Tim Wasmer

I have never been thru this before. It looks real strong that my Cayenne will be totaled. That being said how do they determine the value of the car? I have also been told the amount should inclue my Taxes and Registration (which I just paid a few weeks ago.

Thanks for the Advice.

Tom M

More or less, what you can recoup will be determined by how hard you negotiate with the at fault driver's insurance company. Your own insurance company "should" be on your side but I've always found that they just want you to settle with the other carrier. No real surprise there as they're basically all in bed together on the topic. As far as the valuation goes they'll pretty much start with the book value so if they are selling above that in your area it'll be up to you to make the case.

I was able to get a couple of hundred more out of a settlement many years ago after my car was totaled & I'd just put new tires on it a month earlier. The other option I had was to pull those off and put something else on it & then sell them. In another situation I pushed for diminished value on a recently purchased car I had that got sideswiped due to an accident that I wasn't directly involved in. That negotiation took a couple of months but the damage was relatively minor and I was back on the road a week later.

BenCD

Yup, like motor vehicle dealers, they all use auction values/what the vehicles are selling for in real-time and it will be right around a book value, there are so many books, NADA/KBB . . . auctions. The insurance company has their sources for the values for every single thing out there that they insure.

It is so true that one has to refuse their first lowball offer. They will come back with a better number so it is true that it is up to the individual to refuse the offer(s) and ask for more. What the same vehicles are selling for/replacement value.

chsu74

Receipts

mafpolo

Negotiate and don't hear the word "no." I once negotiated and still wasn't happy. I finally told the adjuster, "Just go buy me a car, same year, same color, and with similar mileage similar options. If you find one at a steal, you keep the difference." He called back after speaking with his manager, and they offered $4,500 more.

jtakhtalian

Absolutely love it!!!

zamorskii

In my case they presented me with 2-3 comps with same options and +/- 2-5k miles that were sitting at local dealer lots. Then they took off my deductible and added back pro-rated amount of taxes and registration. If your market does not have good comps or they are farther away, that's where more of negotiations start to happen, I suppose.

captain911

Hi Tim,

Sorry to hear about your Cayenne and most importantly I hope you and anyone else involved in the accident are fine.

In Maryland, once the repairs reach 75% of the value of the vehicle, the vehicle is deemed a total loss. (There are some exceptions such as paint costs as compared to parts repairs but that would not apply in your case.) This does not mean you will receive only 75% of the value of the vehicle.

The question I am always asked is "what is my vehicle worth?" And the answer I suggest is, "what are vehicles selling for in the area that are as comparable (miles and condition) to your vehicle?" This becomes the baseline.

Next, I would recommend reviewing all of your maintenance records for the vehicle (with an emphasis on tires, brakes, battery, recent major service completed, ect.) This can be used as part of the additional negotiation for increasing the value over those found on autotrader, cargurus, ect. I would forward all records to the adjuster for their review.

Finally, add in the cost of taxes, title, tag work, and state inspections (if needed) that are required in your area.

Good luck!

Tim