by bujusgirl » Tue Feb 02, 2010 06:13 am
Any advise/info that can be provided will be greatly appreciated. Here's my situation:
Geico claims full responsibility for accident that occurs in NY state and causes damage to 95 Nissan Maxima GLE (103127 miles) car, registered in MD. To me, car was in above average condition. Adjustor informs me that my car is being totaled out as repair is $4100 (> 75% of value per NY State law). He offers me $3710 (3500 ACV; 210 sales tax) and identifies the car as being in average condition (per CCC one market valuation summary). I conduct my own research using NADA, which he recommended.
NADA clean retail price for MD is valued at 4775. I provide documentation the same day. Following day, he leaves two different, contradictory messages disputing value of NADA as "inflated" (telling me that he didn't dock my car for many things and is in really in below avg cond.) and then calls back stating that NADA's value is the dealer price and they only pay private seller price.
Today he tells me that I looked at wrong section on NADA (not true) and that their value is based on KBB. Given my ignorance about cars/car guides, I tell him I will do further research and offer further documentation. Based on what I can find, NADA's clean retail price seems to be value of fair market price and not representative of price per dealer or private seller. Is that accurate? Furthermore, KBB, their alleged source, lists the car value higher than they offered. Clearly, he is not being truthful. Additionally, the adjustor has been surprised of how I've been so I guess he was expecting an ignorant consumer. Can someone please advice me how to proceed because this is becoming a bigger headache for me than I can manage....please help with any advice!
e. Given GEICO's delinquency in responding to me do I have any continued rights to the rental car until we agree on a settlement offer? It literally took 17 days just to hear from adjustor; and despite providing documentation by the evening of the same day of his offer, I had to wait to hear back conclusively from him (day 22)? Literally, I've been waiting on them all this time.
Please write any thing that you think may be influential in getting the fair value for my car- in addition to recommendation about any free online appraisal source/guide that actually provides most accurate/fair market value of my car to establish ACV. Thanks in advance.
Geico claims full responsibility for accident that occurs in NY state and causes damage to 95 Nissan Maxima GLE (103127 miles) car, registered in MD. To me, car was in above average condition. Adjustor informs me that my car is being totaled out as repair is $4100 (> 75% of value per NY State law). He offers me $3710 (3500 ACV; 210 sales tax) and identifies the car as being in average condition (per CCC one market valuation summary). I conduct my own research using NADA, which he recommended.
NADA clean retail price for MD is valued at 4775. I provide documentation the same day. Following day, he leaves two different, contradictory messages disputing value of NADA as "inflated" (telling me that he didn't dock my car for many things and is in really in below avg cond.) and then calls back stating that NADA's value is the dealer price and they only pay private seller price.
Today he tells me that I looked at wrong section on NADA (not true) and that their value is based on KBB. Given my ignorance about cars/car guides, I tell him I will do further research and offer further documentation. Based on what I can find, NADA's clean retail price seems to be value of fair market price and not representative of price per dealer or private seller. Is that accurate? Furthermore, KBB, their alleged source, lists the car value higher than they offered. Clearly, he is not being truthful. Additionally, the adjustor has been surprised of how I've been so I guess he was expecting an ignorant consumer. Can someone please advice me how to proceed because this is becoming a bigger headache for me than I can manage....please help with any advice!
e. Given GEICO's delinquency in responding to me do I have any continued rights to the rental car until we agree on a settlement offer? It literally took 17 days just to hear from adjustor; and despite providing documentation by the evening of the same day of his offer, I had to wait to hear back conclusively from him (day 22)? Literally, I've been waiting on them all this time.
Please write any thing that you think may be influential in getting the fair value for my car- in addition to recommendation about any free online appraisal source/guide that actually provides most accurate/fair market value of my car to establish ACV. Thanks in advance.
Posted: Tue Feb 02, 2010 12:56 pm Post Subject:
Today he tells me that I looked at wrong section on NADA (not true) and that their value is based on KBB.
The would be the first company in the world to use KBB...talk about dealer prep...I thought he said they used cccHe offers me $3710 (3500 ACV; 210 sales tax) and identifies the car as being in average condition (per CCC one market valuation summar
He didn't use both..Did you look the CCC report over good for ANY error? Also check the comps that the CCC report listed, make sure they are 'true' comps to your vehicle..
Can someone please advice me how to proceed because this is becoming a bigger headache for me than I can manage....please help with any advice!
First check the CCC report over throughly, then call the comps..make sure they are as listed, do a local 'market survey' call dealers in your area (note name of person you talked to, date time etc). Ask them what they would sell your car for (prior to the loss) if on their lot.
Also check Edmunds.com and google your yr/make/model for sale. You can drill it down to within a 100 mile radius or so.
Does this adjuster work for Gieco or is he an independent? There is no way they are using CCC and KBB..Further more, CCC does not pull it's numbers from KBB...
Given GEICO's delinquency in responding to me do I have any continued rights to the rental car until we agree on a settlement offer
No, you don't actually most states don't require a rental at all. Most carriers will allow you to keep a rental up to three day after an OFFER of settlement. Notice the word 'offer' NOT 'acceptance'..It literally took 17 days just to hear from adjustor; and despite providing documentation by the evening of the same day of his offer, I had to wait to hear back conclusively from him (day 22)? Literally, I've been waiting on them all this time.
I'm surprised they haven't pulled that rental plug already to be honest. No way it should've been allowed to continue this long...again, does he work for Gieco directly or was he hired as an independent?(telling me that he didn't dock my car for many things and is in really in below avg cond.
Well he missed his chance, he can't change it now...Does your car have any UNrepaired prior damage? Also be honest (with us, cause what difference would that make :wink: ) what condition is your vehicle in? It's 15 years old, so some wear would be expected.
Do you have collision coverage on your vehicle with your carrier?
Posted: Wed Feb 03, 2010 01:24 am Post Subject:
Please write any thing that you think may be influential in getting the fair value for my car- in addition to recommendation about any free online appraisal source/guide that actually provides most accurate/fair market value of my car to establish ACV. Thanks in advance.
The only way to know what they are offering, you need the CCC report.
Once you receive the CCC report check the mileage, options, & condition of the vehicle.
Per NADA your low mileage adds on additional $650.00 to the value of the vehicle.
As Lori stated call your dealer, look through your local paper and do your research.
You have to be objective about the condition of your vehicle. Once you have done your research then you should know what the value of the vehicle should be.
You have a couple of options:
If you are still getting no where with the auto insurance adjuster ask to speak with a supervisor, and go up the chain of command.
If you still feel they are not giving you the full value of your vehicle, you can always file with your insurance company and let them subrogate back to the other insurance company.
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