is this a good offer from at fault driver insurance?

[Special Agent]

a school bus backed into me about 2 weeks ago and bus driver was charged with accident.their insurance co. Premier P&C sent their estimator/adjuster to my house about 10 days ago to look at car and they called yesterday saying it was total loss and offered to pay the trade in value/whole sale value( according to KKB this is about right) of 6700 plus tax and they take the car or 6200 plus tax and i keep the car.Car drives fine but can't open passenger door and broken headlight and crunched hood but not sure of damage under the hood since hood wont open.Premier said they will pay rental until until friday but i will need more time to buy a new car or get mine fixed.What is reasonable to ask for in this case.Does the fact that car had very low mileage for a 2016 and brand new tires and battery within the last year matter at all?

 

[adjusterjack]

1 - Keeping the car is a bad idea. You'll end up with a salvage title that means you cannot drive it until it's repaired and then you get a rebuilt title which will affect any future sale value and give you trouble getting insurance.

Florida Salvaged Vehicle Regulations | DMV.ORG

Information, regulations, and DHSMV resources regarding salvaged vehicles in Florida. Find out how to register and rebuild your salvage car.

www.dmv.org

2 - Trade-in or wholesale value is a lowball bullshit offer. The industry standard is ACV (Actual Cash Value) which is what comparable cars sell for in your area. Selling prices are higher than trade-in/wholesale prices but lower than asking prices. Look for cars on Craigslist, Auto Trader, carsguru.com, that are the same make, model, submodel, features, mileage, and condition. Take an average and ask for that amount. You'll be asking high but that gives you room to negotiate. Submit copies of the ads along with your request.

3 - Tires and batteries are maintenance items. Not typically included in ACV but submit the receipts and ask for it anyway. You won't get all that you want but the adjuster may sweeten the pot just to get the claim closed and off his desk.

4 - The reason insurer's cut off the rental a few days after the offer (some don't allow that long) is so they aren't giving the claimant time to figure out how to fight the offer while the insurer pays for the rental. Ask for an extension for a few more days but resign yourself to paying for your own rental after Friday if the answer is no.

5 - If you can't get what you are entitled to from the other driver's insurer you have the option of suing the driver in small claims court and proving the amount you want. That could take months and you risk traffic citations if you drive around with a broken headlight. The other option is your collision coverage, if you have collision coverage. Your own insurer is contractually obligated to treat you better than the other driver's insurer is. If you don't have collision coverage, you'll have to continue dealing with the other insurer.

6 - Never threaten to sue or get a lawyer. For one thing, adjusters hear that every day and it means nothing. For another, lawyers don't take property cases and if they did you wouldn't want to pay their fees. If you decide to sue in small claims court just do it.

 

[Special Agent]

1 - Keeping the car is a bad idea. You'll end up with a salvage title that means you cannot drive it until it's repaired and then you get a rebuilt title which will affect any future sale value and give you trouble getting insurance.

Florida Salvaged Vehicle Regulations | DMV.ORG

Information, regulations, and DHSMV resources regarding salvaged vehicles in Florida. Find out how to register and rebuild your salvage car.

www.dmv.org

2 - Trade-in or wholesale value is a lowball bullshit offer. The industry standard is ACV (Actual Cash Value) which is what comparable cars sell for in your area. Selling prices are higher than trade-in/wholesale prices but lower than asking prices. Look for cars on Craigslist, Auto Trader, carsguru.com, that are the same make, model, submodel, features, mileage, and condition. Take an average and ask for that amount. You'll be asking high but that gives you room to negotiate. Submit copies of the ads along with your request.

3 - Tires and batteries are maintenance items. Not typically included in ACV but submit the receipts and ask for it anyway. You won't get all that you want but the adjuster may sweeten the pot just to get the claim closed and off his desk.

4 - The reason insurer's cut off the rental a few days after the offer (some don't allow that long) is so they aren't giving the claimant time to figure out how to fight the offer while the insurer pays for the rental. Ask for an extension for a few more days but resign yourself to paying for your own rental after Friday if the answer is no.

