Insurance company refuses to provide breakdown of value on totaled vehicle.

[mrsilv04]

I am assisting with a family member who was in an auto accident. This is related to the purchase of the 2009 Silverado, right before Christmas.

There is an impasse with the insurance company who is paying out on this, which is Auto-Owners Insurance They are refusing to provide a breakdown of the numbers that they used to determine the value the totaled vehicle. All they want to provide is a single number.. They act as if the breakdown of the numbers, of how they determined the total value of the vehicle, is some sort of trade secret.

They came out with an offer, and quickly cut a check. It took about 2 minutes of looking at the appraisal, which was a piece of rubbish written up by Copart, to realize that this offer was severely lacking. It should have never been submitted to us. It was missing several key options on the vehicle, and all of the accessories installed on it. To be honest. the appraisal seems like it was done by someone who was looking at pictures of the vehicle, and not by someone doing it in person.

The second offer added an additional $1500 to the first offer. Now, when Auto-Owners is asked to provide a line by line breakdown of how they determined the value of the vehicle, their response is that the second offer is their final offer, and they refuse to provide a breakdown of how they arrived at their payout. We have asked several times for a breakdown of their offer.

In addition, there has yet to be any offer of compensation for installed accessories, which are clearly shown (and itemized) in provided pictures of the wrecked vehicle.

Is it typical for an insurance company to refuse to provide the numbers showing how they determined the value of a vehicle, line by line... and to flat out refuse to even address any compensation for installed accessories?

 

[Nick1994]

What do you mean by a line by line breakdown? Do you mean the value of the headlights, doors, seats, and tires? The vehicle is worth something as a whole.

Sounds like a fly-by-night insurance company. You'll be lucky to get anything.

 

[BMWTurboDzl]

Why would they provide a itemized break down?

 

[PF52]

To be honest. the appraisal seems like it was done by someone who was looking at pictures of the vehicle, and not by someone doing it in person.

I'm sure we've all seen the commercials where you get in an accident, snap a few pics of the damage, send them to your insurance company and they deposit the money in just seconds? This is exactly what results from that.

 

[volk06]

I am assisting with a family member who was in an auto accident. This is related to the purchase of the 2009 Silverado, right before Christmas.

There is an impasse with the insurance company who is paying out on this, which is Auto-Owners Insurance They are refusing to provide a breakdown of the numbers that they used to determine the value the totaled vehicle. All they want to provide is a single number.. They act as if the breakdown of the numbers, of how they determined the total value of the vehicle, is some sort of trade secret.

They came out with an offer, and quickly cut a check. It took about 2 minutes of looking at the appraisal, which was a piece of rubbish written up by Copart, to realize that this offer was severely lacking. It should have never been submitted to us. It was missing several key options on the vehicle, and all of the accessories installed on it. To be honest. the appraisal seems like it was done by someone who was looking at pictures of the vehicle, and not by someone doing it in person.

The second offer added an additional $1500 to the first offer. Now, when Auto-Owners is asked to provide a line by line breakdown of how they determined the value of the vehicle, their response is that the second offer is their final offer, and they refuse to provide a breakdown of how they arrived at their payout. We have asked several times for a breakdown of their offer.

In addition, there has yet to be any offer of compensation for installed accessories, which are clearly shown (and itemized) in provided pictures of the wrecked vehicle.

Is it typical for an insurance company to refuse to provide the numbers showing how they determined the value of a vehicle, line by line... and to flat out refuse to even address any compensation for installed accessories?

Auto Owners is usually pretty good to work with.

Were the installed accessories insured under the policy? Many times rims, exhaust, etc (Vehicle modifications or customizations as insurance industry calls them) are not covered unless you have a rider for them. Otherwise the value is based on the factory configurations.

 

[mrsilv04]

Why would they provide a itemized break down?

Because we asked for one. The first offer was such a train wreck, that it put the entire thing in doubt. It still isn't clear that they have corrected all of the omissions in the first offer.

 

[mrsilv04]

What do you mean by a line by line breakdown? Do you mean the value of the headlights, doors, seats, and tires? The vehicle is worth something as a whole.

Sounds like a fly-by-night insurance company. You'll be lucky to get anything.

Base value of vehicle, and then a line by line value of all of the major options... basically as shown on the window sticker.

This isn't rocket science. They used these things called 'numbers' to determine a value.

 

[Gimpy1]

I am assisting with a family member who was in an auto accident. This is related to the purchase of the 2009 Silverado, right before Christmas.

There is an impasse with the insurance company who is paying out on this, which is Auto-Owners Insurance They are refusing to provide a breakdown of the numbers that they used to determine the value the totaled vehicle. All they want to provide is a single number.. They act as if the breakdown of the numbers, of how they determined the total value of the vehicle, is some sort of trade secret.

They came out with an offer, and quickly cut a check. It took about 2 minutes of looking at the appraisal, which was a piece of rubbish written up by Copart, to realize that this offer was severely lacking. It should have never been submitted to us. It was missing several key options on the vehicle, and all of the accessories installed on it. To be honest. the appraisal seems like it was done by someone who was looking at pictures of the vehicle, and not by someone doing it in person.

The second offer added an additional $1500 to the first offer. Now, when Auto-Owners is asked to provide a line by line breakdown of how they determined the value of the vehicle, their response is that the second offer is their final offer, and they refuse to provide a breakdown of how they arrived at their payout. We have asked several times for a breakdown of their offer.

In addition, there has yet to be any offer of compensation for installed accessories, which are clearly shown (and itemized) in provided pictures of the wrecked vehicle.

Is it typical for an insurance company to refuse to provide the numbers showing how they determined the value of a vehicle, line by line... and to flat out refuse to even address any compensation for installed accessories?

