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Started By
Message
Auto Insurance Question: Post Accident Valuation. Update on Page 3.
Posted on 1/9/26 at 12:44 pm
Posted on 1/9/26 at 12:44 pm
Hi everyone,
As many of you know, my wife was involved in a significant auto accident back in Dec. Her brand new vehicle ended up being listed as a total loss (this was not a surprise). For those that are wondering she's still dealing with concussion like symptoms as a direct result of the accident. For obvious reasons I don't want to go into to many details. We ended up going through our own insurance because the other party's insurance was being overly difficult to work with.
Anyway, the insurance adjuster sent us over a first offer for the vehicle. The report was kind of a mess, and intentionally or unintentionally, none of the text in it could be copied and pasted. So I went thru the report and manually entered all of the data. That's when I noticed something curious.
The report listed a series of comparable vehicles with adjusted values based upon mileage and options. Upon reviewing it, the average of those values is higher than the final Actual Cash Value (ACV) they offered by just over $1,000. We expected a low ball first offer, but the difference seems larger than anticipated. Additionally, several of the comps were the top of the line model which they used to mark ours down significantly (we had the middle of the road version (No pun intended))...
I understand that comps can be adjusted for mileage, trim, and features, but I’m wondering what other factors might lead to the final ACV being so much lower ($1+k) than the average of the adjusted comparables for the vehicles they pulled.
Could it be:
Internal depreciation or market adjustment factors?
Weighting of certain comparables differently?
Use of finance-only or other non-cash pricing?
Has anyone seen this before or can explain why a final ACV might not align with the average of the adjusted comparables?
We ended up pulling several additional vehicles and came up with a much higher number (about 10% higher than what they offered initially). We've submitted these as additional comparables and requested they re-run the report with just our trim level. What else should we do?
And yes, I know we're screwed. I'm just trying to figure out how badly.
Thanks in advance.
ETA: We paid 100% cash for the vehicle 3 months ago.
As many of you know, my wife was involved in a significant auto accident back in Dec. Her brand new vehicle ended up being listed as a total loss (this was not a surprise). For those that are wondering she's still dealing with concussion like symptoms as a direct result of the accident. For obvious reasons I don't want to go into to many details. We ended up going through our own insurance because the other party's insurance was being overly difficult to work with.
Anyway, the insurance adjuster sent us over a first offer for the vehicle. The report was kind of a mess, and intentionally or unintentionally, none of the text in it could be copied and pasted. So I went thru the report and manually entered all of the data. That's when I noticed something curious.
The report listed a series of comparable vehicles with adjusted values based upon mileage and options. Upon reviewing it, the average of those values is higher than the final Actual Cash Value (ACV) they offered by just over $1,000. We expected a low ball first offer, but the difference seems larger than anticipated. Additionally, several of the comps were the top of the line model which they used to mark ours down significantly (we had the middle of the road version (No pun intended))...
I understand that comps can be adjusted for mileage, trim, and features, but I’m wondering what other factors might lead to the final ACV being so much lower ($1+k) than the average of the adjusted comparables for the vehicles they pulled.
Could it be:
Internal depreciation or market adjustment factors?
Weighting of certain comparables differently?
Use of finance-only or other non-cash pricing?
Has anyone seen this before or can explain why a final ACV might not align with the average of the adjusted comparables?
We ended up pulling several additional vehicles and came up with a much higher number (about 10% higher than what they offered initially). We've submitted these as additional comparables and requested they re-run the report with just our trim level. What else should we do?
And yes, I know we're screwed. I'm just trying to figure out how badly.
Thanks in advance.
ETA: We paid 100% cash for the vehicle 3 months ago.
This post was edited on 1/13/26 at 7:05 pm
13
Posted on 1/9/26 at 12:47 pm to Lonnie Utah
If you have an attorney for the injuries then let them deal with the vehicle valuation as well. If no attorney then you are dumb.
