car totaled... insurance claims negotiation?
 

A quick question-

My car was totaled, and the insurance company offered me a settlement.

How negotiable is this figure? What points can I typically argue on?

I did some googling, but didn't come up with much.

My car:
http://i56.photobucket.com/albums/g1...and-prix-1.jpg

His car:
http://i56.photobucket.com/albums/g1...ms/ciera-1.jpg
http://i56.photobucket.com/albums/g1...ms/ciera-2.jpg

I think I won [img]/images/graemlins/smile.gif[/img]

Re: car totaled... insurance claims negotiation?
 

Don't have a lot of experience with this, but I'd go to Edmunds.com and find out what it would cost to buy your car from a dealer. You can key in all the pertinentt info like color, miles, options, ect.

If the insurance company's offer is higher, take it. If not, show them what you found.

I'm guessing they use NADA for their values, which should work in your favor. But, it never hurts to check.

Re: car totaled... insurance claims negotiation?
 

basically everything Roundguy said. Use vehix.com, autotrader etc etc and look around for cars that have similar mileage to yours. NADA, Edmunds, KBB will all be pretty similar. Make sure you arm yourself with this information and treat negotiations with your insurance company just like you would buying a car. Remain polite but firm and let them know that you've done your homework. They may drag their feet a litle before they settle but they will settle. I can't guarantee this strategy works everywhere but in Massachusetts it certainly does.

Re: car totaled... insurance claims negotiation?
 

Ya,

I'm looking at numbers in Edmunds and KBB. Can I include costs for like tax/tags/etc in the number?

Re: car totaled... insurance claims negotiation?
 

Is it the other driver's ins. co or yours? If yours you'll need some kind of hard fast evidence to argue up. If theirs they might try to lowball you. Either way I'd be happy if you get around the middle KBB value (private party value I think).

Re: car totaled... insurance claims negotiation?
 

Man, when I totaled my beat up explorer that I bought for $900 three months earlier, and the insurance company offered me 3300, I about shitted my pants.

They gave me more then usual because of A) low mileage, B) new tires, and yes, they also gave me money for tax/title transfer, etc. So you may be able to argue more money if you have had any wearable parts recently serviced?

Time to finally get that elusive Z!!?

Re: car totaled... insurance claims negotiation?
 

Suzzer,

Based on the damage, I'm guessing the other guy was taking a right turn into traffic (like turning onto a road from a side street) and Hero smacked him, so it's the other guy's insurance that will pay.

Re: car totaled... insurance claims negotiation?
 

I was coming home from work on 495. Another SUV rear ended that oldsmobile, and he skid into my lane, almost completely 90 degrees to me.

I'm not at fault, so it will be on the other guy's insurance.

I think I'm gonna wait on the z28 for now [img]/images/graemlins/smile.gif[/img] The z28 'dreams' I have are to rebuild a 1st gen (68-69), but that will be a project for later when I have a garage and more money.

Re: car totaled... insurance claims negotiation?
 

geez, the first picture didn't seem so bad...then the 2nd and 3rd pics looks like the first car got into another accident.

Glad you are ok?

Re: car totaled... insurance claims negotiation?
 

how much off the KBB value is it? Both Private and Trade in. Usually I think its about 75% of the private value - deductable

Re: car totaled... insurance claims negotiation?
 

[ QUOTE ]
geez, the first picture didn't seem so bad...then the 2nd and 3rd pics looks like the first car got into another accident.

[/ QUOTE ]
And gee, isn't it funny that the first car is black, and the 2nd/3rd is BLUE!!! That was some freakin' accident to actually change the car's color.

punkass needs to work on his comprehension skills.... [img]/images/graemlins/smile.gif[/img]

Re: car totaled... insurance claims negotiation?
 

[ QUOTE ]
[ QUOTE ]
geez, the first picture didn't seem so bad...then the 2nd and 3rd pics looks like the first car got into another accident.

