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Smart Shopper Questions About Auto Insurance & Accidents
4422 messages, Last post on Dec 04, 2009 at 6:46 PM
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| How is the value of a totaled car estimated? Progressive had estimated the value of my totaled car $2400 below the Kelley Blue Book retail value and about $1500 below the average price of similar cars on AutoTrader.com. Is it typical? Can I do anything about it? | |
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Hi phil65. I am obviously not an insurance adjuster, but I can steer you towards an article that may help to answer your question. The following article discusses how and why insurance companies total vehicles that have been involved in severe accidents: How Auto Insurance Companies Total Your Vehicle After You Total Your Vehicle. If you have any additional questions on this particular subject after reading this piece, please feel free to ask. Also, perhaps the individuals who are involved in the insurance industry and have been nice enough to post in this discussion can shed a little more light on this subject for you. Car_man Host Smart Shoppers / FWI Message Boards |
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Phil: Progressive at least in Arizona per the department of insurance we are not allowed to use the kelley blue book value as that is not in accurate value only a typical general value. The Value has to be a market based value. We will take into consideration the options and mileage as well as the conditions of the vehicle and then call CCC which is in independent company that will take your zip code and find out what similar cars with like miles and condition as well as options are selling for in your area and then take the average of these and come up with your ACV(actual cash value). We then add tax and title to the value and take out your deductible to get your value. Make sure you find out what we are offering you before taking out your deductible this will give you a better idea. Autotrader will tell you what a car is being offered at but we know the offering price and the take price are very different. We take averages of take prices and not offer prices. Some things you can do if not happy with your value is: 1. contact your adjuster and ask him/her to fax you a copy of the ccc: report and verify the mileage and options are accurate as this will make a big difference in the value especially the mileage. A lot of times we don't know the mileage and run it as average which is considered between 12k and 15k a year which most people don't drive. 2. Find comparables like yours online or in the newspaper and fax them to your adjuster and he/she has the ability if they are truly comparable to up the offer on your vehicle. 3. With Progressive the one thing you can do per the policy as well is you can evoke the appraisal clause which allows you to get someone to appraise your car and if progressive agrees with them they will pay that. If they do not agree then Progressive and yourself will have to share the cost of an independent appraiser and there value will stand. Also I wouldn't take to heart much of that website that is supposed to tell you about insurance company policies on totalling cars. This is general info and doesn't apply to most companies as they are all different. Hope this helps.
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I could go on and on about my accident and problems with Idiotco(Geico) but since this forum is accident only I will stick to that topic. Question: I hit a snow bank with my 2001 Silverado extended cab 4x4. Causing 3+ grand damage to the truck. Why is it that Geico never investigated the claim??? I hit black ice and did avoid getting into a bigger accident by missing a few cars and trucks(It happened on the onramp to a highway). Geico claims that it was my fault and not due to weather. I was going about 25 MPH and the point of impact and loss of control point can clearly be seen to anyone that you cannot be going more them 25-30 MPH. I undersatnd that I was driving, but shouldn't they at least investigate the accident?? They claim that the accident could have been controlled. Furthermore, I will advise anyone to stay away from Geico as they have the rudest adjusters around. Just a few questions. I can tell you the whole story if you e-mail me. Tburner  hotmail.com Thanks. |
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| man, after reading all your posts and it's no wonder your angry. STAY OUT OF ACCIDENTS, will you. What is there to investigate after hitting a snow bank in a single car accident. EVERY INS company that ever did business would rate that as a 100% at fault accident. You are the driver, what other factors caused the accidents. When the road conditions are poor, drivers are supposed to adjust their driving patterns accordingly. You obviously didn't and I'm a young guy like you and I can tell you are an aggressive driver by the other posts you made. You were in an accident in a VW GTI, wanted quotes for an CL type s and a Subaru WRX, all enthusiast cars. Look you'll never escape high surcharged premiums by getting violations and accidents. Don't complain, ice and rain never causes accidents, if they did, how come parked and unoccupied cars in rain and snow storms don't get into accident on their own because it's raining or snowing. It's always the drivers fault in single car accidents, just because the road conditons were poor made your driving errors more severe in terms of losing control of the car YOU WERE DRIVING! | |
