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jdurant · 04-26-2008, 09:03 PM

Well, this is how it turned out:

Yesterday the insurance ladies boss man called me. He pretty much laughed at my estimated value of $5,500. I estimated a little high, hoping that we could compromise close to $4,500. After all since they are totalling it they are supposed to pay fair market value, not trade in or anything like that. As stated before many times, I always planned to buy it back. If I were to sell my truck in preaccident condition, I would feel pretty comfortable listing it for $5,000. Especially after looking at what was out there for sale and comparing.
The guy argued that I can't compare to trucks that far away, and all the trucks had 25,000 miles, and they were show trucks, oh and that you can't compare GMCs with Chevys. The highest he would go to was $2,300.

My points were that I first ran 100mi radius searches and found 0 GMCs and 1 Chevrolet. So I broadened my search to 500 miles, naturally. The one Chevrolet that was within 100miles was very comparable--unlisted miles, flaws, 350, swb--for $5200. Everyone knows chevys and gmcs are the exact same market. Of the 13 ads, I included one 25,000 mile truck that was listed for $17,000 to show them that these trucks are collectible and what the value of a low miles clean truck is. Only two trucks that I submitted had less than 100,000 miles, the other one had 97,000 and was a sufaced rusted LWB for $2,500!---All of this stuff was in the letter. This guy just wasn't hearing me though. It was like arguing with a tree. I ended up cussing him out and telling him I would talk to my lawyer. Then hung up.

I got to thinking about it and cooled down after a couple of hours and called back. I spoke calmer and got him to shut the **** up and listen. Anyways, I have a check coming for a little over $3,000 after I bought it back. No Salvage title because the title never changed hands. They still didn't really move off the value. The difference came because I didn't have a rental. So he added 30days rental value to the auto value.
I am pretty happy with that, after all my original quote for the damage was $2600--so there you go faithful readers.

04-26-2008, 09:03 PM	#35
jdurant Senior Member Join Date: Dec 2007 Location: Houston, Texas Posts: 679	Re: Dealing with insurance co. help. Well, this is how it turned out: Yesterday the insurance ladies boss man called me. He pretty much laughed at my estimated value of $5,500. I estimated a little high, hoping that we could compromise close to $4,500. After all since they are totalling it they are supposed to pay fair market value, not trade in or anything like that. As stated before many times, I always planned to buy it back. If I were to sell my truck in preaccident condition, I would feel pretty comfortable listing it for $5,000. Especially after looking at what was out there for sale and comparing. The guy argued that I can't compare to trucks that far away, and all the trucks had 25,000 miles, and they were show trucks, oh and that you can't compare GMCs with Chevys. The highest he would go to was $2,300. My points were that I first ran 100mi radius searches and found 0 GMCs and 1 Chevrolet. So I broadened my search to 500 miles, naturally. The one Chevrolet that was within 100miles was very comparable--unlisted miles, flaws, 350, swb--for $5200. Everyone knows chevys and gmcs are the exact same market. Of the 13 ads, I included one 25,000 mile truck that was listed for $17,000 to show them that these trucks are collectible and what the value of a low miles clean truck is. Only two trucks that I submitted had less than 100,000 miles, the other one had 97,000 and was a sufaced rusted LWB for $2,500!---All of this stuff was in the letter. This guy just wasn't hearing me though. It was like arguing with a tree. I ended up cussing him out and telling him I would talk to my lawyer. Then hung up. I got to thinking about it and cooled down after a couple of hours and called back. I spoke calmer and got him to shut the **** up and listen. Anyways, I have a check coming for a little over $3,000 after I bought it back. No Salvage title because the title never changed hands. They still didn't really move off the value. The difference came because I didn't have a rental. So he added 30days rental value to the auto value. I am pretty happy with that, after all my original quote for the damage was $2600--so there you go faithful readers. __________________ Joseph 87 Turbo Buick 92 5.0 Mustang coupe 87 GMC Sierra SWB 82 Chevy K5 Blazer 2wd Last edited by jdurant; 04-26-2008 at 09:06 PM.