How does insurance work with totalling a car?

[derekf]

I got run off the road and into a concrete barrier on Monday in my 98 Z28. Damage to the passenger side, front and rear. I don't doubt that I've tweaked the unibody, and the rear axle and rear wheel are both definitely bent.

The claim has been turned over to the "total loss" department of State Farm, but they still haven't returned my calls from yesterday.

My question/my concern is that based on kbb/nada/edmunds, blue book value on a 98 Z28 is less than 5k, so I expect that'd be the best they'd offer me - but there aren't any equivalent vehicles listed on craigslist/autotrader/local classifieds for anywhere close to that.

So... if they offer a number that's way too low, do I have any recourse or am I just stuck?

[jy211]

fight them. Or make them find the same condition car for the settlement offer...

[Taylor1969]

You will have to go back and forth with them until you can agree on the price. Unfortunately you are right - you cannot find a nice 98 Z28 for less than 8K... Maybe producing enough evidence (through car trader, ebay, the classifieds, etc.) will help you in your fight.

[derekf]

So you just say "no, that's not going to work" and point them at various equivalent cars for lots more? Is it just you-against-the-loss-person, or do you get your agent involved (or are they more an advocate for the insurance company than for you?)

[jy211]

Yup. tell them that's too low. And like Taylor said have proof that there are no cars in the condition of yours available for their offer amount.

[1969CamaroRS]

Some states you have the ability to request a quick arbitration within a certain time period (I think its 21 days in CA). They figure people just want the entire mess behind them and are willing to settle for less money, so the longer you hold out the more they tend to offer (within reason).

[200horse]

lol good luck fighting an insrance company. its going to be real hard to do they will wear you out. Good Luck let us know what happens.

[Dayton]

Derek,

You are going to want to do what I did. I was involved in a no fault accident several years ago. The at fault driver and I had the same ins co, Cal State Auto Assn. My 1996 Toyota 4Runner was totaled.
I was t boned so hard, I roll 3 times.
CSAA offered me a settlement that I wasn't too happy about. I declined their settlement and told them I would get back to them in a few days. I then began my research. I scoured the internet for other "for sale" 1996 4Runners with similiar options and mileage. I called them all if they were similiar to mine. I asked, is the car still for sale? How much? If it sold, how much?. Armed with my research report with I gave to the adjuster, I got an add'l $2000 out of CSAA.

[tiznodd]

KBB/NADA, etc. are all just guides. These do not stand up in court very well, therefor insurance companies don't use these. They use 3rd party companies that have a database of actual verified sales in your area, then average them all together. You might be surprised what they offer you. Typically what my company offers people is more than KBB, and certainly more than I would pay for most cars. Keep in mind that the burden of proof lyes on you, just as you would be the plaintif in court and they would be the defense. They will provide documentation as to why it is worth what they say, and you must provide documentation as to why it is worth more. Simply saying, "my car is worth more, I don't accept your offer" doesn't work. It is simply a statement of opinion and someone would look like a fool presenting that argument in court. What I do know is that in most states the insurance company is REQUIRED to settle, or show they have tried in a reasonable time period. What happens if you drag your feet expecting them to "give in" is that they will owner retain salvage the vehicle, which means give you the undisputed amount, less the salvage value of your vehicle and leave it up to you to make the next move.
As for the comment about making them provide you another car, the law clearly states that they owe for the value of property, not the property itself so good luck with getting them to buy you another Z28.
Good luck, it might not be as bad as you're expecting.

I got run off the road and into a concrete barrier on Monday in my 98 Z28. Damage to the passenger side, front and rear. I don't doubt that I've tweaked the unibody, and the rear axle and rear wheel are both definitely bent.

The claim has been turned over to the "total loss" department of State Farm, but they still haven't returned my calls from yesterday.

My question/my concern is that based on kbb/nada/edmunds, blue book value on a 98 Z28 is less than 5k, so I expect that'd be the best they'd offer me - but there aren't any equivalent vehicles listed on craigslist/autotrader/local classifieds for anywhere close to that.

So... if they offer a number that's way too low, do I have any recourse or am I just stuck?