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First of idiot, I never got into an accident in my GTI, it was stolen. But to you morons in the industry that is that same. Second, you can't discrimate on the types of cars people drive. I have seen old ladys driving Integra type-R's so shut up. And you tell me Mike, how you would avoid something you can't see like black ice??? If you can re-create the type of accident I had and not hit anything, I will give you 10K cash right now. And this is the best stetement yet from this bonehead:ice and rain never causes accidents. Ummm so Ice no longer causes accidents?? Not even black ice??? Yes driver control is a factor, but Ice does cause accidents by making the car slide even with more distance to stop. Think I am lying? Come to Alaska some time, and let's see how fast you will get into an accident. This guy is an adjuster so he will take the industry side and continue to scam and cheat the consumer out of money! |
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Hi everyone. Remember that it is a violation of the Edmunds.com Member Agreement to act hostilely towards other community members or call them names. Please feel free to continue this debate in a civil, mature manner. I will delete any future violations of the member agreement on sight. Thank you. Car_man Host Smart Shoppers / FWI Message Boards |
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Dear Ak: You will have to excuse the previous post by twins as he obviously cannot answer your question in a mature manner. He does however make some very good points with his statement. #1 If you are travelling in adverse conditions and you hit black ice and are not speeding but still slide into something else you will always be considered to be at fault regardless. I know this sounds pretty crappy but as an adjuster I will try to explain why. First of all regardless of what vehicle you are driving if you hit ice, snow, black ice or hydroplane on water you are always liable regardless of the conditions as you have a duty to maintain control over your vehicle. 25 mph is pretty decent speed to hit black ice at. I am not saying that you were speeding but if you would have been going 5-10mph in these types of conditions then I imagine you wouldn't have had the accident. I do realize however that a lot of times it is impossible to see black ice. I understand that the ice was partially a cause to the accident and you were as well and you do not feel that you are at fault for the accident at least not all of it but you have to understand that you have the following duties as a motorist: 1. Maintain a safe speed 2. Maintain control over your vehicle. 3. Maintain proper lookout. 4. Display evasive action accordingly The ice may have caused the accident but the ice has no duties like those listed above so would not hold any liability. There is nothing for Geico to investigate. They can't investigate the ice. If you had swerved to avoid another car and hit the snow but not the car depending on what the car did there may be some duties for the other motorist that could have been violated. |
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Check out AK4x4's topic about a class action against GEICO, you may re-think your comment twins' response above. AK4x4 is complaining about his premium increasing after getting into an accident. With each post, more and more information came out. I now have a pretty good idea of what's going on, AK4x4 is mad because he got into an accident and can't accept responsibility for the result. I also have a feeling why Mr. 4x4 thinks the GEICO adjusters were so rude. Look how he responds to those of us who are trying to explain this to him. He berates us and calls us names. I wouldn't treat him very nicely either, and I feel sorry for the poor adjuster who had to deal with this guy. |
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Thank you for actually answering my question. The two guys posting against me are what I have encountered from the beginning. As you see why I am so enraged. I will never will deal with Geico again just based on how they treated me when I got into the accident. Regardless of whose fault it was. And if these guys did their job, they would understand the customer is right. They wouldn't want to be treated that way either. and I don't deal with adjusters anyway, I deal with the location claims office head. My qualifacations put me in that position due to my degrees. I seem to find alot more damage then some adjusters can see. but I do point this out to them and we both look at it together and determine the situation. These guys made no effort to be nice nor are they even looking at the situation. They would see I don't care about the accident or high rates or any of that. I am upset because the company changed the preimum in the middle of the policy after 45 days had passed. But then again these guys can't add either. This is why I am upset and would like an answer. If those guys respond, ignore them, like most consumers probably do! I wonder what company they work for?? Probably Geico! seems like it.
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