So my car has officially been totaled. My insurance company gave me a number for my cars Value. 10,677 is what they want to give me, The trade in value is $7500 and the Retail Value is 12,405. Still I am am hoping that I can get them to give me 11,500. I have seen my car for sale at dealerships for 11,847 to 13,599. I will send them in to try and make my case. At the same time I was wondering if any of you had experience with this. WWYD Settle or go for more

TIA
Kimberly

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Kimberly Proud Mommy to Bethany Rose April 2006

I say, give it a try but truthfully, I don't think they will go by dealership prices ... unless, of course, it is in their favor.

Although this was many years ago, I had a truck stolen and not recovered. My insurance co settled.

The figure they first offered me was way low IMO. My truck wasn't "new", but I had added some new items on my vehicle (upgraded rims/tires, etc.), my mileage was very low and my truck we well-maintained. I felt that my vehicle was worth much more than the low-ball figure they were offering.

It took some haggling, but with pictures of my truck and receipts (including service receipts showing mileage), I was able to get what we were wanting as a settlement. That final figure was within the KBB figures for a vehicle with low mileage and in top condition. What they had offered was below the low range of KBB. I made sure I presented an amount that wasn't exaggerated or out of range.

I know this is different circumstances (i.e. stolen vs wrecked), but I say go ahead and try to negotiate. Do your homework and research comparative values, even taking pics of similar vehicles/condition if you have to.

You may not be successful, but you will never know that unless you try.

Good luck!

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SAHM of 4

August food budget (groceries/take-out): $500.00/$75.00
Total spent: $238.97/$14.12

July budget/spent: $500.00/$650.00

A co-worker is dealing with the same issue right now. Do not settle at the first number they throw at you. He has talked them up $1500 with reasoning (couldn't buy the same car for the amount they offered) and receipts (including the gas receipt since he had just filled up right before the accident. The worst they can do and say they won't go up. Good luck!

I have had a great deal of experience dealing with insurance companies for my clients.

NEVER take the first number you are given. Instead go at them with representative samples of what a vehicle similar to yours is sold at near you by individuals NOT dealers. Look in the Auto Trader or similar publication. Then you can say there are 10 other Honda Civics (for example) that are similar to mine and the average asking price is $x. It is more representative of the fair market value. Also you can look at KBB and such and get the private sale, not retail, price. I have gotten insurance companies to come up thousands of dollars by giving them some additional information.

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Grace

Wife to Stoney

Mommy of Sarah (8.5), Hannah (7), and John(5)

You can certainly try, it can't hurt. The insurance companies do use a formula to come up with what they offer people on totaled vehicles. It's calculated by not only the type of vehicle, but the mileage, it's condition etc You can't really compare what they're offering by what a dealership is offering because it's not necessarily comparing apples to apples.

My brother is an insurance claims agent. Never take the first number they offer.

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"I've been rich and I've been poor but independently wealthy is where it is at."

I agree. When a lady totaled my car, we found she had the same insurance company I had. When they were trying to settle with me, they gave me a low figure, and stated that I had rust on my door showing that it had previous damage. It was NOT true. The rust was from the period of time it took them to evaluate it. My car had been in pristine order. It was my first real dealing with such a situation and I learned to be persistent with them. Their goal is to save money, yes, but also to close their claim file on you. Open claims go against their record. So it is worth it to try.

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Make someone's heart smile today.

I agree. My DH was in a car accident back in April that totaled his truck. The first offer they gave him wasnt acceptable. He negotiated and ended up getting about $2000 more.

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When you have a dream, you've got to grab it and never let go.
Carol Burnett

Thanks I will keep trying for a little higher. I got them to go up $400 so maybe I can get them to go up again. My problem is finding comparable cars I had a 2001 Forester with lower mileage so I am only finding cars in classifieds with much higher milage then mine or a different body style and they are not accepting cars that I found in neighboring states

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Kimberly Proud Mommy to Bethany Rose April 2006