How long will my car insurance company take to pay out and how much will I get?
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On Saturday my car caught fire while I was driving it (apparently the fuel line came out). It's a Peugeot 206 1999 and has done 87,000 miles. It wasn't in bad condition either. It's blatently a write-off, the engine looks like one big bit of plastic. My question basically is 1) how long do insurance companies usually take to pay out on this kind of thing, and 2) what will I get? I've looked on parkers and stuff, but you have to pay to find out... so I thought I'd see if any of you lovely people know first! :)
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Answer:
It may take a while. Thefts and burned out cars usually get investigated by Special Investigative Units in insurance companies. There is a lot of fraud and that is why they get investigated. You can ask them to provide you with a rental car while they are investigating the claim. After everything checks out o.k. they will pay you the value of the car. Check the Kelly Blue Book value on it. Even though they do not only use that value anymore either. But you can get a rough idea there.
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