Auto Insurance Claims: Total Loss Payout for 2003 Ford Windstar, kelley blue book suggested retail value, kelley blue book

Question
My 2003 Ford Windstar was declared totalled, due to having
significant frame structure damage with repair cost
estimated around $9k for the frame alone.  The car also
wouldn't start, and they didn't bother to diagnose why since
it was already in the to-be-totaled amount.  Repair shop who
obviously wants the business agreed it was a total and not
worth considering to fix.

I'm in Michigan, a no fault state.  My insurance co offered
me $7000 plus $400 and change for taxes/etc.  I looked up
the kelley blue book values, shown below, and figured this
was reasonable.  Sent title in, cashed check.  Signed no
paperwork or settlement whatsoever, except signing the
title.

Ford 2003 Windstar SE 74,244 miles

Kelley Blue Book
Private Party: 6065 excellent / 5665 good / 4990 fair
Trade-In: 3975 excellent / 3650 good / 3100 fair
Suggested Retail: 7640 excellent

Edmunds
Trade-In: 3494
Private Party: 4317
Dealer Retail: 5079

NADA
Rough Trade In: 3800
Average Trade In: 4625
Clean Trade In: 5325
Clean Retail: 7625

Question 1 - Before they offered me $7000, I was expecting
them to come in around $3500 and I'd fight them on it.  I
happily took the $7000.  This was only a week ago.  Was that
a good amount, or could I have argued for more due to the
kelley blue book suggested retail value of $7640, and the
NADA clean reatil value of $7625?  The vehicle had no prior
accidents (clear title), only a bit of scuffing and
scratches on some of the paint.  Be honest with me, if I
jipped myself, let me know.  :)

Question 2 - If I took less than I could have argued for,
can I still argue for more at this point?  I assume signing
the title over seals the deal, but there was no paperwork or
settlement agreement from my ins co.  I assume signing the
title works for this, but if I can argue for more money
still at this point, I'd like to.  Even a few hundred extra
dollars would make a big difference to me.

Answer
Hi Mike,

There is no specific value for any vehicle. It will always fall into a range of value. The value guides you mentioned (Kelley, NADA & Edmunds) are just a guide and provide averages. Based on the information you provided there can be a wide range for your vehicle. Edmunds showed the retail value of your vehicle at $5,079 while Kelley & NADA were aboout $7,600. This shows a range of value that could vary by about $2500.00. With the insurance company offering you $7,000, they were certainly at the higher end of the range. You received a very good price for your vehicle.

At this point, considering that you already signed over the titled, you received a check and you signed and cashed the check, you should not pursue anything further. You actually received more than you would have likely received through an arbitration process.

I hope this helps
Richard Hixenbaugh