cash the check.

If it's more, write the at-fault driver's insurance company a letter and demand another check to cover the difference. Or, have YOUR insurance company write the letter.

Do not, do not, do NOT, under any circumstances, FAIL to cash the check. Wait until you see if you can wring any more money out of them, but do not fail to cash it.

 

Fucking rock on the highway two years ago on a business trip.

I am thinking I'm just going to cash the check.

 

Damn. Where I'm from we have to get at least two estimates, tell the ins. co. the estimates and they go with the lower (est) one. They make the check out to the body shop, not the person who owns the vehicle.

 

Cash the check... run. do not walk...

 

Keep the money.

What is the book value of your car? Screw convenience. Get a new air filter and fix anything safety related.

If your windshield has just a small crack, there's a $5-$10 kit you can get at an auto parts store. You basically wind up forcing some clear gel into the crack and it makes the crack almost disappear. If i remember correctly, it involves a couple of suction cups and possibly a hair dryer.

If the crack is more than a couple of inches, you might can still get it fixed rather than replaced. There are many places that do it. The AAA here actually works with one glass company for free repairs. They're expensive suckers and insurance companies are usually happy to cover the deductible for cracks rather than pay for the whole new windshield.