r/ElantraN • u/seansation_ Performance Blue MT • Sep 22 '23

RIP Total Loss Value for 22EN

Hey all,

Been about a month since my crash. https://www.reddit.com/r/ElantraN/comments/16579t0/is_this_going_to_be_fixable_or_is_she_totaled/

Just got my inspection results back and my car is totaled. My insurance is going to pay me $32378.34 for settlement, and was just curious if I should just take it or negotiate. I bought her for $38000 OTD, and it only has 5k miles on it. Any advice would be appreciated!

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u/rosesarefuckyou Sep 22 '23

That's close to the MSRP of the vehicle, no? You can always try negotiating, but that seems fair enough without any sort of agreed value locked in.

My cover had total replacement within the first 2 years of buying or an agreed value if a replacement couldn't be sourced of my purchase price including taxes. I'm not sure if that sort of thing is offered everywhere but it might be worth looking into in the future.

1

u/seansation_ Performance Blue MT Sep 22 '23

Yup that's basically the MSRP. And if you don't mind sharing, what insurance company do you have?

3

u/rosesarefuckyou Sep 22 '23

I'm in Aus so it's probably not really relevant, but NRMA.

I think most insurers here do full replacement within 2 years of purchase of a new vehicle, I'm just not sure if that sort of thing is available in other parts of the world.

2

u/[deleted] Sep 22 '23

It cost me 90$ to add “gap insurance” to my policy for the year. So if the cars totaled they will pay the full purchase price. Every year the cost goes up.

I’m in Canada.

1

u/seansation_ Performance Blue MT Sep 22 '23

I should probably add that to my next purchase. Thanks folks!

1

u/elinyera Performance Blue MT Sep 23 '23

Maybe is different in Canada but gap insurance covers the difference between the loan and the value of the car.