Jump to content

Sign in to follow this  
KingHeart

Total Loss Settlement Offer???

Recommended Posts

My son got into a car accident in one of my vehicles last week. The other driver claims he hit her car but he said she side swipe him. Anywho, she has some off brand insurance company that wanted me to draw a pic of how the accident happen and go to their body shop for an estimate, I said no thanks. I filed a claim using my collision coverage and took my car in for a estimate.

 

Repairs: $3200

Adjuster: No, Total loss

offers: 3100 minus deductible and title fees (Must surrender car) $2600

Offers: $1600 if I decide to keep car and do repairs. Car ineligible for comp coverage. 

 

This seems low. Car is old (2008) and high miles (150k) but top trim of that model. Car is in great shape. Garage kept and it’s my only vehicle that is paid off.

 

I found similar cars going for $4999 to $6800. What are my options I really want a fair amount for my car. $1600 is not enough for the repairs.  

 

 

Share this post


Link to post
Share on other sites

what is the NADA value of the car? 12 years and 150k is old especially if we're talking dodge or chevy.

 

who was found at fault for the accident?

Share this post


Link to post
Share on other sites

Who did the policeman write at fault for the vehicle accident?

Sent from my SM-N950U using Tapatalk

Share this post


Link to post
Share on other sites

It’s disputed court date set. The other driver received a ticket, for what I’m not sure. My son is listed first on the police report but it only list the parties information no statements. She filed a claim with my insurance but they haven’t accepted liability, as that shouldn’t. 

Edited by KingHeart

Share this post


Link to post
Share on other sites

Long and short, they are only going to go off of NADA/book values, regardless of how good of condition it is in.  Your only likely recourse will be to sue the other insurance company (assuming the other party is at fault) and try to prove that you suffered a loss greater than what you are being compensated for.  The other issue you face is that the price people are asking for a car is not what they are worth or what they actually sold it for.  It's just like collectibles, a guide or an "expert" may put a value on something, but ultimately it is only worth what someone is willing to pay for it.  I would suggest checking multiple sources (NADA, KBB, Galves) to see where the car falls in value for a private party sale.

Edited by CTSoxFan

Share this post


Link to post
Share on other sites

It only list retail sale or trade in. Of course trade in is low. Retail is more then I’m being offered. What happen to the whole make me whole text that’s in my policy.

Share this post


Link to post
Share on other sites

Who is totaling?  Your carrier or the other driver's carrier? 

 

If it is YOUR carrier, then it is time to begin looking for another company because yours is clearly not worth a damn (it won't impact THIS incident but it says you need to get rid of the gecko or Flo and use a good company in the future).  If it is the other driver's carrier, then counsel for your carrier should be stepping up on your behalf.  I've never seen a carrier that gave different numbers if the owner wants to keep an owner-retain total.  When an acquaintance rolled my one-ton, my carrier even offered to flat-bed the truck back to my house at no additional charge (I could have gotten another $3K for the engine and transmission in addition to other parts that were still very much intact). 

 

You don't mention WHAT the vehicle is.  There are some 2008 vehicles that are really nice and there are a lot of fleetmobiles out there that are not worth a damn no matter WHAT trim level.  When my XK8 got hit, the other party ultimately sent out an appraiser that was skilled in working numbers up on vehicles that were show-quality.  That individual was unable to quibble with the estimate put together by the shop I was going to use and that had skill in doing frame-off types of work.  

Share this post


Link to post
Share on other sites
4 hours ago, KingHeart said:

It only list retail sale or trade in. Of course trade in is low. Retail is more then I’m being offered. What happen to the whole make me whole text that’s in my policy.

But therein lies the problem...what is the definition of "whole".  By your standards, it is what you think you can sell it for.  By their's, it is what an independent 3rd party thinks it is worth.  In order to get them to use your definition, you are going to have to prove it is worth what you say. (in terms of totaling the car and paying it out)

 

I agree with Centex though, it seems odd that they will give you less if you choose to repair it.  I could see them saying we will only give you book value less your deductible, but it doesn't appear that was the offer. 

 

Unfortunately you are stuck in a situation that is common when you're dealing with older model cars that are still in excellent shape.

 

Insurance carriers, like most things in life are definitely a "you get what you pay for" situation.

Share this post


Link to post
Share on other sites

https://ibb.co/y4K71Gr

 

Auto insurers in this country needs overhauling. I’m so frustrated with the process that I’m considering paying out of pocket and sue later. Anybody with a brain can see their trying to screw me. I don’t deal with stress very well so I’m leaning towards paying out of pocket. I’m not giving them my car, it’s fixable. My claim adjuster claims that the “threshold” in Illinois for “economical loss” is low (65%) that legally they can’t fix my car because the repairs exceeds 65% of the vehicles value, never heard of that before doubt its even true. 

 

Now I realize why it’s important to read your policy. But who does that?  

 

 

Share this post


Link to post
Share on other sites
29 minutes ago, KingHeart said:

https://ibb.co/y4K71Gr

 

Auto insurers in this country needs overhauling. I’m so frustrated with the process that I’m considering paying out of pocket and sue later. Anybody with a brain can see their trying to screw me. I don’t deal with stress very well so I’m leaning towards paying out of pocket. I’m not giving them my car, it’s fixable. My claim adjuster claims that the “threshold” in Illinois for “economical loss” is low (65%) that legally they can’t fix my car because the repairs exceeds 65% of the vehicles value, never heard of that before doubt its even true. 

