Insurance appraisal

[fblainen11]

I'm not at fault, I'm processing through other parties insurance. Why should their policy selection of RC vs ACV affect my valuation?

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.

 

[Poncherelli]

I'm not at fault, I'm processing through other parties insurance. Why should their policy selection of RC vs ACV affect my valuation?

Also -- my issue isn't with the valuation. They are basing the value (by RI state regulation) off NADA Clean Retail.

There are a few quirks though. 1st -- RI doesn't require mileage to be calculated after 20 years. My vehicle has 185k miles.

Next -- NADA Range is 7100 (fair) 14k (average) 21k (excellent)

The appraiser is valuing the car at exactly 7100.

My issue is that I have done $8k worth of maintenance since buying the car 2 years ago. The paint was just corrected in November. I'll post a pic. Every single feature in the car works. Sunroof, heated seats, etc. I changed the front seats with LSeat's leather, had weather tech floor mats, changed the front glass to OEM. Installed new lights everywhere. non-smoker. New falken tires. Just had safety inspection pass in January -- so I know frame is good and everything works as it should.

Engine, differentials, exhaust, brakes -- all totally services, needs nothing. New parts.



The appraiser has said "the seats are horribly ripped" -- ill send a pic
The rust is "Structural" and bad -- ill send a pic
The paint is horrible -- ill post a pic
and the rugs are trashed.

that's reason for the LOWEST valuation they can give.

I'm arguing its at MINIMUM 1/2 way between fair and average which is around $10-11k.

They don't want to respond or budge.


Finally, I got a manager to call me tomorrow. I'm not sure what to say when they call me.

 

[Poncherelli]

Also -- my issue isn't with the valuation. They are basing the value (by RI state regulation) off NADA Clean Retail.

There are a few quirks though. 1st -- RI doesn't require mileage to be calculated after 20 years. My vehicle has 185k miles.

Next -- NADA Range is 7100 (fair) 14k (average) 21k (excellent)

The appraiser is valuing the car at exactly 7100.

My issue is that I have done $8k worth of maintenance since buying the car 2 years ago. The paint was just corrected in November. I'll post a pic. Every single feature in the car works. Sunroof, heated seats, etc. I changed the front seats with LSeat's leather, had weather tech floor mats, changed the front glass to OEM. Installed new lights everywhere. non-smoker. New falken tires. Just had safety inspection pass in January -- so I know frame is good and everything works as it should.

Engine, differentials, exhaust, brakes -- all totally services, needs nothing. New parts.



The appraiser has said "the seats are horribly ripped" -- ill send a pic
The rust is "Structural" and bad -- ill send a pic
The paint is horrible -- ill post a pic
and the rugs are trashed.

that's reason for the LOWEST valuation they can give.

I'm arguing its at MINIMUM 1/2 way between fair and average which is around $10-11k.

They don't want to respond or budge.


Finally, I got a manager to call me tomorrow. I'm not sure what to say when they call me.

Also -- they say comps don't affect value because it's rated off NADA?? I can't understand how to get their appraiser to raise his assessment. It feels like he doesn't know land cruisers.

I know I have seen ones for sale here and else where the seats are totally trashed -- exposing the foam. The paint and fenders are dinged, etc. The features don't work. And that's what I would assume is a low end valuation.

He's taking my cars as .... oh, it's a 21 year old truck that looks less than showroom so it must be trash.

 

[Poncherelli]

If the salvage value is close to or higher than the settlement amount (meaning it’s popular among rebuilders/salvage yards), the whole scenario will require further research. Possibly resulting in a higher value. You may want to look into your own insurance co though, they could waive your deductible, and then surrogate the other for the damages. Could always affect your premium, but would be documented as a not-at-fault loss.

They said they will give me $4k and I get the car back.

 

[Poncherelli]

They said they will give me $4k and I get the car back.I should honestly do that and sell it here. People could take all my new maintenance parts, engine, etc and I'd make prob $5k more. I just don't have the means to part it out.

 

[Poncherelli]

They said they will give me $4k and I get the car back.

Also -- my issue isn't with the valuation. They are basing the value (by RI state regulation) off NADA Clean Retail.

There are a few quirks though. 1st -- RI doesn't require mileage to be calculated after 20 years. My vehicle has 185k miles.

Next -- NADA Range is 7100 (fair) 14k (average) 21k (excellent)

The appraiser is valuing the car at exactly 7100.

My issue is that I have done $8k worth of maintenance since buying the car 2 years ago. The paint was just corrected in November. I'll post a pic. Every single feature in the car works. Sunroof, heated seats, etc. I changed the front seats with LSeat's leather, had weather tech floor mats, changed the front glass to OEM. Installed new lights everywhere. non-smoker. New falken tires. Just had safety inspection pass in January -- so I know frame is good and everything works as it should.

Engine, differentials, exhaust, brakes -- all totally services, needs nothing. New parts.



The appraiser has said "the seats are horribly ripped" -- ill send a pic
The rust is "Structural" and bad -- ill send a pic
The paint is horrible -- ill post a pic
and the rugs are trashed.

that's reason for the LOWEST valuation they can give.

I'm arguing its at MINIMUM 1/2 way between fair and average which is around $10-11k.

They don't want to respond or budge.


Finally, I got a manager to call me tomorrow. I'm not sure what to say when they call me.

 

[jLB]

Also -- my issue isn't with the valuation. They are basing the value (by RI state regulation) off NADA Clean Retail.

There are a few quirks though. 1st -- RI doesn't require mileage to be calculated after 20 years. My vehicle has 185k miles.

