Hail damage totaled my 01 LC
- Thread starter sleepdoc
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- Thread starter
- #62
yeah...that is way overpriced but hopefully will help my plan!Let’s all post our cruisers for sale in his area for $16k.
- Thread starter
- #63
Quick update.
Farmers came back with new numbers after I sent them comparable vehicle values and said they would increase the value of my cruiser from $8790.00 to $11,549.83. I am pleased with that.
Initially I would get $4165.80 if I decided to keep it because of deductible of $1000 and the salvage value was $4019.00. Today they said if I keep it, the check I would receive would be for $6035.82. That would mean the salvage value went up to $5033. How can the salvage value, which I was told came straight from Copart, suddenly increase over $1000 from a few days ago for they exact same vehicle? This whole thing is a freaking scam!
I have tried to reach the claims rep multiple times for explanation and have gotten VM every time. If I did the math correctly I should be able to keep the car and get $7049.82. Am I missing something?
Farmers came back with new numbers after I sent them comparable vehicle values and said they would increase the value of my cruiser from $8790.00 to $11,549.83. I am pleased with that.
Initially I would get $4165.80 if I decided to keep it because of deductible of $1000 and the salvage value was $4019.00. Today they said if I keep it, the check I would receive would be for $6035.82. That would mean the salvage value went up to $5033. How can the salvage value, which I was told came straight from Copart, suddenly increase over $1000 from a few days ago for they exact same vehicle? This whole thing is a freaking scam!
I have tried to reach the claims rep multiple times for explanation and have gotten VM every time. If I did the math correctly I should be able to keep the car and get $7049.82. Am I missing something?
Now you are learning how the negotiation process works. They start low and you start high and you meet in the middle. Your insurance company has no love for you on a personal level you are just a policy number. This is how it works you try to get the most they try to py the least.
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- #65
But how can the salvage value go up?
I think what people are saying is that it’s all BS not based in fact or accepted values. It’s a negotiation and the more of a hard ass you are the better you come out. Push back and don’t take no for an answer. These guys are not your friends.
It's kind of like trading in your "old car" for "new car". The dealer can give you retail for your old beater, if you're willing to pay retail for your new car, or they can give you wholesale for your old beater if you have to pay wholesale for your new car.
In my experience, insurance companies are great when they're taking your money, but not so great when it comes time for them to actually pay a claim.
In my experience, insurance companies are great when they're taking your money, but not so great when it comes time for them to actually pay a claim.
REKCUT
SILVER Star
Take your time and keep asking them questions.
You got em- you just need to stick to your guns! They confirmed $4,019 for salvage already. Keep waving that in front of them. (Fact) They confirmed a new value of $11,549.83 (Fact- don't let them wiggle!)
(You have this in writing, I hope.) Make them do what they say. Be firm & polite and as a last resort, hint at arbitration/litigation.
Best wishes!
(You have this in writing, I hope.) Make them do what they say. Be firm & polite and as a last resort, hint at arbitration/litigation.
Best wishes!
This is why I would have started with the salvage being $1,000.00 and work on total value with comparisons. I worked for an insurance company for just shy of 20 yrs. You have to attach both points, the total vehicle value and what they state the salvage value should be. If they give in one direction, they are going to retract on the other point. If you are serious about sticking to your guns regarding settling this claim, then buckle in, because it can be a 2-3 month process.
Yes- mine took 6 months
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- #72
Well, mine didn't take six months. My agent called on my behalf and they agreed to stick with the original salvage value of $4019 and the second retail value of 11,549.00 so I am going to buy it back at those numbers. Thanks for all the assistance through this. I appreciate the ideas and encouragement.