If no injuries, hire Jim from DVcheck and he will help get the valuation increased.
If no injuries, hire Jim from DVcheck and he will help get the valuation increased.
Posted on 1/9/26 at 12:49 pm to Lonnie Utah
My legal advice is to direct all legal queries to your injury lawyer.
Posted on 1/9/26 at 12:54 pm to Lonnie Utah
This is definitely an attorney situation.
In the meantime, say nothing and sign nothing.
In the meantime, say nothing and sign nothing.
Posted on 1/9/26 at 1:11 pm to Lonnie Utah
There are companies that help with diminished value type situations. My wife was in a not her fault accident and their insurer didn’t want to cover loss of value on the now wrecked vehicle. $5k. I Paid these researchers to provide a report saying they were wrong. Cost me like $500. Gave it to the insurance company. They still initially don’t budge but then I called again citing the report and magically they gave the additional money owed as I talked lawyer coming next. guess they realized I wasn’t going away.
Posted on 1/9/26 at 2:30 pm to Lonnie Utah
It could be that the comparables they were using were the “asking” prices. They know the asking price is not typically the sale price; and made an adjustment.
Posted on 1/9/26 at 2:31 pm to Lonnie Utah
Running alternative comps is the only real way to present evidence of your alleged difference in value. If they don’t accept it, the remedy is to file a lawsuit and attempt to further “prove” through whatever “evidence” you can that the value is wrong. I typically advise clients that we will attempt to make it up on the BI side of the claim, but it’s otherwise not likely worth filing suit over unless we are headed that direction already. It’s worth noting that geographic location is one of the factors, i.e., usually within a 100 mile radius. I’ve done research and provided vehicles in alternative geographic areas to help support added value. At the end of the day, if you give the adjuster something to hang their hat on, they’re not necessarily out to screw you and will try to help if it’s reasonable and in good faith, especially on the PD side.
OBLIGATORY: NOT LEGAL ADVICE
OBLIGATORY: NOT LEGAL ADVICE
Posted on 1/9/26 at 3:02 pm to TigerReich
quote:
If they don’t accept it, the remedy is to file a lawsuit and attempt to further “prove” through whatever “evidence”
Uh... before paying for an attorney, try "kicking" the claim up the line. First, ask for the claims manager to review the claim and tell him that you are not happy with the valuation. If you are not satisfied, then go above his head.
Posted on 1/9/26 at 3:14 pm to TigerReich
Thank you for your response.
What about the difference in their own calculations? It's not unreasonable to have them explain how they calculated that? FWIW, there are no examples of this specific make/model vehicle within 100 miles of us.
If there is a BI side of the claim it will be against the other insurance company, not ours. I'm not sure if that helps or hurts.
What about the difference in their own calculations? It's not unreasonable to have them explain how they calculated that? FWIW, there are no examples of this specific make/model vehicle within 100 miles of us.
If there is a BI side of the claim it will be against the other insurance company, not ours. I'm not sure if that helps or hurts.
This post was edited on 1/9/26 at 3:16 pm
Posted on 1/9/26 at 3:42 pm to Lonnie Utah
ok, maybe I am reading something wrong here. But this seems like a ton of stress for $1K, if you can afford to pay 100% cash for a vehicle then why all this worry about a valuation $1k less than you expected?
Posted on 1/9/26 at 3:45 pm to loopback
quote:
maybe I am reading something wrong here. But this seems like a ton of stress for $1K, if you can afford to pay 100% cash for a vehicle then why all this worry about a valuation $1k less than you expected?
It’s how a lot of rich ppl stay rich.
They count Pennie’s while stepping over dimes, and are sometimes miserable.
Posted on 1/9/26 at 3:49 pm to BeerMoney
quote:DV isn’t relevant in this situation because its a total loss.
There are companies that help with diminished value type situations.
DV is to compensate you for the hit you’ll take in the future when you to go sell or trade in the vehicle and the value is affected by having a prior accident on the vehicle history report.
