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

[mrsilv04]

Out of morbid curiosity, I sent my insurance agent a quick email about this. He is a great agent who will provide information and assistance, even when there is nothing in it for him... except for providing good service to his clients.

He told me that they also use the same CCC-One software, and it is widely used in the insurance world. However, he said that they also generate a report that provides a cost breakdown on what is being paid for, based on the estimate and information taken from the CCC – One report.

He also told me if my truck was totaled, that they would always pay out on major accessories, such as step rails, bed liners, and bed covers. Lesser items would be considered, especially so if receipts could be provided.

He was a bit surprised that Auto-Owners is behaving in a way more fitting of a fly-by-night insurance company.

I feel better, at least I now know what I can expect from my insurance company.... and their approach is more in line as to what I would expect.

 

[Owen Lucas]

Out of morbid curiosity, I sent my insurance agent a quick email about this. He is a great agent who will provide information and assistance, even when there is nothing in it for him... except for providing good service to his clients.

He told me that they also use the same CCC-One software, and it is widely used in the insurance world. However, he said that they also generate a report that provides a cost breakdown on what is being paid for, based on the estimate and information taken from the CCC – One report.

He also told me if my truck was totaled, that they would always pay out on major accessories, such as step rails, bed liners, and bed covers. Lesser items would be considered, especially so if receipts could be provided.

He was a bit surprised that Auto-Owners is behaving in a way more fitting of a fly-by-night insurance company.

I feel better, at least I now know what I can expect from my insurance company.

You should expect this from auto-owners as well, the state holds them up to the same standards and your personal insurance. An insurance company shouldn't treat your market valuation differently because you are not their customer, this would be akin to discrimination which the state prevents by setting laws.

If you have time, call your state dept insurance company if you need to speak to someone or just ask to speak to a supervisor at auto owners. If the adjuster won't give you his supervisors number, go around them by calling the companies hotline to get in touch with the claims dept and ask the operator to give you the supervisors phone number of your adjuster. Keep escalating or jsut have the state reach out to him. Email the adjuster as well so you have this in writing.

 

[RhondaHonda]

Gimpy is right here. I worked in insurance claims in a past life and was to the point I could guess what $ amount the CCC valuation would come back at on most vehicles within $150.

What accessories are you looking to be compensated for? Also, I may have missed it but is your family member an insured or a claimant? Have them ask for the valuation or have them give permission for the adjuster to speak directly to you and it will show what trim level, condition rating and options they’ve selected. They may have spent $850 on running boards 7 years ago but those may add $40 to the value of the vehicle, so be aware of that. One thing I’ve seen in the past is the owner removing aftermarket accessories and replacing them with factory parts (in the case of wheels/tires, radios, etc) but this is rarely worth the time or effort.

I always provided the valuation and compare quote if the person wanted to keep the salvage. I didn’t care what we paid, just wanted a fair price for the customer and to get it off my desk and on to the next one. We weren’t paid any extra for saving the company money.

 

[blufeb95]

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.

Mods don't add value, never expect to be insured for any modifications unless you have a policy that was written out specifically for those modifications, you can't just add modifications to the car and expect it to add to the value, your insurance rate is calculated on the vehicle being stock as it is, you pay that rate based on this, so when the car gets wrecked they will only consider upto the official value of the car no more, you can't just pay a rate for standard insurance for your vehicle and expect it to be insured for any arbitrary amount more because you added crap to the car.

 

[tedsweet]

it doesnt work that way. if dont like there value hire a lawyer

 

[Owen Lucas]

Mods don't add value, never expect to be insured for any modifications unless you have a policy that was written out specifically for those modifications, you can't just add modifications to the car and expect it to add to the value, your insurance rate is calculated on the vehicle being stock as it is, you pay that rate based on this, so when the car gets wrecked they will only consider upto the official value of the car no more, you can't just pay a rate for standard insurance for your vehicle and expect it to be insured for any arbitrary amount more because you added crap to the car.

It depends though, if it's your insurance policy you are going through, then you can't modify the vehicle too much. As mentioned before, things like running boards, trailer hitches even bed caps will add value. I think the problem comes in when its serious modifications like a massive lift kit or thousands of dollars into a stereo system.

When it comes to a claimant, insurance has to cover their vehicle for all of its value which includes modifications up to policy max. The insurance can't just tell the non insured innocent party, sorry we don't cover modified vehicles, shouldn't have customized your ride, we will pay for stock value only, nope. They will cover for what ever market value is up to policy limits, establishing market value for these scenarios is a whole other story.

 

[DuckRyder]

So there are a couple of things that don't make sense in the OP.

