Preparing for auto adjuster's appraisal for total loss

[Anonymous]

My car was stolen and recovered extremely damaged. It is 8 years old and I expect the damages exceed its value. The insurance adjuster is appraising it today and I should have their feedback in the next couple days. So I expect them to conclude that it is a total loss and i'll just get paid out the value of the car.

I understand that the value they will assign is supposed to reflect its trade in value and not price I would have to pay if buying the same car (new or used).

But even in assigning the trade in value, are they going to low ball me? Is it expected that I will need to negotiate up? If so, where do I look for evidence of value? Is it Kelly blue book? Are there services you can pay $50 for someone to produce an appraisal report? Any other advice?

[Anonymous]

Yes, they will try to low ball you. Be prepared with comps of why it's worth more. I know people who have received thousands more than what was originally offered.

Look on true car, car gurus and KBB.

[Anonymous]

Did your car have push to start or a key to start? I ask because I read that push to start is harder to steal and I'm wondering if that's true.

[Anonymous]

Happened to us over the summer. 2015 car stolen and totaled. We only owned for a year. The appraisal came in for the amount we had paid for the car less a $500 deductible. No fighting required.

[Anonymous]

Anonymous wrote:Happened to us over the summer. 2015 car stolen and totaled. We only owned for a year. The appraisal came in for the amount we had paid for the car less a $500 deductible. No fighting required.

This is good to hear!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Happened to us over the summer. 2015 car stolen and totaled. We only owned for a year. The appraisal came in for the amount we had paid for the car less a $500 deductible. No fighting required.

This is good to hear!

That is because you must carry "full value replacement" insurance or whatever it is called. That is an entirely optional type of auto insurance. I know because DH just bought a new car and we opted for this insurance, which we will carry for the first few years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Happened to us over the summer. 2015 car stolen and totaled. We only owned for a year. The appraisal came in for the amount we had paid for the car less a $500 deductible. No fighting required.

This is good to hear!

That is because you must carry "full value replacement" insurance or whatever it is called. That is an entirely optional type of auto insurance. I know because DH just bought a new car and we opted for this insurance, which we will carry for the first few years.

OP again. Sorry... to clarify I didn't mean I expected the full price I paid 8 years ago. I was just happy to hear the insurance co didn't try to f them over. I've heard a few other people say this as well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Happened to us over the summer. 2015 car stolen and totaled. We only owned for a year. The appraisal came in for the amount we had paid for the car less a $500 deductible. No fighting required.

This is good to hear!

That is because you must carry "full value replacement" insurance or whatever it is called. That is an entirely optional type of auto insurance. I know because DH just bought a new car and we opted for this insurance, which we will carry for the first few years.

OP again. Sorry... to clarify I didn't mean I expected the full price I paid 8 years ago. I was just happy to hear the insurance co didn't try to f them over. I've heard a few other people say this as well.

The insurance company didn't try to screw them because they pay for a type of insurance that covers the full value of the car. We're assuming that you didn't pay for that, OP.

[Anonymous]

what insurance companies do now, is rather than just looking at the KBB or NADA book value, they actually have a sevice that searches out cars similar in age, simlar options and milage to yours that have recently been sold. IE actuall selling prices.

This means that they still can cherry pick cars with lower sales prices or if you have unique vehicle with unique options some or all may not be considered in the sales price. so you need to take a look at the sold prices, take a close look at options listed, mileage, and even location that the vehicle was sold.

also don't for get to ask for sale tax reimbursment, and also dealer fees

did you just have any work done to the car, tires, detail, ect. they will stil try to under cut you a bit, but they have gotten a bit better.

also take a look at places like auto trader and cars.com to see what asking prices are going for for cars similar to yours.

you want to be reimbursed for as close to retail sales price you can get.

[Anonymous]

Anonymous wrote:I understand that the value they will assign is supposed to reflect its trade in value.

That’s not true.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Happened to us over the summer. 2015 car stolen and totaled. We only owned for a year. The appraisal came in for the amount we had paid for the car less a $500 deductible. No fighting required.

This is good to hear!

That is because you must carry "full value replacement" insurance or whatever it is called. That is an entirely optional type of auto insurance. I know because DH just bought a new car and we opted for this insurance, which we will carry for the first few years.

Nope - we did not have full value replacement.

[Anonymous]

They will lowball you OP because they expect you to negotiate. Research it yourself and find the highest selling prices you can for similar vehicles.

[Anonymous]

Go in armed with KBB, NADA, and the recent selling prices of models with similar mileage as yours.

One tried low-balling us and then another time the offer was right on mark.

[Anonymous]

OP back again. Thanks for the responses. Our insurance appraiser called and the car is a total loss (yay!) but the value they assigned is actually pretty reasonable based on my very quick searches on Carfax, etc. And higher than i'd initially assumed our car was worth before I spent any time looking. I'm going to take all my repair/maintenance paperwork to the dealer today -- both under the auspices of shopping for a new car (which we need) and also to ask them if they could provide documentation of value. Based on my online research and comments here, the number insurance has offered is likely a starting negotiation place and there is probably a little room to go up.

[Anonymous]

I don't think the repair and maintenance record is all that compelling. Just make sure they have the correct mileage on the appraisal and that they know of any dealer-installed options that might not be reflected by the VIN - roof rack, tow package, upgraded wheels, that sort of thing. And if you had new tires on the car, maybe that's worth a few bucks.