Last post on Feb 12, 2013 at 3:55 PM
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Car Safety, Buying Insurance, Coupe, Convertible, Hatchback, Truck, Sedan, Wagon, SUV, Van
#241 of 272 Re: Well? [taximombutler]
Jun 09, 2010 (7:50 am)
Are you still writing on this blog? I am in a similar situation with the insurance company and I am doing a ton of homework to counter offer what they initially offered for a settlement on the car. Did you communicate with them via the phone or through letters/emails? Any advice you can offer?
#242 of 272 Re: What settlement to Take?
Jun 10, 2010 (7:19 am)
Hi... I have finally settled with the valet's insurance carrier, after moving through 6 different contacts, via phone and email. Basically, after I refused the first two offers from the first two adjusters (via phone conversations and explaining what I wanted), they passed me on to a 3rd adjuster. That adjuster I communicated with via both phone and email, and he ended up being my final adjuster, but I had to communicate with his supervisor and then a VP in claims to actually settle. They want to settle and close the claim and hope that you will just accept what they offer. They made me at least 4 FINAL OFFERS, which I didn't accept and my settlement still went up from the. I did my own market analysis on my own vehicle so I knew what the fair market value was. I also used the resources of my own personal insurance company to make sure I was understanding how they determine the fair market value. We ended up agreeing to to the listed NADA Retail Value, and that is considered one of the highest settlements you will get, for the fair market value of the vehicle. My advice: Know the fair market value (including ALL options on the vehicle) and don't settle until you get it.. just keep going up the chain. They carve off $1,000's on each settlement, they just won't make that extra on yours, which is what I told them. They also paid for me to be in a rental for 36 days.
I am fighting the rest of my settlement request through litigation since the valet company wanted to provide very little on the additional amount requested. Since they totaled my car I wanted to recover my downpayment, time off work and the two years of interest paid into the car since I had to go purchase another one and start the financing process all over again. They agreed to a very small portion of that part of the request, but not enough for me to settle. In addition, they were skating their corporate responsibilties and were extremely arrogant - enough for me to walk away from the smaller amount they offered and take it to litigation.
Hope this helps... I will certainly post later this year when the litigation process starts.
#243 of 272 Re: What settlement to Take? [taximombutler]
Jun 10, 2010 (7:41 am)
downpayment, time off work and the two years of interest paid into the car
Because the above are not direct, but resultant losses related to your financial condition, not the cause of the crash, good luck.
#244 of 272 Re: What settlement to Take? [euphonium]
Jun 10, 2010 (8:02 am)
It would be interesting to determine the ROI on the litigation when you factor in legal fees, time off work to go to court, etc. when compared to the increased compensation (judgment) amount - if any.
Who knows - it might all be worth it.
And, if successful, it might set a precedent.
#245 of 272 A couple of questions here
by Kirstie@Edmunds HOST
Dec 16, 2010 (7:19 am)
So, I'm somewhat satisfied with my insurance company's handling of my total loss. However, there are a few things that miffed me, and I'm wondering about the proper way to handle them.
First, when I was hit, I was away from home in another city. Of course I had no idea how to get home, and the insurance company offered no options - no one-way car rental. Thanks to Southwest airlines, I was able to get a same-day one-way plane ticket home for $113. Should I ask for reimbursement?
Second, when I got home, the insurance company told me they had a rental car reservation for me, under my rental coverage. I showed up and the place had NO CARS. I was pretty peeved about that, since no one told me I should call first. Second day, the same place had NO CARS. OK, I've had enough. I made a reservation at another company myself, picked up the car, and will pay for it myself. Should I expect them to reimburse me? Honestly, I think this is a definite yes given that I have rental car coverage. It shouldn't be contingent on their company of choice having vehicles available.
Thanks for any tips.
#247 of 272 Re: A couple of questions here [kirstie_h]
Dec 16, 2010 (11:16 am)
The policy doesn't cover the airline ticket home because it is not a specified benefit. Procuring your own rental car should be reimbursed when you have rental car coverage, but this benefit does have limitations.
#248 of 272 Re: A couple of questions here [euphonium]
by Kirstie@Edmunds HOST
Dec 17, 2010 (7:07 am)
Thanks - makes sense.
Yes, I know the limitations of my rental policy (daily amount & dollar amount). I was just wondering if it's reasonable to expect that they'd reimburse me based on the amount of coverage listed on my policy even IF I don't use their preferred company.
#250 of 272 Total loss on '01 Accord?
Jan 23, 2011 (9:42 am)
I was in a collision with my '01 Accord. No injuries to anyone. The visible damage is to the front bumper, front right corner panel, right headlight/parking light, and front right rim. The passenger side airbag deployed. There also appears to be damage in the engine compartment, possibly to the intake (?) but the car started after the collision and I was able to drive it out of the street. After speaking with the insurance adjuster (who had not seen the car) on the phone, I was told this is a total loss. It has 115,000 miles on it, so I know there was life left in it. Until the accident, there were only minor cosmetic issues on the car (a few scratches to the paint). I have been diligent with all recommended maintenance. I have never been in an accident before, so I do not know whether or not total loss is common. I have been told by some friends that the airbag deploying is probably why the insurance company wants to total the car. Any thoughts and comments are appreciated. Thanks!