My Car is getting totaled and they are giving me very low price when compared to KBB

[Alpinewhite]

I was yielding for right turn and this stupid guy holding a cell phone came and hit me straight at the bumbper. Insurance company totalled it. Well now I am hagling with them on the price of the car. Mine is a clean maintained 109000 miles car. And KBB sugested retail value is 7200. But these guys dont go by that. They are evaluating based on similar car for sale on various places like autotrader.com. They couldnt find many 95 530i finally they took two old newspaper clippings and saw this one car thats on sale in autotrader. All these three vehicles are of very higher milage and everything. But they dont give much value for lower milage. Finally they are saying $4300 as the value. I dont know what to do. If only there are new ads for sale in Auto trader in Atlanta GA area for higher value!

[filmy540i/6]

$7200 is very high for that model year/car. What are they trying to give you for it?

[Tiger]

I came up with $5000 average. In KBB, I used Private Sale and good condition. I used Autotrader and put in 100 miles for your car and only one car... dealer with $4995. Use that and tell the insurance that is the only car available and that is what it will cost you to buy a replacement car.

I'd take $5000 for the car. $7200 is unrealistic for market

I even bumped up the distance to 500 miles and still come with $5000 median level. Tell the insurance company to buy you a car with your approval or give you $5000. If you have anything installed on the car you want to remove, tell them.

Are they paying you for suffering or rental? Sometime insurance pay you $1000 or $2000 extra to cover any medical bills you may have...

Last option is force them to fix your car... whatever your body shop AND mechanic tells them what is needed and make sure they include stuff that may not be necessary to cover their ass if needed. This probably will cost far more than $5000... so they should cough up $5000 for you.

[whiskychaser]

I dont know what KBB is but insurance works the same everywhere. Work out why its worth more: has it got any new bits, even down to tyres and exhaust? You wont be talking to an engineer but a loss adjuster. USD 4300 is only their first offer.

[93 525 Paul]

I dont know what KBB is but insurance works the same everywhere. Work out why its worth more: has it got any new bits, even down to tyres and exhaust? You wont be talking to an engineer but a loss adjuster. USD 4300 is only their first offer.

Kelley Blue Book (kbb.com) is a standard value source in the US. Hitch may be that he looked at retail value as opposed to private party value. I bought an 07 from a broker for about midway between private party good and private party excellent. Not many asking at that price, but I bet a lot SELL at that price (~ private party good.)
I don't think many pay retail. I don't.
My car dealer client runs ads in the paper showing how far below kbb retail his cars are offered at.

Either way, haggle aggressively and get everything you can.

[CheapCheap1]

I had some haggling experience w/ the Geico.
Just counter claim for the "fair market" price, which you have a back up evidence. Add it up w/ all the "actual" recent big maintenance invoices (w/in 1-2 yrs), like: muffler, radiator, tyres, etc.
Yes, the CA - Claim Adjuster, will not accept it easily. A lot of ph calls & frustations to be continued.

Now, the fun part...if you cannot fight w/ the ins. company (yeah, they are the real highway bandits) by yourself, just ask your Big-brother (your State's Ins. Dept. & FTA) to give you some helping hands.

Start filing the complaints on "Unfair Adjustment" & request for an investigation on those real highway bandits. W/in 2-3 wks, your State's Ins. Dept. will contact you for more info & evidences.

Yeah, w/ enough info & eveidences, your Big-brother will start the investigation by requesting a full claim settlement report w/in the past 5-6 yrs. As to my knowledge, no ins. company would spit out this report, since it will show more unfair adjustment cases & sometime, ins. scam cases (of course, for CA's buddies or for the company s/he took the bribes).

Then, just sip your Starbucks coffee & wait for a call from CA.
Yeah, tell the CA that you want either your car fixed or a check w/ the number you asked.

Good lucks...

[Ross]

You were hit from behind?
Choose your battles, the value of your car should be the least of the other guy's worries.
FWIW, $4300 sounds like a quite fair offer to me. Last year I sold my '94 530 with manual trans which is generally considered more desireable and 104k miles for less, significantly less.
I'll be happy to put you in the driver's seat of my '95 540 with 109k for the proposed amount of your settlement.
I'd sell everything I own if I could get what KBB says it's worth.

EDIT; They are obligated to make you whole so required to restore you to your pre loss condition. If you are still unsatisfied and feel the need to squeeze them a bit more demand a satisfactory replacement vehicle identical to your old one or to properly restore the hit vehicle. You stand a good chance of getting a bit more as it's easier to write a check than do the above.
Good luck

[Tiger]

If you were hit from behind, you will get medical compensation. A friend of mine got hit from behind hard and Allstate paid him like $2000 on top of car repair.

[Kibokojoe]

Don't settle. Yeah I went through the same crap with the insurance company. I told them they needed to find me another motorcycle for the price they were offering. Also offer to purchase the totaled car at salvage value. I bought my totaled motorcycle for $100 and they were glad to get it off there hands. It would probably cost them that for the wrecker to hall it off. Insurance companies are theives. When you realize this you will know who you are dealing with. THEIVES

[Kibokojoe]

Ditto

[BMW4LIFE]

don't settle. Yeah i went through the same crap with the insurance company. I told them they needed to find me another motorcycle for the price they were offering. Also offer to purchase the totaled car at salvage value. I bought my totaled motorcycle for $100 and they were glad to get it off there hands. It would probably cost them that for the wrecker to hall it off. Insurance companies are theives. When you realize this you will know who you are dealing with. Theives

+2

[stargazer_61]

I was in a similar position a few years ago, though with a Mustang Conv. Insureds company, GMAC, lowballed it, which was expected. Without saying a word to them, I looked in AutoTrader and eBay for a comparable replacement (mileage and equipment). A total of 45 vehicles were available nationwide that fit the criteria, none closer than 300 miles and none near the value GMAC was offering.

Started doing research and found a web site that shed a lot of light on the subject. First, virtually all of the big players use the same software to value vehicles. From a base wholesale value, options are added in at wholesale, and depreciation is subtracted at retail. Second, their adjusters have "relationships" with car dealers in which "special pricing" is given. The average civilian could never haggle down as low as these arrangements. This provides the out for the insco because technically they have been provided with a price.

The bottom line is that they can be negotiated with to a point. Present evidence for what it would cost you to replace your car. Show them listings from Auto Trader, etc., as well as distance for travel considerations. Remind them that is their insured that has caused your loss and that you would not be there otherwise. Keep it realistic and civil. You should suffer no expense for its replacement. The Mustang loss was reevaluated and their offer was upped $1500, which I accepted as fair and the car was replaced from several choices.

It takes time and patience. Other points to consider in forcing their hand are not signing the release from the tow lot and hanging on to a rental longer than they want you to because you have not been able to locate a replacement at the current offering.