My vehicle was totaled by my insurance company
- Thread starter pclark
- Start date
Don't give in. Had a van that was totaled 30 years ago. They were low balling me. Told them all the extras on the van including new tires and they came up a few thousand to where it was reasonable to take the deal. Also, you can buy back vehicle if it is worth it to part it out. Many tiems you get more money out of it.
If you have a good a relationship with a dealership, ask them to provide you a trade in quote that is back dated before your accident. Make the trade-in price reflect the amount your hoping to receive and is consistent with Edmonds, KBB, etc. Use it as another document to prove the value of your vehicle. It works if you have the relationship with a dealer.
mezz
Well-known member
What insurance company are you dealing with? Some companies employ their own appraisers who write their own estimates, they tend to favor the company which I think is 29 kinds of wrong. Kelly BB is a widely used guide for values for dealerships, banks, independent appraisers etc. A total loss for insurance is within 70% of the BB value. Yes, you do have first right to the salvage & can cash out the remainder of the vehicles value, but, often times it's not worth the effort unless you can make it road worthy for the amount of the pay out. The cost of parts today is unreal, I have seen minor claims in the $3,000 to $5,000 dollar range double in the last 3 years, minor claims are now $6 to $10,000. IMO, to buy the salvage & part it out is too time consuming & who wants a wrecked vehicle hanging around. If the vehicle has additional accessories added as well as had recent work done on it, i.e.. paint & body, tires, battery etc... these should all be taken into consideration when settling the loss. Don't let them muscle you into anything less than what is a fair return on the vehicles value.
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If it’s 10 years old you are going to take a beating no matter how good you took care of it. Definitely stand up for yourself you will get more but it’s all by the book. Find out what amount you are paying my sleds are at purchase value I didn’t know that until I had a wreck and best settlement was total and sold the salvage outstanding deal for me.
mezz
Well-known member
I did a quick KBB look up for you based on all 3 models of Tahoe using 100,000 miles in very good condition. I saw a picture of it in your thread & feel it is in very good condition. I used Standard Equipment on each of the models.
The LS Sport with standard equipment ranges in value from $3935 to $4774 with an ave trade in value of $4335, Private Party sale price ranges from $6385 to $8002 with an ave sale value of $7194.
The LT sport trade in value is from $5874 to $7147 with an ave trade value of $6511, Private Party sale $8176 to $10,181 with ave sale $9179
The LTZ sport trade in value is from $5989 to $7000 with an ave trade value of $6495, Private Party Sale $8367 to $9962 with ave sale $9165
All of the above values were based on the zip code for Manitowish Waters.
The company should be valuing this as a Private Party sale as well as what this type of vehicle would bring as a sale value in your immediate area. This is just a general idea as I have no idea of the correct mileage, that would be the only factor that would change the values as far as KBB aside from exactly what type of equipment over the standard equipment, i.e. cloth seats vs leather, dual power seats etc...
The LS Sport with standard equipment ranges in value from $3935 to $4774 with an ave trade in value of $4335, Private Party sale price ranges from $6385 to $8002 with an ave sale value of $7194.
The LT sport trade in value is from $5874 to $7147 with an ave trade value of $6511, Private Party sale $8176 to $10,181 with ave sale $9179
The LTZ sport trade in value is from $5989 to $7000 with an ave trade value of $6495, Private Party Sale $8367 to $9962 with ave sale $9165
All of the above values were based on the zip code for Manitowish Waters.
The company should be valuing this as a Private Party sale as well as what this type of vehicle would bring as a sale value in your immediate area. This is just a general idea as I have no idea of the correct mileage, that would be the only factor that would change the values as far as KBB aside from exactly what type of equipment over the standard equipment, i.e. cloth seats vs leather, dual power seats etc...
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hermie
Well-known member
We had our CRV totaled about 1 year ago. They came in $2,500 less than I thought it was roughly worth. I asked how they came up with the value and I was told they use a outside company and they find cars that are close to mine with about the same mileage and come up with a average price. I told them I don't think so as I was looking myself for a replacement for my wife and wasn't finding them at the money they offered. He asked if I would like him to look up blue book price. I told him yes and it ended up being $2500 higher than what they were offering us. I ended up getting blue book. This was through State farm. We had State Farm and so did the distracted driver that slammed into the back of her.
