Auto Insurance Claims: Car Accident, dodge ram 1500, independant adjuster

Question
Dear Mr. Hixenbaugh,
Thank you in advance for your expertise in answering my question. My husband fell asleep while driving,drove into a ft. deep ravine ,up the otherside into a dead tree. Seatbelt on,airbags did not deploy. Front end severly damaged. Salvage yard guy said frame is badly twisted,broken in one area, front wheels bent out to the side. Axle, tie rods, and various other front end structures badly damaged. This was the temporary holding area until the pick-up truck was towed to the State Farm collision center. We bought the brand new Dodge Ram 1500 4WD with hemi and numerous upgrades in Nov 2007. 8000 miles on odometer at time of crash. Truck was in mint condition. My husband is fine except for a whiplash injury. MSRP 36600. We paid 28000 including tax and tags. I am currently very concerned that the car will considered totaled. We would like to be prepared for the adjuster when he gives us his report. Is an independant adjuster really an asset when it comes to haggling for a fair cash value? Is the insurance company every willing to negotiate? How can we determine what the truck is worth that would be a solid resource that we could present to the adjuster if we think the amount is to low? I don't know what else to ask and would appreciate any help.

Regards,
Wendy Limbert

Answer
Hi Wendy,

I hope your husband is doing ok.

To determine the fair market value of your truck there are several resources you can check out. You should be looking at retail values.

1) www.nada.com
2) www.kbb.com
3) www.edmunds.com
4) www.autotrader.com

The first three are guide book sites that will show approximate average values on a national basis. The last one wil allow you to search for currently for sale trucks like yours in your area. You should try to find trucks that most closely match your vehicle in mileage, options and condition. Select 5 to 10 similar vehicles and average the values to develope a good overall average. Then when the insurance company makes you an offer you will know if it is within range of being fair. If not you can submit your info to negotiate a better price. Only if the insurance company is unwilling to negotiate with you would you need to hire an independent appraiser. Since you are dealing with your own insurance company, you would invoke the "Appraisal Clause" of your policy. This is a process where each side hires an appraiser. The two appraisers try to reach an agreed figure. If they can not agree then the two appraisers would select an umpire appraiser and an agreement by any two of the three would be final and binding on all parties.

I hope this helps
Richard Hixenbaugh