Auto Insurance Claims: stolen car, copy prints, negotiation process

Question
HOW IS THE VALUE OF A STOLEN CAR DETERMINED?  IS IT ON TRADE IN VALUE OR RETAIL VALUE?

Answer
Hi Maureen,
Claims such as this are settled on a FAIR MARKET VALUE basis.
This means that your insurance company will hire an independent company that will do a computer search within a 50 mile radius of your home to find the selling price of cars similar to yours.

They word their question in such a manner as to get the lowest prices.
For example, their statement usually is "if you have a similar car in stock, what is your LOWEST willing to sell for price?".  "If you don't
have such a car available, what would be your LOWEST willing to sell for price IF you had one in stock?"

This means that the first offer from your insurance is going to be very low.

While they are doing their research, you need to do your own so you can counter their offer for a higher amount and have documentation of it's greater value.

Go to sites such as autotrader.com.........kbb.com......nada.com.....
local dealers and newspaper ads and find cars of your same year, make, model, equipment, condition and mileage and make hard copy prints of what you find and get written statements from the dealers and clip the newspaper ads (showing date).  

You will use this information to determine the fair market value and then be able to enter into a negotiation to settle the claim.
This negotiation process may take several days or weeks, with you slightly lowering your demand and the insurance company raising their offer until you arrive at a figure that you both can agree upon.

I hope you find this information to be of help.

Your feedback by rating my answer will be appreciated.

Sincerely,
Bennie
San Francisco Bay Area