Help, how do you deal with insurance companies..?

Wife got in an accident and rolled the tahoe monday morning, a complete roll and a quarter so it's totaled..

The insurance company is coming in $1200 low of fair market value, nada puts the vehicle at $7900 to 8900 in value, current market has many similar vehicles in miles and accesories in the 10k range...

Insurance wants to pay $6700 for it and I want to get them up to 8k.

Does a person just have to take what they offer or what..? I'm 37 yrs old and have paid insurance my whole life and never made a claim so i have no clue how this works..

Body shop wants $7k to fix it, can one force them to fix it..?

Man, does that blow. My son just wrecked an old car we were letting him drive. Just liability on that so we're out the money and car. Good thing his girlfriend has a car.

How much is your deductible? That comes off the top of what they're gonna pay. In my experience, yes, you can haggle with them. They're holding all the cards so it helps to be gentle and nice when trying to negotiate any more money. And it has to be for reasons more than you simply want more money. But it is a long-shot.

Usually you can 'buy back' a vehicle from the insurance company and pay to get it fixed from the proceeds they pay you. But unless you've got a buddy that'll fix it for far less than $7k in this case I'd say the vehicle is totaled. You'd definitely have a salvage title on this 'hoe which reduces it's retail value by ~20% from the get-go.

Despite having insurance having a wreck is always a money loser. I know, I know, people say they get insurance money and then fix their cars for less but with increased premiums and loss of discounts you're still at a loss, IMO.

Drive a junker and rent a nice car for trips. That's a better deal (but not as much fun nor very "American"!).

No, definitely negotiate. Not sure how much they'll move, but we had a guy here at work do the same thing and got more than originally offered.

I'll be honest, with it being an "at fault" accident - I'm not sure how much room you'll have with your company, but the worst thing they can say is "no".

Good luck . . .

I believe I've heard that insurance companies typically offer 80% of 'real' value.

It's the insurance companies obligation to 'make you whole'. If they feel the vehicle was worth $6700, then they need to be able to show you an equivalent used vehicle that can be purchased for that $6700.

Do some homework. Check dealers in the area for similar vehicles; find something (or a couple) that YOU feel are equivalent, and present the insurance company with documentation as to pricing. .

I've found tons of vehicles at dealers in iowa, same make model accessories and similar mileage and they're all in the 10K range..

I've been doing the research that's how i know or at least feel that they're under fair market value...i've just got to get the **** adjuster to return my calls now..

Flush: Yes
Repair: No

We got caught in the big '95 hailstorm disaster here in Ft Worth with our Suburban. The only reason we did not total the car out was that we had just gotten the thing out of the shop the day before with several thou in repairs.

After all the hail damage was 'repaired' the car was never the same. Doors and stuff never did seal up again correctly. We had broken glass dropping out of the dash every time we hit a bump. The electric windows and door locks were noticeably worse.

My advice, based on '20-20 hindsight,' is to take the money and run. Far away.


PS---I hope your wife is OK after that. The crash looked kinda bad.

My car was stolen last year, and the insurance company only paid about 80% of the Blue Book value. They said it was based upon comparable vehicles from my same area sold within the previous 6 months. I checked around and found quite a few that were advertised for the BB value and showed that to the insurance company. They told me that the BB value is a "starting point" for negotiations, and that they went by actual sale prices (which I'm guessing also included "incentives" from dealers that kept the dollar value low, but increased the total value of the sale). They also told me that their estimates were final and non-negotiable.

In other words, "take the money and get out of here."

Good luck with your negotiations, but don't hold yer breath.

WW

I've been lucky with both cars my wife and I have totalled. We did a bunch of research (KBB, Edmunds, similar cars in the area), and my insurance company gave me the higher number plus tax.

Good luck, and I hope your wife is okay!

What does your policy read? You will probably find the words replacement cost.

We've destroyed two, one by a woman running a red light and another by a woman running a stop sign, and for both the replacement value was done by taking the median of a high and low selling price in my area on the private market. Look around the newpaper, but those who want to just unload their gas guzzler will be the low end on your model, which hurts your replacement cost. Blue book is not considered replacement cost.

Find yourself a lower vehicle (axles below rocker panels) --the worst accident I've ever seen in my life was one of those Tahoes on a clear day on the Washington beltway. The truck flipped much like yours, ended up on it's side, and got drilled in the roof by a pickup truck doing over 60 mph. I doubt there were any survivors, I was going the other direction and preferred not to look. My parents had one for about 6 months, got smart and got rid of it, my father said he was too young to die in that thing, he's 70. ;-)

Chuck

We don't own a tahoe cause it's cool, it's a necessity for some of the stuff we do so we'll get another just like it...

I've got em dumbfounded now a little bit told em to fix it and they said ok they'll check to see what the estimate is..

The estimate i already know is $7500 plus now due to some other things they've found..

