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The body shop just informed me that the estimate is at $7,100 at this point, the car is coming up with a value of 10 to $12,000 depending on condition. He said when it approaches 70% of the value a field agent has to come and do a separate appraisal.
So I guess I have to start preparing my comps.
I bought the car last year from a Maserati dealer who got it on a trade for a Gran Turismo. It was a one owner car with 35000 miles on it. I still have all the paperwork showing what I paid for it so I'm hoping between that and the comps, and the fact that I picked it up 20 minutes before it got hit from state inspection where it needed nothing will help my case??
He did tell me something interesting when I asked him about it being an aluminum body. He said when done correctly it can come out better than sheet metal.
The body shop just informed me that the estimate is at $7,100 at this point, the car is coming up with a value of 10 to $12,000 depending on condition.
Great news, this is easy you may not have to fight.
$7k damage is further good news that nothing major happened.
Get agreed value insurance going forward.
The body shop just informed me that the estimate is at $7,100 at this point, the car is coming up with a value of 10 to $12,000 depending on condition. He said when it approaches 70% of the value a field agent has to come and do a separate appraisal.
So I guess I have to start preparing my comps.
I bought the car last year from a Maserati dealer who got it on a trade for a Gran Turismo. It was a one owner car with 35000 miles on it. I still have all the paperwork showing what I paid for it so I'm hoping between that and the comps, and the fact that I picked it up 20 minutes before it got hit from state inspection where it needed nothing will help my case??
Who is "coming up with a value of 10 to $12,000 ..." and what is the basis for their determination? If the adjuster is making that determination using Kelly Blue Book or a similar valuation guide, I already explained why that is a flawed methodology and you should use that to refute his valuation. Make sure that you do it in writing by USPS Certified Mail, Return Receipt. That'll get his attention and tell him you're no pushover.
Do you need an independent professional appraisal like I suggested? Not necessarily, because you bought the car a year ago and have all the paperwork. That's recent enough to use your purchase price as the starting point; you paid fair market value at that time. What you paid minus the depreciation from that date of purchase until the date of the accident (immediately before being hit by the deer) is the fair market value that you should claim that your car was worth.
If you want to, you can post the actual numbers so we can review your math. Or some hypothetical numbers if you prefer to not say exactly how much you paid.
Whatever you do, don't give up without a fight! Insurance companies are big bullies with even bigger weak knees, and are just like Goliath. All it takes is one shot between the eyes!
I'm no body shop guy but from the picture it looks like the rear can be repaired but you would need a good aluminum specialist. There doesn't seem to be any creases so it will be pull/hammer and dolly work. I do know that if it were steel the repair looks straight forward but knowing that aluminum works much differently I don't know how difficult it will be. If the front is less damaged it may be easier to fix. Good luck
Tell me about it. I paid in $20k into insurance for a car that was destroyed by texting driver few days ago. I qualify for $500 of the $20,000 I gave them.
Wish I had put it in a real bank or the stock market. Like they do!
I just took the car to my friend's body shop to get his opinion.
Long story short, the claim has already been reassigned with the adjuster coming to his shop on Monday or Tuesday, and he assures me that the car will not be totaled. We will see.
Something that I found out that might interest others, although the rear fender is part of the unibody they actually make a rear fender for our cars. He showed me the part on the computer. They cut off the old one.
However, in this case he thinks that they can fix this one without going that route. He did say it is better to fix it as soon as possible when dealing with aluminum.
Anyone in this unfortunate situation might want to consider appointing a Loss Assessor. Insurance companies will often appoint a Loss Adjuster (note the difference in the two terms). A Loss Adjuster works for the insurance company and his or her job is to keep the claim payment as low as possible. However a LossAssessor works for you and their job is to get you the best possible result from your claim. Many Loss Assessors work on a no-win, no-fee basis so their initial advice etc is free and any work they do is also free - they make their money from taking a percentage of your claim, but IME since they will always get a better deal than you might get on your own, this is still beneficial to you. They also handle all the paperwork, meetings, discussions etc leaving you free to do other stuff. IMO a lay person will rarely get the better of a Loss Adjuster - these guys do this every day of the week, year in and year out and you do it maybe once or twice in a lifetime - guess who's likely to come out best in that sort of scenario? Just a thought.
