Yup, I'd do as I said earlier. Don't agree on anything until you're happy with the offer. Let the car sit at the tow yard and accumulate storage fees.
Insurance Help
- Thread starter Adower
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Yup, I'd do as I said earlier. Don't agree on anything until you're happy with the offer. Let the car sit at the tow yard and accumulate storage fees.
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I've been to a few dealers that have shown me recent local and nationwide sales quantities and prices to justify their sticker or offer price. Might be worth a shot to stop by a dealer and ask for some help.
I've been to a few dealers that have shown me recent local and nationwide sales quantities and prices to justify their sticker or offer price. Might be worth a shot to stop by a dealer and ask for some help.
Be careful with that. Some companies already have a clause against so many days they’ll cover.
Definitely do everything you can to find comps. Even if they’re not in your area simply finding a vehicles value (any vehicle) between zip codes is easy enough just by using KBB. After doing “what’s my vehicle worth” on a few different models you’ll easily figure out the +/- percent averages across America and do your own math. Then you you are armed with knowledge and you can kindly tell them that of course they already know this, but since they decided not to share everything involved in obtaining values fairly to you that you’d at least help them crunch numbers so they can recheck their math on the numbers they already came up with but decided to hold back on…
****ing childish games. Luckily I for one don’t mind playing because I always win.
It worked great for me when my sons Ranger was totaled and low and behold there were actually only a handful in the Chicago burbs at that exact time. So same excuse was used on me. Doing what I just described above raised his payout from $2,800 to $4,600 AND we kept the truck! All it took was one email with enough comps and maths to give an accountant a brain hemorrhage.. That’s a hell of a big difference and huge money for a 17 year old kid!
NEVER EVER EVER take their first “offer” because that’s all it is, an “offer”!
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Find the (5) best examples on cargurus - and average out the retail to get a net figure. Don’t accept the Insurance offer. Tell them to be fair, you can’t replace what you had and a National search IS necessary due to the rarity and condition of the truck.
They’re totaling it because there was an attempt to steal it - and it ended up in a tow lot? How much damage was there that it had to go to a tow lot? Why not just leave it at your residence, since you still legally own it?
So here’s some additional advice:
Get their highest cash offer, once you are happy with that offer, then tell them you want to retain the truck and essentially “buy it back” from them. They will then say to do that, they will deduct ACV from the payout figure. For example if hypothetically ACV is $5k and they were going to give you $28k, you walk away with $23k and still have the truck. Now go sell the truck as is for as high as you can - you’ll most likely make nearly 2x the amount you would have received by taking just their payout and having no truck. What are you waiting for, go get that truck back in your driveway….
They’re totaling it because there was an attempt to steal it - and it ended up in a tow lot? How much damage was there that it had to go to a tow lot? Why not just leave it at your residence, since you still legally own it?
So here’s some additional advice:
Get their highest cash offer, once you are happy with that offer, then tell them you want to retain the truck and essentially “buy it back” from them. They will then say to do that, they will deduct ACV from the payout figure. For example if hypothetically ACV is $5k and they were going to give you $28k, you walk away with $23k and still have the truck. Now go sell the truck as is for as high as you can - you’ll most likely make nearly 2x the amount you would have received by taking just their payout and having no truck. What are you waiting for, go get that truck back in your driveway….
Kelly Blue Book
Nada
Cars.com
Autotrader
Edmunds
Carvana
Carfax
CarMax
Should all offer good values to establish a reasonable median.
Another option is ask the adjuster what the salvage value is and you could buy it back and part it out or fix it and keep driving it. You’ll get a check for the value minus the salvage value and you get to keep the vehicle.
Check out Grundy.com
No mileage restrictions but you have to have another daily driver.
Grundy, $40k agreed value, only restriction was has to be garaged and as mentioned can’t be your daily.
I have an attached carport on the house though, I wonder if that will work for them.
The people who tried to steal it punched out the door lock, and then punched out the ignition, so it was not drive able. I then had the vehicle towed to the body shop and its been sitting in their tow yard. A lock smith came out and replaced the ignition. However, the body shop couldn't get the vehicle to run. We had an independent diesel mechanic come out and he said that the motor needs a rebuild.
If I remember correctly it said it had to be stored in an enclosed, lockable garage.
I say that as mine is sitting under my 20’x30’ lean-to off of my shop as I am doing a frame off on my C10 right now, but I live in a pretty secure little town so I’m not really worried.
OP sorry you’re having to deal with that nonsense. I know what a pain it is. Went through the same thing with my clean clean 700+ HP 30k mile 03 cobra a couple years ago and insurance only offered me $11k for it. Had to get comps and all that BS. Maybe str8up has something comparable to your truck you can use as an example.
str8uptoytrader.com
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Blog – Str8Up Toy Trader
str8uptoytrader.com
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I guess I don't understand why the engine needing a rebuild totaled the rig.
Also, $24k for one is a pretty strong insurance payout. I can't imagine them going much higher.
Also, $24k for one is a pretty strong insurance payout. I can't imagine them going much higher.
not likely, my uncle went through that and never could get anyone to cover it.
Looks like Hagerty may? I'm gonna call in the spring
There were other damages to the vehicle as well other than the motor being toast. Thanks for your input.
Gotcha.
Sorry for the bad luck. In a perfect world, insurance would pay out what you could replace it for...unfortunately without an air-tight agreed upon value policy, you're kinda left in the cold when the market is as crazy as it is right now.
Agreed. I’ve found a few comps at dealerships that are in the 28k range so I’ve shot that over to them.
The market is definitely in my favor right for sure though.
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State dependent, but typically Hagerty requires it.
I use Grundy. No restrictions, however, had to wait till my 18 year old moved out the house.
@Adower how did you make out?
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