Car totaled--Any advice for dealing with insurance?

[albionmoonlight]

Mrs. A got rear-ended the other day. She is fine, but we just found out from the body shop that the car is totaled. The insurance company of the guy who hit her has already accepted responsibility for the accident, but we had all been working under the assumption that the truck was repairable. We have yet to hear from his insurance company since learning that the car was totalled.

But, now that the car is totalled, I fully expect a lowball settlement offer from them.

So, any advice on how to maximize the value that we get for the truck?

If it matters, we are in NC. His insurance company is AIG, and ours is GEICO.

Much much thanks in advance.

[MikeVic]

That first sentence is excellent, if taken out of context.

[miked]

Did the guy get cited for rear ending your wife (another great sentence)? I got my car totaled in Boston and it was a battle, just make sure you get your own pictures, an estimate for the damages (even if it's a total) and see if your insurance will help pursue them. Having your own copies of everything is essential, as Travelers insurance or something really tried the screw job on me with false information and bogus "statements" and such. I ended up having to take them to small claims court where they admitted they had no such evidence.

[SnDvls]

I'd start out by doing some research on my own now...look in auto trader & car lots for a car that is similar make/model features condition and see what the "market value" is so when an offer is made you know where it is in relation to what is out there now. If you feel it is too low then you always have the option of going to arbritration. You will have facts and figures to back up your findings.

[CU Tiger]

Be prepared for a battle. NC doesn't award fault only state facts and let insurance decide. One of the girls who works for me just went through this same drama..

It took her 2 months, but she did get a fair settlement (the week after the lawyer called)

[CU Tiger]

Oh yeah, if they are accepting fault, Id start talking about your wife's neck pain. They will settle quickly

[RendeR]

Remember also that while she may feel fine now, in a few days she may curl up in a ball of pain and muscle spasms. The shock of the accident sometimes causes the body to mask the real pain of soft tissue injuries until the mind feels secure enough to truly relax and then the fun begins.

[Bee]

Just curious, but is this the first time your wife has been rear-ended?

[Logan]

Thread closing in 3, 2, ...

[Chubby]

Albion - sounds like what happened to me in July

Don't be afraid to turn down the 1st offer for the truck and say you are looking for more based on the car's value (do research first)

You will most likely be given a $$$ amount from both your insurance and their insurance. If you pick your's, then they go after the other insurance to get it back. You should also be getting any deductable back if it's all the other person's fault.

Don't forget to thrown in the fact that you are a lawyer :)

[Flasch186]

get a lawyer.

[Swaggs]

I used to be a claims adjuster.

The way we handled a total loss was to survey the area for similar make, model, mileage vehicles that are for sale and then averaging them together and making minor adjustments for things like newer tires, added equipment, etc. The vehicle is considered a total loss if the estimate from the damage is 75-80% of the surveyed value of the vehicle (the thinking is that it is likely, when a vehicle is damaged that badly, that there is underlying damage that will be uncovered once the body panels are removed and it would drive the price up).

What you can do is educate yourself by collecting prices from online, newspapers, and autotrader-like magazines. If their price seems low, ask them to provide you with a list of like-vehicles that they found available, as you have a list of several vehicles that are worth more. Most adjusters will take your findings into consideration when trying to settle. And believe me, most adjusters will want to cut a check and be done with you ASAP if you do not have an injury. Most customers I dealt with were fairly pleased with their settlements because, unless your car is relatively new and/or they had a ton of negative equity in the vehicle, getting retail price money (as opposed to trade in money) is nice if you are in the mood for a new car and, if you are not, you have a list of comprable vehicles available.

Getting a lawyer is not worthwhile unless problems arise. It will just be an added expense that you can avoid by doing a bit of research.

[Swaggs]

I'll also add that several states strictly use NADA (or a similar publication) value to settle for total losses. I'm not sure if NC is one of them, but that makes things pretty uneventful, as well.

[JPhillips]

I'd also advise you to get a lawyer. I've been involved in two total loss accidents that were the other party's fault. Both times I wanted a fair value for my car(say the average of ads in a sixty mile radius), medical bills covered and a rental car. Both times it was like pulling teeth to get anything greater than 70% of what I was looking for.

As far as I could tell there is no place for an honest individual in the process. Their job is to limit payoffs and they'll stick to that mission regardless. Personally I don't think it benefits you to do it yourself.

[duckman]

Don't sign anything that says that you can't come back asking for medical expenses if your wife begins experiencing neck/back troubles from the accident. It's standard procedure for "noninjury" accidents.

[albionmoonlight]

Guy just made an offer. It's actually pretty fair, based on what I see from the tax assessment of the vehicle, NADA, and Kelly Blue Book. I found some higher numbers out there, but I am thinking that I am going to accept it. The slight difference (< $200.00) between his offer and what I consider to be fair based on a morning of research isn't worth my time to argue. Which means that he managed to hit the sweet spot.

I'm just glad that he didn't come in $2,000 less than I expected and force me to get all lawyer on his butt. Because, despite the fact that I am actually an attorney, I'm really a milquetoast at heart.

Thanks to all for your advice.

[Chubby]

Guy just made an offer. It's actually pretty fair, based on what I see from the tax assessment of the vehicle, NADA, and Kelly Blue Book. I found some higher numbers out there, but I am thinking that I am going to accept it. The slight difference (< $200.00) between his offer and what I consider to be fair based on a morning of research isn't worth my time to argue. Which means that he managed to hit the sweet spot.

I'm just glad that he didn't come in $2,000 less than I expected and force me to get all lawyer on his butt. Because, despite the fact that I am actually an attorney, I'm really a milquetoast at heart.

Thanks to all for your advice.

Now you can get a new truck AND a new laptop :D

[cthomer5000]

You're on quite a hot streak lately, eh?

[M GO BLUE!!!]

I used to be a claims adjuster.

The way we handled a total loss was to survey the area for similar make, model, mileage vehicles that are for sale and then averaging them together and making minor adjustments for things like newer tires, added equipment, etc. The vehicle is considered a total loss if the estimate from the damage is 75-80% of the surveyed value of the vehicle (the thinking is that it is likely, when a vehicle is damaged that badly, that there is underlying damage that will be uncovered once the body panels are removed and it would drive the price up).

What you can do is educate yourself by collecting prices from online, newspapers, and autotrader-like magazines. If their price seems low, ask them to provide you with a list of like-vehicles that they found available, as you have a list of several vehicles that are worth more. Most adjusters will take your findings into consideration when trying to settle. And believe me, most adjusters will want to cut a check and be done with you ASAP if you do not have an injury. Most customers I dealt with were fairly pleased with their settlements because, unless your car is relatively new and/or they had a ton of negative equity in the vehicle, getting retail price money (as opposed to trade in money) is nice if you are in the mood for a new car and, if you are not, you have a list of comprable vehicles available.

Getting a lawyer is not worthwhile unless problems arise. It will just be an added expense that you can avoid by doing a bit of research.

Excellent post. Gracias!

[sterlingice]

Excellent post. Gracias!

What he said- that's a great post into the world of insurance.

Myself, I actually had a car totaled a couple of years ago when I was driving on an icy day and went over a median, taking out 3 of my tires and my suspension. It took them a couple of days to get back to me that it was totaled but I got to keep the rental car paid for by insurance and the settlement was definitely fair. In the long run, it might have been the best thing as it was a 6 1/2 year old Grand Am which just went out of warantee and I was having to put some significant bucks into repairs for it.

The way this was handled and the advice I can get from my agent (well, not so much my agent but the people who work in his office) are why I won't be changing insurance companies for quite a while (State Farm) even tho I probably could get cheaper rates. I actually feel I get what I pay for.

There's the side story that I was without a job and got in an accident on the way to a job interview that made this much worse but the experience itself wasn't that bad.

SI

[albionmoonlight]

You're on quite a hot streak lately, eh?

Maybe if I'm really lucky, my house will burn down next ;)

[Andiamo]

I actually had to go throught this issue this summer. Someone hit me on the freeway, sent me head-on into the medean, totalled my car and RAN! We were very lucky to be alive!

Anyhow, I loved my car and started looking around for the same make and model even the year. The insurance company said they look in your area for that information and would give you the price of the car as if you were buying it from a private owner, not a dealership. So by some miracle, I found the exact same car almost down to the milage (it was within 1000 miles) and AAA gave me exactly what the owner of the car wanted. He was nice enough to knock off a couple hundred bucks (after I got my check from AAA) because he knew I was going to have to pay for reg and taxes.

So I would start by finding comps on craigslist etc so you have a good idea in terms of what you will probably be getting and something to argue with if you feel like you're getting low-balled. You can email me if you want more specific info.

[molson]

I can't believe so many people think someone should hire an attorney for a car insurance issue. I guess the legal job market isn't as bad as they say.

[Swaggs]

I can't believe so many people think someone should hire an attorney for a car insurance issue. I guess the legal job market isn't as bad as they say.

Agreed. Cars are pretty easy to to put a dollar value on and insurance companies want to get their claims settled and get people out of rental cars quickly, so they usually hustle to get them settled. . It gets more difficult when injuries are involved, because they are obviously harder to put a dollar value on. But, most insurance companies will settle the property damage separately from a personal injury claim. If an adjuster is trying to decline payment on your propertay damage until you settle on an injury claim, that could be considered bad faith and you may need to look into a lawyer at that point.

[Flasch186]

when i totalled my car back in the day, the guy showed up and gave me a once over and offered me a check for $500, for my pain and suffering. Luckilly I didnt deposit the check thus waiving my rights to any compensation for my medical bills. There is a reason that they want to show up within 24 hours....your pain hasnt showed up yet. 3 days later I couldnt move.

[Swaggs]

when i totalled my car back in the day, the guy showed up and gave me a once over and offered me a check for $500, for my pain and suffering. Luckilly I didnt deposit the check thus waiving my rights to any compensation for my medical bills. There is a reason that they want to show up within 24 hours....your pain hasnt showed up yet. 3 days later I couldnt move.

A pain and suffering settlement is different than medical payments.

The medical payments are easily measured and priced. The pain and suffering is more about trying to put a price on the discomfort and how put out you are by injuries. There are release forms for each and they are usually separate (IE: $ value for days missed from work, $ value for what you agree the sore back you had for two weeks was worth, etc. would be pain and suffering, while a trip to the chiropracter three times a week costs x dollars would be medical bills).

A good adjuster wouldn't try to settle the pain and suffering portion until all medical treatment is completed. You were smart to hold off. Folks should wait until they have completed treatment before beginning to evaluate what pain and suffering is, but some people see the dollar signs beforehand and want the quick cash.