How did they quickly cut a check on a TL? There has to be agreement and likely paperwork.
An appraisal written by Copart? That isn't a service I'm aware of Copart providing. The only value Copart would likely provide is a salvage value and only if someone had expressed an interest in retaining the salvage (AKA "Buying it back")

Assuming that the OPs home location of IL is both the policy state and the loss state then comparables will likely be the CCC valuation methodology. A quick google should turn up the code for claims practices which lays out the rules of engagement.

All of that said, if your friend has collision coverage they might be best served by filing with their company and letting them fight it out with A-O. It'll likely be less stress at this point.

The simple presence of an accessory doesn't increase value in some cases it might even decrease it. The easiest way to explain it in layman's terms is that if you had two trucks identical in every other way sitting next to each other on a lot, would the average person pay more for the one with this doodad on it, and if so how much more.

If your friend has asked for the updated evaluation and the representative has refused to provide it, then I don't understand that. Theres no legitimate reason to hide it.

 

[Gimpy1]

That's basically what I said, "correct from the start" as in the adjuster should have gotten the mileage, model, options and condition correct. But I am suspecting he didn't which is why he is reluctant to provide the report which would show his errors and make him do work by fixing it. The market report should reflect the zip accordingly. Whether someone agrees to the value is another story.

From the guys I have talked to, modern valuation systems should automatically decode the vehicle options from the VIN (unless you are driving a rare low production, old or weird vehicle), but it is still up to the adjuster to inspect the vehicle to see if they missed something or there are additional features. These systems aren't perfect and it's the adjusters job to adjust the report. But people are lazy, overworked and underpaid, so here we are.

I suspect this is just a low quality inspection, the adjuster knows it and doesn't care that the customer gets ripped off. 1000% escalate this and don't touch anything until a report is in your email.

Yes the VIN will decode most options with most trim packages BUT not all of them. Just like the VIN wont tell you the color of the vehicle, you need to check the trim package on the door pillar, and even then some options arent listed so part of the appraisal process is once you know the vehicle is a total you photograph the interior. The dash the seats and switch clusters, the trunk. On the average I take about 25 or more pics. You take pics of the tread depth for each tire etc. Pick ups are even worse because the Vin wont tell you the bed size and special editions like the texas edition because that is a dealer package. We have to take all these pictures and properly option the vehicle because its all admissible in court, so when you are called to testify you can justify why the vehicle was valued in such a way

 

[Gimpy1]

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

Agents are completely different than adjusters. Agents sell the policy adjuster interpret the policy language. In texas an adjuster cannot sell insurance and an agent cant adjust claims both require a license. Now some agents have both but they cannot adjust claims for policies they sell.

 

[Gimpy1]

So there are a couple of things that don't make sense in the OP.

How did they quickly cut a check on a TL? There has to be agreement and likely paperwork.
An appraisal written by Copart? That isn't a service I'm aware of Copart providing. The only value Copart would likely provide is a salvage value and only if someone had expressed an interest in retaining the salvage (AKA "Buying it back")

Assuming that the OPs home location of IL is both the policy state and the loss state then comparables will likely be the CCC valuation methodology. A quick google should turn up the code for claims practices which lays out the rules of engagement.

All of that said, if your friend has collision coverage they might be best served by filing with their company and letting them fight it out with A-O. It'll likely be less stress at this point.

The simple presence of an accessory doesn't increase value in some cases it might even decrease it. The easiest way to explain it in layman's terms is that if you had two trucks identical in every other way sitting next to each other on a lot, would the average person pay more for the one with this doodad on it, and if so how much more.

If your friend has asked for the updated evaluation and the representative has refused to provide it, then I don't understand that. Theres no legitimate reason to hide it.

I agre 100%, well put.

 

[Gimpy1]

Not sure if you re being facetious lol but the valuation is supposed to be correct from the start. Only thing that can and should be adjusted for are errors like the wrong trim was selected or there was an engine rebuild at some point.

Absolutely. You can go thru the valuation and make sure the vehicle is properly optioned. Another big factor is mileage. Sometimes the vehicle is so damaged that the instrument cluster is in op so a typical way to get mileage at the vehicle is to look for an oil change sticker. But those can be unreliable, its up to the vehicle owner to provide documentation to prove the mileage. If you dont have any then an appraiser ges with typical mileage which is about 12k a year which niether add or subtracts value

 

[tedsweet]

here thats 7500 truck

 

[Gimpy1]

Gimpy is right here. I worked in insurance claims in a past life and was to the point I could guess what $ amount the CCC valuation would come back at on most vehicles within $150.

