Total Loss - Insurance Tips?

[ylwjacket]

They made an initial offer - man, that was fast. Crash was Sunday, car towed Monday, determined to be a total loss on Tuesday, and offer on Weds.

They called me, though, and said they weren't sure of the mileage, and asked if I had any documentation of it. I did, in the form of receipts for repair work.

At that time, I mentioned all of the work that I had done, and asked them to consider it. They asked that I assemble and submit whatever documentation I had, which I did.

I asked them to consider a condition upgrade based upon all of the work that has been completed. They advised that they'd look at it, and get back to me early next week.

I have receipts for every repair I've had done, plus all of the parts that I've bought, so I sent them a pretty big package of documentation.

So, I should if providing all of that documentation warrants an upgrade.

[ylwjacket]

Just wanted to add that, so far at least, State Farm has been great to work with on this issue. We'll see how it resolves, but it's been a positive start to a really bad situation.

[sunny5280]

I believe your documentation will be very helpful in supporting your ask of a higher value for the vehicle. I'm very interested in hearing how this turns out for you.

[ylwjacket]

Originally Posted by sunny5280

I believe your documentation will be very helpful in supporting your ask of a higher value for the vehicle. I'm very interested in hearing how this turns out for you.

Will let you know. Hope to have a revised offer this week.

[edogg]

Look for someone local to help you assess the value. There should be some "diminished value" estimators who can help establish how much to request. I found mine by calling around to body shops. Expect to pay $400ish for a good one.


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[sunny5280]

Originally Posted by edogg

Look for someone local to help you assess the value. There should be some "diminished value" estimators who can help establish how much to request. I found mine by calling around to body shops. Expect to pay $400ish for a good one.

IMO this vehicle is too old for a diminished value claim.

[ylwjacket]

There's no diminished value, because the car is now sitting in a salvage yard.

My only hope was to move the needle a bit on the condition assessment. We'll see how it plays out.

[sunny5280]

Originally Posted by ylwjacket

There's no diminished value, because the car is now sitting in a salvage yard.

My only hope was to move the needle a bit on the condition assessment. We'll see how it plays out.

That's true however my comment was intended to convey a vehicle of this age would likely not qualify for a diminished value claim.

[sunny5280]

OP...any update on this?

[ylwjacket]

Well, they said their first offer was based upon "mileage unknown", and an assumed mileage of 150k. With miles being 170k, they deducted $1k from the value. They added back in around $500 for new battery and tires.

So, current offer is $500 less than initial offer.

I am going to pull some comps and submit. They gave me exactly $0 for everything else I did.