Hey all, My 2007 Volvo S60 was totaled this weekend. The other driver was at fault and his insurance company is taking full liability. What can I do to make sure the insurance company doesn't screw me over? I believe I checked KBB and found the value of my car was 16-19k. I still owe about 9k on the car.
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My car was totaled, but it was my fault. My ins. co (statefarm) used the NADA retail value and cut me a check...very surprised/happy... I actually did research everywhere and was prepared to argue, but didn't have to...I used KBB, edmunds, cars.com, etc.
Thanks. I need to look into some of the other valuation services like edmunds, cars.com, etc. like you.
That's because State Farm is always like that. They've treated me extremely well. Probably the reason why my family has been with them for 30 years. They did the same for me when my 1995 Ranger was totaled back in 2002. I was lucky the people that hit me also had SF. They gave me $5000 for a truck that was 7 years old and had 120,000 miles on it. I wasn't injured or anything.
Are you 100% positive they paid off of NADA? I know State Farm's PD manager here in Houston and I have never heard of them doing that.
From my experience in listening to claim situations, to get the high end of the settlement you need to provide proof that the car was in excellent condition ie receipts of work done, maintenence, and proof of any extras or things you added so that you don't get low balled. There are outlyers to the situation so don't settle for the going rate of average if you car was better than the average.
fax them any receipts of recent work done like new tires, breaks, etc. Also, after market parts if any that were damaged. Other than that they go by KBB value as well so you may have to fight with them as far as the condition of the car if they deem it not in excellent condition and it was.
Yeah, ok, I should be able to find the all of the maintenance receipts. I also dropped 800 on new tires two months ago!
I totaled my GTI 2 yrs ago. I was at fault, and my insurance company didn't sweat me at all. My car was valued at 18k with 14k in damage and they paid it off completely and I still had $1200 left over. After paying about 11k in insurance the 2.5 yrs I had the car, I was definitely glad they took care of me. You'll be fine bro.
Absolutely...My lexus was 10 years old, 150,000 and got paid top dollar...I was expecting a heck of lot less, and was ready to argue...
I had to do exactly what Classic and MIAGI99 said above - back in 2005 when my car was totaled. It was the other person's fault, and their insurance company was trying to lowball us. Provided receipts/documentation of new tires and work that was done on car. Ended up getting a fair price for the car, a bit higher than KBB value.
Hey dave - yeah those rocket suite parties were awesome, need to head out to some again. unfortunately, law school keeps me from doing things like that...just a couple more years. The total loss representative gave me an actual cash value of 17k and about 1200 in sales tax and incidentals for a total of 18200. I e-mailed her back the kbb, nada, edmunds, and a local example. I told her think I should get atleast 19k + the sales tax and what not to push me over 20k total needed to buy a similar vehicle. Thank you all for the suggestions. Hmmm...I'm thinking I should have asked for more, perhaps 19.5 or 20k, because we'll probably negotiate and meet somewhere in the middle.
