by ddykstra » Mon Mar 02, 2009 11:48 pm
Hey everyone,
I've been trying to read old threads to find an answer to my situation, but I can't seem to figure it out. With all of the expertise on these boards hopefully someone will know what I should do.
My situation is as follows:
I just had my brand new Mazda 3 2009 with 120 miles hit by an insured driver, her company has accepted liability and deemed the car a total loss. Thankfully no one was injured.
My problem is that I can't seem to get the insurance company, Endeavor, to give me an offer without my having the car dealership fax them the bill of sale. I realize its a new car and they might have some trouble finding a fair value using their computer models. So I had the dealership fax them the MSRP invoice. Endeavor initially said this would be fine, but upon receiving it, promptly offered me $5k less than MSRP and demanded the bill of sale. When I requested to talk to the supervisor's supervisor, they even had the President of the company yell at me on the phone to send them the bill of sale. They sent me a threatening letter in the mail on the 26th and I received it today. I am starting to feel very pressured and uncomfortable.
My feeling is that if I send the bill of sale I am absolutely 100% guaranteed to get a slightly low offer that will be high enough that I will have no choice but to accept it. I would send it, assuming it my legal responsibility, except for the following:
1. I also filed with my insurance, USAA, before Endeavor accepted liability and they required no documentation from me.
More importantly:
2. If I had awful credit and overpaid for a new car, the insurance companies would absolutely not pay me what I paid for it. They would go find out what the car is actually worth and pay me that. They cannot have it both ways.
Am I am legally entitled to the actual value of my vehicle, despite whether or not I was able to negotiate for a slightly better price than sticker offer or not. Isn't my Bill of Sale private information? These are questions I am beginning to doubt myself on.
The very helpful floor manager at the Mazda dealership has suggested I threaten to report Endeavor to the State Board, and does not think I should send in the Bill of Sale. I also am thinking about asking Endeavor to use the program's values for the 08 model to make me an offer. I seriously doubt they will do anything for me without the bill of sale however. They are like a broken record.
Advice and feedback would be greatly appreciated!
I've been trying to read old threads to find an answer to my situation, but I can't seem to figure it out. With all of the expertise on these boards hopefully someone will know what I should do.
My situation is as follows:
I just had my brand new Mazda 3 2009 with 120 miles hit by an insured driver, her company has accepted liability and deemed the car a total loss. Thankfully no one was injured.
My problem is that I can't seem to get the insurance company, Endeavor, to give me an offer without my having the car dealership fax them the bill of sale. I realize its a new car and they might have some trouble finding a fair value using their computer models. So I had the dealership fax them the MSRP invoice. Endeavor initially said this would be fine, but upon receiving it, promptly offered me $5k less than MSRP and demanded the bill of sale. When I requested to talk to the supervisor's supervisor, they even had the President of the company yell at me on the phone to send them the bill of sale. They sent me a threatening letter in the mail on the 26th and I received it today. I am starting to feel very pressured and uncomfortable.
My feeling is that if I send the bill of sale I am absolutely 100% guaranteed to get a slightly low offer that will be high enough that I will have no choice but to accept it. I would send it, assuming it my legal responsibility, except for the following:
1. I also filed with my insurance, USAA, before Endeavor accepted liability and they required no documentation from me.
More importantly:
2. If I had awful credit and overpaid for a new car, the insurance companies would absolutely not pay me what I paid for it. They would go find out what the car is actually worth and pay me that. They cannot have it both ways.
Am I am legally entitled to the actual value of my vehicle, despite whether or not I was able to negotiate for a slightly better price than sticker offer or not. Isn't my Bill of Sale private information? These are questions I am beginning to doubt myself on.
The very helpful floor manager at the Mazda dealership has suggested I threaten to report Endeavor to the State Board, and does not think I should send in the Bill of Sale. I also am thinking about asking Endeavor to use the program's values for the 08 model to make me an offer. I seriously doubt they will do anything for me without the bill of sale however. They are like a broken record.
Advice and feedback would be greatly appreciated!
Posted: Wed Mar 04, 2009 05:56 pm Post Subject:
Why have they never mentioned the term actual cash value to me?
No idea, other than you've got a moron adjuster...I have NEVER heard of a carrier NOT settling a total on ACV bases...(other than first party 'if' it's a stated amount )....all companys settle total losses based on ACV...Is this a normal manner for insurance companies to act?
NOSeems awful especially considering we are all legally required to use their product!
'legally required to use" who's product? I have no idea what you mean by that..Posted: Wed Mar 04, 2009 06:47 pm Post Subject:
I just meant that we have to buy car insurance, mandated by law. I agree with the public policy, I just have had quite a headache with my two total loss experiences. The worst part is I cant really think of a better alternative then the current system. Maybe some sort of neutral third party to negotiate these things. As if that "neutral" thing ever works! I am just thinking of the SEC and FDA etc.
I reported them to the Texas Dept of Insurance. I will also call them back and insist ACV be calculated.
Thank you for your help.
Posted: Wed Mar 04, 2009 07:28 pm Post Subject:
ok, i understand now what you meant....
did you file a complaint with the TX dept of ins? if so they should be requiring this carrier to respond to the complaint...
tell them it is THEIR responsiblity to determine the vehicles ACV and to report to you EXACTLY how that ACV was determined...then I'd throw in how I (and any adjuster with sense) would figure the ACV on a new vehicle.... let us know.
Posted: Wed Mar 04, 2009 10:36 pm Post Subject: ADA numbers
I just got the amount for an 08 (my car was an 09) with no miles from Endeavor, and they told me $11k. Can anyone help me determine if they are lying? Is there a way to access this ADA info?
Posted: Thu Mar 05, 2009 12:04 pm Post Subject:
they told you they were sourcing an 08 and your vehicle is an 09? or are you just saying that is what you think the values are? honey there are like 10 mazda 3's available which one is yours? 4door i, s, gt, wagon? wagon 5door s, gt, speed wagon...then i need to know ALL options from the following list: alumn/alloy wheels, Bose stereo, Cruise, Navigation system, power locks, sunroof, windows, theft RECOVERY system, air conditioning, auto or manual tranny, leather seats, did the loss occur in Feb. or March? ..let's see if i can find something....when you got this 11k offer did it explain how they arrived at that figure...
Posted: Thu Mar 05, 2009 06:14 pm Post Subject: 09 mazda 3i sport
manual trans, A/C, bottom level model. (09 mazda 3i sport)
They said they had no values for 09s in the system (ADA?), so I asked her to plug in my info on an 08 and let me know what that was, just to see if they even would and what the offer would be.
Posted: Fri Mar 06, 2009 01:20 pm Post Subject:
They said they had no values for 09s in the system (ADA?),
i'm sure that is true, nada won't give it to you either.. all they would have is MSRP..which is why you have to call the dealer, and do what i said to determine the value! :roll:so I asked her to plug in my info on an 08 and let me know what that was, just to see if they even would and what the offer would be.
well she didn't even do that right then or she didn't put your mileage in...if i run an 08 w/o auto tranny and only option is a.c. i get still get more than 11k....bet she's giving you trade in maybe...still to be frank the value of an 08 is not relavent....why don't you call your dealership and ask them if they got your vehicle today as a trade in how much would they ask for it on the lot..??????Add your comment