[/ QUOTE ]
And gee, isn't it funny that the first car is black, and the 2nd/3rd is BLUE!!! That was some freakin' accident to actually change the car's color.

punkass needs to work on his comprehension skills.... [img]/images/graemlins/smile.gif[/img]

[/ QUOTE ]

I = stupid.

Re: car totaled... insurance claims negotiation?
 

[ QUOTE ]
A quick question-

My car was totaled, and the insurance company offered me a settlement.

How negotiable is this figure? What points can I typically argue on?

I did some googling, but didn't come up with much.

My car:
http://i56.photobucket.com/albums/g1...and-prix-1.jpg

His car:
http://i56.photobucket.com/albums/g1...ms/ciera-1.jpg
http://i56.photobucket.com/albums/g1...ms/ciera-2.jpg

I think I won [img]/images/graemlins/smile.gif[/img]

[/ QUOTE ]

Initial offers are very negotiable, because the insurance company won't want to pay a lawyer to fight you in court. I got a pro bono client more than double KBB for his car. Your car looks old enough that you could sue in small claims court without the need for a lawyer. Start off with a high demand, and gradually come down as they go up. Hold out until just before your case is scheduled for trial and take the last offer.

Re: car totaled... insurance claims negotiation?
 

Any suggestions for other replacement cars to beat on for a while? (~10k)

I'm leaning towards an 02 maxima right now, just because I like the torquey 3.5L VQ engine.

I'm not sure if I could bring myself to drive another 4cyl, even though gas is killing me.

Re: car totaled... insurance claims negotiation?
 

[ QUOTE ]

Initial offers are very negotiable, because the insurance company won't want to pay a lawyer to fight you in court. I got a pro bono client more than double KBB for his car. Your car looks old enough that you could sue in small claims court without the need for a lawyer. Start off with a high demand, and gradually come down as they go up. Hold out until just before your case is scheduled for trial and take the last offer.

[/ QUOTE ]

Wow, this seems ridiculously high? How were you able that they should pay more than double the car was worth?

Was this including bodily injury too, or just the negotiation for the vehicle?

Re: car totaled... insurance claims negotiation?
 

I got my insurance company to almost double what they orignally offered. It was a 96 Saturn (totaled in 2006) They offered 2200 which was approximately KBB, I ended up getting 4k by citing adverts online and in the paper showing all the local avaliable were for at least 4k (private owner) vs some over 5k from dealer.

I had debated for a couple years dropping the collision coverage on it but it was only like $220 a year so I kept it.

WTF KBB?

Bob

Re: car totaled... insurance claims negotiation?
 

[ QUOTE ]
Any suggestions for other replacement cars to beat on for a while? (~10k)

I'm leaning towards an 02 maxima right now, just because I like the torquey 3.5L VQ engine.

I'm not sure if I could bring myself to drive another 4cyl, even though gas is killing me.

[/ QUOTE ]

Get a frigging manual transmission and having a 4cyl won't matter in regards to acceleration. I had a Prelude SI and now have a Sentra, both stick and there's no comparing them to a 4cyl automatic.

Re: car totaled... insurance claims negotiation?
 

[ QUOTE ]

Initial offers are very negotiable, because the insurance company won't want to pay a lawyer to fight you in court. I got a pro bono client more than double KBB for his car. Your car looks old enough that you could sue in small claims court without the need for a lawyer. Start off with a high demand, and gradually come down as they go up. Hold out until just before your case is scheduled for trial and take the last offer.

[/ QUOTE ]

sweet, Im sure we are all glad we can pay higher rates so people can get double what their car is worth.

I had a Civic stolen a few years ago and the insurance company gave me 13K i believe. I payed 15K for it 3 years earlier and it had been in an accident and repaired, so I believe (at least mine) they are pretty fair about the value.

Re: car totaled... insurance claims negotiation?
 

I work for an insurance company in claims for bodily injury and total losses.

The value is complied, not by KBB or Edmunds, but by a 3rd party that has huge databases that search all cars for sale that are like kind and quality to what you have. Increasing the value is miles, condition and additions to your car like sunroof, wheels, engine, etc. The database search companies give a current "market value" based on the info I stated above and where you live and that market area.

