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2021 Total Loss Insurance Claim Advice

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RiffSurfer

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Good evening friends!

The first day 2021s opened, I put it an order for a CCLB Tradesman Hemi. I got a great deal, and had every option I wanted. It was hydro blue with the safety package and 8.4in display. I also had some other options like dual alternators, as I was building a tiny home on wheels to go on the back.

Long story short, with only 3k miles on the truck, it was totaled. Memorial Day weekend at 3am, a drunk driver veered off the road at 80mph into my driveway and obliterated both my truck and my roommates. I was asleep in bed, and woke up from what sounded like a lightning strike. The dude somehow survived, and ran. Then the truck was reported "stolen" the next day.

I'm having tons of trouble with insurance. The sticker price of my truck is about $50k. However, with the chip shortage, it's impossible to find a replacement truck with the safety package on a lot nationwide under 70. USAA is saying my cash value is 46k. Normally this would seem reasonable, but in this current climate, KBB, NADA, and the CarFax history based value tool all say my truck is worth over $60k. The CCC valuation cites a single truck over 500 miles away that is a bare bones work truck.

What would you consider a reasonable settlement? I don't necessarily expect the $64k that CarFax says it's worth, but these are weird times. I don't want a truck without the safety package, especially when I'm living out of it.

Just looking for advice in some rough times. I've been negotiating for over a month, and the adjustor won't budge. He said I should be happy they are offering close to sticker... I'm just trying to control financial damage. Now I'll have to buy a diesel off the lot, as I move to Alaska in 6 weeks.
 
Your a vet, get the news or talk to a lawyer. That's a lot of money your losing on, and to replace the truck with a comparable model cost more. I'm sure you have mentioned to the adjuster but ask them to replace the truck instead of cash. Go find you the same or close to same and tell you the cost. Insurance companies made bank during the pandemic with half the country not driving.

And I think your right, I sold my wife's mini to carvana for 50% more than what we were offered 2 years ago. Inflation and used prices increased for the first time in the history of car sales and insurance companies failed to adjust their rates to the market. Thats their mistake and you shouldnt pay for that. You served, and all their bs of being for vets, make them own it.

Also a dealership could always pick up on this and make it a story of how they paid the difference or helped you get a great deal. Use YouTube, Facebook, twitter, and so on.

Strange times call for stranger bedfellows, or something like that.
 
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don't accept it , keep fighting, until you get a number you are happy with, also did you haev full coverage with ehe I had to go back and forth for about 3 months with USAA on my 2017 that was totaled. I scrutinized every submission there claims evaluator made- and fought them constantly- almost made me cancel my insurance and I ended up getting a call from a VP over the deal- they are supposed to look at several others for sale that match yours in the area to get a price- I called the initial appraisal guy out because he never physically looked at my wrecked truck- and it was obvious he didn't based on his initial appraisal- call USAA repeatedly, ask to go higher up the chain- in this weird time of trucks being worth more than they were new, they need to pay out- if they can devalue over time, then they also need to increase value if the value goes up right? I even called the banking people and threatened to remove all my banking from them due to there lack of customer service at the time. I just traded in ( traded, not sold) my 2018 for more than I paid for it new- and the dealer listed it- for almost the full 2018 MSRP price - insanity- The insurer determines the actual cash value (ACV) by considering your vehicle's condition before the crash and market value for similar used vehicles in your geographic area. ACV differs from book value, which may not reflect current market prices. https://www.usaa.com/inet/wc/advice-auto-what-happens-when-your-car-is-totaled?akredirect=true
 
Provide comps...links & phone numbers to comparable vehicles for sale they can verify. I had to do this for hail damage to an old pickup so they wouldn't total it. I had to do a nation wide search to find 1/2 dozen 'like' vehicles, then send the data to them. This proved what market value was at. Fortunately for me a body shop had provided photos showing the over condition of the vehicle to my insurance company. Yours being less than a year old, it's kind of hard to put any real wear & tear against it, unless it's used in a labor/ hauling business. Even then it's a challenge.

If all else fails, inform them you believe you are being low-balled and intend to contact your state's Insurance Commissioner to investigate your claim... and their settlement offer. No insurance company wants them poking around. They will come up. Hang in there, use all your options, and keep us informed. Good luck
 
is your car in a tow / autobody yard accruing storage charges, or in one of the INS co's facilities (I really hope so)? If its in theirs, the longer you hold out, the more incentive they have to deal with you, as they are responsible for all charges on top of your settlement cost. NEVER let them take it until you have a settlement, as you have lost significant bargaining power.
 