[T_Raven]

i'm interested to know what happens with this. i had a motorcycle totalled once when i let a potential buyer ride it. i actually got more out of it than i was asking for it, but my insurance company rocks. they gave me the nada book value.

my neighbor hit my sister's parked car one day totalling it. his insurance company offered a "market value" much lower than book value. i found 15 ads online for similar cars in similar condition, all were asking for more than what they offered my sister but it did no good. i'd still like to know how they get their "market value"

[mpozzi]

Derek,

You are going to want to do what I did. I was involved in a no fault accident several years ago. The at fault driver and I had the same ins co, Cal State Auto Assn. My 1996 Toyota 4Runner was totaled.
I was t boned so hard, I roll 3 times.
CSAA offered me a settlement that I wasn't too happy about. I declined their settlement and told them I would get back to them in a few days. I then began my research. I scoured the internet for other "for sale" 1996 4Runners with similiar options and mileage. I called them all if they were similiar to mine. I asked, is the car still for sale? How much? If it sold, how much?. Armed with my research report with I gave to the adjuster, I got an add'l $2000 out of CSAA.

Best advice I've heard and glad to hear you got a fair and equitable settlement offer from my employer. The insured must do their homework if they feel the offer isn't valid. Also, show evidence of maintenance and other work that would bring the value up.

Good luck,
Mary Pozzi

[Patrick]

Do your research. Find out what cars in your condition & mileage are going for...If they offer you less tell them that your research indicates that the offer is too low. Be polite..adjusters deal with a--holes all day long. Be prepared to provide examples of cars to the adjuster (thus making their decision easier). Remember negotiating 101...ask for more and then come down to your price point.

[derekf]

Thanks, all of you. I'm still waiting on them to return my calls but I will post an update when I have something concrete (get it) to report.

[BA.]

I agree with most of the positive posts up there.

You absolutely have the right to negotiate the payout. I bought back my totaled 69 Camaro long ago, and also received better payout on a stolen sportbike after negotiating with the agent in person.

Good luck man!! Round up that data from Ebay, TraderOnline, etc.

[dstryr]

Buy it back and throw the lt1/t56 into your pro-tourer

[Rhino]

Buy it back and throw the lt1/t56 into your pro-tourer

ls1

[Bill Howell]

Derek, I may have missed this somewhere in your posts, but here is my question. Are you dealing with your insurance or someone else's insurance (ie, the guy that ran you off the road)? Much easier to deal with the offender's insurance than your own.

[Jim Nilsen]

Call the claims adjuster till you reach them. Like speed dial call till you reach them.
Then let them know that you want the car no matter if they total it or not. This is a leverage you have since most contracts give you the first option to buy it back if it is totalled. Parts is parts and they benefit from the parts if they get the car if they choose to. The main thing is to cause them more work which cost them more money. You will get a higher price if you just do more research yourself and have pictures that are recent of the cars condition and present it well.
Be ready to have a place to keep the wrecked car so you don't pay their storage fees. Sometimes it adds up to be a good deal if you can get them drivable quick and cheap and sell it or keep it as a good beater.

Bill speaks a whole lot when he asked if you caused the accident or if you got hit. You never come out as good when you are the destroyer

Good luck

[Steve1968LS2]

Derek, I may have missed this somewhere in your posts, but here is my question. Are you dealing with your insurance or someone else's insurance (ie, the guy that ran you off the road)? Much easier to deal with the offender's insurance than your own.

There's the big question...

If you're not at fault it's much easier to leverage the other guy's insurance.

I dealt with State Farm and they were very reasonable. Do you're homework. If they want to total the car then don't be afraid to argure. If they offer less than you feel is fair then don't be afraid of small claims court. Don't mention lawyers as a threat though since that will end the dealings with the first claims adjuster and get you to thier legal side.

Also, if the offer is close see if they will pay and let you keep the damaged car. Parting out the car could make up the difference between what they give you and what it will cost to get a replacement.

Good luck and sorry to hear about the accident.

[seekins]

I actually totaled a car 2 times......

Got rearended in my Camery and they gave me NADA value. I purchased the car back for cheap. (trunk moved in about 10")

Almost exactly one year later i got rear ended in the same car again. I never did fix much of it, just the lights and beat the trunk back a bit. It was still held down by a tie down. Dont laugh (too hard), it was my commuter car.

I told the 2nd insurance co. that it was totaled out previously. for the car, they offered me NADA value minus the body damage quote from the previous wreck (5000 car with 1800 damage). Thats the only car i have driven, beat the piss out of (literally) and made money on

Most likely, State farm (good ins. co here BTW) will do you good. Just get your evidence ready and present it to them BEFORE they offer you a value. that way, you can put a honest value in their head fist..

if they wont give you what you want, you can buy your car back for very very cheap. Then you can re-sell it to make the amount up.