Negotiating an insurance claim?
 

Have a question about insurance...

Was in my first ever accident Christmas Eve. No one hurt which is the important thing but our suburban was written off.

I have been looking for a comparable replacement and know pretty close the current value of the car as well as what they are selling for locally. Insurance company has offered a payout which I believe is 1500-2000 lower than what I have in mind and from what I can see comparable units are listed for. I asked today to speak to an adjuster to make a case for getting a bit more than the original offer. The guy I spoke to basically said that was a take it or leave it offer and wouldn't look at the comparables that I had ready to provide. I'm not trying to screw them over I honestly can't find the same vehicle for the price they're willing to pay. Is it normal for them to not negotiate past the first offer? I get they need to protect their interests however can they just tell you what they'll pay without recourse and you are bound to take it? I've never had to deal with this so I'm not sure how to go about it.

Thanks

Who's fault?

You don't have to accept their initial offer at all. However, negotiating could take a long time, as insurers are notorious for ragging the puck (they don't care how long it takes, but they know you do!). If you're willing to battle it out over $1500, then hold your ground and they should come around, but you could go crazy while in limbo. You can also hire a public adjuster to help you negotiate your claim, but they charge an hourly rate usually a little less than a lawyer.

Remember mileage and trim lines need to be identical when finding comparable vehicles for pricing purposes. If you can't find anything in Canada, look in the states and then convert the dollar over. Sometimes you can also negotiate to keep your salvage titled vehicle for spare parts, and that might help make up for the $1500 difference if you look at it that way.

It was my fault.

Their comparables are not exactly the same trim,etc in each case neither and they've made adjustments as needed up or down. Some of the comparables are from the typical used car lot though so who's to say what condition those are truly in?? I did call one of the dealers today that was listed for one of the comparables, the unit had been sold already. It was listed as the closest comparable however it was an imported US vehicle and while it had leather seats, they weren't heated leather. Little things like that can affect value in my opinion.

If I could at least talk to someone that would hear me out I'd be happier than the take it or leave it speech I got today. I am a personal property appraiser and an auctioneer so I do know just a little bit about how valuations work. I just haven't had the pleasure of dealing with insurance before...

Try to request to speak with their supervisor. Keep going up the chain as needed and documentation is key.

Then review who you are with do you want a repeat experience in the future.
In the past I had the same issue with intact so I changed to desjardins.
I found they were easier to deal with than my own company after an accident and they were the insurance company at the time for the guy who hurt me

X2 Just tell them all you want is to replace with same vehicle. Most likely they are looking at black book value and not replacement.

Total negotiation, they want to limit their payout to 70% of what they figure the replacement cost will be.

I would make your broker negotiate for you. He has more pull.

Explain your concerns, and let him handle it for you, its his job.

Great thanks everyone for your input. Appreciate the information.

I suggest going to the agent you purchased your policy from. If you have been a long standing loyal client put some pressure on them to speak to the underwriter on your behalf. I have done so with good results. Another thing I have done when in your position is to put the onus on them to fine you a comparable vehicle with comparable mileage and in comparable condition. When they realize it can't be done they may change their attitude. Be tough, good luck.

if you want to sell it to me, I might be interested depending on year,Kms and damage.
And location..

Talk to your Agent. Remind them that You went to them, they didn't come to you. At fault or not, you pay for insurance. If you can not get along with the appraiser/adjuster tell YOUR Agent, they will (possibly) designate someone else. Too many times the adj/apr's think they are important and powerful, and abuse the system to make themselves look good. "LOOK HOW MUCH I SAVED US TODAY"

Hopefully they assign someone decent, and remember do not back down. They will generally lowball everytime. Be nice. Force will get you nowhere with these guys.

My buddy has had to deal with two adjusters trying to give him less than his vehicle was worth after being written off. Always gets much more than it was worth, almost simply by being a total uncooperative **** to the adjuster. Seriously just gives em the gears and tells them that he knows that they screw people for a living and then proceeds to fight them over every littl thing. Eventually the adjuster gives in and he gets a good deal.

I don't know how well this approach would work for anyone else, truthfully I'm skeptical about it but he got $8000 for a 2wd 90s Dodge diesel that was beat up so there might be something to it.

do you have replace insurance? I thought they always use the black book amount unless you have replace insurance on your policy

PGH pretty much sums it up. If you plan to dispute it which you are totally allowed to do, you'll need a third party to dispute your case as will the unsurance company. It will need to be someone that has valid credentials in vehicle sales or appraisals. Time will not be on your side. Call the ombudsman office for more info

I met a gentleman form Texas while on vacation, and he is a public adjuster and loss appraiser. He was an ex insurance adjuster, that you could hire to fight the insurance company for a more suitable payout. I'm not sure we have those type of adjusters up here, but it would be worth looking into.

If you are truly convinced that they are out of bounds on a vehicle of the identical trim, age and mileage.
Contact the Superintendent of Insurance at Alberta Finance and let them deal with it.
Showing the Superintendent any receipts that would increase the value of your vehicle such as recent new tires-could be very helpful.

Also be aware that most companies stop rental replacement coverage once you have received the offer. And often before any monies have been received-Be aware