Insurance Company SOP?
-
I totaled my 2002 Ford F150 about 9 days ago. My fault, several vehicles involved, no one hurt (thank goodness). Anyway, the truck was 3 months from being paid off. My insurance company offered me $3,700 last Friday. I told them I could not replace my vehicle for that amount. I faxed them comparable vehicle info (comps) for about 10 vehicles I found (within 300 mile radius). Those vehicles were priced between $9000 and $16000. Yesterday they gave me a revised offer of $9,184. WTF!? I mean, I'm glad they upped their offer (which I've accepted), but is this Standard Operating Procedure for insurance companies? I wonder how many people out there would have accepted the lower offer. Should I have held out for more? Hired an attorney?
Paul Brower wrote:
is this Standard Operating Procedure for insurance companies?
Yes! They always offer a low bid first and some people take it! Rule One : Always Refuse First Offer!
------------------------------------ "Will you marry me? Are you rich?, Don't answer in that order" Groucho Marx
-
I totaled my 2002 Ford F150 about 9 days ago. My fault, several vehicles involved, no one hurt (thank goodness). Anyway, the truck was 3 months from being paid off. My insurance company offered me $3,700 last Friday. I told them I could not replace my vehicle for that amount. I faxed them comparable vehicle info (comps) for about 10 vehicles I found (within 300 mile radius). Those vehicles were priced between $9000 and $16000. Yesterday they gave me a revised offer of $9,184. WTF!? I mean, I'm glad they upped their offer (which I've accepted), but is this Standard Operating Procedure for insurance companies? I wonder how many people out there would have accepted the lower offer. Should I have held out for more? Hired an attorney?
Insurance company will never gladly pay up.
Paul Brower wrote:
but is this Standard Operating Procedure for insurance companies?
yes.
This signature was proudly tested on animals.
-
I totaled my 2002 Ford F150 about 9 days ago. My fault, several vehicles involved, no one hurt (thank goodness). Anyway, the truck was 3 months from being paid off. My insurance company offered me $3,700 last Friday. I told them I could not replace my vehicle for that amount. I faxed them comparable vehicle info (comps) for about 10 vehicles I found (within 300 mile radius). Those vehicles were priced between $9000 and $16000. Yesterday they gave me a revised offer of $9,184. WTF!? I mean, I'm glad they upped their offer (which I've accepted), but is this Standard Operating Procedure for insurance companies? I wonder how many people out there would have accepted the lower offer. Should I have held out for more? Hired an attorney?
That sounds so much like the Gold4Dollars scam you see on TV. One guy sent them gold that was appraised at about $200. They offered him $50. He called to say no, and they upped the offer to $180. So they knew all along what it was worth. It's an intelligence test, really.
Best wishes, Hans
[CodeProject Forum Guidelines] [How To Ask A Question] [My Articles]
-
I totaled my 2002 Ford F150 about 9 days ago. My fault, several vehicles involved, no one hurt (thank goodness). Anyway, the truck was 3 months from being paid off. My insurance company offered me $3,700 last Friday. I told them I could not replace my vehicle for that amount. I faxed them comparable vehicle info (comps) for about 10 vehicles I found (within 300 mile radius). Those vehicles were priced between $9000 and $16000. Yesterday they gave me a revised offer of $9,184. WTF!? I mean, I'm glad they upped their offer (which I've accepted), but is this Standard Operating Procedure for insurance companies? I wonder how many people out there would have accepted the lower offer. Should I have held out for more? Hired an attorney?
It all depends on the adjuster. I had a 2001 Dodge Dakota which I totalled a couple years ago. I paid $5600 for it when I bought it used. The insurance adjusters settled the claim for over $7000 :wtf:. Even after my deductible, I still made money on the truck. My insurance premiums, on the other hand :(( ...
Software Zen:
delete this; -
I totaled my 2002 Ford F150 about 9 days ago. My fault, several vehicles involved, no one hurt (thank goodness). Anyway, the truck was 3 months from being paid off. My insurance company offered me $3,700 last Friday. I told them I could not replace my vehicle for that amount. I faxed them comparable vehicle info (comps) for about 10 vehicles I found (within 300 mile radius). Those vehicles were priced between $9000 and $16000. Yesterday they gave me a revised offer of $9,184. WTF!? I mean, I'm glad they upped their offer (which I've accepted), but is this Standard Operating Procedure for insurance companies? I wonder how many people out there would have accepted the lower offer. Should I have held out for more? Hired an attorney?
When my parents car was totaled in dec04 they were given the 3rd party sale bluebook price for it. But yes some insurance companies are scum. The secret is to find a good one and stick with them. Liberty Mutual rocks.
Today's lesson is brought to you by the word "niggardly". Remember kids, don't attribute to racism what can be explained by Scandinavian language roots. -- Robert Royall
-
I totaled my 2002 Ford F150 about 9 days ago. My fault, several vehicles involved, no one hurt (thank goodness). Anyway, the truck was 3 months from being paid off. My insurance company offered me $3,700 last Friday. I told them I could not replace my vehicle for that amount. I faxed them comparable vehicle info (comps) for about 10 vehicles I found (within 300 mile radius). Those vehicles were priced between $9000 and $16000. Yesterday they gave me a revised offer of $9,184. WTF!? I mean, I'm glad they upped their offer (which I've accepted), but is this Standard Operating Procedure for insurance companies? I wonder how many people out there would have accepted the lower offer. Should I have held out for more? Hired an attorney?