I'm assuming they'll call back not wanting to repair it for that and i'll then see if i can get the 7500, if i can we'll call it good... after my deductible of 500 i'll be close enough for me...

Thanks for the info thus far......

Originally posted by firemanup
We don't own a tahoe cause it's cool, it's a necessity for some of the stuff we do so we'll get another just like it...

I've got em dumbfounded now a little bit told em to fix it and they said ok they'll check to see what the estimate is..

The estimate i already know is $7500 plus now due to some other things they've found..

I'm assuming they'll call back not wanting to repair it for that and i'll then see if i can get the 7500, if i can we'll call it good... after my deductible of 500 i'll be close enough for me...

Thanks for the info thus far......

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Best of luck.....but because the repair cost is over replacement cost you may either get stuck with a tough one to repair or back at square one.......they don't like to lose. In fact, they hate to lose. It's their way.

My father didnt' buy it because it was cool either, he bought it to pull a show car trailer. But the family was deemed to be more important so it was replaced. However getting plywood in it was a nice feature as it was very wide and it did have the grunt to pull the trailer.

Chuck

nada puts the vehicle at $7900 to 8900 in value, current market has many similar vehicles in miles and accesories in the 10k range...

"because the repair cost is over replacement cost you may either get stuck with a tough one to repair or back at square one"

How do you figure? The one vehicle i've found that is identical to this one in every way except color of the leather is at a dealership that is holding to their price of 10,500.

"family was deemed to be more important so it was replaced"

She walked away without a single bruise, that was terrible dangerous, show me another vehicle with the same dimensions in the back, width and HEIGHT, that will hold dog kennels 2 wide that are tall enough to fit 2 100 pound dogs and i'll consider it.

Thanks for the accident info, 4 yrs as a st trooper in az, 2 yrs as a paramedic on the beltway around washington dc, and now 9 yrs as a firefighter i've not seen many accidents myself thanks for the enlightenment.

Originally posted by firemanup
nada puts the vehicle at $7900 to 8900 in value, current market has many similar vehicles in miles and accesories in the 10k range...

"because the repair cost is over replacement cost you may either get stuck with a tough one to repair or back at square one"

How do you figure? The one vehicle i've found that is identical to this one in every way except color of the leather is at a dealership that is holding to their price of 10,500.

"family was deemed to be more important so it was replaced"

She walked away without a single bruise, that was terrible dangerous, show me another vehicle with the same dimensions in the back, width and HEIGHT, that will hold dog kennels 2 wide that are tall enough to fit 2 100 pound dogs and i'll consider it.

Thanks for the accident info, 4 yrs as a st trooper in az, 2 yrs as a paramedic on the beltway around washington dc, and now 9 yrs as a firefighter i've not seen many accidents myself thanks for the enlightenment.

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Dealer prices mean nothing to insurance companies. The dealer has to get out of it what they invested in it on the trade. Insurance companies will not look at that number as they don't consider it realistic unless you can prove to them it was bought at that price. Remember, they are very slick and know the language of your policy very well. No argument here, I'd love to see you get $10K, but they won't allow it.

Well, isn't it the prevention of the accident rather than living through it?

It all depends on the size of your kennels, and how many people tag along......but Cg is a visual thing.

Not a problem, did some of the stuff you did, yep it was ugly, we were the saturday night crew for 4 years, and I will leave it at that.

Good luck. Nail the b@*&)s!

Chuck

I know they don't care about the dealer price of 10,500, which is why i'm only trying to get them to match 7500....

We purchased ours at a dealer.. not that it makes much difference to them.

The accident should have never happened that's why the mrs is in the dog house...

That vehicle holds 2 large dog kennels with 2 large dogs, all the show supplies as well as 5 people and their weekend supplies..

The only other thing that can do the same that we've found is a conversion van with half of it stripped out, just don't like the big vans and they're no less likely than the tahoe to roll over.. and less infront of you for a head on......

I'm in the UK and so know less about insurance in the US than you, but when I had a similar problem (not a totalled car, but a stolen car) all I had to do was provide evidence that the replacement cost (for the same model similar age/mileage/condition) was what I said it was. I did that by digging up car ads from newspapers, magazines and even printouts of web pages. They caved and gave me what I was asking.

My brother purchased this book after his accident this past Fall -

https://www.amazon.com/dp/1411622138/?tag=skimlinks_replacement-20

He was simply amazed at what the insurance company will not say or acknowledge and how much money you are entitled to as a result of the accident. Check out the reviews. You have rights. You can negotiate.

ISBN: 978-1-4116-2213-5

Originally posted by firemanup

The accident should have never happened that's why the mrs is in the dog house...

That vehicle holds 2 large dog kennels with 2 large dogs, all the show supplies as well as 5 people and their weekend supplies..

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So now you need a vehicle that holds three large kennels and has room for four people. That may change the parameters enough that another 'hoe might not cut it!

I have had to go through this with my insurance company an several occasions.

In all but one instance, I had to contact the State Insurance Commissioner and determine my rights.

