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  1. #1
    Join Date
    Jan 2005
    Location
    Hamilton MI
    Posts
    1

    Default Do I have to accept the offer from my insurance company?

    I purchased 2000 Jeep Cherokee w/ 62k miles, with a MI rebuilt title.
    This Jeep was in excellent running and driving condition.
    A few months later a young kid ran into my front end.
    He was issued a ticket.

    My insurance wrote and estimate for $6300 to repair the front end.
    Later they told me that they did not want to repair it beacuse it was repaired before and it had a rebuilt title.

    They decided to total it and give me $3500, this I thought was a real joke.
    Retail on a clear title Jeep was around $9,500-12,000
    I would expect pay off to be 10% less than a clear title vehicle.

    I got them up to $4500 during my first call with them and they would let me keep the damaged jeep.

    I think they pay off should be about $8500.

    I would like to tell them to find me a another Jeep with the same Rebuilt title and condition for $4500.

    What can I do to get a proper pay off to replace my Jeep? :cry:

    How long do they have before they have to take it to an arbritrator?

    I don't want to settle with Allstate until they give me a fair price to replace my JEEP.

  2. #2
    Join Date
    Sep 2004
    Posts
    758

    Default Proving Value

    Keep in mind that the fair market value for your vehicle is not that of any Jeep which has never been issues a rebuilt title. It is the value of a Jeep with a rebuilt title.

    If you wish to try to prove a higher value, try getting statements from the used car managers of local Jeep dealerships indicating what they believe the retail value of the Jeep to have been. Or find where a similar vehicle is for sale (or has been sold) and the sale or purchase prices. Then relate that information to Allstate.

    In terms of your remedies and time limits, you will need to check the terms of your insurance policy, as they are likely to be defined (and probably limited) by the policy.

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