Auto Insurance Claims: stolen car, available cars, model condition

Question
QUESTION: I just had my 94 Honda civic stolen.  I took excellent car of it.  I would like to know the how to get the best settlement from Geico.  The KBB is about $5200.  Geico said that they do not use those types of value rating systems.  My fear is a low ball offfer.

Thanks

ANSWER: Hi Thomas,
You are entitled to receive a fair market value plus sales tax and a pro-rated reimbursement of your license fees as settlement for your car.
It is the desire of Geico and part of the job of the claims adjuster to settle your claim for the least amount possible.
You are correct in assuming that your first settlement offer will be a low ball amount.
Before making you a settlement offer, the insurance company will hire an independent company to survey your area for cars of like kind and condition.  That survey will present a question to the dealers that is worded somewhat in the following manner:
"Do you have a car of this make, year model, condition, equipment and mileage in stock?  If so what is your lowest 'willing to sell for' price.  If you don't have this car, what would be your lowest 'willing to sell for' price if you had such a car?"
The insurance company will be provided a list of about 20 cars showing the actual equipment and mileage and what the dealer would sell for if he had such a car.  This is merely a list and no one has actually inspected these cars.  They should be willing to provide you a copy of this list and you can go and look at the available cars.
If the cars on their list are not comparable to yours, then you need to visit at least 5 dealers and get their lowest 'willing to sell for' price if they have the car in stock, or what their price would be if they had such a car.  Get this in writing from the dealers
with the dealership name and date.
If the 5 quotes on your list are higher than the offer being made by the insurance company, you will now have documentation to negotiate with the insurance company for a higher price for your car.
The final offer that you receive through negotiation will be based on how strong and how long you are willing to negotiate and the insurance company's desire to get the claim settled so the adjuster can move on to other files.
I hope this information will be of help in resolving the value of your claim.
Your feedback by rating my answer will be appreciated.
Sincerely,
Bennie
San Francisco Bay Area


---------- FOLLOW-UP ----------

QUESTION: thanks.  i am taking your advice.
any suggestions on how to find the right dealers to give me quotes.
whats the best way to approach them.
the one i approached said they would not give me the info.  i basically told them my situation and they said they would not help.


my policy also allows me to rent a car from a private party.  is their anything i should be aware of.

i received the affidavit doc today from the insurance for the private rental and it asked about if the person i was renting from had rental coverage on their insurance policy.  is this necessary for me to rent the car from them?

Answer
Hi Thomas,
I suggest that you approach the dealers with the statement that you need this information to settle an insurance claim. That you will definitely be replacing the car and that their assistance in giving you a quote will place them at the top of your list when you are ready to purchase.
When renting from a private party, it is normal that they be required to carry a commercial insurance policy as opposed to the standard personal auto insurance policy.  It will be in your best interest to only rent from an authorized rental agency.
Good luck,
Bennie