My daughters 2003 BMW csi convertible got side swiped yesterday while parked. I am guessing it might be totaled and am wondering how to determine the real value of the car before the ins company gives me an offer.
Any ideas?
Any ideas?
Insurance claim
- Thread starter ctrawick
- Start date
The insurance company will likely use a third party named CCC to do the valuation. They track sales of similar vehicles in your region. I recommend you do all the research you can on your end. KBB, Edmunds, NADA, search autotrader for similar vehicles in your area. Even eBay. You will be able to see the recently sold vehicles on eBay if you log in.
Take note of any improvement or significant maintenance items you have done recently. They will add some value. But you will have to mention them. The total loss adjuster will most likely only have seen pics of the car so it will be up to you to paint the rosiest possible picture of the condition of the vehicle. He will have some flexibility in his offer. My daughter totalled her car last year. We had done a lot of work to it from a previous accident with my other daughter. When i pointed that out to the adjuster, he increased his offer several hundred dollars. But I had to tell him everything we had done to the vehicle. It didn't hurt that I had receipts to back it all up.
There is plenty of info on the internet about CCC if you google it.
Take note of any improvement or significant maintenance items you have done recently. They will add some value. But you will have to mention them. The total loss adjuster will most likely only have seen pics of the car so it will be up to you to paint the rosiest possible picture of the condition of the vehicle. He will have some flexibility in his offer. My daughter totalled her car last year. We had done a lot of work to it from a previous accident with my other daughter. When i pointed that out to the adjuster, he increased his offer several hundred dollars. But I had to tell him everything we had done to the vehicle. It didn't hurt that I had receipts to back it all up.
There is plenty of info on the internet about CCC if you google it.
I had a car totaled and Farmers had their own people. They advised me of what they thought and I was able to negotiate it higher based on comps and how the car was equipped, etc etc. I think it ended up being a fair price in the end and maybe a bit fairer for me. I think if you can reasonably negotiate with them they will do the same. I don't think they are out to beat you up. I've got a car in the shop from an accident right now and the shop only uses new parts and my insurance won't do that...overhauled, or exchanged prices. They won't do the OEM prices. I am going to change my policy now to cover that and I bet it's not much more than a hundred bucks every 6 months. Off subject but could come in to play for you. Of course, most shops don't even do OEM parts so it probably won't even come up. The repair facility warned me this would happen and sure enough my adjuster called me and they are trying to work things out (compromise).
Are you making a claim against your own insurer or the insurer of the person that sideswiped your daughter?
"The shop only uses new parts." Huh?
I've been in this business 25 plus years on both insurance and the body shop side and never once heard of that.
Your insurance doesn't pay OEM prices? Again, huh?
"Most shops don't do OEM parts."
Completely false.
A shop won't do OEM if insurance companies force aftermarket. Some do, if the vehicle is several years old, but all of the major insurance companies also figure used OEM. State Farm, Farmers, American Farmers & Ranchers, FarmB, Progressive, Geico, etc..
I'm just telling what actually happened....don't know about any of that other stuff. Just the facts ma'am.