The offers they make you are really "fair," but you can have increases based on some engine mods you recently did, or maybe you replaced all the tires and they are still new... stuff like that that is recent and verifiable through docs from your mechanic or similar.

Re: car totaled... insurance claims negotiation?
 

[ QUOTE ]
[ QUOTE ]
Any suggestions for other replacement cars to beat on for a while? (~10k)

I'm leaning towards an 02 maxima right now, just because I like the torquey 3.5L VQ engine.

I'm not sure if I could bring myself to drive another 4cyl, even though gas is killing me.

[/ QUOTE ]

Get a frigging manual transmission and having a 4cyl won't matter in regards to acceleration. I had a Prelude SI and now have a Sentra, both stick and there's no comparing them to a 4cyl automatic.

[/ QUOTE ]

Z,

That VQ is a beauty though I doubt you can get it in the 10K range. Drawback to the Maxima is of course the FWD.

Twist,

I'm glad you've enjoyed your 4 cylinders but you basically have no clue what you are talking about. Yes the manual is more responsive but no it does not magically double torque. Drive a 350Z with any transmission and then reconsider your position.

J

Re: car totaled... insurance claims negotiation?
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
Any suggestions for other replacement cars to beat on for a while? (~10k)

I'm leaning towards an 02 maxima right now, just because I like the torquey 3.5L VQ engine.

I'm not sure if I could bring myself to drive another 4cyl, even though gas is killing me.

[/ QUOTE ]

Get a frigging manual transmission and having a 4cyl won't matter in regards to acceleration. I had a Prelude SI and now have a Sentra, both stick and there's no comparing them to a 4cyl automatic.

[/ QUOTE ]

Z,

That VQ is a beauty though I doubt you can get it in the 10K range. Drawback to the Maxima is of course the FWD.

Twist,

I'm glad you've enjoyed your 4 cylinders but you basically have no clue what you are talking about. Yes the manual is more responsive but no it does not magically double torque. Drive a 350Z with any transmission and then reconsider your position.

J

[/ QUOTE ]

J - I'm seeing 2002 Maxima's (first year w/ the 3.5), around 70k miles for $9000-$9500ish. I think that's my target.

And I agree - no manual transmission makes up for a lack of torque. I believe automatic trans's lose something like 20% of the power to the wheels while manuals lose around 15%. That 5% does not make up for 100 horsepower [img]/images/graemlins/smile.gif[/img]

Also, I have no intention of driving a manual here in DC where stop-and-go traffic is ridiculously bad.

Re: car totaled... insurance claims negotiation?
 

0-60 #'s:

2002 Maxima (3.5L V6) - around 6.5s
2000 Prelude SH (2.2L V4) - around 7.5s

Re: car totaled... insurance claims negotiation?
 

ToTheFelt - you have a PM

Re: car totaled... insurance claims negotiation?
 

My car was recently totalled and I was really surprised at how generous their offer was. The car was less than 6 months old, only a few thousand miles on it. They offered me about $2500 more than I paid for it (including tax, registration, everything). Went out and bought a new one for $1000 less than I paid the first time around, so I came out ahead about $3500. I don't really understand why they would offer me more than it costs to buy an identical car brand new, but not complaining.

Re: car totaled... insurance claims negotiation?
 

[ QUOTE ]
[ QUOTE ]

Initial offers are very negotiable, because the insurance company won't want to pay a lawyer to fight you in court. I got a pro bono client more than double KBB for his car. Your car looks old enough that you could sue in small claims court without the need for a lawyer. Start off with a high demand, and gradually come down as they go up. Hold out until just before your case is scheduled for trial and take the last offer.

[/ QUOTE ]

Wow, this seems ridiculously high? How were you able that they should pay more than double the car was worth?

Was this including bodily injury too, or just the negotiation for the vehicle?

