QuestionMy wifes car was hit and totaled by another driver. I just spoke with the adjustor and feel the offer is low. I pulled the Kelly Blue Book Value and it was significanly more than they are offereing. State Farm told me that they only have to give me what they deemed the amount. Any idea what I can do to get the number up???
AnswerBill, depending on whether this is a first party or third party claim, there is plenty you can do. State Farm is not the authority on vehicle values. In fact, unless they have a formal appraisal from a peer reviewed expert (not a company or computer database), then they will have a very hard time proving the value of your vehicle in any court. There is not enough room on this medium to give you the proper help.
The only way to determine the true market value of a vehicle is to PROPERLY conduct market research and then properly report upon that research in the form of an appraisal. The only published standard for appraising is the USPAP.
Many carriers will use settlement tools like CCC or JD Power Mitchell reports. CCC doesn't perform appraisals. There is no appraiser when a CCC is used. Likewise for JD Power / Mitchell and the likes. These are all nothing more than settlement tools used by insurance companies to try to make claims settlements fast. CCC has been sued multiple times for undervaluing vehicles (they settle, but don't admit wrongdoing and then go right back to the same old thing). The reports used are not consistent and rarely reflect the true value of a vehicle. Mileage adjustments are inconsistent and they include made up adjustments like "list price" and "take price". It can truly be frustrating to try and deal with a brainwashed adjuster that is a yes man to his/her company. I make a living telling the truth, and most adjusters make a living doing what their boss tells them to do.
The good news is that if you search out my company on the net and call my office, I will personally consult with you for free and give you some tips on how to negotiate properly. If the value they are offering is significantly low as you think, then you could press the matter by obtaining a real appraisal and putting up a good fight. If there's not a huge difference, simply being pushy, calling out the problems with the CCC / other report, and refusing to settle might get you a few more dollars. You can let State Farm know that if they refuse to negotiate, the claim WILL NOT settle, and an open claim is a claim that is costing money. Without professional help, most accident victims are helpless. Knowledge is power, and when you don't know, insurance carriers have a bad habit of making up rules and lying to accident victims. They can't get away with lying to a professional.
