Is 1st settlement offer fair?

[amrooz]

What is the name of your state? Kentucky.

My wife was involved in a car accident in which she was not at fault. The other driver's insurance totalled our car and offered to pay us 3400$ for a Mitsubish Mirage DE 2000 with 130000 miles. The Kelley blue book suggested that the suggested retail value of the car is 5700$ with the 130000 miles. I saw a number of used cars similar to mine and they want 5700++. What shall I do folks? I argued with the insurance representative and he told me that we go by the actual car value after doing market research. I did not accept the offer. Please I want your advice.

Thanks for reading.

[Tom Paine]

Are 1st offers fair ?

That often depends on the Insurance company.

Check out

[url]www.fightbadfaithinsurance.org[/url]

to see if you are claiming against a good or bad company.
That should give you a clue.

Copy from several valuation books your comparitve car model.

Insurance companies - like the trade like to use NADA, because its trade freindly on price.

Next trawl the papers in your area for similar model cars.
Remember to evidence the date of publication of the advertisment.

Also you might want to see what dealers are asking if you can get them to quote in writing.

Put all this to your insurance company. If you get the right answers ie they agree with your prices or somewhere near then ask them to subrogate your claim.

You might also want to read your States Unfair claims practise and bad faith Statutes.

[jsecape]

it is a bad link
do u know the right one

[amrooz]

[url]www.badfaithinsurance.org[/url]

[Maxthedog]

Originally Posted by amrooz

What is the name of your state? Kentucky.

My wife was involved in a car accident in which she was not at fault. The other driver's insurance totalled our car and offered to pay us 3400$ for a Mitsubish Mirage DE 2000 with 130000 miles. The Kelley blue book suggested that the suggested retail value of the car is 5700$ with the 130000 miles. I saw a number of used cars similar to mine and they want 5700++. What shall I do folks? I argued with the insurance representative and he told me that we go by the actual car value after doing market research. I did not accept the offer. Please I want your advice.

Thanks for reading.

The offer is fair only if you think it is fair. You do have a right to refuse their offer as you did. I would also get other quotes, edmunds.com, nada.com and compare the price you were given. If you were not at fault and can show that the car was worth more than that, you are in the drivers seat. Stay firm but reasonable. Is the insurance co. making an offer his or yours? Have you told them what you believe a fair number is and why you think it is?

[amrooz]

Thank you for your reply.
I told them my figure and they refused. I gave them the retail value from the kelley blue book and I sent them 3 comparable vehicles with higher mileage than mine. They still won't change their offer.

[CarAccidentVic]

Originally Posted by amrooz

The Kelley blue book suggested that the suggested retail value of the car is 5700$ with the 130000 miles. I saw a number of used cars similar to mine and they want 5700++.

I spoke with a collision center employee today who happened to be a former claims adjuster who informed me that my car would be considered totalled and that I'd be in this situation. He said what they do when a car is totalled is find the average price of cars in your area like yours and that sometimes they'll go upto 100 miles away from you to find low prices. He said the best way to do that is for you to do the research and find out what the average prices are and to bring your findings to the adjuster. Also if you had any personal injury, you can always get an attorney, they're really quick to pay attorneys to avoid costly litigation.