Any car insurance gurus here? A tree fell on my car last night and I'm guessing it may be totaled. How does my insurance company determine actual cash value? Should I hold out for Kelly Blue book retail value?
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Car Insurance Claim
- Thread starter CPA9mm
- Start date
I had a hit and run that totaled my truck. Very long story short. They tried to offer me squat. I held out and ended up dealing with a regional director.
This guy worked out a deal with me far better than anything else I could have done.
He explained that the law in Georgia is that they cannot make you better off or worse off than you were before the accident/incident. So my truck was a 1990
diesel with an automatic transmission. The insurance company had to find comparable vehicles with essentially the same/same stuff for comparable pricing within 150 miles of your location.
The local insurance rats had priced comparable vehicles from South Dakota and Illinois, in violation of state laws.
The next big issue is if you have had any major work done to the vehicle. New tires, motor or transmission. If you did it over a year ago, did it yourself, or don’t have a receipt, you are out of luck.
For the most part unless you have something extra special/unique about your car. They are going to find comparable vehicles for sale and average out the price and offer the median value based upon miles and options.
Sorry about your car.
This guy worked out a deal with me far better than anything else I could have done.
He explained that the law in Georgia is that they cannot make you better off or worse off than you were before the accident/incident. So my truck was a 1990
diesel with an automatic transmission. The insurance company had to find comparable vehicles with essentially the same/same stuff for comparable pricing within 150 miles of your location.
The local insurance rats had priced comparable vehicles from South Dakota and Illinois, in violation of state laws.
The next big issue is if you have had any major work done to the vehicle. New tires, motor or transmission. If you did it over a year ago, did it yourself, or don’t have a receipt, you are out of luck.
For the most part unless you have something extra special/unique about your car. They are going to find comparable vehicles for sale and average out the price and offer the median value based upon miles and options.
Sorry about your car.
This young girl totalled my Blazer. So I'm dealing with her insurance company.
Had a brand new Diehard, nice aftermarket wheels with high dollar tires, and an aftermarket trailer hitch. So i suggested all of that should get some some "consideration".
Adjuster sent me a nice letter, saying none of that added any value to the vehicle.
Well, I'm a go along get along kind of guy and come Saturday me and my dad head for the recovery yard. The operator gives us some flak about how he has to get some permission from the insurance company, i show him my title, and ask him does he want to explain to the police why he is denying me access to my vehicle.
So me and dad pull the battery, put on the original tires with some $5 junkyard tires, and take off the trailer hitch.
Bright and early Monday morning, I get this irate call from the adjuster about how I was committing insurance fraud, he was going to have me arrested, I was going to jail, blah, blah, blah.
I pointed out to him that
(a) it was still my vehicle and I could do anything I wanted with any part of it (the vehicle was paid for).
(b) he hadn't paid me anything so there was no insurance fraud, and best of all,
(c) I had this letter o this really nice stationary with his signature, saying all that stuff had NO value. Thank you very much.
What i knew from dealing with adjusters for years is that all those aftermarket accessories don't show up on the vehicle paperwork. The recovery company skims them off, and kicks money back to the adjuster. That's the primary reason they are so hard nosed about paying out anything for aftermarket stuff.
Had a brand new Diehard, nice aftermarket wheels with high dollar tires, and an aftermarket trailer hitch. So i suggested all of that should get some some "consideration".
Adjuster sent me a nice letter, saying none of that added any value to the vehicle.
Well, I'm a go along get along kind of guy and come Saturday me and my dad head for the recovery yard. The operator gives us some flak about how he has to get some permission from the insurance company, i show him my title, and ask him does he want to explain to the police why he is denying me access to my vehicle.
So me and dad pull the battery, put on the original tires with some $5 junkyard tires, and take off the trailer hitch.
Bright and early Monday morning, I get this irate call from the adjuster about how I was committing insurance fraud, he was going to have me arrested, I was going to jail, blah, blah, blah.
I pointed out to him that
(a) it was still my vehicle and I could do anything I wanted with any part of it (the vehicle was paid for).
(b) he hadn't paid me anything so there was no insurance fraud, and best of all,
(c) I had this letter o this really nice stationary with his signature, saying all that stuff had NO value. Thank you very much.
What i knew from dealing with adjusters for years is that all those aftermarket accessories don't show up on the vehicle paperwork. The recovery company skims them off, and kicks money back to the adjuster. That's the primary reason they are so hard nosed about paying out anything for aftermarket stuff.
Hahaha! I LOVE IT!
Sounds like you threw a monkey wrench into their little money making scam!
Find 2 comparable vehicles for sale and print those out. And get reimbursed for the sales tax too. Good luck.
Tree killed my Silverado in that snowstorm in December.
Tree killed my Silverado in that snowstorm in December.
Have had a few experiences like above, just called attorney and let him handle it, the adjusters accused me of not handling this problem myself.
The attorney got me a great deal...
The attorney got me a great deal...
They have always paid me more than the vehicle was worth.
I totaled out a 89 2wd S10 that was 5 years old, with 130k miles. I paid $7373.00 new off the lot, they paid me $5800.00
I totaled out a 89 2wd S10 that was 5 years old, with 130k miles. I paid $7373.00 new off the lot, they paid me $5800.00