Yes, I understand but I know he's already spoken with the adjuster who's coming out (who he has worked with before). He does excellent work and is very reputable, the only reason I didn't take it there to start with is because the insurance company said the shop right up the road from me was a "preferred"" shop and no adjuster would be necessary.
We'll see what happens, I will update either way when I hear.
Yes, I understand but I know he's already spoken with the adjuster who's coming out (who he has worked with before). He does excellent work and is very reputable, the only reason I didn't take it there to start with is because the insurance company said the shop right up the road from me was a "preferred"" shop and no adjuster would be necessary.
We'll see what happens, I will update either way when I hear.
You are aware that the Loss Adjuster works for the insurer and his job is to get the claim reduced? See my post just above.
You are aware that the Loss Adjuster works for the insurer and his job is to get the claim reduced? See my post just above.
Yes I understand, I think the difference here is the value that was assessed to the car?
The cop who came out to to the scene asked if the car was new because he said it looked brand-new
A First Party insurance claim (against your policy, not someone else's) is like a crapshoot. You roll the dice and will occasionally win, which keeps you in the game so you keep paying premiums to that company. But, by comparison, you're the amateur and the house is the pro. They're in business to make money, and payouts are a major business expense. Bottom line: The house always wins because they stack the deck in their favor so that losers far outweigh winners.
Your insurance company is a pro. To level the playing field, you may need to get a professional on your side. That's why I recommended a qualified automobile appraiser in my Post #16, above. And read my Post #24 again, because you should dispute your insurance company's value of $12,000 as being too low.
Anyone in this unfortunate situation might want to consider appointing a Loss Assessor. Insurance companies will often appoint a Loss Adjuster (note the difference in the two terms). A Loss Adjuster works for the insurance company and his or her job is to keep the claim payment as low as possible. However a LossAssessor works for you and their job is to get you the best possible result from your claim. Many Loss Assessors work on a no-win, no-fee basis so their initial advice etc is free and any work they do is also free - they make their money from taking a percentage of your claim, but IME since they will always get a better deal than you might get on your own, this is still beneficial to you. They also handle all the paperwork, meetings, discussions etc leaving you free to do other stuff. IMO a lay person will rarely get the better of a Loss Adjuster - these guys do this every day of the week, year in and year out and you do it maybe once or twice in a lifetime - guess who's likely to come out best in that sort of scenario? Just a thought.
Barnsie,
You're in the UK and the OP, Kongo1, is in the USA. Although we both speak English, words can have different meanings on both sides of the pond, as well as our laws. But I think we're trying to give the same advice to the OP, namely, hire a professional auto appraiser. The job titles may differ, but the work is the same. You say "Loss Assessor" and we say "Public Appraiser".
US automobile insurance laws vary from state to state, as do laws pertaining to professional licenses. Pennsylvania requires a Public Adjuster to meet certain qualifications to be licensed to practice, but no license is required for adjusters who are employees of an insurance company. https://www.insurance.pa.gov/License...dividual).aspx
Pennsylvania also requires a license to be a Motor Vehicle Physical Damage Appraiser. https://www.insurance.pa.gov/License...Damage-Ap.aspx
If a Policy Holder hires a Public Adjuster to help with his claim, can that Public Adjuster also be the Policy Holder's appraiser? A Florida court recently said "No." Although Pennsylvania is not required to follow Florida law, that case is a good reason to hire a qualified professional appraiser instead of a public adjuster where value is the issue. https://www.propertyinsurancecoverag...ers-appraiser/
