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Replacement Cost by Insurance Company for Totaled Vehicle

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Comments

  • daytoncarcaredaytoncarcare Posts: 2
    edited July 2012
    ...and you don't have to go through the insurance agent or adjuster of the person that damaged your car. You should talk to your own agent to get the best numbers.
    These "adjusters" are not your friend. They work for the insurance company and they want to save them money, or they may be out of a job. For example; if your car is worth $20k, they'll probably offer you $15.5k. Which you may see as more than fair. Your happy and the rep is happy for saving money for their employers.
    Case in point (2000 BMW 528i): I recently had a friend that had someone run into his car, and they deemed it a total loss. The first rep offered about $9k, but then he went to his agent and got $800 more. Needless to say we found a replacement BMW a year newer (2001 530i), lower mileage, and very good condition. He's even happier with the colors vs his previous car. :)
  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,305
    $3500 is cheap for the company getting a Release & settlement that includes potential bodily injury. ;)
  • In January I signaled a left-hand turn at an intersection and was in the process of making the turn when a driver tried to pass me on the left. He admitted driving 57-58mph (over limit) and that he had seen my signal. He was cited for unsafe pass and has pleaded guilty and paid the fine. His insurer accepted 100% liability. Body shop repair estimate is $4659. My vehicle is a 2000 Chrysler Town & Country LX (long wheel base, E85 flex-fuel, wonderful condition) -- but with 229K miles on it. I had just gotten two new tires ($200+) had a complete tuneup/plugs/oc etc ($200+). We had purchased it with 39,959 miles on it and a prior salvage title and maintained it religiously, loved the vehicle, had every intention to continue driving it. Great, dependable vehicle. So of course his company is offering $1600 (deducting $847.23 for the "title history") -- based on a JD Powers Valuation report with "comparable" vehicles from 113 to 298 miles away from me. I have attempted to negotiate -- I showed them three other comparable flex-fuel T&Cs (years 2000-2003) within 100 miles of me, lower mileage but priced up to $6995 and proposed $3494 to his insurer. They refuse to budge from $1600. In my state (Iowa) the small claims limit is $5000. I am thinking of filing a small claims action against the other driver asking that he either repair or replace my vehicle. His insurer company will have a duty to defend him. I do not think that I will have trouble proving liability. Can I come out worse than the $1600? Any suggestions, ideas for negotiation -- anything? Thanks for any help--this has been very upsetting--driving along, minding my own business in a vehicle that I loved, and feel like I'm getting taken to the cleaners. Familiar story, I know.
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