My car was totalled when I got rear-ended. How do I get the best price for it from the insurance company?
Monday, July 27th, 2009 at
11:24 pm
Powered by Max Banner Ads
RikiJonz asked:
The accident was the other guy’s fault (in California). The insurance company chose to “total it” and pay me, rather than have it fixed. But the price they are quoting me is very low, lower than Kelley Blue Book and lower than asking prices in local classifieds. They say they use their own program, but I can’t replace what I had with the amount they are offering. What rights do I have and is there anything I can do to get that offer up?
Jack
The accident was the other guy’s fault (in California). The insurance company chose to “total it” and pay me, rather than have it fixed. But the price they are quoting me is very low, lower than Kelley Blue Book and lower than asking prices in local classifieds. They say they use their own program, but I can’t replace what I had with the amount they are offering. What rights do I have and is there anything I can do to get that offer up?
Jack
Tagged with: California Insurance • Insurance • Kelley Blue Book
Filed under: Insurance & Registration
Like this post? Subscribe to my RSS feed and get loads more!
Tiffany
I think there’s some sort of insurance commission you can go to but am not sure.
Kristen
Talk to a lawyer
Deborah
get a good lawyer
Heidi
CHECK FOR THE VALUE OF THE CAR ON THE INTERNET AT KELLYBLUEBOOK.COM AND TALK TO THE INSURANCE CO.
Miguel
Sounds like you may need to get a lawyer involved but be careful because you might have even less money after paying his fees.
Minnie
I worked in insurance for 11 years. If I were you, I would call YOUR agent and tell him/her what is going on and see what he/she suggests! Our car was totalled once and we got way more than value because they could see we took really good care of it, it was clean, and body was well-maintained, rust free and freshly painted. If your car is dirty, carpets full of crud, empty soda cans laying around and stuff, they will not value your car highly. You can try arguing, refuse to sign the paper, take the ads you found and the kelly blue book price and add them up, divide by how many prices and get an average and refuse to settle for less. Good Luck. (but call your agent!)
Vincent
Do you have maintenance records, pictures of the condition of the vehicle, documentation of upgrades (leather seats, air conditioning, stereo system, engine, paint, etc). What was the mileage? Is the vehicle in demand or popular with the public? Is there anything special or unique about your vehicle that makes it stand out from other similar vehicles. These are some of the arguments you can use to negotiate a better price. The insurance company does have the right to use their own shops to evaluate the damage so your documentation is important to have a chance to increase the value of your vehicle. Remember if you were injured in this accident you have the right to take action against the person at fault. Make an appointment with the adjuster handling the claim to discuss your settlement.
Megan
make sure you tell them anything you have done latley on the car, such as tires or paint, also ask for the money to rereg the new car you are buying
Doris
Kelly Blue Book is not a resource that insurers use to determine total loss value – they use private resources such as a firm called CCC to determine the actual market value of your car in the area you reside (based on actual sales records on file with the DMV and other resources), and then they add sales tax and unused title and license fees as the basis for the total loss settlement.
However, under CA law, if you cannot find a replacement vehicle within 60 days, you have a right to notify the insurance company, and provide them with the prices and locations of comparable cars that you have found. They then have to either purchase that vehicle for you, or provide you with the difference from what was paid and what it will cost to buy a replacement vehicle. If you have any other questions about the loss you may contact the Consumer Affairs Department of the CA Department of Insurance at 800-927-HELP (4357).
Darren
You can refuse the check. Insurance is about bringing you to your original state before the accident. They need to satisfy you within means…