I had a truck get totaled out last year, the insurance company used a company called CCC One to assign the ACV (Actual Cash Value). In my opinion it was low, I had to point out several high dollar options I had they did not account for and then they did another offer. Still felt it was low but wanted to settle and get a new truck ordered so I accepted it. In hindsight I learned there are several companies that will contest it for you if you have an arbitration clause in your policy.
pclark
Well-known member
No, it’s our other vehicle, a 2017 Lexus.
pclark
Well-known member
Yes, this is the same 3rd party company doing mine. I just put new tires on it, $1200, weather tech mats, etc. I talked to them about it and they need receipts, and other examples of similar vehicles. I think it sucks that I have to do all this work but I will and hope to get a few thousand more.
pclark
Well-known member
Thanks Mezz, appreciate it. The vehicle is a 2017 Lexus GX460 with 108,00 miles. I hit a a deer at 55mph. Brutal…..
uncle_ed
Active member
I was in the collision business all my working life and have dealt with this quite a bit. Quite often I found the settlements to be fair and the owners happy with a settlement but not always. Yes, your settlement is negotiable to some degree but the burden is on you to prove why it's worth more in the way of receipts or to make sure they included all of the car options in its evaluation. Tires should have been measured to determine tread depth so you would be compensated already for good tires vs a worn out set. Not only options determine a cars value but condition as well. If you have other damage say a dent in the qtr pnl that would cost $1200 to repair than $1200 is subtracted from the acv of your settlement. Some insurance co`s are better than others to deal with when it comes to getting a fair settlement and this is when you find out if you have that company....
mezz
Well-known member
Ouch!! For the GX460 Utility 4 dr KBB shows a Trade Value of $20,66 to $23,097 ave of $21582. Private Party Sale of $21,702 to $24,955 ave $23,329.
Prices reflect your zip code as well as with standard equipment & vehicle in very good condition. Again, Private Party sale price as well as cost of what is available comparatively speaking in your area should be the guide for value. New tires are an add to the value as well & I know they will ask for receipt of what was paid. Keep in mind, prices of used vehicles are selling on the top end, some with many more miles on them than yours. Good luck,.
Prices reflect your zip code as well as with standard equipment & vehicle in very good condition. Again, Private Party sale price as well as cost of what is available comparatively speaking in your area should be the guide for value. New tires are an add to the value as well & I know they will ask for receipt of what was paid. Keep in mind, prices of used vehicles are selling on the top end, some with many more miles on them than yours. Good luck,.
Paul I was told first year in Vilas living here you are going to hit a deer so if you can buy the lowest deductible possible. I never did hit a deer but got rear ended 2x and lost control on ice backwards in driveway whacked some boulders and got severe hail damage on first day moved to Northwoods. Lol Had a few spin outs on county trunks at night but managed to keep the 360s on the road. Who knew but stuff happens up north and I’m sorry you hit the deer best of luck on your settlement.
Ah, but I bet the deer is more sorry that he got hit. lol.Paul I was told first year in Vilas living here you are going to hit a deer so if you can buy the lowest deductible possible. I never did hit a deer but got rear ended 2x and lost control on ice backwards in driveway whacked some boulders and got severe hail damage on first day moved to Northwoods. Lol Had a few spin outs on county trunks at night but managed to keep the 360s on the road. Who knew but stuff happens up north and I’m sorry you hit the deer best of luck on your settlement.
Chuck I always wonder when the deer hit happens on my sled? They have jumped over me and gone to their knees on grades to avoid a side hit and I’m always looking for them in front of me been super lucky so far and I’m afraid a sled deer wreck would end my sledding career at this point. But all in all nothing can be done if it happens all I can do is hope for the best.
Had a bobcat literally jump over me outside Bergland.
pclark
Well-known member
Pete, America Family told me no deductible payment and my rates would not go up for hitting a deer.Paul I was told first year in Vilas living here you are going to hit a deer so if you can buy the lowest deductible possible. I never did hit a deer but got rear ended 2x and lost control on ice backwards in driveway whacked some boulders and got severe hail damage on first day moved to Northwoods. Lol Had a few spin outs on county trunks at night but managed to keep the 360s on the road. Who knew but stuff happens up north and I’m sorry you hit the deer best of luck on your settlement.