 

Now I realize why it’s important to read your policy. But who does that?  

 

 

who is your insurer?

what is the make and model?

are you going to sue your kid?

Share this post


Link to post
Share on other sites

does your state have an insurance ombudsperson or someone in the insurance office with a similar title?

Share this post


Link to post
Share on other sites

Progressive Insurance 

Ford Fusion 

Lol.... He’s my first born so he gets away with a lot of shhh. He’s grown now but still my baby boi.

Share this post


Link to post
Share on other sites
8 hours ago, KingHeart said:

Progressive Insurance 

Ford Fusion 

Lol.... He’s my first born so he gets away with a lot of shhh. He’s grown now but still my baby boi.

And we have found the source of your issue.  Low rates on insurance are great, until you actually need them to help you.

Share this post


Link to post
Share on other sites

You mentioned you are in Illinois.  You can reach out to the Illinois Department of Insurance for assistance.  

Share this post


Link to post
Share on other sites
On 8/2/2019 at 6:41 PM, KingHeart said:

she has some off brand insurance company

 

On 8/3/2019 at 10:18 PM, KingHeart said:

Progressive Insurance 

Pot, meet kettle.

Share this post


Link to post
Share on other sites
On 8/4/2019 at 4:55 AM, CTSoxFan said:

And we have found the source of your issue.  Low rates on insurance are great, until you actually need them to help you.

Sadly, I called it in my earlier post with the reference to the gecko or Flo...what OP is describing is a story of woe told by far too many of their (former) customers.  Nobody ever WANTS to have use their insurance, but in situations like this, it is worth having spent a little extra in order to have a carrier that actually takes care of their policy-holders. 

 

Side note, for those that have collectible vehicles that don't get driven much, I can speak well of Haggerty...when some numbnuts backed into the XK8, they did not even send an adjuster out.  They just told me to get an estimate and send it to them...I had a check for the complete amount less the small deductible within a matter of days.  THAT is great service IMO!

Share this post


Link to post
Share on other sites
49 minutes ago, centex said:

Sadly, I called it in my earlier post with the reference to the gecko or Flo...what OP is describing is a story of woe told by far too many of their (former) customers.  Nobody ever WANTS to have use their insurance, but in situations like this, it is worth having spent a little extra in order to have a carrier that actually takes care of their policy-holders. 

 

Side note, for those that have collectible vehicles that don't get driven much, I can speak well of Haggerty...when some numbnuts backed into the XK8, they did not even send an adjuster out.  They just told me to get an estimate and send it to them...I had a check for the complete amount less the small deductible within a matter of days.  THAT is great service IMO!

seconded. I have 3 with haggerty simple stated value. I had to up the liability so that amica umbrella will pick up anything over 500k but other than that haggerty has been great service.

Share this post


Link to post
Share on other sites
On 8/5/2019 at 8:48 AM, cv91915 said:

 

Pot, meet kettle.

Progressive insurance is no way on the same level as Acceptance Insurance, which is the carrier the other driver has. But to Update you MY CHECK is on its way to cover my loses. So I got paid, now what do you call that? 

Share this post


Link to post
Share on other sites
7 hours ago, KingHeart said:

Progressive insurance is no way on the same level as Acceptance Insurance, which is the carrier the other driver has. But to Update you MY CHECK is on its way to cover my loses. So I got paid, now what do you call that? 

Haggis.

Share this post


Link to post
Share on other sites
10 hours ago, KingHeart said:

Progressive insurance is no way on the same level as Acceptance Insurance, which is the carrier the other driver has. But to Update you MY CHECK is on its way to cover my loses. So I got paid, now what do you call that? 

I am glad it worked out for you.  Did you get the full amount you were seeking?

 

Personally I would call that "the insurance company doing their job", but that's just me...

Share this post


Link to post
Share on other sites
14 hours ago, KingHeart said:

Progressive insurance is no way on the same level as Acceptance Insurance, which is the carrier the other driver has. But to Update you MY CHECK is on its way to cover my loses. So I got paid, now what do you call that? 

Much depends on whether you have been made WHOLE as was the point you were originally raising...getting A check doesn't mean a thing if it leaves you in a poor position relative to what you SHOULD have received. 

 

And hopefully you are looking for a good carrier for the future...although it may be time to make the kid pony up for his own policy.

Share this post


Link to post
Share on other sites
8 hours ago, CTSoxFan said:

I am glad it worked out for you.  Did you get the full amount you were seeking?

 

Personally I would call that "the insurance company doing their job", but that's just me...

https://ibb.co/nnyvQwF

 

It’s always good to know people who know people. Got a good deal on repairs, car should be ready Saturday. The payout honestly was $900 over repairs cost. So that money will be used for a new policy since the car is no longer eligible for comp coverage thru Progressive. So I lost nothing.

 

My son is 21 and in college. My parents makes his car payments and insurance. He’s not home most of the year and usually doesn’t drive my car(s). 

Edited by KingHeart

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




  • Today's Birthdays

    1. iliana
      iliana
      Age: 48
  • Member Statistics

    • Total Members
      177,972
    • Most Online
      1,956

    Newest Member
    time2getserious
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines