Hello,
I just got lowballed, I think, by my insurance adjuster. I want to get at least a couple thousand more for my car then what he just offered me. Any tips or ploys that will help me? Thanks.
Is it a first party or third party claim?
You might try this:
Explain what you think you should get and why, backing up your number with specifics and solid arguments. (i.e. do your homework first) Then tell the adjuster that you don’t want a major battle, but your wife/girlfriend/husband/boyfriend thinks that the offer was made in bad faith and is pushing you to file a complaint with the state insurance commissioner in Trenton/Albany/Sacramento wherever. That way you don’t come across as a hot-headed a****, but you make it clear that you know how to assert your rights.
Basically, you would need to explain why your car is worth more than average for that model and year. Perhaps the mileage is lower than average, or the body is in excellent shape, or you’ve just put in a brand-new engine. I totaled a car once and was able to get slightly more once I documented this sort of thing.
They didn’t give you an arbitrary number. They have something to back up their offer. Many companies used to use and maybe still do a company set up for this purpose. Certified Collateral Corporation. They provide a ACV using a "data base of similar autos in the same geographical area. A threat of bad faith won’t scare anyone.
A brand new engine might get you more money but typically repairs and upgrades are worth very little. The condition of the car should be considered intially. Search NADA and the Blue Book on line and see how they value your car. I don’t expect there will be that much difference.
Go here: http://www.nadaguides.com/default.aspx?LI=1-28-0-5000-565-557-50181&l=1&w=21&p=0&f=5002
and plug in the data for you vehicle. It will give you a realistic value. As Dewey Finn said, if you have proof that your car is exceptional, you can present it to the adjuster and you may get them up a bit. Forget any threats, they’ve heard them all. Good luck
I know this will work because I did it. Submit FAX after FAX about the specific FACTS about your car that dictate it needs exceptional treatment. I used my “new” tires with less than 10,000 on them as one example. They gave me 80% or their value for that. While you are in this process with them, reject all offers they propose unless they come close to what you think is fair. Adjusters are just working stiff too and hate replying to excessive corresponce. Once you sense they are more worn down than you are, ask for the settlement check. They don’t get paid for high-balling offers. My FIL who has over 50 years in executive sales experience did that for me and showed me how it was done. I got back $7500 instead of $5500 just because he filled out forms, had them faxed, and then had his secretaries call right away to find out what they planned to do about it.
I agree with what has been posted so far (except Shagnasty, that is just game playing which I can’t condone). You need to show them WHY your vehicle is worth more than the offer. Just the feeling that they should pay a few thousand more doesn’t cut it. What you think they should give you is not relevent unless you have facts to back it up.
this has gotta be the third one of these threads this week, ppl need to drive more carefully!
I also said that you had to show evidence. I didn’t come up with the idea but it works. You just document any things you believe are worth more, document them, and send them in.
Believe me, I know adjusters well. That was just a diversion but the 5 month battle on my partial house collapse was not. The adjusters bosses need to see why you demand more. It often doesn’t have to be a great reason but submit it anyway with supporting documentation. They have some discretion but their bosses don’t let them throw away money without proper cause.
Ok, I went to the website you suggested, went to used car prices, entered the relevant details, and then I got 2 different numbers, a “clean trade in” and a “clean retail value” which one do I use?
FTR, xiix a transport truck ran a red light and I hit it. Totally his fault, I couldn’t do a damn thing about it. He was speeding as well.
ETA, does it make any difference about any of these that I am Canadian?
It might. What company are you dealing with?
Gingy
Insurance broker in Canada for eighty billion years
Dominion of Canada
They’re terrific. I had them as my carrier for a long, long time. We had an auto claim and a property claim. The car, I was able to talk them up by $1000, but the property was already covered 100%.
Your adjuster is basing your settlement amount on replacement cost minus depreciation, and your location, and comparable prices listed in the paper for your same type of vehicle, along with other information. If you think it’s worth more, try to prove it to her/him. If you have receipts for upgrades to your vehicle, or any documentation whatsoever, give it to them. All you can do is try, right?
What do you mean replacement cost minus depreciation? Shouldn’t I get what it would cost me to replace the same car? Within reason I suppose. I don’t really know what within reason would mean though. Is it replacing a car that had 150,000KM on it with a car that has 130K? 140k? 160K?
Read your auto policy wording (which Dominion sends out with every renewal) and it will explain that your settlement (unless it’s a new vehicle with SEF 43E or 43L) cost is Actual Cash Value, which is new minus depreciation. Call your broker, that is what she/he is there for. Any broker worth their salt will explain it properly to you without confusing you. Sadly, I have been out of the business for too long (and before that, not much client contact for the last year or so of my career, switched to commercial) to do that for you here.
I don’t know about Canada and what guide they use to ascertain value, but the retail value would be the operable number here in the U.S.
The fact that the other party was at fault is the key, circumstances beyond that don’t matter in establishing the amount your vehicle is worth.
Any depreciation is already factored into the value given by the authoritive guideline. As has been stated, your wiggle room depends upon any documentation that can show why your particular vehicle was worth more than the guidline value, new tires, aftermarket additions, recent mechanical improvements, etc. Just because you took very good care of the car and it looked very good, don’t count for much.
Also remember that the NADA numbers are in U.S. dollars.
Tell them you don’t want cash, you want the same year, model, colour, in the same condition and delivered to your door.
Say you want to be ‘indemnified’
eg: no better off, and no worse off than before their client shunted you.
You could also say that the whole matter is causing you considerable inconvenience, and that you will be pursuing that separately.
Incidentally, it is best to be reasonable with adjustors, I’ve a friend who was an old time motor adjustor and he used to dig his feet in when dealing with a jerk - but was happy to use his discretion if someone was rational. He particularly hated lawyers, especially the ones that kept him waiting and took 'phone calls while he was with them.
FRDE you might want to look at how the word indemnified is defined. It does not mean drive an identical one to my door. 
Queing here is a previous thread (about two weeks ago) on this exact subject. Pay particular attention to the OP, posts 22, 29 and 35.
Why do you say the insurance company is lowballing you? What are they offering? What does NADA say your car is worth?
[disclaimer] I have no idea if NADA is accurate in Canada, but it is dead nuts on for the US[/disclaimer]