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Started By
Message
re: Auto Insurance Question: Post Accident Valuation. Update on Page 3.
Posted on 1/9/26 at 4:38 pm to Lonnie Utah
Posted on 1/9/26 at 4:38 pm to Lonnie Utah
quote:
Additionally, several of the comps were the top of the line model which they used to mark ours down significantly (we had the middle of the road version
This is where the scam part of it comes in. I believe they intentionally comped yours with cars of a higher trim level so they could use some mysterious metric to value down your specific car.
You are correct to run the report with the cars closest to your exact model. You may need to get mouthy with them and use words like "predatory" to get a meeting of the minds. The entire point is to give you money to go buy the exact same thing you had.
0
Posted on 1/9/26 at 6:21 pm to Lonnie Utah
quote:
Our vehicle was basically new with approximately 1500 miles on it.
Show them your bill of sale and suggest a few dollars off for minimal mileage. This is not hard.
Posted on 1/9/26 at 6:27 pm to Lonnie Utah
File an injury lawsuit and get that 20k check baw
Posted on 1/9/26 at 6:33 pm to Motorboat
quote:
Show them your bill of sale and suggest a few dollars off for minimal mileage. This is not hard
Done two weeks ago.
Posted on 1/9/26 at 6:59 pm to nealnan8
quote:
Uh... before paying for an attorney, try "kicking" the claim up the line. First, ask for the claims manager to review the claim and tell him that you are not happy with the valuation. If you are not satisfied, then go above his head.
Great idea. Maybe get the CEO to review the comps.
Posted on 1/9/26 at 7:05 pm to Lonnie Utah
quote:
Our vehicle was basically new with approximately 1500 miles on it.
You may have overpaid for the vehicle at purchase. Was it a closeout on a 2025 model? The new vehicles are out so the value of the prior year models has depreciated
Posted on 1/9/26 at 8:18 pm to tigersbb
quote:
You may have overpaid for the vehicle at purchase.
That is a possibility. But as I said, currently there is not a vehicle of this same make and model within 100 miles of us. So supply and demand is an issue.
quote:
Was it a closeout on a 2025 model?
It was a 2025, but for sale at an independent dealership. We were the 2nd owners.
quote:
The new vehicles are out so the value of the prior year models has depreciated
Understood. But we're not seeking what we paid, we're seeking a valuation that allows us to replace the vehicle, and this one does not do that.
Posted on 1/9/26 at 8:24 pm to Lonnie Utah
quote:
These aren't the real numbers, but basically their report gave a ACV of $2000 and when you average the ACV of the vehicles listed in their comps report it comes out to $3000.
The average of their ACVs, is that before or after the reductions in each vehicles value bc they’re a trim level higher?
Posted on 1/9/26 at 8:27 pm to Lonnie Utah
quote:
But we're not seeking what we paid, we're seeking a valuation that allows us to replace the vehicle, and this one does not do that.
I think this may be part of the issue. You are supposed to be paid for the value of your vehicle, not to replace it.
They owe you for its value pre loss. Not to replace it.
ETA I know it sounds like splitting hairs, but they’re essentially buying your car from you as if it were not wrecked, aka its value at the time of the wreck. They don’t pay for you to go buy another.
This post was edited on 1/9/26 at 8:29 pm
Posted on 1/9/26 at 8:28 pm to CaptainsWafer
quote:
The average of their ACVs, is that before or after the reductions in each vehicles value bc they’re a trim level higher?
The average of adjusted acv of the vehicles they list is $1k higher than what they offered as settlement.
I ran the numbers thru chatgtp and no combination of removing any 1 or 2 vehicles was able to reproduce that price.
Posted on 1/9/26 at 8:30 pm to CaptainsWafer
quote:
They owe you for its value pre loss. Not to replace it.
Exactly. The comps show that vehicles with more miles are more expensive than what we paid. Their offer doesn’t represent ACV based on the comps.
Posted on 1/9/26 at 8:30 pm to Lonnie Utah
Man it’s hard to help further without seeing the valuation report.
Who is supplying the valuation info, could it be Mitchell or CCC or something else?
Who is supplying the valuation info, could it be Mitchell or CCC or something else?
Posted on 1/9/26 at 8:32 pm to CaptainsWafer
I get it, but for obvious reasons I can't do that.
CCC is doing the valuation.
Edit: And I do appreciate the conversation and replies.
CCC is doing the valuation.
Edit: And I do appreciate the conversation and replies.
This post was edited on 1/9/26 at 8:33 pm
Posted on 1/9/26 at 8:33 pm to Lonnie Utah
Oh I def understand.
Those reports are supposed to be straight forward and the CCC report should generate the market value, then show the calculations for tax, tile, and license, subtract your deductible, then give the settlement value.
Is you’re deductible $1000?
ETA My knowledge is state specific, and it’s not Utah so there could be some variations in how things are settled due to different laws and regulations.
Those reports are supposed to be straight forward and the CCC report should generate the market value, then show the calculations for tax, tile, and license, subtract your deductible, then give the settlement value.
Is you’re deductible $1000?
ETA My knowledge is state specific, and it’s not Utah so there could be some variations in how things are settled due to different laws and regulations.
This post was edited on 1/9/26 at 8:36 pm
Posted on 1/9/26 at 8:35 pm to CaptainsWafer
$250. That's listed on the report and taken into account.
Posted on 1/9/26 at 8:36 pm to Lonnie Utah
There’s nothing wrong with calling and asking to discuss and have it explained.
I do understand that can be a lot easier said than done though.
I do understand that can be a lot easier said than done though.
Posted on 1/9/26 at 8:56 pm to CaptainsWafer
quote:
There’s nothing wrong with calling and asking to discuss and have it explained.
We sent them a much longer letter, but this is what we sent them with regards to the valuation report. I've edited out the first digit the actual ACV's....
quote:
Upon review of the valuation report, we note that the reported Actual Cash Value of $X2,103 is materially lower than the average of the adjusted comparable values listed in the report, which calculates to approximately $X3,118.
We respectfully request clarification regarding the methodology or adjustments that resulted in this discrepancy, including but not limited to:
Whether finance-only pricing or unavailable listings were included
How individual comparables were weighted or otherwise adjusted
Whether any internal market or depreciation factors were applied beyond the listed adjusted values
Clarification on these points will help ensure all parties are aligned on the basis for the valuation.
We are hopeful that the additional market data and correction of the identified errors will allow this matter to be resolved without the need to invoke the appraisal process, which we reserve the right to pursue should the valuation remain unresolved.
Thank you for your attention to this matter.
This post was edited on 1/9/26 at 9:05 pm
Posted on 1/9/26 at 9:17 pm to Lonnie Utah
quote:
That is a possibility. But as I said, currently there is not a vehicle of this same make and model within 100 miles of us. So supply and demand is an issue.
Its up to the insurer to establish the value on a reasonably objective basis. Did they include sales tax in the offer?
Posted on 1/9/26 at 9:19 pm to tigersbb
quote:
Did they include sales tax in the offer?
Yes
Posted on 1/9/26 at 9:39 pm to Lonnie Utah
Were the comparable vehicles list price or sold price?
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