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re: OT Car Insurance Claim Question
Posted on 6/20/17 at 3:38 pm to MadDoggyStyle
Posted on 6/20/17 at 3:38 pm to MadDoggyStyle
I'm in an eerily similar spot, I was going to start a thread on the Money Talk thread, but never did.
My wife has a 2006 Commander that took some hail damage, so I filed a claim. They said it was a total loss, which was surprising to us. There's obvious damage, but it's only obvious at certain angles, you don't even really notice it unless you're actually looking for it.
They gave us 2 offers:
- Option A - $7600 check, and they pick up the Commander
- Option B - $4400 check($7600-$2800 salvage value) check and we can keep it
Going to roll with Option B likely and either keep it for a couple more years and save up, or just sell it out and take that amount plus the $4400 for a down payment on the next vehicle. Basically, if I can sell it for more than $3200, Option B is better, and I'm certain we'll get wayy more than $3200 for it.
My wife has a 2006 Commander that took some hail damage, so I filed a claim. They said it was a total loss, which was surprising to us. There's obvious damage, but it's only obvious at certain angles, you don't even really notice it unless you're actually looking for it.
They gave us 2 offers:
- Option A - $7600 check, and they pick up the Commander
- Option B - $4400 check($7600-$2800 salvage value) check and we can keep it
Going to roll with Option B likely and either keep it for a couple more years and save up, or just sell it out and take that amount plus the $4400 for a down payment on the next vehicle. Basically, if I can sell it for more than $3200, Option B is better, and I'm certain we'll get wayy more than $3200 for it.
This post was edited on 6/20/17 at 3:41 pm
2
Posted on 6/20/17 at 3:39 pm to weadjust
I just checked CarMax and almost every 2011 Elantra GLS starts at $11,000 with higher mileage. Used cars are expensive these days. Any way to haggle for more $ from the insurance co, based on used car values?
Posted on 6/20/17 at 3:41 pm to MadDoggyStyle
If you think the car is worth more than what they're offering provide them with as much documentation as you can showing why.
Posted on 6/20/17 at 3:42 pm to shel311
Yea hail damage is different IMO as the car is still 100% roadworthy and you don't have to repair it to keep driving it.
Posted on 6/20/17 at 3:44 pm to shel311
Hail is different than collision damage. Outside of glass damage the car can be driven with hail damage
Posted on 6/20/17 at 3:45 pm to Tiger Prawn
Ok, that makes sense to some degree, but if the salvage value is $7,000+, that still seems awfully high if you still have to put $7,200 into the car for repairs. I can't wrap my brain around that.
Posted on 6/20/17 at 3:46 pm to CaptainsWafer
Thanks Cap, glad you were on the OT today! 
Posted on 6/20/17 at 3:46 pm to MadDoggyStyle
Print out and show them the comparables. Checked the NADA retail value.
Then again an "asking" price on the internet is usually higher than what they will take as there is room to negotiate built into that asking price that is published.
Then again an "asking" price on the internet is usually higher than what they will take as there is room to negotiate built into that asking price that is published.
Posted on 6/20/17 at 3:46 pm to MadDoggyStyle
There's no way a $9000 car is still worth $7000 when the damage amount is in excess of $7200.
Posted on 6/20/17 at 3:47 pm to MadDoggyStyle
Insurance is in the business of ripping you off. They will screw your every time.
Posted on 6/20/17 at 3:51 pm to CaptainsWafer
I hear what you are saying, but one of the other posters seems to think the $7,000 salvage value may be right, which is what I think I was told by Allstate. I sure want you to be right.
Posted on 6/20/17 at 3:51 pm to CorkSoaker
quote:
Insurance is in the business of ripping you off. They will screw your every time.
Posted on 6/20/17 at 3:57 pm to CaptainsWafer
quote:Yep. We can easily drive it into the ground for a couple more years, or sell it and still get good value, obviously compared to a wrecked car.
Yea hail damage is different IMO as the car is still 100% roadworthy and you don't have to repair it to keep driving it.
Posted on 6/20/17 at 3:57 pm to MadDoggyStyle
if damages exceeds 75% of value, car must be totalled. Maybe fight the power on the valuation, which is frequently low.
Posted on 6/20/17 at 4:39 pm to CaptainsWafer
Talked to the adjuster and Cap was right. The salvage value is $1400 and the payoff to me is $7000.
So, here is my dilemma. They are valuing the vehicle based on $9,400.00 NADA value but when I go online and look for this particular vehicle on the retail market it shows starting retail value at $11,000+. When I mention this to the adjuster he starts getting into tread depth and dirty carpet. How do I get them to give me what the payoff of what it would cost to buy this same used vehicle? I used CarMax as my resource and got prices from all over the SouthEast. Advice?
So, here is my dilemma. They are valuing the vehicle based on $9,400.00 NADA value but when I go online and look for this particular vehicle on the retail market it shows starting retail value at $11,000+. When I mention this to the adjuster he starts getting into tread depth and dirty carpet. How do I get them to give me what the payoff of what it would cost to buy this same used vehicle? I used CarMax as my resource and got prices from all over the SouthEast. Advice?
This post was edited on 6/20/17 at 4:43 pm
Posted on 6/20/17 at 4:51 pm to MadDoggyStyle
Where you located.
Comparable car in Hattiesburg
2014 in Covington for about 9 grand
And that's just a quick search on google
Comparable car in Hattiesburg
2014 in Covington for about 9 grand
And that's just a quick search on google
Posted on 6/20/17 at 5:05 pm to mdomingue
That first car appears to have been wrecked. Can't see if title is rebuilt or not
The first was a fleet car and the second was a rental.
The first was a fleet car and the second was a rental.
This post was edited on 6/20/17 at 5:06 pm
Posted on 6/20/17 at 5:36 pm to MadDoggyStyle
Did the adjuster add sales tax?
Posted on 6/20/17 at 5:45 pm to MadDoggyStyle
Just a quick search, there were lots of others. Location would help narrow it down. Just looking at price points and milage in the general ballpark
Posted on 6/20/17 at 5:57 pm to MadDoggyStyle
Did another search on carguru. centered it on Lafayette, hide fleet vehicles, vehicles with reported wrecks, and salvage titles. limitted to 2010 and newer, $10,000 or less, and 100,00 miles or less. Should give you some ballpark ideas about your options. Good luck with the search.
CarGuru.com search
CarGuru.com search
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