Insurance appraisal (1 Viewer)

[ramangain]

I agree with most everything said in terms of how to deal with the other insurance company. They have NO incentive to pay you more than they can get away with paying you since you aren't a current/paying customer of theirs.

They will tilt every proverbial windmill in their favor, so you really should be doing the same. You may have a tough time getting them to make you completely whole when factoring in your maintenance costs, but for sure THE top 5 equivalent year/mileage/condition for sale asking prices you can find in, let's say, a 1000 mile radius should suffice. This is your chance to cherry pick, just like they do.

It has also been my experience that the only comprehension of the word "fair" is when used to describe vehicle condition to assess your vehicle.

 

[LXKevin]

Here are my pics. Then I'll post the pics the appraiser took.

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Where is the picture of the damage from the accident?

 

[Poncherelli]

Like everyone says, don’t settle. To replace its going to cost you 12 to 14k. They will get there, if they don’t, go to your insurance. They are going to salvage it for 6kish and it will only cost them 8k in the end. My 2003 was totaled 3 years ago. I kept sending them classified ads with like rigs. Original offer was like 13k, we settled for a little over 20k in the end all thru the other parties insurance. It went to auction at 8k. Mine was lower miles though 118k, but years ago before the market went nuts.

Some states require insurance companies to take into account recent repairs, not sure of the time frame though.

Got a better offer today. Thx for the tips.

 

[Poncherelli]

I agree with most everything said in terms of how to deal with the other insurance company. They have NO incentive to pay you more than they can get away with paying you since you aren't a current/paying customer of theirs.

They will tilt every proverbial windmill in their favor, so you really should be doing the same. You may have a tough time getting them to make you completely whole when factoring in your maintenance costs, but for sure THE top 5 equivalent year/mileage/condition for sale asking prices you can find in, let's say, a 1000 mile radius should suffice. This is your chance to cherry pick, just like they do.

It has also been my experience that the only comprehension of the word "fair" is when used to describe vehicle condition to assess your vehicle.

I spoke with the other parties adjuster — he wouldn’t budget, even after reading the NADA definitions of fair, average, and excellent. He was stuck on one rust spot at the rear door panel and kept referring to the “rust”. So, I told him I’d file through my insurance company and they could subrogate. He got alittle snooty. My insurance company was much more fair.

 

[Poncherelli]

It won't.
I was just referring to what the poster I was responding to said.
Their payment to you will be under liability... which has some general guidelines, but like I previously stated is mostly just a negotiation and you making your case in any way possible that it is worth more. Again, routine maintenance items don't add value. So don't waste your time staying you did TB and Water pump. Looking at comps is your best bet.

So I looked at comps and the adjuster kept saying in my state it’s clear cut in cars older than 20years — NADA, pick one of 3 numbers — nothing in the middle. He wouldn’t budge from fair to average even when I showed him all the listings.

 

[Poncherelli]

I would expect them to attempt to try and dazzle you with official sounding bulls***. "we do thousands of these every year", "this is absolutely fair", "our comps say", "our standard process", "The conditions matrix shows', "the system only allows", "book value/rate for this is", "we want to make you happy, but I am only allowed to consider".... etc etc etc.

Keep it simple, be calm and cut through the BS: "Your internal processes/policies aren't my affair. If I can't properly repair or equivalently replace my truck with what you are offering, then it doesn't meet my needs or your obligations."

If they start unreasonably how, I'd start high and wouldn't sign a damn thing until I was good and happy. I hate being forced to play disingenuous games like that, but
A) not playing them means they win, which only perpetuates the system.
B) if I am forced to play, then I'll play by the same rules you do.
C) Keep trying to screw me, and at a certain point I get pissed off enough that it becomes about more than just money.

But, hey maybe that's just me. I don't like getting screwed over by unscrupulous people.

This forum gave me the presence of mind to remember that if all else fails...just keep saying no.

get comps to what you have, sale ads, sold ads, etc.
condition at the time of loss.

the insurance company wants to pay out as little as possible.

years ago we had a loss with brand new tires, no extra dollars for the tires, I took them off and had mismatched baldies put on, as long as there was tires on it that was all that mattered

make sure everything is accounted for, all options are checked off and accurate.

good luck
did you have full coverage? what does your insurance say about it?

thank you for the recommendation to talk to my insurance. They were more reasonable with their valuation and offered me the average NADA price, which I’m good with.

 

[Poncherelli]

There are a few threads on here that have some good input on dealing with this.

1. DO NOT AGREE TO ANYTHING.... ANYTHING UNTIL YOU ARE SATISFIED (this includes moving the vehicle from storage yard, removal of parts, etc.)
2. Insurance companies are not in the business of paying out. No matter how "nice" or "good" your agent is, they are not in the business of paying you full worth of ANYTHING covered. This is coming from my ex-SIL who is an agent. They will attempt to low-ball you as much as they can by bullying and pressuring you to agree to things. The longer that the vehicle sits in an evaluators lot, tow yard, etc. the more they have to pay out so they will try to pressure you to agree to something as soon as possible.
3. Depending on your policy, you may only have certain coverage and not stated value. So negotiating the highest amount possible may be a hard pill to swallow. Do as the others have said and gather REGIONAL sales/sold ads to show them worth of vehicle. The more ammo you present to them for your case, along with your willingness to negotiate only in your favor will put the pressure on them.

This is the biggest thing you can do in your own favor, the more you dig your heels in when they start throwing stuff at you, the more likely you will be to get what you want. Add to that the fact that the evaluators know NOTHING about vehicles and thus will give you the lowest amount possible based on their perceived checks through stuff like KBB. You could have a diamond but they are going to try to prove to you that it is just a piece of ordinary glass.

They came back and said...hmm it was hard to find comps. Go figure. Glad they finally realized that this wasn’t a 20 year old civic.

 

[shtbrwn86]

This forum gave me the presence of mind to remember that if all else fails...just keep saying no.

thank you for the recommendation to talk to my insurance. They were more reasonable with their valuation and offered me the average NADA price, which I’m good with.

I’ve been wondering about this exact topic for a while now. I got a very good deal on mine by setting up a nationwide craigslist search and if my LX were totaled there’s no way I’m accepting anything less than replacement value. May need to look into a stated value policy.

 

[DBULL]

I’ve ran into more than one instance where an at fault insurer has refused to pay the repair estimate and offer to replace the car.This usually would drag on for a few weeks until contacted and being told that they were having a hard time finding a replacement.After telling them that I was going to have to rent a car while they looked I would usually receive a check in a matter of days….and keep the car….