|
Post by The Walk of the Penguin Mich on Apr 11, 2018 19:34:13 GMT -5
My sister had an accident a few weeks ago, and did about $6400 damage to her car (about $3000 of this is the side airbag). The accident was determined to be her fault.
The insurance company called her last week and said that they are going to fix her car. According to them, they would total if the value if the repair was greater than 75% of the car value. That was close, but some preliminary looking I did, it was close.
She got a call this week telling her that they were going to total out her car. The offer she got was $200 more than what it would cost to fix. It is a low-ball offer by at least 25%. She printed out some vehicles similar to her’s (model, mileage and options) and sent them to them, but they weren’t going to change their mind. It’s a difference of about $2000, which is nothing to sneeze at.
Is there anything she can do about this?
|
|
Deleted
Joined: May 19, 2024 5:19:22 GMT -5
Posts: 0
|
Post by Deleted on Apr 12, 2018 8:07:11 GMT -5
If she truly thinks she's being lowballed she can always invoke the name of the Insurance Commissioner and threaten to file a complaint. There's a list with contact info here. www.naic.org/documents/members_membershiplist.pdf?895State Insurance Departments track complaint rates among insurers so the insurance companies pay attention to them. If the insurance company still won't budge, maybe it's a fair offer. DS used to settle auto claims and he told me that different companies use different software to value totalled cars. Whatever source your sister is using may not be as reliable for that area. (Or maybe their source is unrealistic; DS said some systems produced numbers that didn't make sense for a particular case.) Wow- $3,000 for a side airbag. I remember the debate years ago about the cost of adding airbags to cars. They said it would add $1,250 to the cost. That number didn't budge for at least 5 years of discussions. Even with inflation, $3,000 for ONE airbag shows that the auto manufacturers have found themselves another profit center,
|
|
Wisconsin Beth
Distinguished Associate
No, we don't walk away. But when we're holding on to something precious, we run.
Joined: Dec 20, 2010 11:59:36 GMT -5
Posts: 30,626
|
Post by Wisconsin Beth on Apr 12, 2018 8:25:13 GMT -5
How clean was the car? Tires newish?
When I totaled DH's car about 4 years ago, the insurance guy bumped up the value to include the tires which were maybe 6 months old. There was subtext about how we were clearly taking care of the car involved. I think we must have cleaned it shortly before that because there wasn't much stuff in the car at all when we went to get the license plates and any stuff. Oh and the car seats - I had called and they told me to ditch them after giving them the serial numbers. But that was a separate check.
|
|
bean29
Junior Associate
Joined: Dec 19, 2010 22:26:57 GMT -5
Posts: 9,971
|
Post by bean29 on Apr 12, 2018 9:22:00 GMT -5
My Son totaled a Scion XB a few years ago. it was a decent car, nice room, decent handling on the freeway, but low clearance. It started as FIL's car, he had issues with it getting stuck in messy alleys in the winter. So DS got it when he was in HS. He took it to college, and eventually totaled it. Before he totaled it, DH had been planning to sell it.
When DH got the Settlement offer from the insurance company and told me the amount, I thought it was low, but DH said Bean this is a really good offer. I was going to sell the car, and I would not have gotten this much for it. I asked him if they included sales tax in it, he said yes. I asked him the mileage, and checked Kelly, NADA etc, and decided DH was right.
I think a big question is what are similar cars selling for - could she go out and buy the same car for what they offered her? I would check more than one pricing guide, sometimes there is quite a bit of difference from one to another. I used to like NADA, but it has been quite awhile since we bought or sold a car.
|
|
TheHaitian
Senior Associate
Joined: Jul 27, 2014 19:39:10 GMT -5
Posts: 10,144
|
Post by TheHaitian on Apr 12, 2018 10:02:53 GMT -5
I just totaled my wife car on Monday, I will let you know !
|
|
busymom
Distinguished Associate
Why is the rum always gone? Oh...that's why.
