Aldeer.com Forums Alabama Deer Talk Aldeer General Forum Insurance payout on totaled car

My mother totaled her 2020 Kia Sorento recently. She bought the car brand new and it had 7k miles on it in 5 years. Progressive has calculated 18k for payout. She is 78 so I’m trying to handle everything. I asked the adjuster how she came to those numbers and it was the generic from local whatever. Thoughts?

Tell her to find another car comparable to it and see what it's selling for. They didn't take into consideration that it was practically a brand new 5 year old car definitely do not accept their first offer. There's no way she can replace it for that amount.

What’s the KBB? What are comps priced at on Autotrader.com?

Go to JDPower ( formerly NADA ) add your options, mileage, etc. If it's in good shape they should pay out the clean retail number minus any deductible ( if there is one ).. Unfortunately, this is a negotiation. Don't settle until they get you the number that you're looking for. If the play hardball, then make them produce a price for a comparable vehicle within reasonable distance, that has a clean carfax. They usually cave at that point.

I was dealing with the same thing until earlier this week. My truck was totaled in a wreck around Thanksgiving, the at fault party's insurance doesn't want to give me nearly (almost 10k shy) what it will take to get a comparable vehicle. I even paid for a 3rd party appraisal that came back in line with what I thought it would take to replace it. They still refused. I finally threw my hands up and gave it to a lawyer to handle. They'll shaft you if they can.

They don't make money by paying claims.

I've had to negotiate 3 settlements in the last 10 years. Every time they tried to low ball me and every time I got at least what I wanted and once I got way more. They will likely say that they don't pay replacement cost but I told them their client hit me and I refused to let their clients mistake cost me a single penny. I got my own comps from Cargurus and AutoTrader and made sure the comps were for southern vehicles that had at least the same options. They balked but I told them they could either pay it or I'd file a complaint with my state insurance board. I told them I'd only communicate through email because I wanted a record of everything. Twice they tried to stall me out but I told them I had another vehicle and could wait as long as needed. They paid what I wanted every time.

What does the policy say? Replacement or fair market value??

Mention contacting the Alabama Insurance Commission. They REALLY don't like that. Just that mention helped me when the at fault driver had Allstate and they were lowballing me.

Good luck with all of this.

For a basic LX Sport model with standard spec; $18k is a fair price according to KBB. Could be bit more if higher spec model.

most ins. companies use NADA guide and not KBB

in 2019 i got hit in a 2006 silverado ext cab. 256,XXX miles on it and paid off. it was totaled.

when ins called me said they were sending me a check for 15,000 i was quite surprised

Have an independent appraiser come out. My truck went from being worth 5k to over 15k thanks to one.

Thank you. I appreciate all the advice given.

Bringing this back up anyone have any recommendations for an appraiser? My son totaled his truck out that we totally restored and of coarse they aren’t offering much and I may just be out of luck but thought I would try. He was not at fault but other car didn’t have insurance so dealing with mine.

The acv value of an older vehicle that is restored will not come close to what you have in it. The only way to insure such a vehicle is to do it on an agreed value basis or "stated amount" basis. Not all companies have this capability. Otherwise most likely out of luck collecting much.

Kinda what I figured thanks.

If I ever restore a classic again, or just simply have a great example of a survivor, I will go with a declared value on my insurance policy.

Mansfield my son’s truck matches your son’s as far as being totaled out. Looks just like it in the front end. His was totaled on the interstate due to a dead tree falling in front of him going 75. Fortunately he was not hurt and it was before daylight so not many people on the road. Worst part was his mother had dropped the coverage to liability about 3 weeks earlier so now it sits on my brothers back 40 until I decide what to do with it. Part it out or sell it for $500 to the scrapyard. Glad your son is ok and good luck with the truck.

He was fine just pretty upset this was also on the interstate before daylight and it was raining. A car spun out and he just left it sitting sideways in the middle of the road and my son smoked it. The frame is all twisted up but I bought a parts truck with a good body and frame and will just make 1 truck from 2 will just take some time.