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Re: How do ins companies figure the value on a totalled car?
I have to go tot he dentist shortly. I will send you my e-mail address. There are a number of things, most importanlty will be the type of policy you have. SOme policies only cover for stock and ANY add ons or performance parts ect you would have had to declare on an endorsement and pay extra. They will take a market survey in your zip and go broader if need be. If you try to argue the color of the paint factor it migth be weak unless there is a certificate or something from the factory showing that your car is unique ect. There are a number of things that will impact and I would be happy to assist you and poitn out things that might help your arguement on raising the value. The adjuster will base the data they input for the initial evaluation on the field adjuster's comments and they are human and miss things. Unless you car is show worthy or nearly perfect it will be rated as average.
Before you jump the adjuster's throat, have him or her fax the detailed report from CCC or whoever they use to you and look over everything on the details about your car to make sure everything is included for consideration. Throw Blue Book out the window because it will be a useless arguement, Kelly is more about a region and not current as the reports given to the insurance company.
There is too much to discuss on this thread and I don't have enough information yet to help you. By the way I hate dealing with total losses because people think I am out to screw them and that they think the asking price from dealers is the actual value or they think what they owe is the worth of it.
If you have gap coverage and owe money, put them on notice. Chances are you will be upside down.
p.s. I am not aware of the insurance companies offering auction prices because those are closed to the public. We base it one what is available to the public. I think that would be going to far to offer auction value...........we aren't those shady car dealers you know!
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