Handguns
Subscribe
Home› Off Topic
Carfax
So I backed into a friend's wife's car during the hurricane. Broken tailight on my truck ($50 repair). Almost 2 grand on his wife's car. :banghead He's worried about getting a Carfax report on her car leading to a reduction in future resale value. I've spoken to my agent (Geico) and they told me they do not file Carfax reports nor do they have any affiliation with them whatsoever. Everything I've been able to find online points to either the Police or the repair shop as the ones who submit data to Carfax. Geico told me the same thing. We didn't file a police report so no worries there.
I've never filed a claim in my life and my policy provides 100% coverage for damage to his car with no deductible. So, I'd much rather let Geico pay the bill than me pay out of pocket. They told me straight up I won't see an increase in my premiums over this. So the repair shop is the last hurdle to clear in regards to Carfax as best as I can tell... I mean if the repair shop insists on filing a Carfax report, why would I pay out of pocket? Still, my friend is worried that Carfax is going to somehow have access to Geico's claims database. I don't see how they could without Geico's permission. Still, I want to make sure.
Anyone have any input? Do I understand the system properly? Is there no worry of Carfax obtaining data from Geico somehow? Is it truly down to the repair shop at this point?
I've never filed a claim in my life and my policy provides 100% coverage for damage to his car with no deductible. So, I'd much rather let Geico pay the bill than me pay out of pocket. They told me straight up I won't see an increase in my premiums over this. So the repair shop is the last hurdle to clear in regards to Carfax as best as I can tell... I mean if the repair shop insists on filing a Carfax report, why would I pay out of pocket? Still, my friend is worried that Carfax is going to somehow have access to Geico's claims database. I don't see how they could without Geico's permission. Still, I want to make sure.
Anyone have any input? Do I understand the system properly? Is there no worry of Carfax obtaining data from Geico somehow? Is it truly down to the repair shop at this point?
"Ninety percent I'll spend on good times, women and Irish whiskey. The other ten percent, I'll probably waste..."
-- Tug McGraw on getting a raise
Get Down Fishing Charters - Port Canaveral, Florida
-- Tug McGraw on getting a raise
Get Down Fishing Charters - Port Canaveral, Florida
Replies
https://www.carfax.com/company/vhr-data-sources
Is it possible he wants you to offer him in cash what the repairs would be and he pockets the cash and deals with the repairs himself?
If it is "cosmetic damage" which at backup speeds I would guess it probably is. Truth be told regardless of a "carfax".......depending on age and current condition........the car may actually sell for more after the repair than it would have before.......of course his car dealer buddy who wants to get it as a trade in on his next car purchase will tell him it's tainted and worthless.:grin
I believe shops may be required to submit damage reports on vehicles in there shop for repair.
They sell any kind of insurance you can imagine nowadays........you got to shop around........some have no deductible ever........some always have some..........some have it at first but it disappears after so many years with no claims.
Different policies may require you to meet certain criteria to be eligible to purchase them.....ie safe driver, good credit, certain age etc.
The damage is not to his vehicle, but the other car. His policy is paying it out of his liability insurance. the other car made the claim against his insurance rather than their own to avoid the deductible issue.
Former Mini Mart Magnate
I am just here for my amusement.
:Griz
Florida is a diminished value state, you can claim diminished value losses in Florida.
Former Mini Mart Magnate
I am just here for my amusement.
When did that start!
:Griz
He's a good friend that had a bad experience with Carfax on damage he himself caused to another vehicle of his in the past. The Carfax report showed up when he traded that vehicle in for a new one resulting in a $1500 reduction in value of his trade. He was under the impression that his insurance company reported data to Carfax and he is simply trying to avoid a similar Carfax report on his wife's car. So I told him I would do my best to make him whole and prevent him showing up on another Carfax report.
I'm now convinced that my insurance company does NOT report data to Carfax. They told me that straight up and evidence presented in this thread supports it. So it appears that the only possibility of that happening now lies with the repair shop. If it would have been a couple few hundred bucks or so, I would have just told him to give me the bill after his car was repaired and I never would have even called my insurance company. Two thousand bucks is another matter. I'm not going to dip that deep into my pockets especially if the shop is going to create a Carfax report anyway (and I don't yet know if his chosen shop does or not). If they do, perhaps I can get my friend Benjamin :wink to convince his guy to conveniently forget to file the Carfax report on my buddy's car.
I have a $1000 deductible on damage to MY vehicles. For damage to someone else's vehicle, there is no deductible. To my knowledge, he has not contacted his insurance company nor does he intend to. I called my agent, he said to ask my friend to get a repair estimate and my company would send an adjuster out to verify it and then pay the bill. I'm under the impression his insurance company will never be involved. :shrug
I'm not sure what a diminished value state means. Discussions about insurance give me a headache. Does that mean my insurance policy will pay him even more to cover any loss in value to his vehicle?
-- Tug McGraw on getting a raise
Get Down Fishing Charters - Port Canaveral, Florida
I never understood the Carfax thing. Is it a LAW that shops report to Carfax? Or does Carfax PAY shops for the report. I would simply ask the shop if they report to Carfax and if they do, take it elsewhere.
Diminished value is the perceived value of a vehicle after repairs are made. Considering most people would pay less for a repaired car even if it was perfect is where this began. I had some damage a few years back and when I asked for diminish value, it took some back and forth but I finally got it. I am not sure how they calculate it, but it is obviously tied to the value of the vehicle. You have to ask for it, they will not automatically include this part. And they will act like they don't know what it is, so you might need to push a bit.
Don't know, but i know lawyers advertise getting diminished value for you. I have never tried to get it myself.
Former Mini Mart Magnate
I am just here for my amusement.
Not on the liability portion.
Former Mini Mart Magnate
I am just here for my amusement.
Then the dealers body shops will report service work recalls etc
To carfax.
The insurance co report total loss senarios.
Sorry bout you bad luck Tim
www.seaspy.theplan.com