Insurance company gonna screw me

I just got a call today from the insurance company of the guy I got into an accident with (he was cited ) and was left a message indicating that they would declare my car totaled . Its a 94 S10 V6 5 speed Extended Cab LS . The Kelley Blue Book value is around $3000 to $3200 . I haven't been told what they estimate the truck to be worth but I do know they will say its worth less even though I could definitely have sold it for that much before the accident . What are my options if they offer me far less than what I deserve for it ? . Can I demand that THEY replace my truck instead if they think I can find a a comparable one for the money they offer ? Really don't know what to do. And if it is totalled like they say do I get to retain the vehicle to sell for parts ? If so anyone interested ? I ll send pics . Sorry so many questions just not used to this happening .

Reply to
RS
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Many of us have gone through this, too. If you have a good insurance agent, let them do the work for you. They can get you a good number for your truck and do the haggling.

Reply to
John Alt

You have a right to hire your own appraiser:

Look in the phone book for Insurance appraisers, or do a yellow pages search for: Insurance adjusters or Insurance Appraisers.

Ask them the particular laws in your state with regard to third party appraisals, and they will appraise the damage, and also appraise the worth of the vehicle.

Every set of eyes sees a vehicle differently, and since you're paying the independant appraiser. They will see it in a light that means more green for you!

Refinish King

Reply to
Refinish King

Hi!

I think you can always choose to keep it just the way it is...you might check to be sure what your state and or local laws are like regarding this sort of thing. However, if you keep your truck, the insurance company may pay a lot less or pay you nothing at all.

As others have suggested, you could have your truck privately appraised and see if that brings the insurance company around. Another poster by the name of "Doc" here on the group had something similar to this happen. As I recall he had to go around and around with the insurance company so they would repair his truck. I'm surprised that Doc hasn't weighed in on this.

I'm not sure you can "demand" that they do anything.

You can usually keep your vehicle if the insurance declares it to be "totalled". However, it will probably carry some sort of notation like that on the title and you may get less insurance money. That's what happened when someone crashed their motorcycle into my dad's Taurus wagon....they "totalled" the vehicle, but we kept it and got a little less money back.

Well, you know what they say--nobody ever plans to have an accident...so it's understandable.

William The Guesser

Reply to
William R. Walsh

I was able to circle ads in the newspaper to get the insurance settlement up $1,000. I just told them to find a car like mine and buy it or pay the going price. They didn't argue at all.

Al

Reply to
Big Al

Most likely you looked at the retail value and most likely, the carrier will not offer retail. Read KBB's definition of "retail value" and you will see that this is the list price at a dealership, which includes costs such as advertising, commision, prepping, probable warrenties, etc. Your vehicle did not have these. This is why people usually pay less when buying from an individual then a dealer (those bright lights, insurance premiums, sales people, etc are not free and the dealership does not spend that money out of their pockets).

Take a look at the KBB Private Party value. Most likely this is the amount the carrier will offer. If they offer an amount, ask how they arrived at the amount (most use either CCC or ADP (independent companies). If they use one of these vendors _ask to see the report_! Almost always, the appraiser does not tell them of all the options on your vehicle (the appraisers look at about 10 vehicles each day). Ask them to consider any items they missed and any "upgrades" you have made to the vehicle.

Depends on the state. Some states _require_ the insurance company to consider the vehicle to be a total loss if the repair cost is close to the value of the vehicle. Many states require the insurance company to send in the title to the state and have it changed to some type of salvage title (this can also depend on what the value to repair cost percentage is). Ask the carrier what options you have. If they allow you to retain the vehicle, most will deduct the salvage value of the vehicle (it's value in it's current condition) and probably won't pay taxes on that value.

If you have any other questions, you can also send me an email.

Reply to
Todd Copeland

Just before last Christmas, my wifes Cadillac was totaled in an accident. It was the other driver at fault. Their insurance company paid the average of what similar vehicles were selling for on car lots in this area. The appraiser listed several from nearby cities. What we got was a little more than KBB average retail. I had been keeping track of the advertisements in the newspapers and on the internet, so I feel we got a fair deal.

One mistake I did make was I did not ask about keeping the wrecked car. They asked if I wanted to keep it and I said no without finding out what the difference in the settlement would be. Big mistake! I thought it would really reduce the amount of the settlement, but it was only a few hundred dollars as the car was over six years old. I could have sold the 5.7L TBI engine with computer for more than it would have cost me to keep it. I could have used the power bucket seats in one of my old trucks, along with the AM/FM/CD etc. But it was to late when I got the check and saw the brake down of the figures. Heck I could have sold the new Michelin tires for almost as much. (I did keep them and replace them with junk). Live and learn.

Reply to
Diamond Jim

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