What accessories are you looking to be compensated for? Also, I may have missed it but is your family member an insured or a claimant? Have them ask for the valuation or have them give permission for the adjuster to speak directly to you and it will show what trim level, condition rating and options they’ve selected. They may have spent $850 on running boards 7 years ago but those may add $40 to the value of the vehicle, so be aware of that. One thing I’ve seen in the past is the owner removing aftermarket accessories and replacing them with factory parts (in the case of wheels/tires, radios, etc) but this is rarely worth the time or effort.

I always provided the valuation and compare quote if the person wanted to keep the salvage. I didn’t care what we paid, just wanted a fair price for the customer and to get it off my desk and on to the next one. We weren’t paid any extra for saving the company money.

Yea adjusters don't care about the money (with in reason) the just want the file closed to reduce their pending. Its no coming out of our pocket. Plus I could care less about claimants they can file w/ their own carrier and send the subro. My duty is to the insured because we have a contract with them.

 

[Gimpy1]

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.

No hard at all when its a classic or unusal vehicle you have 2 options first you can use a specialty company like DCI to run a valuation. These take at least 10 days. 2nd you can ask the clmt to file with their own carrier, this is common if the clmt has specialty ins like hemmings and have a stated value policy and have them subrogate. I usually ask for a dec page and forward the deductible to the carrier.

 

[Gimpy1]

The settlement is supposed to be enough to buy a used vehicle (at retail, including tax) the same make model and condition that yours was just before it crashed. This is a single number there is no need to "break it down."

If it's your company paying they don't have to cover accessories unless you put them on the policy and paid an additional premium. The premium you were paying assumes the truck in stock condition with its factory options only.

If the crash was not your fault so the other guy's company paying, they do have to cover accessories.

Wrong. Its an acv not replacement cost unless you have that endorsement on you policy.

 

[Pelican]

Not sure if you re being facetious lol but the valuation is supposed to be correct from the start. Only thing that can and should be adjusted for are errors like the wrong trim was selected or there was an engine rebuild at some point.

No i'm not being facetious, insurance companies make money IF they don't pay, so they do the utmost to pay as little as they can and only when they must.

 

[Blinker]

His ins co sent me a vehicle value report, along with the repair estimate from the Harley dealer . Which was itemized. Every nut, bolt, screw and washer, as well as all the parts that needed to be replaced. The frame was bent in the crash, so the bike was totaled. It listed the frame as a obsolete part. It also was the most expensive part. So I guess in the op's situation, it depends on who did the repair estimate.

The original poster is referring to an itemized breakdown of the value of the vehicle. You’re referring to a repair estimate and those are two entirely different things. An insurance company should be able to provide a repair estimate with little trouble.

 

[ls973800]

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.

Curious what the purchase price of the vehicle was when bought just a month or two ago and what the insurance company is offering.

With the crazy prices of vehicles did the family member over pay to begin with and the insurance company is going by what the truck is really worth, or did the family member buy at a very good price from a private party and wants to get paid what a dealership would sell for in these times?

 

[jeepman3071]

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.

Before working in IT I was an insurance adjuster. The insurance company doesn't come up with itemized values for vehicles. They determine the replacement value of the vehicle based on what other similar vehicles are selling for in similar condition.

They do not *usually* account for accessories or modifications, since most policies state that any modifications will not be insured unless noted in the policy before the start of coverage. I've actually seen coverage completely denied due to people failing to disclose modifications that impacted the vehicle's safety (lift kits, larger tires, etc). The only thing that I've seen that can slightly increase the value of an insured vehicle vs. a market vehicle is documented recent service/maintenance (proof of receipts), or photos that show the vehicle is in much better condition than the ones the insurance company used as a comparison.

 

[Owen Lucas]

Curious what the purchase price of the vehicle was when bought just a month or two ago and what the insurance company is offering.

With the crazy prices of vehicles did the family member over pay to begin with and the insurance company is going by what the truck is really worth, or did the family member buy at a very good price from a private party and wants to get paid what a dealership would sell for in these times?

It shouldn't matter what price he paid for it, the insurance company really wouldn't know unless he told them and even then there shouldn't be a way to downgrade the valuation to match this.

Valuations are based on market values usually how much other similar vehicles are selling in the specific market area / circumference / zip code group. If the buyer overpaid and the valuation is lower then all OP can do is look for errors in the report, which is suspiciously being withheld. To me this is an indicator of some errors or the adjuster is plain lazy, either way, OP needs to review the report closely. Shouldn't be hard to get it, he can bypass the adjuster and just call the claims department for a copy of the report.

Most large insurance companies are open on the weekends when the adjuster is presumably not working. Or they can even log into their policy (if filing through their own coverage) and get a copy there. This shouldn't be so hard.