Saturday, my Mom and Dad were in a pretty serious car wreck. They were driving down a state highway at approximately 70 mph (the speed limit) and a truck pulled out in front of them. I don't know the actual speed of the impact, but it was pretty high. All of the front and side curtain airbags went off. My Dad broke his hand and both him and my Mom were pretty bruised up and sore as of this morning. They went to the hospital to get checked out and they were both okay other than the broken hand. Don't know much about the condition of the other party, but my folks saw them walking out of the hospital at about the same time. The accident was clearly their fault.

The truck my folks were driving is a 2024 F-250 Super Duty XLT with a 6.7L PS Diesel. My Dad bought it brand new less than 24 hours before the wreck. It had 180 miles on it. How much do you think the damage bill will be? Totaled?

This was his second truck to buy in a month, because he bought a used 2022 F250 a couple of weeks ago that turned out to have some serious concealed issues. He traded it in at a loss with full disclosure to buy this truck. So this is an incredibly ****ty situation. Don't know anything about the insurance status of the other driver. He's going to turn it over to his insurance company to let them handle it. Best to let them handle medical claim as well?

In this kind of scenario, is it likely that he'll only get the depreciated value (Drive off the lot and lose $5K) or should he expect some kind of full replacement value? This is assuming it's totaled.

If not totaled, what percentage of value for a diminished value claim? Would of course prefer totaled in this scenario.

Have to give the Ford and Ram credit for keeping their occupants alive in this kind of wreck. I do think the impact was right behind the driver of the Ram, so that helped him.

I'm just thankful that my folks are mostly okay, trucks can be replaced or repaired.

This is the only photo I have so far:

EMY92 said:

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I'm going to assume there might be slight depression, but it will be hard to find comps for a truck with under 100 miles that isn't selling for new prices. I would be pushing for full value. You have a great case for value when the purchase was less than 24 hours prior.

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Thanks, that's what we're hoping for.

danieljustin06 said:

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For a not-at-fault accident it should be full replacement. Hopefully they have good insurance that will go to bat from them. Texas Farm Bureau always did the right thing. Unfortunately, their rates are ridiculous.

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My folks have Texas Farm Bureau, but not sure what the other driver had.

I have my home insurance through them, since they were the first company I found that would cover my house with Aluminum siding. Seems pretty reasonable price wise, but my acts of nature deductible just went to 2% which makes roof coverage pointless. I've never had them quote my auto insurance, because I've got a really good rate through progressive right now.

They should be fine then. For the not at fault accidents I've been in, FB always covered at or more than what the repairs were. If they know their agent well that helps a lot too in talking with the adjuster even though I've never had an issue.

We had a similar situation and it wasn't very fun to navigate. Brand new Platinum Expy in '21. Only had it for a couple of days and 300 miles on it when a kid down the street blew a stop sign and totaled it. It had been added to our policy, however I hadn't updated the coverage to include 'new vehicle replacement', but had scheduled the visit with my insurance broker later that week...

To compound it, the kid had the state minimum coverage ($25k), and that was during the insane auto supply shortages. Because we didn't have 'new vehicle replacement', the insurance company had to find comps for a similar used vehicle. Luckily, due to the extremely limited supply, there were no used similar Expeditions, and the one they found was the same cost as a new one and we basically ended up whole, including deductible (though it was a challenge to turn around and find yet another Expedition at that time). I'm not sure we'd be quite as lucky today, but I don't think it would be far off.

But dang, those two insurance companies fought it out for almost two years and we ended up getting a check for our deductible. I'm not sure how all that worked behind the scenes since we had already been paid by our company. I hope it's easier for you and glad they're ok. That's scary.

ETA - I think some insurers require 'new car replacement' on a new vehicle if you have a loan, but I could be wrong.

Quote:

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Totaled?

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All the air bags deployed?

Yes

I'd be ready to have to file through their own insurance, most likely the at fault carrier will hit Policy Limits and won't be able to pay more than 25 or 50k out. I'd suggest notifying their own insurance as well and prob just file through them to eliminate as many headaches as possible and reduce amount of delays.

Totaled for sure, the insurance company will also factor in what the truck will get at a salvage auction and being a diesel if the engine is ok ill get 35-45% of the value at the auction for a diesel engine truck. If your parents file through their own carrier and it is repairable, they are not eligible for diminished value. As another poster said if they are not at fault, the other drives Property Damage limits is likely breached and they will have to use their own coverage.

Also for a almost new truck, the insurance company will likely value off of new trucks listed and/or dealer quotes for a new truck like your parents and take slight deduction for the miles. Make sure the insurance adjuster has every option/trim level package on it