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Rev

1

OP got scammed regardless of whether KBB was significantly higher unless OP can be "made whole" with the amount received, which seems unlikely. Just because the vehicle in its age and condition would have been sellable to someone else at the insurance-assessed value does not mean OP can be made whole for that amount. Part of the value of a vehicle is non-transferrable: knowledge of (and trust in) what is and isn't wrong with it. If OP buys another person's used vehicle "comparable" to theirs on the market, they have no way of knowing it won't have hidden expensive problems.
– R.. GitHub STOP HELPING ICE
Commented Aug 11, 2021 at 16:04
@R..GitHubSTOPHELPINGICE If a thing is non-transferrable then it has no value in the market - how a thing you can't buy or sell has any meaning on an exchange of goods? In the same vein you can never be certain if the car you're buying has expensive hidden problems, the person buying your car has no meaning of knowing the same. Thus, that knowledge is, unfortunately, effectively valueless.
– T. Sar
Commented Aug 11, 2021 at 16:25
@R..GitHubSTOPHELPINGICE Assuming the car is fully paid then you can forgo comprehensive insurance since you feel it doesn't help. Besides this how do you recommend the insurance company handles the situation?
– MonkeyZeus
Commented Aug 11, 2021 at 17:27
2

@T.Sar: That's exactly my point. The knowledge only has value to you because you're the only one who can trust it. But the insurance company cannot make you whole by only giving you enough money to buy a car for which you don't have that knowledge. They can only do that by repairing your car, buying you a new car equivalent to the one you had (assuming that you can trust a new car not to have hidden problems) or offering a warranty for any car you buy that has unexpected problems. They are almost surely not going to do any of that. Thus my claim that "totaled" is a scam.
– R.. GitHub STOP HELPING ICE
Commented Aug 11, 2021 at 18:04
1

@R..GitHubSTOPHELPINGICE You seem to be implying that if I crash my 20-year-old junker badly enough that it's irreparable, the only reasonable thing an insurance company could do is buy me a new car. That's pretty ridiculous. Never mind that you can't be sure your car doesn't have hidden problems, either.
– Chris
Commented Aug 11, 2021 at 19:22

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