I think that I am being cheated by an auto claims company how do you determine your cars value?

I think that I am being cheated by an auto claims company how do you determine your cars value?

It'-s a 2001 Chrysler Concorde. The insurance company hired this independent contractor to do the claims work. To buy another with the same milage and features would cost $6700 but they only offered $5100.00. Does anyone know how this process works?


You are not being cheated. This is simply a matter of documentation.This is one of the most common issues in settling total loss car claims. Most of the time the owner of the car is basing their value on "asking prices" and not actual selling prices and their is a difference.as deadcars42 stated the company should have used an evaluation service such as CCC or ADP. Ask for a copy of this report. It will list actual similar cars and what their selling price was. It should also show similar cars for sale at dealers and what their "take price" is not the asking price.The insurance company does not owe you an ask price the owe you the actual cash value (ACV) which comes from actual selling prices.If the company did not use a CCC or ADP report ask them to reun one and provide a copy to you for your review.Good LuckSource(s):Claim adjuster for way too long.


When it comes to a total loss of a vehicle, insurance companies take into account the total condition, mileage, options, etc... They are supposed to use a service that includes dealer quotes for similar vehicles. Ask the insurance company for a copy of the evaluation that they used to determine the value of the vehicle. You have a right to this. However, where did you get your $6700.00 value? Did you find the same vehicle on a dealer lot? a newspaper ad? they will ask about this when you question the value. Also, Kelley Blue book is not an Insurance acceptable valuation, therefore, if you tell them it was higher on kbb.com, they will tell you the same.Source(s):claims lady


Sure. The insurance company subscribes to a service that colates all the local for sale ads in newspapers, by zip code.You don't get "retail" for your car. You get somewhere between wholesale, and private sale value.Go to www.kbb.com, and look up the private party sale value. Be sure to use the ACCURATE condition and milage for your vehicle. It tends to be slightly high.OH, don't forget . . . they ALSO might be subtracting your deductible from the value of the car.Source(s):agent, 21+ years


The insurance company is only obligated to pay you what your car is WORTH, which is known as Actual Cash Value (ACV). No one but used car salesmen use Kelly so start by looking up the value under NADA or ADP. Be sure to add or deduct for options and mileage -- this will give you a good baseline value. Then it a matter of locating some used cars for sale or that have sold in your area that meet the same model, year, mileage and condition. If you can show the adjuster that your car is indeed WORTH more than $5,100 they will pay it.Source(s):Claims dude


Or you can go to your local Bureau of Automobile Repair and ask them. They are the people you go to if you feel you have been cheated by unscrupulous people who fix your car. They can probably tell you more places to check or give you an estimate right there.


they give you what the car will be worth when its broken down into part if it older thats an issue high mileage even worse you should be glad they are giving you that much its a down payment on a new car!


Go to kbb.com thats Kelly Blue Book. They are the experts for a value of a car.Source(s):kbb.com


hi....to get your doubts cleared and to get more relavent information visit the web site...http://eijar.notlong.comhttp://iemoo.notlong.com


Also you can usewww.edmunds.com



Popular Q&A

I am looking for cheap nyc auto insurance. I dont want to pay more than 800 to a 1000 every 6 mos. Any ideas?
My idea is for you to call several insurance companies for quotes. Is there any other way?

When would be the most economical time to break my lease?
Did you have an accident? What the heck is your mechanic charging you a total of $1200 for maintenance? The 30,000 mile (36 month) maintenance http://smg.toyotapartsandservice.com/gui… is the same as any other 5,000 mile (6 month) maintenance - an oil/filter change and tire rotation (about...

Do I need to inform my insurance company in writing that I won't be renewing my policy?
Why don't you call them and find out what is it that they need? You actually do not have to wait until renewal. You can cancel any time and even get a bit of a refund. That is true for any auto insurance policy since you can sell the car, decide not to use it anymore, of the car could be stolen...

What is a reasonable auto insurance liability amount, i don't believe the current legal limits are enough?
Great question and analysis. I wish more people would look at the laughable state minimums and recognize that they aren't enough.The answer depends on what you have for answers to protect, but I normally suggest a minimum of 100/300/100 for liability limits and 50/100 for uninsured and underinsured...

1994 Ford F150 w/121,000 miles. get liability or full coverage auto insurance no loan?
What state are you in? Requirements for MINIMUM coverage vary from state to state. I would say that I wouldn't purchase more then the minimum required by law for a $1200 car/truck. Better to save that extra $$$ for a better/newer vechile when the time comes...here is what I found on the esurance...