Joined: Dec 25, 2010 21:09:36 GMT -5
Posts: 28,464
Mini-Profile Background: {"image":"https://cdn.nickpic.host/images/IPauJ5.jpg","color":""}
Mini-Profile Name Color: 0D317F
Mini-Profile Text Color: 0D317F
|
Post by busymom on Apr 12, 2018 10:21:59 GMT -5
I just totaled my wife car on Monday, I will let you know ! Oh no! The Mini Cooper? (Are you o.k.? And, how is she taking it?)
|
|
HoneyBBQ
Junior Associate
Joined: Dec 27, 2010 10:36:09 GMT -5
Posts: 5,395
Mini-Profile Background: {"image":"","color":"3b444e"}
|
Post by HoneyBBQ on Apr 12, 2018 10:35:19 GMT -5
I just totaled my wife car on Monday, I will let you know ! You ok?
|
|
|
Post by The Walk of the Penguin Mich on Apr 12, 2018 11:36:17 GMT -5
My Son totaled a Scion XB a few years ago. it was a decent car, nice room, decent handling on the freeway, but low clearance. It started as FIL's car, he had issues with it getting stuck in messy alleys in the winter. So DS got it when he was in HS. He took it to college, and eventually totaled it. Before he totaled it, DH had been planning to sell it.
When DH got the Settlement offer from the insurance company and told me the amount, I thought it was low, but DH said Bean this is a really good offer. I was going to sell the car, and I would not have gotten this much for it. I asked him if they included sales tax in it, he said yes. I asked him the mileage, and checked Kelly, NADA etc, and decided DH was right.
I think a big question is what are similar cars selling for - could she go out and buy the same car for what they offered her? I would check more than one pricing guide, sometimes there is quite a bit of difference from one to another. I used to like NADA, but it has been quite awhile since we bought or sold a car. Similar cars are being sold around her zip code for about $2000 more than what they offered her. It looks like the offer is what she’d get if the car had a salvage title. It doesn’t. She could not find her exact car for what they are offering. This isnt per the pricing guide, but by local car sales. Her car has 130k miles on it, which is a lot for a 2012. One of the insurance company’s ‘similar sales’ had the exact same car, 25k less miles for $9200. She got dinged $$2600 for those miles. Another car that was the same model, same miles put a premium of $2500 for a car with upgraded features. I realize that both do drive up the value....but not that much.
|
|
bean29
Junior Associate
Joined: Dec 19, 2010 22:26:57 GMT -5
Posts: 9,971
|
Post by bean29 on Apr 12, 2018 11:43:23 GMT -5
My Son totaled a Scion XB a few years ago. it was a decent car, nice room, decent handling on the freeway, but low clearance. It started as FIL's car, he had issues with it getting stuck in messy alleys in the winter. So DS got it when he was in HS. He took it to college, and eventually totaled it. Before he totaled it, DH had been planning to sell it.
When DH got the Settlement offer from the insurance company and told me the amount, I thought it was low, but DH said Bean this is a really good offer. I was going to sell the car, and I would not have gotten this much for it. I asked him if they included sales tax in it, he said yes. I asked him the mileage, and checked Kelly, NADA etc, and decided DH was right.
I think a big question is what are similar cars selling for - could she go out and buy the same car for what they offered her? I would check more than one pricing guide, sometimes there is quite a bit of difference from one to another. I used to like NADA, but it has been quite awhile since we bought or sold a car. Similar cars are being sold around her zip code for about $2000 more than what they offered her. It looks like the offer is what she’d get if the car had a salvage title. It doesn’t. She could not find her exact car for what they are offering. This isnt per the pricing guide, but by local car sales. Her car has 130k miles on it, which is a lot for a 2012. One of the insurance company’s ‘similar sales’ had the exact same car, 25k less miles for $9200. She got dinged $$2600 for those miles. Another car that was the same model, same miles put a premium of $2500 for a car with upgraded features. I realize that both do drive up the value....but not that much. idk, doesn't that come out to about .10/mile?
here are the irs mileage rates for 2018:
www.irs.gov/newsroom/standard-mileage-rates-for-2018-up-from-rates-for-2017
I go to my credit union to get access to NADA car guides. I didn't think I had enough info on your sister's car to plug it in, so I used my 2012 CRV. I also have about 130,000 miles. They show an adjustment of $1,325 for 130,000 miles. They also show my "rear entertainment system" adding $500 in value to my car. I will take it, but imho, that is worth 0. I am not Shopping for a car RN, so they say my car is worth $11,775 as a Trade or $14,450 at Retail. We are going to shift family cars around if we buy a new car. Right now, we would sell DS's Accord, give him my CRV, I would Drive DH's Santa Fe and DH will get a new car. We hope to put that off for at least a year.
