How do I negotiate a total loss settlement with my insurance for a theft/recovery/los

[clark69]

I had my truck stolen, then recovered. It was stripped of parts and was demed a total loss. When I tryed to buy it from them my adjuster told me that in my policy it only has that option if it was in an accident, not a theft. So, now they sent me paperwork(release of interest,power of attorney and vehicle tranfer forms) that they want me to sign. The problem is the adjuster gave me an estimate of what they may pay me but they want me to sign over without a settlement amount. Don't I get to dicker a bit on the price? I had just spent $ on fixing it up, not mentioning the new tires I put on it 2 months before this happened, which I'm still paying for on a credit card. I owe 10,700 on the loan, the adjuster mentioned they will pay me 10,600 plus tax and license. The going value in my area is higher(replacement value)somewhere between the low end and the high end(private party vs. dealer) Or should I use my receipts to get the money back I put into it? They said it was just maintanance things. I'm in California and the insurance co. is in Florida. Any simple reply would be apreciated.

 

[racer72]

Insurance companies are required to pay a fair market value for the vehicle. Insurance companies use 3 things to determine this, the blue book retail value, what a vehicle such as you would sell for in your market, and what your state considers the taxable value. The average is what is paid. You are not entitled to additional compensation for the tires. Tires are required for the vehicle to be operational and are maintainance items. Everyone would like to get the replacement value for lost vehicles, but that is not the way it works.