5 - If you can't get what you are entitled to from the other driver's insurer you have the option of suing the driver in small claims court and proving the amount you want. That could take months and you risk traffic citations if you drive around with a broken headlight. The other option is your collision coverage, if you have collision coverage. Your own insurer is contractually obligated to treat you better than the other driver's insurer is. If you don't have collision coverage, you'll have to continue dealing with the other insurer.

6 - Never threaten to sue or get a lawyer. For one thing, adjusters hear that every day and it means nothing. For another, lawyers don't take property cases and if they did you wouldn't want to pay their fees. If you decide to sue in small claims court just do it.

really appreciate the info.the only reason i was thinking about keeping the car is because i could buy it for the 500.00 scrap value via taking a reduction in claim payout and it still drives and only has 66k miles on 2016 model year so i thought i could sell it easily for 1-2k.I thought that if claim wasn't paid to fix it and insurance didn't take possession of it wouldn't be a salvage title? This is in Florida.

 

[adjusterjack]

Based on that web page I posted, it's possible that the insurer will apply for the salvage title and it will be out of your hands.

Besides, the rules on that page are based on statutory requirements. The insurer, and you, will have to comply with them.

OTOH, you may still be able to 1-2k even with a salvage title, especially with the low mileage.

 

[fed up]

Also many states have restrictions on "salvaged vehicles" including
1) NO
2) Only able to register for 12 months
3) Full State Inspection. Can turn up issues which you consider cosmetic.
4) Cannot sell except for parts

 

[Allen Trent]

You'll end up with a salvage title that means you cannot drive it until it's repaired and then you get a rebuilt title

Not always true. I have bought back to cars for the salvage value at claim time & both have a regular title. In michigan, salvage titles are only forced on cars that are less than 5 years old & meet the % of values requirements

 

[adjusterjack]

Fed Up mentions many states and you mention Michigan.

Neither of which is any help because Special Agent's profile has him in Florida.

https://www.insurance-forums.com/community/members/special-agent.104433/#about

Which is why I posted the Florida DMV page on salvage vehicles.

 

[Riskfreak]

a school bus backed into me about 2 weeks ago and bus driver was charged with accident.their insurance co. Premier P&C sent their estimator/adjuster to my house about 10 days ago to look at car and they called yesterday saying it was total loss and offered to pay the trade in value/whole sale value( according to KKB this is about right) of 6700 plus tax and they take the car or 6200 plus tax and i keep the car.Car drives fine but can't open passenger door and broken headlight and crunched hood but not sure of damage under the hood since hood wont open.Premier said they will pay rental until until friday but i will need more time to buy a new car or get mine fixed.What is reasonable to ask for in this case.Does the fact that car had very low mileage for a 2016 and brand new tires and battery within the last year matter at all?

Hi Special Agent, Special Agent Elliot "Riskfreak" Becker here.

Alright, let's cut through the nonsense here. A school bus hit your car, it wasn't your fault. That means you're in the driver's seat, not them. Their offer? It's a starting point.

First, about the value. The low mileage, new tires, and fresh battery? Absolutely matters. Those details add value, and you need to remind them of that. If it's not factored in their offer, tell them to step up their game.

Next, time. You need a rental beyond Friday? That's on them, not you. Politely—but firmly—demand an extension. It's their responsibility to keep you moving while you sort this out.

Now, here's the kicker. If you love your car and want to keep it, make sure their payout for keeping the car reflects fair compensation for its remaining worth and the cost to fix it. Don't let them lowball you into thinking you're out of options.

Final thought? You hold the power here. Don't settle for anything less than what you deserve. And if they push back? Just remember: the Riskfreak has your back. Now go get what's yours.

 

[adjusterjack]

And for Christmas Santa will bring you a bicycle, a train set, a puppy, and best of all, world peace.

 

[Riskfreak]

And for Christmas Santa will bring you a bicycle, a train set, a puppy, and best of all, world peace.

Sounds like someone can't handle the freak