It was amazing, once the Insurance Commissioners office gathered information from the insurance company, they came very close to what I had requested for a settlement. This happened in each case.

Don't be afraid to negotiate with them. Just gather together all of the evidence of market value that you can and argue away.

BTW, my insurance company claimed to use the NADA book, yet when I visited with my banker he came up with a higher value (with his NADA book).

I then went online to the NADA website and that gave a higher number than the banker had.

I do not know what the laws are in your state so you will have to investigate your rights.

FWIW.



Thank God that your wife was unharmed. Material things can be replaced. One of the accidents mentioned above was a multiple roll-over that nearly took my daughters life. She was wearing her seatbelt and that saved her. All she has is a nasty scar on her right shoulder from the "road rash".

Originally posted by Chuck Rudy
What does your policy read? You will probably find the words replacement cost. ....
Chuck

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I agree with Chuck, and check yur policy. In many states the insurance company is required to pay replacement value, not wholesale value for the vehicle.

I would go to the KBB, Edmunds, and NADA websites and get the real numbers for the retail price of your vehicle. I would also go to several local automobile listing websites and get some examples of what the retail asking price is for a replacement vehicle in similar condition and with similar milage.

The retail price less your deductable, is what the insurance company should pay if your wife is deemed at fault. If some one else is at fault, you should get the full amount. (Since the vehicle has rolled, I think you will find more than $7K of damages when all it said and done.) Armed with the above collected information it is quite likely that the insurance company will agree and settle in your favor. If they still give you a hard time, insist that they find an equialent vehicle for you. That usually will clinch it for you.

A co-worker's car was totalled by a car that ran a red light (the first accident he was involved in in 38 years!). It was a '93 BMW 525 wagon with 160 K miles. He got $4800 for it which is the fair retail market value for the car.

Go in with the facts and don't settle for anything less.

Bob

KBB puts it at an outrageously high 10,200, nada puts it between 7900 and 8900, you can't find one that was as clean as this one was so i think it's closer to the 8900 value..

Like i said the only replacement i can find i think i'll be lucky to get it down from 10,500 to 9,000 and it's an exact match to what we had....

Thanks all for the help, playing the stalling game now..

We had 2 vehicles because we needed 2 vehicles now since he's taking his sweet time getting back to us we're going to be renting a vehicle for a week it looks like..

and yes our policy is replacement......

Originally posted by firemanup
KBB puts it at an outrageously high 10,200, nada puts it between 7900 and 8900, you can't find one that was as clean as this one was so i think it's closer to the 8900 value..

Like i said the only replacement i can find i think i'll be lucky to get it down from 10,500 to 9,000 and it's an exact match to what we had....

Thanks all for the help, playing the stalling game now..

We had 2 vehicles because we needed 2 vehicles now since he's taking his sweet time getting back to us we're going to be renting a vehicle for a week it looks like..

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Check your policy and your state laws (insurance commission).

In most states the insurance has a certain number of days to settle.

You may have 'loss of use' coverage on your policy that may cover the cost of a rental. Check that out too.

I agree with BAR_Daddy. Just keep calm and collected and show them your evidence. In the end they want to keep you as a customer. They will come up to your request if it is reasonable and supportable.

This is what I did when my wife was hit and her Ford Explorer flipped three times end over end. After the accident you could only really make out one wheel the rest was a ball of steel. The person that hit her was uninsured and my company had to pay the whole thing. In that case after two rounds of negotiation they paid me $1500 more than I expected (Blue Book was $17.4K and they paid me $18.9K).

-Tim

Originally posted by BAR_Daddy
I have had to go through this with my insurance company an several occasions.

In all but one instance, I had to contact the State Insurance Commissioner and determine my rights.

It was amazing, once the Insurance Commissioners office gathered information from the insurance company, they came very close to what I had requested for a settlement. This happened in each case.

Don't be afraid to negotiate with them. Just gather together all of the evidence of market value that you can and argue away.

BTW, my insurance company claimed to use the NADA book, yet when I visited with my banker he came up with a higher value (with his NADA book).

I then went online to the NADA website and that gave a higher number than the banker had.

I do not know what the laws are in your state so you will have to investigate your rights.

FWIW.



Thank God that your wife was unharmed. Material things can be replaced. One of the accidents mentioned above was a multiple roll-over that nearly took my daughters life. She was wearing her seatbelt and that saved her. All she has is a nasty scar on her right shoulder from the "road rash".

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If you decide to repair it be careful. Often in a crash like that there may be hidden damage that you won't know about until the body shop tears into it. Then you are committed of course. And sometimes the hidden damage can make a car totally unsafe to drive. Best to take the money, as much as you can get. If you owe money on it, hopefully you have gap insurance. It is worth the money if you total a car and its not expensive 200-500 $ depending. I had a car totalled and it completely made up the difference. The only downside is that I had to file a pile of paperwork to get it.

Rocketbiker