Got The Insurance Company's Cash Offer For The 4runner Today

[birchy]

$12,610.

 

 

Did a search for a 1999 4Runner on Kijiji, Buysell, and AutoTrader online for all of Alberta. Out of 11 results.. ZERO are under that offer.. the closest is 12,900. And out of the 11, the average price is $15,600.

 

 

Thoughts?

[Teck71]

In that case do not accept the offer, inform them that you cannot replace your car for that amount and see what they do.

 

unfortunatly the Insurance guys are bigger crooks than the guys that took your car.

 

hope it works out.

Teck

[wongrs]

yes, you should bargain with them if you don't feel that's a fair price. after all, you pay into insurance for exactly this purpose. don't be bashful to come back with a higher number of what you think you deserve.

 

i would bring them the list of equivalent vehicles and show them what you can get in your current market (immediate geographical area). then explain to them that you vehicle was kept in better/worse/equivalent shape as those in the list. i'd make a list for calgary, alberta, and maybe canada listing low, high, median, and mean prices for each geographical area. i'd also cite these if they are publicly available data. i'd use kijiji, craiglist but also things like the auto trader and that lemon-aid book.

 

another good idea is to collect all the work you've done on the car recently (ie. new tires, replace timing belt or whatever). if that work is relatively new, it'll give you some more suport and should put you in a better bargaining position. sum this up in terms $$$ spent and increase in value of your car.

 

doesn't hurt to try right? but you need evidence to support your position. that's my 2 cents.

[Brownstone]

tell them to stick it, go get a quote on the replacement cost in writing to have something to back it up .. insurance is great in case *hit happens but a bastard when *hit does happen

[Taco]

tell them to stick it, go get a quote on the replacement cost in writing to have something to back it up .. insurance is great in case *hit happens but a bastard when *hit does happen

 

NoshitSherlock as in, a mule deer cannot crack a standard cast bodied transmission no matter what speed you hit it at...Ah yes it can.. and around and around for 2 months until I prove my point and they pay.... NOW keep in mind hitting an animal is a no fault claim, they send me a notice that they had me in the wrong rate class and the insurance on my work truck was gonna go from 550/yr to 2700/yr... Consequently ALL, House, Vehicle and Business, my insurance needs are now being meet at another agency @ a saving of about 2000 bucks/yr.

[WesG]

My sister was just in an accident and the insurance company informed her that they only pay the first $50/hour of shop for the repair. She has to pay any additional money/hour for shop labour out of her own pocket In this case its $80/hour, so she will have top pay $30/hour. Anyone else ever heard of this one? It says absolutly nothing of this in her policy.

 

I have many shitty insurance company stories of my own, this is just the most recent.

[ladystrange]

wesg, i have never heard of that before. very strange. i could ask a few of my home and auto co-workers tomorrow if you want

[vhawk12]

My sister was just in an accident and the insurance company informed her that they only pay the first $50/hour of shop for the repair. She has to pay any additional money/hour for shop labour out of her own pocket In this case its $80/hour, so she will have top pay $30/hour. Anyone else ever heard of this one? It says absolutly nothing of this in her policy.

 

I have many shitty insurance company stories of my own, this is just the most recent.

 

This isn't really the fault of the insurance companies...it's the fault of the mechanics gouging labor rates....It's like going to the dentist and they will only pay a certain amount according to the average cost for say fillings....they will pay the average rate (which is always less than the dentist's price) and you end up paying the difference... So, I guess it's either your sister finds a shop with $50/hr labor rates (maybe out of town) or everyone's premiums will go up to cover $80/hr labor rates. Just like if people falsify claims, then premiums go up to cover higher claim counts due to people making fraudulent claims. I'm not defending the insurance companies, it's just how it works. If it's no where in the small print of your sister's policy then she should fight it.

[WesG]

Yes however, for things like dental insurance its right there in your insurance providers booklet the amount thay cover and how much you have to pay, they dont wait till your dental work is done and tell you they are only paying %80. I was in an accident as well last year and my insurance company paid the whole hourly rate of shop labour, not just up to a certain amount, so i find it very hard to believe that "thats how it works". I have never heard of this and knowone else i have talked to has either. She already got quotes from 4 different shops in edmonton... all are $80/hour.

[Rainbow]

My insurance co. says they will pay 80% of of dental what they didn't tell me was that they will descide what a dentist should charge.

[Weedy1]

People should phone Dentists to find out their rates if they feel they are being ripped off. The rates will vary. Insurance companies paying 80% is nothing new, been that way for many years with a lot of policies. Some insurance companies still follow the Alberta dental fee guide from the mid 90's.

Anyone that thinks being charged $80/ hr in our economy is outrageous should take a better look around, remember that doesn't include parts, which is where you're really getting screwed . Most shops would go broke at $50/hr.

[ladystrange]

oh, wes, is the amount in lieu of the deductible?

 

i will ask my auto guys tomorrow because that sounds kind of hinky

[vhawk12]

Well Wes, sounds like your sister should switch over to your insurance company. They're not all the same, just like Taco found out...and you don't usually find out until you have a problem. My mom is an insurance agent and she speculated about the reason for the company only paying the first $50....she is just a broker, not working for a specific company like Economical, AVIVA, etc. and told me there are some companies that will do anything to get out of a claim. So shop around, get the best price but make sure you are clear on what the coverage includes. If you have any questions, you can ask me and I'll ask her, she'll answer to the best of her knowledge (20+ years so far).