by Matilda » Sat Jul 17, 2010 05:36 pm
I have a bad total loss valuation for my car (IMO) from an insurance company using Autosource. I have found proof from data from my BMV that they are changing the values used for the comparison cars. The cars used (32) have numerous errors and many do not seem to be comparable. Nothing from my car was deducted for condition and value was added for maintenance and low mileage, yet there are cars on the list with over 100,000 miles with no adjustment. In addition, adjustments made to real sale price were lowered on most of the cars. There are cars without comparable options such as auto transmission, heated seats, sunroof, etc. There are fleet cars, auto auction cars, and repossessed cars. I sent local comparison cars and was lectured if one small option was not on the car (like a woodgrain trim). My car was loaded and there were only 3 or 4 options available of which I had 2. I feel somewhat confident I can probably re-negotiate the second settlement offer, but I am so angry that this is probably happening to many people. Unfortunately the amount of loss makes it almost impossible to pursue legal action. (even small claims cost to file and by the time you put in the work you don’t break even). There have been lawsuits filed against a similar company CCC but I find none against Autosource. There is bad faith here and maybe even fraud. After I was treated in a condescending way by my adjuster I was so angry I spent allot of time documenting all the errors. Does anyone have any idea what to do?
Posted: Sat Jul 17, 2010 06:27 pm Post Subject:
If this is a true example of Unfair Claims Practices, it will be a violation of almost every state's insurance laws. So your first, best course of action is to file a complaint with your state's Department of Insurance.
They'll follow up and may be able to influence the insurer to gat your claim on track. If not, you can reject the offer and sue the insurance company. Generally, a minimum of 60 days from the date of loss (or proof of loss) before you can sue. There may be a time limit of 1-to-many years (statute of limitations) that can prevent you from filing an "untimely" suit.
If you believe they are not treating you fairly, then stick to your guns, do not change your story, and fight for justice!
Posted: Sat Jul 17, 2010 07:51 pm Post Subject: problems with total loss database
Thanks for the advice. I hope by sharing my found errors with this forum and with the div of insurance with my state will help get this unfair practice changed. Unfortunately, I doubt I could get a lawyer to take this, even though I have all the proof; the amount of money to be recovered just isn't enough for them.
Posted: Sat Jul 17, 2010 10:39 pm Post Subject:
If you actually have the evidence that contradicts their findings, you are pretty much golden. I do work for two carriers that use autosource and I have had to correct them on several occasions. The most recent was a 2008 Honda Pilot. They sent me information on 6 comparable vehicles, only 2 of them were the same model and were not even in as good condition as the insured's. 3 of them were no longer availible and had been sold at auction. Many times, Autosource gets it's info from sources that are not very credible. This really doesn't fall under bad faith, it's just bad information. Autosource is only provided availible information in a market that may or may not be accurate. Like I said, if you can actually put your hands on comparable vehicles that they sourced, they will have to go back to the drawing board. I have seen them do it.
Posted: Sun Jul 18, 2010 01:47 am Post Subject: Problem with total loss database
While it may be true it is bad info from autosource, I have repeatedly said this to my insurance adjuster. I even sent them a spread sheet with all the actual sale dates and prices that were not correct. I have sent them comparable vehicles in my local area ( state capital not rural ) and they have made no other offer. I think knowing the data is flawed but sticking with it anyway is not very 'good' faith!!
It's been 3 weeks sent I asked for an explanation.
Posted: Sun Jul 18, 2010 02:26 am Post Subject:
Forget it. Don't settle and contact the Department of Insurance. They will try and where you down, but the fact is, the adjuster doesn't know squat. He is going off of what an seperate entity tells him. You probably are not going to get anhywhere with him. Time to run up the food chain.
Add your comment