Like your DS and the Haitian, if someone wrecks a car, we will have to come up with an alternate plan.
|
|
TheHaitian
Senior Associate
Joined: Jul 27, 2014 19:39:10 GMT -5
Posts: 10,144
|
Post by TheHaitian on Apr 12, 2018 12:41:33 GMT -5
I just totaled my wife car on Monday, I will let you know ! Oh no! The Mini Cooper? (Are you o.k.? And, how is she taking it?) I am ok and wife is not taking it well... she cried. The goal/hope for me is when we replace her car in 2 years to let her have another mini since I will have the family car.
|
|
TheHaitian
Senior Associate
Joined: Jul 27, 2014 19:39:10 GMT -5
Posts: 10,144
|
Post by TheHaitian on Apr 12, 2018 12:41:47 GMT -5
I just totaled my wife car on Monday, I will let you know ! You ok? I am ok!
|
|
bean29
Junior Associate
Joined: Dec 19, 2010 22:26:57 GMT -5
Posts: 9,971
|
Post by bean29 on Apr 12, 2018 12:51:12 GMT -5
Oh no! The Mini Cooper? (Are you o.k.? And, how is she taking it?) I am ok and wife is not taking it well... she cried. The goal/hope for me is when we replace her car in 2 years to let her have another mini since I will have the family car. Do you have another car? You are going to wait 2 years to replace it even though you totaled it?
Glad you are OK.
|
|
Deleted
Joined: May 19, 2024 5:19:22 GMT -5
Posts: 0
|
Post by Deleted on Apr 12, 2018 12:55:40 GMT -5
I am ok and wife is not taking it well... she cried. The goal/hope for me is when we replace her car in 2 years to let her have another mini since I will have the family car. Do you have another car? You are going to wait 2 years to replace it even though you totaled it?
Glad you are OK.
They don't have ANY car now, since they were sharing the mini. I think he means they'll get a second car in a couple years, but right now they need to replace this one.
|
|
TheHaitian
Senior Associate
Joined: Jul 27, 2014 19:39:10 GMT -5
Posts: 10,144
|
Post by TheHaitian on Apr 12, 2018 13:11:09 GMT -5
Do you have another car? You are going to wait 2 years to replace it even though you totaled it?
Glad you are OK.
They don't have ANY car now, since they were sharing the mini. I think he means they'll get a second car in a couple years, but right now they need to replace this one. Basically this!!! We have been a one car family going on 2 years now and I have been looking at replacing my car for the past 6 months just could not pull the trigger. Then her job decided to have this big expansion / closing parking lots for it which has limited the amount of parking space available and they are not giving out any more parking spots ... and construction is for another 2 years or so. So it made no sense for me to get another car since my wife could not use her car anyway because of the parking situation at work, so the goal was to keep on being a 1 car family till then. Now that I totaled her car we have no cars. So going to have to replace it with a car in the meantime that will be the family car and in ~2 years when construction is done at the college and she can get a parking pass, we will then replace her car. I hope by then we can replace it with another mini of her choosing since I will have what will be considered the “family” car.
|
|
NomoreDramaQ1015
Community Leader
Joined: Dec 20, 2010 14:26:32 GMT -5
Posts: 47,332
|
Post by NomoreDramaQ1015 on Apr 12, 2018 13:13:13 GMT -5
Then her job decided to have this big expansion / closing parking lots for it which has limited the amount of parking space available and they are not giving out any more parking spots ... and construction is for another 2 years or so.
What is it with universities and parking. Ours is the same way. If they get rid of the lot I am in now eventually I'll be paying to park in my driveway across the river. Sadly no one wants their name on parking garage.
|
|
|
Post by The Walk of the Penguin Mich on Apr 12, 2018 13:30:21 GMT -5
Then her job decided to have this big expansion / closing parking lots for it which has limited the amount of parking space available and they are not giving out any more parking spots ... and construction is for another 2 years or so.
What is it with universities and parking. Ours is the same way. If they get rid of the lot I am in now eventually I'll be paying to park in my driveway across the river. Sadly no one wants their name on parking garage. Clueless. In TX they took over the visitor parking lot to build a parking garage. While it was being built, they paved over some sports fields waaaay at the end of the campus to provide more parking. I could not afford to park in the garage (even though those who could had their own space - which meant we always asked the guy who had parking here to drive us to lunch). In KY, they sell roughly 3 parking tags for every parking space and in the ENTIRE medical center, there are a whopping 12 handicapped spots for employees.
|
|
NomoreDramaQ1015
Community Leader
Joined: Dec 20, 2010 14:26:32 GMT -5
Posts: 47,332
|
Post by NomoreDramaQ1015 on Apr 12, 2018 13:35:15 GMT -5
They over sell tags compared to spaces here too, they don't give a crap. I don't think we even have twelve handicap spots for employees. Yet we have many spots devoted zip cars that sit empty every day.