[/ QUOTE ]

It was only for the car. His car was worth around $1700 according to KBB. He got a quote to get his car fixed for $3200, and they told him it would take at least three weeks to fix. He was old. We told the insurer we wanted repair value and three weeks loss of use as $100/day. Insurer denied the car was worth that much, so we filed suit in magistrate court. As trial got closer, they kept upping their offer, and we slowly dropped our demand. Just before trial, they offered $3600. It costs an insurer a lot of money to try a case, so they will settle for more than a car is worth to avoid trial. Moreover, there is a chance that you will win on your crazy demand.

Re: car totaled... insurance claims negotiation?
 

[ QUOTE ]
sweet, Im sure we are all glad we can pay higher rates so people can get double what their car is worth.


[/ QUOTE ]

My job was to get my client as much as I could, not to get him what was "fair" for everybody.

Re: car totaled... insurance claims negotiation?
 

I'm a claims adjuster and handle total losses on a daily basis. Our offer is made off of NADA and then adjusted for condition of vehicle. We start with a "perfect" car, and then decrease for any prior damage. New tires typically do you no good, as tires are needed to make the car worth anything anyhow. If you don't think you have a fair offer at hand, you need to prove to the insurance company why it isn't fair. I.e. get on auto trader and find cars that have the IDENTICAL options and mileage to compare to and pray they are significantly more than your offer, if they are slightly more, they will do you no good as most dealerships will negotiate pricing.

Next, you typically have the right to an "appraisal clause" in your policy contract. You pay for an appraisor, we pay for an appraisor, and you pray they meet a common ground, if not, the two appraisors agree on a 3rd, and we split the cost of the 3rd.

I'm not sure which JV insurance company the above poster beat up in court, but I can guarantee it wasn't one of the major ones. Our policy contract is air tight, and appraisal is the required step before any kind of legal action can be taken against us on this matter. Legal action before hand is a breach of contract on the insureds part.

Most insurance companies are going to make a fair offer right off the bat. If they don't, it could be considered acting in "bad faith" and cause all kinds of problems to say the least.

If you have any questions, feel free to ask away, I'll be glad to help.

w

Re: car totaled... insurance claims negotiation?
 

[ QUOTE ]
I'm a claims adjuster and handle total losses on a daily basis. Our offer is made off of NADA and then adjusted for condition of vehicle. We start with a "perfect" car, and then decrease for any prior damage. New tires typically do you no good, as tires are needed to make the car worth anything anyhow. If you don't think you have a fair offer at hand, you need to prove to the insurance company why it isn't fair. I.e. get on auto trader and find cars that have the IDENTICAL options and mileage to compare to and pray they are significantly more than your offer, if they are slightly more, they will do you no good as most dealerships will negotiate pricing.

Next, you typically have the right to an "appraisal clause" in your policy contract. You pay for an appraisor, we pay for an appraisor, and you pray they meet a common ground, if not, the two appraisors agree on a 3rd, and we split the cost of the 3rd.

I'm not sure which JV insurance company the above poster beat up in court, but I can guarantee it wasn't one of the major ones. Our policy contract is air tight, and appraisal is the required step before any kind of legal action can be taken against us on this matter. Legal action before hand is a breach of contract on the insureds part.

Most insurance companies are going to make a fair offer right off the bat. If they don't, it could be considered acting in "bad faith" and cause all kinds of problems to say the least.

If you have any questions, feel free to ask away, I'll be glad to help.

w

[/ QUOTE ]

You are overlooking that this claim, like my client's claim, is a third party claim, so the appraisal clause is irrelevant. And, it was GEICO that I beat up, not some chop shop. Also, I am not saying their opening offers weren't reasonable. He merely asked if he could get more, which he can.

Re: car totaled... insurance claims negotiation?
 

Yep, missed that. The appraisal clause is junk when dealing with a claimant not an insured. In your case, Geico basically decided it was cheaper to pay then it was to fight.

Congrats on the win. You did your job and got your client more money. Insurance companies ultimately have to decide when it is cheaper to just pay than it is to fight. In your case, Geico decided not fight it. Court is an expensive proposition. If it had been a larger amount of $$$ they probably fight you tooth and nail.