Insurance company trying to screw me over?

[Scarpozzi]

Jeep was totalled because of an uninsured motorist.

My insurance company finally made me an offer for my 1999 Jeep Cherokee last night. They're offering $7200 for it. My question to you wonderful ATer's out there....why's the Blue Book Retail on my vehicle showing $9400? I checked with Edmunds.com and it's showing over $10,000 by the time I added all of the options. What can I do in this case? I'm having them rerun the numbers and have sent them numerous links to Jeeps of the same year (but not necessarily the same options) to give them an idea of why I'm angry.

Thoughts or ideas?

 

[Hammer]

what insurance company?

 

[Scarpozzi]

Geico

 

[Viper GTS]

SOP, they will always lowball you initially.

Play the game right & you should end up OK, though you probably won't get full KBB for it.

Viper GTS

 

[Mandos]

Keep pushing for more. They should offer your bluebook.

 

[EagleKeeper]

The insurance companies use a service that tracks what the actual selling price is for simliar vehicles (color/condition/content) in your local area.

They do not look at the ad prices or KBB.

They claim that the state requires the comparable value as if you buying it from a private party.

Ask them to show you how they arrived at that value.

 

[Ness]

Originally posted by: EagleKeeper
The insurance companies use a service that tracks what the actual selling price is for simliar vehicles (color/condition/content) in your local area.

They do not look at the ad prices or KBB.

They claim that the state requires the comparable value as if you buying it from a private party.

Ask them to show you how they arrived at that value.

Yes.
You must be able to show that it will cost more to purchase a completely identical vehicle, similar mileage, similar options, etc.

 

[jemcam]

They owe you actual cash value of what the vehicle was worth just prior to the loss. They should reimburse you what it would cost you to buy a vehicle that is as similar as possible to what you had. They don't owe you any book prices, but book prices are supposed to be close to what the market is bearing.

Look for cars on Autotrader.com to find something similar to yours in relation to condition, equipment, mileage, etc. That's what they owe you, no more, no less.

 

[jemcam]

By the way, when looking up a vehicle in the books, you must add or subtract for mileage, condition ratings, and options.

An above average car will not show ANY damage that would expect to be seen on a 1999 car. A five or six year old car would be expected to have stains in the carpet, minor door dings, scratches. etc. Greater than 50% of all cars are average. Above average means the car is or was "front row ready" to be sold on a dealer's lot. Maybe a minor wash or detail is neccesary, but nothing else. Tires are very good, maintenance records, seats spotless, no oil leaks, etc.