This is why i have complete VEHICLE replacement insurance. To avoid this BS. Hope it works out for you, but im afraid you're likely outgunned here.
 
Being a 21 I wouldn't accept anything less then you paid for it...don't believe anything the adjuster tells u..go above his head if you have to..
 
Oh wow... I feel for you. I just went through this last year , with prices on the significant rise, comparable values from vehicles that were sold LOOOONG before the the inflation, etc.

They know what the truth is; they know what they legally owe you. Read the state laws, they are VERY clear that they owe you the CURRENT value of a LIKE vehicle, including options. This does NOT include any aftermarket items; they do not value those and are not generally required to.

Now, I fought for two months on the value, meanwhile needing a truck! They offered me enough to where it wouldn't be worth the legal fees and hassle to increase the amount they were required to meet.

In my case, the insurance company used a valuation report from CCC One. On the surface it looks like a very comprehensive report. Look into the company. Many insurance companies have lost law suits, even class action due to the de-valuation on these reports; saving the insurance companies millions!!! I tried to fight, but without going to court, in what would prove to be a very long and arduous battle, I had to settle at some point for my own sanity (or lack thereof).

It's easy to say you should fight it until you get what you're owed... It's MUCH more difficult in practice.

Best of luck @RiffSurfer
 
bfs673 said:
Oh wow... I feel for you. I just went through this last year , with prices on the significant rise, comparable values from vehicles that were sold LOOOONG before the the inflation, etc.

They know what the truth is; they know what they legally owe you. Read the state laws, they are VERY clear that they owe you the CURRENT value of a LIKE vehicle, including options. This does NOT include any aftermarket items; they do not value those and are not generally required to.

Now, I fought for two months on the value, meanwhile needing a truck! They offered me enough to where it wouldn't be worth the legal fees and hassle to increase the amount they were required to meet.

In my case, the insurance company used a valuation report from CCC One. On the surface it looks like a very comprehensive report. Look into the company. Many insurance companies have lost law suits, even class action due to the de-valuation on these reports; saving the insurance companies millions!!! I tried to fight, but without going to court, in what would prove to be a very long and arduous battle, I had to settle at some point for my own sanity (or lack thereof).

It's easy to say you should fight it until you get what you're owed... It's MUCH more difficult in practice.

Best of luck @RiffSurfer
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All the more reason to bring up your option of involving the State's Insurance Commissioner. It's free to you. That part of their job...investigating claims...be it for the consumer...someone making fraudulent claims...etc.
 
@getpolicies not sure what you're trying to convey...besides 'use your website', but thanks for resurrecting this thread!

@RiffSurfer what was your outcome on your pickup? Inquiring minds want to know how USAA treated you in the end...or did they catch the guy and it all go against his insurance?
 
El Toro Blanco said:
@getpolicies not sure what you're trying to convey...besides 'use your website', but thanks for resurrecting this thread!

@RiffSurfer what was your outcome on your pickup? Inquiring minds want to know how USAA treated you in the end...or did they catch the guy and it all go against his insurance?
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getpolicies is spamming......should be banned
 
What you are going through is a concern for all of us. If insurance companies don’t adjust for market conditions, we are screwed. I always insured my classic cars for “declared value”, I wonder if we can insure our new trucks that way?
 
Time is on your Side... The Insurance Regulatory Commission states that any disputed claim or loss by law has to be settled within a specific time frame... usually within 6 months. At which point it must then be sent to an independent binding arbitrator outside of the Insurance company control to be settled. Stick with replace my truck with a like (year), (Model), Mileage / condition truck. Remember, They TOTALED your truck because it was in their best interest to do so. The 6-month time frame may vary from states to state. This law protects you because each month they drag this out the value of your vehicle will depreciate more and they will have to pay you less, hence the time limit. Wait them out and get what you deserve.
 
I went through this with USAA. It was an 87 Silverado that got stolen. It was the only year of the box body and EFI. They were using '86 and '88 comps. I held out and sent them own comps. Eventually, they had to get the claim off the books and gave me a fair reimbursement.
 
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