What is the best way to negotiate the compensation of a totalled car with the insurance company?

Question

I got into an accident last week. My Honda Civic is a total loss after the collision. The person who collided with my car is at fault. Knowing how insurance companies like to lowball people, I expect that they would offer a low price for compensation. Is it possible to negotiate the compensation? Any good tips with negotiating?

Just to add, the car has low mileage (50,000 km for a 9 year car) and looks pretty much brand new prior to the accident. That's why it would be a shame if I get only a small compensation for it.

Answer 1

Generally, they are going to give you blue book and then plus or minus for upgrades or pre existing damage.

You can get credit for new tires, new wheels, a new radio such as XM...you get the idea. Now if there were dings and dents that preexisted the accident and they can prove it, they can try to lowball you. If you have repair records that show that you upgraded, keep them and present them to the insurance company.

Answer 2

An insurance company pays out the actual cash value of the vehicle, and most use a form of NADA ( not available to the regular consumer). However, this value is usually close to a Kelley Blue Book private party value. Let them give you what they feel is a good offer, and if you don't agree, give them your figure and work from there. Be ready with documentation or some type of proof to show why you feel that way. I think you may be surprised at the value the insurance company gives you. Just keep in mind, they have to settle for actual cash value, not resale or market value. An insurance company is only required to make you "whole" not better than what you were previously. I hope this helps- Thanks- Lori

Answer 3

In working with insurance companies, i found if you press hard enough on them they will eventually cave. Depending upon how much coverage you had and whose fault the accident was. If you had full coverage, and it was at no fault of yours you can press your insurance to fully pay off the debt and go after the faults insurance. You have to be stern and up front with them and get your point accross in a patient matter. If the accident was no fault upon you, and the person at falt had no insurance you will have to seek legal help in the matter. Sometimes, you come out with nothing but you never know, its always a shot worth trying, the insurance and laywers are there to help. If you owe more than your car is worth press for the company to pay it off! I had statefarm 7 years ago and i was in a like situation and they paid my car off and collected from the others insurance the only brutal truth was it took 2 years to complete. hope i was some help for you.

Answer 4

They have a "Bluebook" that only the Insurance agencies use get a copy of the Bluebook that your dealer uses or the one for the general public use .
good luck

you can try getting one from California (not on internet) they often price thiers higher

Lori; What is actual value if not resale or market value?

Answer 5

idemnify means to make whole again, restore etc. They will only give you what it would cost to replace the car. and be careful cars like civic and accords, usually all japan makes have a lower blue book but are higher cost to replace. Look for some cars in your area on sale and keep the ads handy to show them, becuase after all you have to replace your car.

Answer 6

maximum probable they like to finished the motor vehicle because of the fact the fee to restoration it incredibly is a minimum of 50% of the veh fee. So in the event that they finished it they might pay you incredibly funds fee for the veh. does not recommend that's the amt you nonetheless owe on it. additionally they're going to soak as much as account how plenty they are able to get in the event that they sell it to a salvage backyard, and which will used in the completed they arise with to pay you. the choose additionally take depreciation off the veh if the interior is broken, or raggedy. you have the choice to maintain the veh, and that they're going to ded the salvage fee from what they pay you.. So occasion they like to pay you 2000 for the veh, yet you % to maintain it.. they're going to take salvage fee off, meaning what they might get from salvage backyard. So we could say they'd get a 1000 for it.. they might purely pay you a grand. Now in case you have hollow insurance on the coverage they might pay off regardless of you owe on the veh directly to the lienholder, yet you will possibly nonetheless be out. suitable be is that if the wear isn't that undesirable, finished it, get it fastened someplace, and then sell it.. If that's an determination. yet you legally cant lead them to restoration it. There purely required to hold your veh lower back to the state it replaced into in earlier the twist of destiny, and not something extra.. right here's a extra perfect def of what it ability.... what's a finished Loss? oftentimes, we declare your motor vehicle a finished loss whilst the fee to return the motor vehicle to pre-twist of destiny condition may well be as plenty–or extra–than the relatively funds fee of the motor vehicle. occasion A Your motor vehicle's relatively funds fee: $10,000 fee to repair: $3,000 difference: $7,000 No, this does not be a finished loss, because of the fact the fee to repair is below the motor vehicle's relatively funds fee. occasion B Your motor vehicle's relatively funds fee: $3,000 fee to repair: $4,000 difference: $a million,000 particular, this may well be a finished loss, because of the fact the fee to repair is larger than the motor vehicle's relatively funds fee. We may additionally declare your motor vehicle a finished loss whilst the restoration fee, plus the salvage fee (money we would recoup whilst advertising your motor vehicle with the aid of a qualified salvage broking) exceeds the motor vehicle's relatively funds fee, or if state policies warrant it

Answer 7

They go by bluebook value. Low mileage,fresh paint job, new tires, whatever, . matter so little. Lots of luck, and welcome to the club.