Results 1 to 2 of 2
  1. #1
    Join Date
    Mar 2009
    Posts
    1

    Question Total Vehicle Loss Comparables

    My question involves insurance law for the state of: Utah

    I filed a third party claim the other driver was 100% negligent. Their insurance company is giving us a cash value on the car based on a different model. So they are not comparing apples to apples. If they used the same car I am certain the cash value would be more. The issue is that the car is brand new so I am going to have to fork over the difference of the loan amount and the cash value they are offering.

    My question is do they have to use exact vehicles for the comparables or can they use similar vehicles?

    If they must use exact vehicles for comparison is this insurance fraud?

    Thanks in advance,

    cam

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,844

    Default Re: Total Vehicle Loss Comparables

    Insurance companies will do what they believe will save them money. But the market for used vehicles that are only a year or so old is small, so it's difficult to find exact comparables.

    If you can document through an established resource (NADA, KBB, Edmunds, or a written report from a used car manager at a car dealership) that there's a significant difference in the resale value of the model they are referencing versus the model the insurance company is using, you may have a shot at convincing the adjuster to raise the offer.

    If you can afford the wait and are comfortable representing yourself in court, you can also sue the at-fault driver, fight it out with their insurance company in court, then have a judge decide the value.

    1. Sponsored Links
       

Similar Threads

  1. Total Loss Vehicle Title Due to Repossession by Previous Owner
    By helot in forum Vehicle Registration and Title
    Replies: 3
    Last Post: 05-04-2010, 11:16 AM
  2. Title Ownership: Vehicle is Total Loss
    By Mani5000 in forum Vehicle Registration and Title
    Replies: 3
    Last Post: 06-13-2009, 06:32 PM
  3. Auto Insurance: Insurance Won't Declare My Vehicle a Total Loss
    By kzlucas in forum Insurance Law
    Replies: 1
    Last Post: 02-14-2009, 10:17 AM
  4. Auto Insurance: Total Loss Value Is Too High
    By tjsadler in forum Insurance Law
    Replies: 1
    Last Post: 12-16-2007, 06:15 AM
  5. Auto Insurance: Total loss reimbursement
    By totalled in forum Insurance Law
    Replies: 6
    Last Post: 03-17-2006, 05:10 PM
 
 
Sponsored Links

Legal Help, Information and Resources