Ok so first I am a licensed all line adjuster in texas, and have 15 years exp. Ive worked in total loss, fire/theft and non injury claims, i am also a license physical damage appraiser in PA NY SC and VT. So now that Ive established that. First the ins company will not give you any info since you are not part of the claim. Second is your friend an insured or claimant? 99% of personal auto total losses use an electronic ACV calculation. The most common are ccc and audatex. When a total loss evaluation is completed they provide a 5 to 10 page report on how the vehicle value was determined. Aftermarket accesories rarely increase the value by vey much for claimants, for insureds its dependent on the policy language. BUT in either case the add ons are not valued dollar to dollar. The vehicle owner does have the right to access how the vehicle value is determined, if this is for an insured the policy will state the valuation methodology. Depending on the state, there are laws that specifically state what must be provided to the vehicle owner. Since we dont know if the vehicle owner is the clmt or insured AND what state this is in any and all answers given here are pure speculation, I suggest you look up the state dept. of Insurance law on total losses to see what must be provided to the vehicle owner. Ignore anyone that says get an attorney, most attorneys won't handle a physical damage case unless there is an injury and if they do they typical retainer is 40%. Feel free to PM me if you have questions, but I cannot answer legal questions.

 

[mrsilv04]

Auto Owners is usually pretty good to work with.

Ahhh.... no they aren't. Of course, we likely got stuck with their worst claims adjuster, who doesn't have any clue as to what they actually do.

 

[Astro14]

Options change the value.

Accessories don’t.

 

[GON]

Something i have been told (not verified), is that any money one has put in a vehicle in the past year, may increase they payout on a totaled vehicle. An example would be a rebuilt transmission installed, or a new set of tires. Of course, receipts for the work are critical,

 

[PimTac]

I’m still confused by the line item breakdown. Usually a insurance quote will have the make, model, and model trim included.

The only case I could see would be if you were driving with something valuable and that got damaged or destroyed in the accident. Then that would be another can of worms.

 

[DuckRyder]

Gimpy is about the only one in this thread that knows what they are talking about, listen to Gimpy...

Once you've answered the questions it'll be easier to help.

I will say typically Auto Owners is pretty good.

 

[volk06]

Ahhh.... no they aren't. Of course, we likely got stuck with their worst claims adjuster, who doesn't have any clue as to what they actually do.

Every time I've dealt with them, I've had no issues. I guess the key is having a reliable agent.

 

[Ignatius]

In addition, there has yet to be any offer of compensation for installed accessories, which are clearly shown (and itemized) in provided pictures of the wrecked vehicle.

From my experience working in the car business I can tell you that the value of added accessories usually amounts to little or nothing when it comes to the overall value of a vehicle, in fact often times those additions, alterations, etc devalue a vehicle. You need to view it from the perspective that while those things may have importance and value to you, they may have little, no, or negative value otherwise. The most value specific universal accessories, such as a trailer hitch, might add is 50% of their original cost.

On the insurance side I have to realize that insurance companies tend to do evaluations with the factor of mileage being taken into consideration so that it has as little impact as possible on devaluation. What I mean when I say that is that for example if you were evaluating the trade value of a vehicle at a car dealership they would likely assess the mileage at the maximum value impact so to give you the lowest trade value possible. Insurance companies tend to do the opposite, in late 2020 I had a vehicle that I thought should have been totaled out, however, the insurance company considered the mileage amount (despite it being very high) to have very little impact on the vehicle's market value and thus gave me what I considered to be an unreasonably high valuation on the vehicle so that it would not be considered the total loss. The insurance company swore up and down that the vehicle was worth at least $20,000 but the absolute most I was able to get for it in trade was $13,000 and the car was likely worth $10,000 in real time market value as a trade. The vehicle did end up getting sold at retail but the selling price (even OTD with taxes and fees added) was nowhere near $20,000. You know it would have been great if the insurance company would have bought the car for $20,000 if they really thought it was worth that, fat chance

 

[Nukeman7]

Base value of vehicle, and then a line by line value of all of the major options... basically as shown on the window sticker.

This isn't rocket science. They used these things called 'numbers' to determine a value.

Is Auto-Owners Insurance the company that insured your family member's Silverado? Or is Auto-Owners the company representing the other driver at fault? If your family member is not liable for causing the accident and insured by a company other than Auto-Owners, their insurance company should be responsible to intervene on their behalf and resolve the claim for a fair payout. I found out the hard way that your insurance company isn't responsible to represent you in a claim against another driver who was at fault if you only have liability coverage without collision.

 

[Gimpy1]

What do you mean by a line by line breakdown? Do you mean the value of the headlights, doors, seats, and tires? The vehicle is worth something as a whole.

Sounds like a fly-by-night insurance company. You'll be lucky to get anything.

I think you should do a bit a reseach before you say things like that since you have no idea who they are and who their underwriters are. Just because they arent State Farm, Geico, Progressive or any of the common insurance companies that spend millions of dollars on advertising. You might check Concorde and A-O and look at their ratings and assets.

 

[Gimpy1]

Something i have been told (not verified), is that any money one has put in a vehicle in the past year, may increase they payout on a totaled vehicle. An example would be a rebuilt transmission installed, or a new set of tires. Of course, receipts for the work are critical,

It may or may not. It all depends on the when and what. Again it will not be dollar per dollar.

 

[Leo99]

How much different is their offer from what you think the truck was worth? You might be better off counteroffering and telling them why you think your number is a better representation of market value than their number.

 

[BMWTurboDzl]

Because we asked for one. The first offer was such a train wreck, that it put the entire thing in doubt. It still isn't clear that they have corrected all of the omissions in the first offer.

Ya. No. It doesn't work that way. Your state might give you a way to see remedy via additional appraisals.