Next -- NADA Range is 7100 (fair) 14k (average) 21k (excellent)

The appraiser is valuing the car at exactly 7100.

My issue is that I have done $8k worth of maintenance since buying the car 2 years ago. The paint was just corrected in November. I'll post a pic. Every single feature in the car works. Sunroof, heated seats, etc. I changed the front seats with LSeat's leather, had weather tech floor mats, changed the front glass to OEM. Installed new lights everywhere. non-smoker. New falken tires. Just had safety inspection pass in January -- so I know frame is good and everything works as it should.

Engine, differentials, exhaust, brakes -- all totally services, needs nothing. New parts.



The appraiser has said "the seats are horribly ripped" -- ill send a pic
The rust is "Structural" and bad -- ill send a pic
The paint is horrible -- ill post a pic
and the rugs are trashed.

that's reason for the LOWEST valuation they can give.

I'm arguing its at MINIMUM 1/2 way between fair and average which is around $10-11k.

They don't want to respond or budge.


Finally, I got a manager to call me tomorrow. I'm not sure what to say when they call me.

1) But, you're choosing to deal with "the other guy's" insurance company, which is an adversarial relationship.
Why not deal with your insurance company, and let them take the adversarial role, which is their expertise?

2) If you truly have structural rust (and being in Massachusetts, that may be likely) , there's no way that it's worth $21k.

 

[Poncherelli]

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

 

[fblainen11]

It is all subjective. Comps will show the differences in conditions that a $10k LC will be in vs $7500

 

[Poncherelli]

Here are couple more

 

[Poncherelli]

It is all subjective. Comps will show the differences in conditions that a $10k LC will be in vs $7500

There are only 4 land cruisers 1997-2000 for sale within 400 miles of me. They price at $4000 (as-is/parts condition) to $14,300.

Mine doesn't look much different than the 12,900 or 14,300 ones. How do I explain that to the adjuster?

 

[fblainen11]

There are only 4 land cruisers 1997-2000 for sale within 400 miles of me. They price at $4000 (as-is/parts condition) to $14,300.

Mine doesn't look much different than the 12,900 or 14,300 ones. How do I explain that to the adjuster?

Tell him that if NADA is the only thing that he can go by then your vehicle is considered good condition based upon the fact that your vehicle is in similar condition to those vehicles and they are listed that at those prices.


You just reverse the logic. It can flow both ways.

 

[Poncherelli]

There are only 4 land cruisers 1997-2000 for sale within 400 miles of me. They price at $4000 (as-is/parts condition) to $14,300.

Mine doesn't look much different than the 12,900 or 14,300 ones. How do I explain that to the adjuster?

I should say -- the prices of the 4 are:

$4000 - parts only (trashed, check engine for emissions is on multiple panels rusted, tail gate leaking)
$12,340
$12,990
$14,500

 

[FJC]

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.

 

[LXKevin]

OP. Where are the pictures of the damage?

 

[Exiled]

As I was cross-shopping insurance policies due to a recent out-of-state relocation, some of the online quote systems wanted you to chose "aftermarket (parts) comprehensive coverage" as an option, or something along those lines.

Just a new game they want to play and something of which we should all be aware.

This is also becoming more common with all of the dealer-modified vehicles sold; dealers *love* to sell Wranglers with aftermarket suspension kits and all sort of armor/bumper/goodies because they get top dollar for the add-ons and customers love it because they can finance the modifications when they buy the vehicle instead of shelling out cash after the purchase. That's why it's so common to see all those decked out brand new Jeeps out there (also starting to get popular with 4Runners, Raptors, etc..). Insurance has had to evolve to cover, it's easy for a $40K jeep to become a $60K or more Jeep when all the goodies are added.

 

[MJK]

The insurance company wants to pay out as little as possible and is trying to screw you over. They've already accepted that the other person is at fault, which means they are responsible for making you whole. It doesn't matter what KBB or NADA says if their offer doesn't make you whole.

Every time I heard $7k, I would counter with something about triple that. You can support the $13-$14k to replace what you had, and that is before you put another $8k into it to make it mechanically refreshed like your existing one was. Some paint issues will be present in any of them and that is the reason you are not asking Bring A Trailer money. You are not unreasonable, you just want the $21-22k you need to stay whole.

If they start talking about repair, then IMO they are on the hook for genuine parts and a diminished value claim. And your expenses for interim transportation.

Unfortunately, you need to play the game or you're going to get screwed. Drag it out as long as you can. Don't let them take possession of the truck for any reason. Bring in your insurance company as an advocate as needed.

In my estimation, the other person's insurance company has already sized you up as someone they think they can screw over. You need to change that perception.

 

[mlaginess]

couple of questions

What ins company are you dealing with?
Have you involved your ins company to help?

All in all, I will say that the rust on the rockers and that bumper faded is what killed you. Other guy's ins is gonna make the press for the lowest possible amount.

If I knew what company you were dealing with, there's a good chance I could see what drove the decision. I work for a company that handles the valuations for 90% of the country and supplies the ins companies with their conditioning matrix. If you feel more comfortable, DM me and I'll see what I can do to help.

 

[suprarx7nut]

Do not accept anything that makes you feel less than whole. Wait. Them. Out. Continue to refuse and hold your line.

Involve your insurance if necessary. As stated, the other people's insurance is your enemy here. Do not expect them to be rational and reasonable. If they can go up to , say, $12k they will tell you all day that $7k is their absolute maximum and there's nothing you can do to change that. They are lying. Intentionally.

 

[MJK]

I would expect them to attempt to try and dazzle you with official sounding bull****. "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.