Totaled vehicle, how to ensure I get value

[jimnyc]

What is the name of your state? New York

I had a 2004 Toyota 4Runner. I kept it in great shape. I have every record from the day I bought it and it was maintained in great shape. It's a 14 year old vehicle and it just went over 104,000 miles, when average would probably be more like 168,000 - 210,000. The truck had all the premium extras when I purchased.

A dump truck backed into me at a red light and he was carrying asphalt. It took out my bumper, bumper grille & both front quarter panels and a lot of damage underneath. So I got a call this morning from the insurance company, in which I went 100% through his insurance, and they said they are declaring it a total loss.

I want to ensure that I get the maximum value deserved. I am getting costs of similar vehicles throughout my area, as many as possible. I've also got the typical quotes from Edmunds & KBB. But I am still afraid that his insurance company will offer me the lowest of value possible.

I'm to understand that this is negotiable, but in what manner I am unsure. I just want to ensure that I am made whole in all of this, as I intend on moving on with a 2018 4Runner. With the quotes from the typical agencies, and from quotes throughout my general area, what are some things to keep in mind to try and maximize what check they give me at the end of all of this?

Thanks much for any assistance!!

-Jim

 

[Taxing Matters]

You have the estimates of value you got from KBB, Edmunds, and comparables from your area. See what the insurance company offers. If it is significantly less than the average of the estimates you have, contact adjuster and tell him/her that the offer is not acceptable because the vehicle was worth more and provide your estimates to support that figure.

 

[Zigner]

In the few instances that I'm directly familiar with, the insurance companies have offered higher than KBB, Edmunds, etc. They use a different valuation system. In fact, my son bought a car for $4,000 and ended up getting hit, totaling his car 3 weeks later. Insurance paid nearly $6,000 for the car.
YMMV

 

[LdiJ]

In the few instances that I'm directly familiar with, the insurance companies have offered higher than KBB, Edmunds, etc. They use a different valuation system. In fact, my son bought a car for $4,000 and ended up getting hit, totaling his car 3 weeks later. Insurance paid nearly $6,000 for the car.
YMMV

Lucky for you! My experience has been just the opposite. I do agree though that they use a different valuation system.

 

[jimnyc]

Thanks, everyone. Am gathering as much as I can prior to any valuation from the insurance company. I'm hoping to be prepared with my numbers, this way if they go low I have something to fall back on. Hopefully it won't come to that though.

 

[FlyingRon]

Also, take note of anything that makes your car worth more than the average ones the book will be giving the price on. I got $400 extra on my Suburban because it just had new tiers.