Auto Insurance Claims: Total Loss - FL, state insurance commissioner, value appraisals

Question
I was rearended, other party/ins co. has accepted liab. Their appraiser valued my veh approx $2,000 less than anything I can find comparable on Autotrader. 2 questions: By law (Florida), are ins companies required to include the taxes after a value as been verbally agreed upon? My other ? is value of my veh on KBB or NADA is approx 7,000/they're offering 4,900! I rejected this initial offer & they are now saying they will research dealerships in my geographical region. Other than demanding proof of their findings & documenting my own, should I get the ins commissioner of my state involved if not happy w/ their final offer?

Answer
Hi Trent,

The state insurance commissioner can not do anything to help you. Their function is to make sure that insurance companies are complying with insurance law and thier policy. In your case you have a dispute over the value of your vehicle which is simply a matter of negotiation or a matter for a court to decide.

You should demand that the insurance company provide you with the documentation they used to establish the value. You can then verify the information. If you still feel there is a significant difference you can hire an independent appraiser to appraise the value of your vehicle. Then you will have independent documentation of your own to help you acheive a reasonable settlement.

For more assistance on diminished value appraisals visit www.collisionclaims.com

I hope this helps
Richard Hixenbaugh