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Old 01-11-2017, 08:26 PM
horse_men horse_men is offline
 
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Default 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
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Old 01-11-2017, 08:38 PM
coastalhunter coastalhunter is offline
 
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Who's fault?
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Old 01-11-2017, 08:41 PM
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PGH PGH is offline
 
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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.
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Old 01-11-2017, 08:55 PM
horse_men horse_men is offline
 
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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...
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Old 01-12-2017, 03:24 AM
FishingMOM FishingMOM is offline
 
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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
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Old 01-12-2017, 05:13 AM
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Kim473 Kim473 is offline
 
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Quote:
Originally Posted by FishingMOM View Post
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.
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Old 01-12-2017, 09:02 AM
bowshot bowshot is offline
 
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Total negotiation, they want to limit their payout to 70% of what they figure the replacement cost will be.
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Old 01-12-2017, 05:41 PM
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omega50 omega50 is offline
 
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Quote:
Originally Posted by horse_men View Post
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
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
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Last edited by omega50; 01-12-2017 at 05:46 PM.
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