Posted on 1/9/26 at 3:53 pm to Lonnie Utah
I would still counter but I'm honestly shocked you're only 1k off their comps
Posted on 1/9/26 at 4:00 pm to loopback
quote:
ok, maybe I am reading something wrong here. But this seems like a ton of stress for $1K, if you can afford to pay 100% cash for a vehicle then why all this worry about a valuation $1k less than you expected?
Their own valuation is off by $1k based on their vehicles and how they average. The total difference based on the comps we found is closer to $3-4k. The $1k is leverage for us to ask for them to rerun the report.
These aren't the real numbers, but basically their report gave a ACV of $2000 and when you average the ACV of the vehicles listed in their comps report it comes out to $3000.
My real question here is the $1k "error" on their report accidental or intentional.
This post was edited on 1/9/26 at 4:12 pm
Posted on 1/9/26 at 4:01 pm to Lonnie Utah
quote:Brah?
We ended up going through our own insurance because the other party's insurance was being overly difficult to work with.
Good luck & I hope Mrs Utah gets good soon.
Posted on 1/9/26 at 4:05 pm to soccerfüt
quote:
Brah?
Yeah. The first thing the other companies insurance adjuster told us was we were responsible for and additional damages the vehicle might sustain at the impound lot. The lot the police had the vehicle towed to after the accident.
Posted on 1/9/26 at 4:17 pm to Lonnie Utah
Sorry and I know these things factored into where you are today
a) you can’t go back in time/don’t know it will resolve like this
b) you had other things to worry about at the time
c) probably didn’t want to spend the money on lawyering up
Sucks situationally where you are now.
Seriously good luck & hope she gets better soon.
a) you can’t go back in time/don’t know it will resolve like this
b) you had other things to worry about at the time
c) probably didn’t want to spend the money on lawyering up
Sucks situationally where you are now.
Seriously good luck & hope she gets better soon.
Posted on 1/9/26 at 4:24 pm to soccerfüt
The good news is we're dealing with car insurance and not life insurance.
We're also in a good position because we still have enough operational vehicles for every driver in the family. While we'd obviously like to get the property claim resolved asap, we are not in a rush to accept a low ball offer. I'd also like to add we'd accept a fair offer, but one with such a glaring mistake is not fair
We're also in a good position because we still have enough operational vehicles for every driver in the family. While we'd obviously like to get the property claim resolved asap, we are not in a rush to accept a low ball offer. I'd also like to add we'd accept a fair offer, but one with such a glaring mistake is not fair
Posted on 1/9/26 at 4:25 pm to Lonnie Utah
_________________________________________________________
It could be that the comparables they were using were the “asking” prices. They know the asking price is not typically the sale price; and made an adjustment.
_________________________________________________________
The above is correct. Also, as you eluded to, mileage plays a big factor, as does overall condition of your specific vehicle. Vehicles for sales on a car lot are assumed to be mostly free of dents, dings, and would have a really clean interior. Your vehicle may not be free if those dents and dings, and it could also cause the value to drop in comparison to those other vehicles.
It could be that the comparables they were using were the “asking” prices. They know the asking price is not typically the sale price; and made an adjustment.
_________________________________________________________
The above is correct. Also, as you eluded to, mileage plays a big factor, as does overall condition of your specific vehicle. Vehicles for sales on a car lot are assumed to be mostly free of dents, dings, and would have a really clean interior. Your vehicle may not be free if those dents and dings, and it could also cause the value to drop in comparison to those other vehicles.
Posted on 1/9/26 at 4:27 pm to warm
quote:
Your vehicle may not be free if those dents and dings, and it could also cause the value to drop in comparison to those other vehicles
Our vehicle was basically new with approximately 1500 miles on it.
None of those adjustments were noted in their valuation report.
This post was edited on 1/9/26 at 4:29 pm
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