Tell them you want the vehicle fixed, and you will get someone to do it if necessary. They will probably offer to total it and sell it back to you. Show them the comps, and all the additions/mod/upgrades you've made. Show them what $ it'll take for you to buy a comparable used vehicle.
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Here's my post detailing my wreck about a year ago and the struggle with the insurance co.
fj60 wrecked today on the interstate
I suggest:
1. get a rental to replace the wrecked vehicle if it was covered under your insurance. This gets the clock ticking for them, and gives them a reason to settle.
2. Ask to speak with a manager if your not making headway with the agent.
3. Ask for a written copy of their appraisal of your vehicle. Make sure it has details like pictures and condition of comps (comparable vehicles).
4. If you don't agree with their appraisal because you feel it is not fair market value then tell them. Ask for another appraisal from an independent appraisal company that has experience with classic cars.
5. Don't go running to a lawyer. not enough $$ for them to get involved.
fj60 wrecked today on the interstate
I suggest:
1. get a rental to replace the wrecked vehicle if it was covered under your insurance. This gets the clock ticking for them, and gives them a reason to settle.
2. Ask to speak with a manager if your not making headway with the agent.
3. Ask for a written copy of their appraisal of your vehicle. Make sure it has details like pictures and condition of comps (comparable vehicles).
4. If you don't agree with their appraisal because you feel it is not fair market value then tell them. Ask for another appraisal from an independent appraisal company that has experience with classic cars.
5. Don't go running to a lawyer. not enough $$ for them to get involved.
just tell them. How much are they willing to give you for it as a total loss? Tell them for $500 less, you will keep the car. Tell them you'll need the salvage title paperwork completed by them.
- Thread starter
- #25
Thanks for the input.
The insurance company talks about getting the customer back to where they were preaccident. No better, no worse. And right now the same truck option is next to nothing in my area and more money than I paid if I travel for one or ship one.
Would like to get the same truck and I don't think the price should be a matter, considering their statement and the possible rise in prices.
The insurance company talks about getting the customer back to where they were preaccident. No better, no worse. And right now the same truck option is next to nothing in my area and more money than I paid if I travel for one or ship one.
Would like to get the same truck and I don't think the price should be a matter, considering their statement and the possible rise in prices.
- Thread starter
- #26
Heard the old car salvage rate is $50-$150.
- Thread starter
- #27
was in a rental for a week, but caught wind they may use the price of the rental against the overall payout. so i returned asap...
This sounds unfair to me but you have to read the fine print in your policy. I would think the insurance premiums you paid should cover the cost the claim..including .. the rental.
- Thread starter
- #29
Yeah it was not confirmed, but didn't want to take the chance.
Was told today I can take the truck home, while we come to an agreed payout.
Get that in writing stating that it will not adversely affect the outcome of the estimate or replacement. They are not wanting to pay the fees for it being at a yard so they are trying to minimize. If they don't agree then it stays at the yard until you come to an agreement.
- Thread starter
- #31
right? tricky.
was an email sent, which i think is great way to communicate. because its all on 'paper'
the tow to our place would be our bill
but how much would it effect the payout already having the truck home...
Forward the emails to another 'address' for safe keeping.
Get good photos of rig in wreckyard? Tell them you are documenting it for insurance purposes.
Then show us the pics here, more better to advise going forward.
Let the ins co. sweat paying the wreckyard until resolved.
hth
Get good photos of rig in wreckyard? Tell them you are documenting it for insurance purposes.
Then show us the pics here, more better to advise going forward.
Let the ins co. sweat paying the wreckyard until resolved.
hth
Again, the insurance company is trying to pay out the least amount possible. At this point that is nickel and dime-ing you were they can. I would tell them absolutely not until you reach a satisfactory agreement on payout for the vehicle. Because if something happens in TRANSIT or at your house (or they SAY that it happened then), then you are liable because you have signed off for the move.
- Thread starter
- #34
they gave me a fair price to take the vehicle home. as they said that they need to dispose of it asap. an said it would not affect the payout price at all, even though it was 10% of what they offered.
- Thread starter
- #35
insurance offered a bit more but still not satisfied.
...and now it goes to arbitration. and the arbitrator will decide the price. anyone experience this before?
...and now it goes to arbitration. and the arbitrator will decide the price. anyone experience this before?
Take your documentation that you provided the insurance company. Print out more current stuff with comparable rigs and do your best to stick to your guns. This is basically haggling the sales value of a car and one side will come out the better. Hopefully that is you. GL with the arbitration.
- Thread starter
- #37
thanks
should be interesting. apparently there is a charge for me just to pay the arbitrator
- Thread starter
- #38
soo, ive been avoiding arbitration, just as much as the insurance co has been avoiding answering my questions.
they have come to a figure of $5890.35(cdn) for tent and truck, minus deductable($300) and salvage rate ($550).
have asked how they came up with this figure to the cent, with no true answer, just what they consider. but they've told me they have not done a complete inspection.
they have yet to show me any comparables.
ive sent them around 60 pages of info.
also telling me now that i have two days to remove my vehicle from the salvage yard or i will begin to pay the daily fee. is that even fair?
they have come to a figure of $5890.35(cdn) for tent and truck, minus deductable($300) and salvage rate ($550).
have asked how they came up with this figure to the cent, with no true answer, just what they consider. but they've told me they have not done a complete inspection.
they have yet to show me any comparables.
ive sent them around 60 pages of info.
also telling me now that i have two days to remove my vehicle from the salvage yard or i will begin to pay the daily fee. is that even fair?
Bummer dude... that really depends on your contract with the insurance company. How long has it been sitting in the salvage yard now? I would ask them to point out in YOUR contract with them under your policy exactly where it specifies a set amount of time they are responsible for paying for the salvage yard storage fee while things are handled. Again, sounds like they are trying to nickel and dime you.
I would seriously suggest that you go with a different insurance company after this.. Sit down with the agent/owner of your particular office after everything is said and done and spell it out for them very clearly that it was obvious they had not problem taking your money every month but when it came to actual legitimate compensation, which you provided ample proof and documentation for them, they had no intention of properly compensating you for your trucks worth.
also telling me now that i have two days to remove my vehicle from the salvage yard or i will begin to pay the daily fee. is that even fair?
You might want to get it out of the salvage yard just so it's under your control and can't accidentally be 'disposed of' by accident during all these proceedings. If it's in your driveway, at least you can keep a close eye on it (assuming you want it back).
You might want to get it out of the salvage yard just so it's under your control and can't accidentally be 'disposed of' by accident during all these proceedings. If it's in your driveway, at least you can keep a close eye on it (assuming you want it back).