|
|
chapeau
Well-Known Member
Joined: Jan 17, 2013 10:50:04 GMT -5
Posts: 1,649
|
Post by chapeau on Apr 12, 2018 17:52:21 GMT -5
I hope none of my former coworkers are on here. Many years ago, my former boss stopped by our office on a Saturday. Driving up the hill, he saw the president of the university on his hands and knees in one of the smaller parking lots. Since the prez was in his 70s, my boss assumed that he’d fallen, and rushed over to see if he was ok. He was fine. He was measuring the spots. If they made each spot 2 inches smaller, he could fit 2 more cars in that lot. He was trying to figure out how many more spots he could get on the whole campus. I once crawled out of my hatchback through the hatch while I worked there because I couldn’t squeeze out the door. More than once I Dukes of Hazzarded out the window for the same reason.
|
|
alabamagal
Junior Associate
Joined: Dec 23, 2010 11:30:29 GMT -5
Posts: 8,121
|
Post by alabamagal on Apr 12, 2018 19:04:47 GMT -5
Talk to claims or the adjuster and find out what is making the value low. If it is mileage, that is pretty definite and probably some calculation. I thankfully haven’t had many cars totaled. Here is what I was able to do
With my car that DS was driving they first subtracted my deductible. I told them the accident was 0% DS fault ( he was stopped at a red light) so at fault driver should pay deductible. That got me $1k.
Many years ago our Honda Odyssey was totaled. It was when they had captains chairs in 2nd row and we would often remove one seat. When it was assessed they took off $700 for a “missing” seat. They said I could bring the seat and they would add $700. But they had towed the car to a big city 3 hours away. I called insurance and said I would gladly bring the seat anywhere local, but they were the one who took it somewhere else. I got my $700 and they never got the seat. I sold to a junk dealer for $50.
|
|
|
Post by The Walk of the Penguin Mich on Apr 13, 2018 11:45:12 GMT -5
At this point, I’m washing my hands of my sister’s problems. I sent her the link that Athena posted earlier, and told her the ball is in her court if she wants to fight this. I think she should, that she has a case but she hasn’t taken my advice about anything else (and wonders why things turn to shit).
Now she is on the car hunt, and she wants a Nissan Rogue. She can’t afford it, so I wonder what she is going to do and hope that she doesn’t do something stupid. This is her circus and monkeys, not going there.
|
|
NomoreDramaQ1015
Community Leader
Joined: Dec 20, 2010 14:26:32 GMT -5
Posts: 47,332
|
Post by NomoreDramaQ1015 on Apr 13, 2018 11:51:36 GMT -5
Has she bothered to read her policy? My dad was able to challenge the price when they totaled my 2015 Impala because he took the time to read the policy. They were violating their own terms with their offer.
I am fairly convinced insurance companies are counting on you not reading the mountain of paperwork that comes with your policy. If you don't know what it is in it then how can you know if they are screwing you over?
|
|
|
Post by The Walk of the Penguin Mich on Apr 13, 2018 12:08:41 GMT -5
Has she bothered to read her policy? My dad was able to challenge the price when they totaled my 2015 Impala because he took the time to read the policy. They were violating their own terms with their offer. I am fairly convinced insurance companies are counting on you not reading the mountain of paperwork that comes with your policy. If you don't know what it is in it then how can you know if they are screwing you over? Probably not. I think I told her to do so in the first call (where she hung up on me). I know that when I was dealing with my med insurance during my nightmare, I read my policy from cover to cover to make sure I knew my rights. My appeals were based on that... and I usually won.
|
|
andi9899
Distinguished Associate
Joined: Dec 6, 2011 10:22:29 GMT -5
Posts: 30,460
|
Post by andi9899 on Apr 13, 2018 12:16:41 GMT -5
My Son totaled a Scion XB a few years ago. it was a decent car, nice room, decent handling on the freeway, but low clearance. It started as FIL's car, he had issues with it getting stuck in messy alleys in the winter. So DS got it when he was in HS. He took it to college, and eventually totaled it. Before he totaled it, DH had been planning to sell it.
When DH got the Settlement offer from the insurance company and told me the amount, I thought it was low, but DH said Bean this is a really good offer. I was going to sell the car, and I would not have gotten this much for it. I asked him if they included sales tax in it, he said yes. I asked him the mileage, and checked Kelly, NADA etc, and decided DH was right.
