totaled vehicle question?

[97_4x4]

I was on my way home from class last thursday night and hit a cow in the road with my work car, (a 1999 Mitsubishi Mirage DE coupe). The insurance company of the owner of the cow came and did the estimate. There is damage to the hood, fender, door, and rear quarter panel. The damage estimate is $2100.

The insurance company is saying that the car is totaled and has a value of $1450 with a salvage value of $250. SO I can take $1160 and keep the car. However I have checked NADA and kelly Blue Book and I am getting different values. With the options and mileage I am getting $2700 (NADA) and $2850 (Kelly).

Here is my question. Is there anything I can do? I do not want to accept half the vehicles value but I also don't want to get an attorney becasue the attorney fees won't justify the difference in value since it is so low.

I have never totaled a car before. I did lay down a motorcycle and received full retail value for it.

Thanks for any input you can offer.

Chris

 

[97_4x4]

Also I have checked places like autotrader.com and a few others and I only finding a few of these for sale and the range seems to be from $2100 to about $3995 at dealerships.

Thanks

Chris

 

[DarkMax]

Im pretty sure that even if the car is worth $2100, if it was only insured at $1450, thats all they will give you if it is totaled.

 

[swamprat]

What has your insurance company said? The cows owner insurance will offer less. He is at fault. It was his cow you hit and he is responsible for his cow. You still might not get full value of the car and could sue for the rest

 

[adsm08]

Which values were you looking at?

The insurance companies usually look at private party sale or trade in value. Most owners then go and look at retail value. The difference there is that the insurance company is looking to pay the least and the owner is looking to get the most.

Odds are they won't negotiate, and you are right, taking it to court will cost you more than you can hope to get back. I'd take the money and run.

 

[97_4x4]

I was looking at retail values at both websites. I will check the private party value. I don't have comprehensive insurance on the vehicle through my insurance company so there isn't anything they can do. I was just wondering if I had the right to make a counter offer and go from there.

Like I mentioned earlier when I layed down the motorcycle I was payed full retail but through was through my insurance.

I'll check private party values and go from there.

Thanks for the info so far.

Chris

 

[dominj]

So about nine months ago i was also involved in an accident, not with a cow, but with another car, their fault. Their insurance company wanted to give me something like $800 dollars for the car. Went on CL found about 10 comparables in the price range i wanted to get paid for wrote them, faxed them, and emailed the same person three diffrent copies of the same letter, the cars and a stack of reciepts for new parts on the car and got them to add some more money to the value of the car. If you want the letter, let me know and i'll see if i can dig it up.

 

[MrE_Powers]

the insurance company is in the business of not paying out as much as possible. with that said do some research and prove your car is worth what you think it is worth. you dont have to take the first offer.

 

[superds]

Even if you think your insurance company can't do anything for you still ask. They may be willing to help you negotiate with the other insurance company. The cow's insurance company doesn't know you don't have full coverage on your vehicle.

I know if I were in the same situation as you I would ask the assistance of my insurance agent and he would help since he likes my business.

 

[colby450xc]

This last summer I totaled the previous truck I owned and the insurance company was going off of retail value of the truck. I however did not receive full retail value because they will try to count off for every little imperfection on the car. My truck had rust spots, previous dents and high mileage. Call the insurance company and ask why you are not getting full retail for the car. Do try to negotiate with them on it.

 

[kerry]

If yoiu decide to try to negotiate the settlement, just be aware that negotiate is what insurance company employees do for their living (ie they are professional negotiators!)
This means you have to have good facts to back up your position. Also remember that the company will use any ploy to delay paying you. If enough money is at stake, get your own professional negotiator (lawyer, your own insurance company, etc.)

Good luck!

 

[Ranger Dave (B25)]

Don't take the low-ball offer. Definitely counter with retail value.

 

[robertc1024]

Even if you think your insurance company can't do anything for you still ask. They may be willing to help you negotiate with the other insurance company. The cow's insurance company doesn't know you don't have full coverage on your vehicle.

I know if I were in the same situation as you I would ask the assistance of my insurance agent and he would help since he likes my business.

I think this is a good idea. Shoot, you pay them already anyway.

 

[naford]

Did you get a rental? If not you should have. My brother just went through this. Some drunk hit a 95 Grand Margue and a 2000 Toyota. The insurance company paid over the book value for the Grand Margue and tried to under pay for the Toyota. He negotiated on the value of the Toyota and got more. Go online and find several prices on the car. If they won't meet your price go over their head or take the cows owner to small clams court. It'll cost you a couple of bucks to file but you can inflate the claim a little. I know insurance companies have lawyers but they don't like to go to court over small money.

 

[pjtoledo]

how would about 400 lbs of burgers and steaks sound as compensation?