Auto Insurance Claims: Vehicle Value, auto insurance policies, 4x4 diesel

Question
I was hit by an uninsured driver. This was his second accident in 6 mo. I was taken to hospital, have perminate neck/spine injury. The vehicle I was driving is an Isuzu Amigo 4x4 diesel. Yes, diesel. They are only available in So. America, the UK, and limited Asian markets. The little thing gets over 30mpg in town and up to 40 on the highway. The insurance adjuster with my company of 27 years sent me a check for $700, turned over the paperwork to the state saying it was a total, and told me too bad. I located one in Argentina for $12k us. Also one in the UK for $10k. I am visiting an appraiser on March 21st...who assures me he can use other makes and models for comparison. I figure my vehicle to be worth approx $11k. After I get the appraisal I am going to submit to insurance company. Do you think this is the correct approach? The medical issues are a complete different situation.  

Answer
Hi Ken,

I'm not sure if you are in the U.S. or elsewhere, however if you are in the U.S., this would be considered a "Grey Market" vehicle.  Since it is not manufactured for the U.S. market there are no comparables in the U.S.. Generally these vehicle will have a value that is 30% to 50% below standard values. However, in any case the value would be substantially more then $700.00.

Most auto insurance policies contain an "Appraisal Clause" that will allow for both sides to hire an independent appraiser. The 2 appraiser would then attempt to reach an agreed value. If they can not agree, then the 2 appraisers would select an umpire appraiser whose decision will be final and binding on all parties.  You should read your police to be sure it contains this clause.  Otherwise you may have to file suit to receive correct compensation if your negotiations fail.

I hope this helps
Richard Hixenbaugh