OPCF 43 Coverage

[robkal]

Hi There,

We have a 2021 F150 that was ordered almost a year prior, it was rear ended, we have OPCF 43 coverage on it, but I'm having a hard time figuring out the coverage anyways.

When we bought the truck we had incentives that no longer exist, and the truck has appreciated in value instead of depreciated. if they write off the truck are we basically getting our money back, and not what its actually worth?

Thanks.

 

[sovereignone]

@robkal OPCF normally covers the lesser of MSRP or actual purchase price. So if you had incentives that lowered the actual purchase price, that should be what you get back since that's what you actually paid.

There was a thread on, I think, PersonalFinanceCanada, where someone was in a similar situation and could've sold their vehicle for more than what they were entitled to under OPCF 43, and their insurance was sticking to that lower amount. There really isn't a precedent for this type of situation and I think you'd just have to push with your individual insurer with supporting documents if you think you're entitled to the higher amount.

 

[craftymama]

@robkal Your truck certainly hasn’t appreciated in value.