I think a big question is what are similar cars selling for - could she go out and buy the same car for what they offered her? I would check more than one pricing guide, sometimes there is quite a bit of difference from one to another. I used to like NADA, but it has been quite awhile since we bought or sold a car. Similar cars are being sold around her zip code for about $2000 more than what they offered her. It looks like the offer is what she’d get if the car had a salvage title. It doesn’t. She could not find her exact car for what they are offering. This isnt per the pricing guide, but by local car sales. Her car has 130k miles on it, which is a lot for a 2012. One of the insurance company’s ‘similar sales’ had the exact same car, 25k less miles for $9200. She got dinged $$2600 for those miles. Another car that was the same model, same miles put a premium of $2500 for a car with upgraded features. I realize that both do drive up the value....but not that much. Are you sure she's not confusing their offer with the salvage value? Usually they give you one offer to keep the car at salvage and a higher offer if they retain the car. The insured then picks one and they pay accordingly.
|
|
|
Post by The Walk of the Penguin Mich on Apr 13, 2018 12:27:14 GMT -5
Do you mean they offer her the money, she fixes the car and gets to keep it but with a salvage title? Good question. It didn’t sound like it, but I have discovered that my sister really does lack financial acuity.
I originally thought it was mostly her ex, but she was most definitely complicit in some of the stupid stuff they did.
|
|
TheHaitian
Senior Associate
Joined: Jul 27, 2014 19:39:10 GMT -5
Posts: 10,144
|
Post by TheHaitian on Apr 19, 2018 8:07:42 GMT -5
Sorry a bit late posting here.
I did some research and trade in I was quoted online was $8,500-$9,000 For the car while similar car was selling at about $12,000-$13,000.
So we were expecting about ~$10,000 or something along the lines.
Final # is $14,379.32 They take out $1,000 deductible —————————
So we are getting a check for $13,379.32
Plus a separate check to replace the car seat ( I already bought a new one, sent them the receipt).
ETA: it was a 2013 Mini Cooper countryman with 45,000 miles on it
|
|
andi9899
Distinguished Associate
Joined: Dec 6, 2011 10:22:29 GMT -5
Posts: 30,460
|
Post by andi9899 on Apr 19, 2018 8:21:54 GMT -5
Do you mean they offer her the money, she fixes the car and gets to keep it but with a salvage title? Good question. It didn’t sound like it, but I have discovered that my sister really does lack financial acuity. I originally thought it was mostly her ex, but she was most definitely complicit in some of the stupid stuff they did. Yes. Usually they offer a lower amount if you keep the car and you retitle it as salvage. Then they offer you a higher amount if they retain the car. She may just be fixated on the lower amount and complaining about that.
|
|
|
Post by The Walk of the Penguin Mich on Apr 19, 2018 15:55:18 GMT -5
Do you mean they offer her the money, she fixes the car and gets to keep it but with a salvage title? Good question. It didn’t sound like it, but I have discovered that my sister really does lack financial acuity. I originally thought it was mostly her ex, but she was most definitely complicit in some of the stupid stuff they did. Yes. Usually they offer a lower amount if you keep the car and you retitle it as salvage. Then they offer you a higher amount if they retain the car. She may just be fixated on the lower amount and complaining about that. This is all a moot point, my sister did what she wanted. At this point, I quit trying to help. My only fear is that 15 years from now, she'll be living in my basement.
|
|
zibazinski
Community Leader
Joined: Dec 24, 2010 16:12:50 GMT -5
Posts: 47,869
|
Post by zibazinski on Apr 20, 2018 5:50:23 GMT -5
Yes. Usually they offer a lower amount if you keep the car and you retitle it as salvage. Then they offer you a higher amount if they retain the car. She may just be fixated on the lower amount and complaining about that. This is all a moot point, my sister did what she wanted. At this point, I quit trying to help. My only fear is that 15 years from now, she'll be living in my basement. Move to a house with no basement.
|
|
chapeau
Well-Known Member
Joined: Jan 17, 2013 10:50:04 GMT -5
Posts: 1,649
|
Post by chapeau on Apr 20, 2018 6:31:23 GMT -5
Yes. Usually they offer a lower amount if you keep the car and you retitle it as salvage. Then they offer you a higher amount if they retain the car. She may just be fixated on the lower amount and complaining about that. This is all a moot point, my sister did what she wanted. At this point, I quit trying to help. My only fear is that 15 years from now, she'll be living in my basement. Move and leave no forwarding address?
|
|
zibazinski
Community Leader
Joined: Dec 24, 2010 16:12:50 GMT -5
Posts: 47,869
|
Post by zibazinski on Apr 20, 2018 7:10:26 GMT -5
We knew people who moved to a one bedroom two bathroom condo to avoid that and orher situations they didnt want to deal with. Including their kids coming home with their kids!
|
|