Reply to Car Insurance Company Lowballing Payment for Totaled Car

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Reply to "Car Insurance Company Lowballing Payment for Totaled Car"

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[quote=Anonymous]Hi Everyone, I am currently dealing with the car insurance company because someone totaled my car. They do not appear to be making a good faith effort to estimate the actual cash value to determine the appropriate payout. The company is using wonky math to decrease the estimated value of comparable vehicles artificially. They are making a nonlinear adjustment for car mileage, where the cars with the lowest mileage are getting credited approximately twice as much as a value adjustment per mile as the cars with higher mileage levels. Unsurprisingly, 7/8 of the comparable cars use in this report also have lower mileage than my car (which will further bias the estimated value of my car lower). The reference data and adjustment formulas for the[b] CCC One[/b] report that most insurance companies used appear to be cherry-picked to reduce the estimated value of cars and minimize insurance payouts. They also included a "condition adjustment" for all 8 vehicles, subtracting an identical amount from the values before calculating my payout. [b]Has anyone had success challenging the amount an insurance company is offering for your car and if so what did you do?[/b][/quote]

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