-
I totaled my 2002 Ford F150 about 9 days ago. My fault, several vehicles involved, no one hurt (thank goodness). Anyway, the truck was 3 months from being paid off. My insurance company offered me $3,700 last Friday. I told them I could not replace my vehicle for that amount. I faxed them comparable vehicle info (comps) for about 10 vehicles I found (within 300 mile radius). Those vehicles were priced between $9000 and $16000. Yesterday they gave me a revised offer of $9,184. WTF!? I mean, I'm glad they upped their offer (which I've accepted), but is this Standard Operating Procedure for insurance companies? I wonder how many people out there would have accepted the lower offer. Should I have held out for more? Hired an attorney?
No it is not. At least not 5-10 years ago. My wife got paid above blue book when she totaled her car. My brother did as well.
I didn't get any requirements for the signature
-
I totaled my 2002 Ford F150 about 9 days ago. My fault, several vehicles involved, no one hurt (thank goodness). Anyway, the truck was 3 months from being paid off. My insurance company offered me $3,700 last Friday. I told them I could not replace my vehicle for that amount. I faxed them comparable vehicle info (comps) for about 10 vehicles I found (within 300 mile radius). Those vehicles were priced between $9000 and $16000. Yesterday they gave me a revised offer of $9,184. WTF!? I mean, I'm glad they upped their offer (which I've accepted), but is this Standard Operating Procedure for insurance companies? I wonder how many people out there would have accepted the lower offer. Should I have held out for more? Hired an attorney?
What is the name of this company so we can avoid them?
The narrow specialist in the broad sense of the word is a complete idiot in the narrow sense of the word. Advertise here – minimum three posts per day are guaranteed.
-
I totaled my 2002 Ford F150 about 9 days ago. My fault, several vehicles involved, no one hurt (thank goodness). Anyway, the truck was 3 months from being paid off. My insurance company offered me $3,700 last Friday. I told them I could not replace my vehicle for that amount. I faxed them comparable vehicle info (comps) for about 10 vehicles I found (within 300 mile radius). Those vehicles were priced between $9000 and $16000. Yesterday they gave me a revised offer of $9,184. WTF!? I mean, I'm glad they upped their offer (which I've accepted), but is this Standard Operating Procedure for insurance companies? I wonder how many people out there would have accepted the lower offer. Should I have held out for more? Hired an attorney?
unfortunatly yes it is SOP
Paul Brower wrote:
priced between $9000 and $16000.
It is good you did not took their initial offer. My car was totaled, not my fault, about 6 years back. A very good of mine who happen to be auto body garage owner told me to hand him the case. He dealt with the insurance company and was able to get me on the higher side of the range. getting $9,184 is good, but someone who know the system might have got even higher. it is a scum. :((
Yusuf Oh didn't you notice, analogous to square roots, they recently introduced rectangular, circular, and diamond roots to determine the size of the corresponding shapes when given the area. Luc Pattyn[^]
-
I totaled my 2002 Ford F150 about 9 days ago. My fault, several vehicles involved, no one hurt (thank goodness). Anyway, the truck was 3 months from being paid off. My insurance company offered me $3,700 last Friday. I told them I could not replace my vehicle for that amount. I faxed them comparable vehicle info (comps) for about 10 vehicles I found (within 300 mile radius). Those vehicles were priced between $9000 and $16000. Yesterday they gave me a revised offer of $9,184. WTF!? I mean, I'm glad they upped their offer (which I've accepted), but is this Standard Operating Procedure for insurance companies? I wonder how many people out there would have accepted the lower offer. Should I have held out for more? Hired an attorney?
I'm with Churchill in the UK and they offered me a fair value (I checked of course) which was even right for this part of the country since car prices vary a little by region.
Visit http://www.notreadytogiveup.com/[^] and do something special today.
-
I totaled my 2002 Ford F150 about 9 days ago. My fault, several vehicles involved, no one hurt (thank goodness). Anyway, the truck was 3 months from being paid off. My insurance company offered me $3,700 last Friday. I told them I could not replace my vehicle for that amount. I faxed them comparable vehicle info (comps) for about 10 vehicles I found (within 300 mile radius). Those vehicles were priced between $9000 and $16000. Yesterday they gave me a revised offer of $9,184. WTF!? I mean, I'm glad they upped their offer (which I've accepted), but is this Standard Operating Procedure for insurance companies? I wonder how many people out there would have accepted the lower offer. Should I have held out for more? Hired an attorney?
Two experiences. 1. Had to prove (using their data, which I requested, and mine) that the car could not be replaced for that price. They came up to the proven average value. 2. With no negotiation, they paid off the car and sent me a check for $3,200 more. (this was a lease) I think I like AAA insurance now. My daughter had an experience with Allstate that made me so mad I wanted to shoot someone. Not only did they lowball the estimate and stick with it, but they accused her of it being her fault even though the investigating officer said it was the others.
SS => Qualified in Submarines "We sleep soundly in our beds because rough men stand ready in the night to visit violence on those who would do us harm". Winston Churchill