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Discussion Starter · #1 ·
I got my 2002 SSM Type-S in February 2006 with 42,000 mi. Drove it as a daily driver from then until now. Over thanksgiving a guy left his pickup truck running at the top of my hill while he used a port-a-potty. Apparently forgot the parking brake, because it rolled down the hill and popped my RSX in the front bumper. Just enough of a hit to bend the radiator support and total it. They'll be picking the car up just after its 22nd birthday and with 163,000 on the clock. Not a bad run (though a shitty way to go, quite literally). Honestly it's about this car's time to go - starting to have some motor weirdness and tons of cosmetic issues, more than I can keep up with.

It's been an amazing car and an endless source of projects. Have loved being a forum member here and hope to own another again someday (I may or may not have alerts on for RSX'es on every used car site there is).

Here it is when I got it:



And last year after a detailing:

 

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Sorry to hear about your misfortune! Did an airbag deploy? With the prices these have been selling for as of late, I can't imagine it would be totaled w/o one of those deploying, unless it had other mechanical/body issues.
 

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Discussion Starter · #3 ·
No airbag, but with the radiator support their estimate came to over $5,000 of work, at which point they're > 75% of the value of the car. I think insurance is probably under-estimating the car's value a bit given current prices but not sure there is a way around that as I'm sure it's a predetermined formula. Will see what they offer me as far as a check, they haven't specified the price they plan to pay yet.
 

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Are you committed to selling it to the insurance company at this point? If not, see what their offer is and then see what you can get for it privately. There might be someone that can do the repair themselves that would offer you a better price.
 

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No airbag, but with the radiator support their estimate came to over $5,000 of work, at which point they're > 75% of the value of the car. I think insurance is probably under-estimating the car's value a bit given current prices but not sure there is a way around that as I'm sure it's a predetermined formula. Will see what they offer me as far as a check, they haven't specified the price they plan to pay yet.
I recommend doing some of your own research on pricing as the asking prices are ~$8k+ for similar, and there aren't too many 2002 RSX Type-S' on the market. Some folks have had success in negotiating w/ the insurance company on valuations, but the mileage varies. Even if it's still a total lose, you want to walk away with a check based on a fair valuation of the car under the current market, not one which is lowered by years prior where availability was higher, demand was lower and inflation hadn't set in. Also, the typical threshold for totaling a car is 80%, not 75%, so I'm curious why they're lowering their threshold.
 

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Discussion Starter · #6 ·
Are you committed to selling it to the insurance company at this point? If not, see what their offer is and then see what you can get for it privately. There might be someone that can do the repair themselves that would offer you a better price.
I've thought about it. But TBH unless the difference was large (5,000+) I would take the insurance check
 

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Discussion Starter · #7 ·
Eek. Insurance offer is $3,600 for the car. Comparable Type-S with similar mileage seem to be $10,000+. Will try to negotiate but they said they aren't responsible for paying market value. It's unfortunately a budget rate insurance co which seems intent on nickel and diming / minimizing payouts.
 

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I'm pretty sure they're required to follow market value when making a determination for a total loss; otherwise, how can they say it's 75%, or 80%, of the vehicle's value? Might check with your state's department of insurance to confirm whatever the case may be. If, as I suggested, they are required either by a specific law or some fiduciary requirement, then that department may be instrumental in getting things ironed out.
 

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Discussion Starter · #9 ·
I'm pretty sure they're required to follow market value when making a determination for a total loss; otherwise, how can they say it's 75%, or 80%, of the vehicle's value? Might check with your state's department of insurance to confirm whatever the case may be. If, as I suggested, they are required either by a specific law or some fiduciary requirement, then that department may be instrumental in getting things ironed out.
Yeah, actually, there is a page on Texas law for this that pretty clearly states the owner has rights to contest if being paid less than market value. I got in touch with an agency that does this sort of work for diminished value / total loss discrepancies. I probably don't have the energy to lawyer up and fight a legal battle right now (plus I assume a lawyer fee would eat most of the proceeds), but I like the idea of working with this appraisal agency to see if we can get a better price. It would be great if I can get a more reasonable market rate for it (or closer to) so that I can roll it into buying a replacement car.
 

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Yeah, actually, there is a page on Texas law for this that pretty clearly states the owner has rights to contest if being paid less than market value. I got in touch with an agency that does this sort of work for diminished value / total loss discrepancies. I probably don't have the energy to lawyer up and fight a legal battle right now (plus I assume a lawyer fee would eat most of the proceeds), but I like the idea of working with this appraisal agency to see if we can get a better price. It would be great if I can get a more reasonable market rate for it (or closer to) so that I can roll it into buying a replacement car.
The Texas Department of Insurance can probably serve in the place of getting your own lawyer. Here are some links to their website which may be of some assistance:



 

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Discussion Starter · #11 ·
The Texas Department of Insurance can probably serve in the place of getting your own lawyer. Here are some links to their website which may be of some assistance:
thanks, looking at some of the same stuff. I'm at step 2 - work with an appraiser now and may escalate if needed. Worth a shot as this payout is clearly low.
 
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