Property Damage

[VADriver7]

What is the name of your state? VA

I was the driver of a car hit and totaled by a red-light runner. The other driver admitted fault, was ticketed at the scene, and had valid insurance coverage. No one was injured and there was no one else in the car. I'm not the car owner but since I was driving, I still feel some responsibility and I'm trying to help as much as I can. The other driver's insurance company is offering an amount to settle for the totalled car that seems low. They are claiming "NADA average retail actual sales price in the market" I believe. I found a number of postings of similar cars (same year, similar mileage, etc.) and sent them to the company for consideration. They basically ignored them and are sticking with their offer. They say the only next step available to us, if we don't agree to the offer, is to use appraisers to arbitrate.

Ok, this is basically small potatoes, not a lot of money is involved. They are offering 3,500 and I found listings ranging from 2,000-6,000, with 75% over the 3,500 mark. And I sent them all to them not trying to skew anything. But still it really is aggravating. I think we should get a better than average price. Why? This was not my fault, we didn't ask for this or invite it and it has been an unpleasant experience. (I know...boo-hoo). It seems to be too much to ask to be "compensated for our troubles" and at the point where we might not even be able to get a replacement car that equals the one lost. Any ideas would be appreciated.

 

[shell007]

What is the name of your state? VA

I was the driver of a car hit and totaled by a red-light runner. The other driver admitted fault, was ticketed at the scene, and had valid insurance coverage. No one was injured and there was no one else in the car. I'm not the car owner but since I was driving, I still feel some responsibility and I'm trying to help as much as I can. The other driver's insurance company is offering an amount to settle for the totalled car that seems low. They are claiming "NADA average retail actual sales price in the market" I believe. I found a number of postings of similar cars (same year, similar mileage, etc.) and sent them to the company for consideration. They basically ignored them and are sticking with their offer. They say the only next step available to us, if we don't agree to the offer, is to use appraisers to arbitrate.

Ok, this is basically small potatoes, not a lot of money is involved. They are offering 3,500 and I found listings ranging from 2,000-6,000, with 75% over the 3,500 mark. And I sent them all to them not trying to skew anything. But still it really is aggravating. I think we should get a better than average price. Why? This was not my fault, we didn't ask for this or invite it and it has been an unpleasant experience. (I know...boo-hoo). It seems to be too much to ask to be "compensated for our troubles" and at the point where we might not even be able to get a replacement car that equals the one lost. Any ideas would be appreciated.

The owner of the vehicle in only entitled to FMV (fair market value). Nothing more...nothing less.

Being compensated for your troubles IS NOT going to be even remotely considered in the PROPERTY DAMAGE portion of this claim.

 

[moburkes]

What is the name of your state? VA

I was the driver of a car hit and totaled by a red-light runner. The other driver admitted fault, was ticketed at the scene, and had valid insurance coverage. No one was injured and there was no one else in the car. I'm not the car owner but since I was driving, I still feel some responsibility and I'm trying to help as much as I can. The other driver's insurance company is offering an amount to settle for the totalled car that seems low. They are claiming "NADA average retail actual sales price in the market" I believe. I found a number of postings of similar cars (same year, similar mileage, etc.) and sent them to the company for consideration. They basically ignored them and are sticking with their offer. They say the only next step available to us, if we don't agree to the offer, is to use appraisers to arbitrate.

Ok, this is basically small potatoes, not a lot of money is involved. They are offering 3,500 and I found listings ranging from 2,000-6,000, with 75% over the 3,500 mark. And I sent them all to them not trying to skew anything. But still it really is aggravating. I think we should get a better than average price. Why? This was not my fault, we didn't ask for this or invite it and it has been an unpleasant experience. (I know...boo-hoo). It seems to be too much to ask to be "compensated for our troubles" and at the point where we might not even be able to get a replacement car that equals the one lost. Any ideas would be appreciated.

They are only required to give her actual cash value for the vehicle. Has she gone to kbb.com, and input her information? She can try that. They will take depreciation for # of miles, wear and tear on the tires, and things like that. Ask where they got their figures from, for the offer. It probably will not end up being replacement value, since no auto insurance company is required to give that.

 

[VADriver7]

Thanks for taking the time to read and reply - I appreciate it.

 

[john2006PA]

your advice is great.
May I copy your reply to my post "Do I have right to keep my car and still get paid for fair market value of my car ? " and other same posts ?

sorry, I cannot wait, I already copy it.

as following:

thanks for all advice and understand.

I use the key word "salvage" to search this forum, found a lot of same cases as mine.

I copy another post "Collect Insurance & Sue!?!" as following:

Well, in some states this is a no-brainer, but not the others. However, common sense should always apply. Here is my take on this:

1) adjusters always underestimate the damages (but agree to values determined at supplemental in body shop). So, if you choose to fix the car, they would pay all of the costs (except for issues below).

2) Any extra equipment may be considered personal property, and unless stolen or damaged would not be covered. Removal/re-installation in another car may be considered damage, and one way to handle it may be to file a property damage claim with that insurance, have it denied and go to small claims. Don't know if it would work, but at least this steals the argument on insurance side.

3) If the car is totalled, you are stuck with two options already explained before. But, in case you want to just get paid, it depends on insurance as far as what is the value they put on it. Two choices are Fair Market Value (higher) or Blue Book (typically lower, that's why you are more likely to get it). In both cases, optional equipment costs may or may not be added, but you need to figure out how to submit that claim specifically, not as part of regular process (as a separate part of policy is involved). This is just like the injury, does not happen automatically, lots of extra paperwork and proof of damages is involved. Now, if discrepancy is considerable, you can also try to sue in small claims, and add to that loss of use, damages to stereo, etc. If claim is higher than limit in small claims, then you can sue in regular court.

Just remember, you are not at fault, and any court would recognize this fact. Insurances do tend to lowball you in such situations, and you need to push back, and strong arm them. They don't want to be stuck in court with a loosing case. Good luck.