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#4332017 - 02/17/17 01:12 PM Total loss info and ACV (actual cash value)
turtlevette Offline


Registered: 12/24/13
Posts: 3493
Loc: Massachusetts
How many have had their car totaled and got a CCC actual cash value report.

I'm curious how many comparable cars were listed.

Nothing about this CCC report is transparent. It's a secrete service that only insurance companies can access.
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#4332051 - 02/17/17 01:35 PM Re: Total loss info and ACV (actual cash value) [Re: turtlevette]
Linctex Offline


Registered: 12/31/16
Posts: 4719
Loc: Waco, TX
When a kid pulled out in front of my classic motorcycle, the insurance company wanted to only pay like, $250 for it.

I had to take recent photos of it to three different motorcycle dealerships, and have someone sign an "affidavit of fair appraisal value" in order to get a (barely) fair payment for it. I then did buy it back from them for $75.
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#4332082 - 02/17/17 02:16 PM Re: Total loss info and ACV (actual cash value) [Re: turtlevette]
SirTanon Offline


Registered: 06/23/14
Posts: 1813
Loc: Phoenix, Arizona - USA
Years ago, when my Taurus was totaled, the insurance company hit me with a very under-valued ACV.. I ended up turning it around on them and listing EVERYTHING I had done to the car over the past 12 months - New tire, replaced A/C compressor and evaporator, etc.. they tacked on something like 60-80% of the cost of all that work to the payout and arrived at something more reasonable. I want to say it resulted in something like another $500 payout.

I then bought the car back from them for about $185, cleaned it up some, and sold it for $1100 to a guy who took it down to Mexico.
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#4332142 - 02/17/17 03:15 PM Re: Total loss info and ACV (actual cash value) [Re: turtlevette]
SatinSilver Offline


Registered: 01/24/08
Posts: 9294
Loc: OH
Is this about the Trans Am that was damaged last April 2016? crzy

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#4332143 - 02/17/17 03:15 PM Re: Total loss info and ACV (actual cash value) [Re: turtlevette]
Rock_Hudstone Offline


Registered: 11/13/07
Posts: 1449
Loc: New Jersey
You can haggle with the ins cos over market value to point.

However, you need to have some of your own comps to back it up. That means going online and finding closely comparable models for sale in you area. Also mentioned any value added items your car might have such as a new set of tires. Sales tax and fees, if applicable, should also be included in the negotiated price.

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#4332163 - 02/17/17 03:33 PM Re: Total loss info and ACV (actual cash value) [Re: turtlevette]
DerbyDave Offline


Registered: 10/27/15
Posts: 206
Loc: KS
The insurance company can say whatever they want and produce all sorts of fancy confidential reports blah blah blah. but if I can't take the check and buy the same car with the same miles in the same condition with the same options at RETAIL not Craigslist or private party then the offer is no good. The point of insurance is to cover a loss and get you to same place you were pre accident. You may have to find your own comps though because the insurance company is not going to look real hard to find true comparables. They usually go off what they have been able to settle similar cases and start at the bottom.
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#4332215 - 02/17/17 04:49 PM Re: Total loss info and ACV (actual cash value) [Re: SatinSilver]
turtlevette Offline


Registered: 12/24/13
Posts: 3493
Loc: Massachusetts
Originally Posted By: SatinSilver
Is this about the Trans Am that was damaged last April 2016? crzy



Yes, This could drag out for another year. And the injury side a few more after that.

The CCC report that they prepared only had 2 comparables. A private owner in OK 1200 mi away and a small used dealer in PA 400 mi away. I've had no problem finding dozens of comps and actual special edition cars at that. The CCC program doesn't work correctly on old cars. It's not like they're 20% off they're 400% off.

Most examples of the CCC report have 12 comparable cars. That's what I'm trying to get a feel for.
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#4332356 - 02/17/17 07:28 PM Re: Total loss info and ACV (actual cash value) [Re: turtlevette]
Johnny2Bad Offline


Registered: 05/20/13
Posts: 1578
Loc: Saskatchewan, Canada
Here you can demand they buy you an equivalent vehicle. That means the same or fewer miles and similar condition. If they can't find one, you can use internet serches etc of preious sales to determine the cash value.

You get what effort you put into it. Insurance companies are extremely experienced at this, they have spent millions on consumer psychology studies and training to their adjusters. You have to play hardball or they will just rape you. There is no such thing as too little evidence to support your position and there is no such thing as un-usuable evidence. A newspaper classified ad is useful. The key is don't expect one clipping; it's just like a lawsuit (in some respects, it is a lawsuit but not in court). ** Preponderance of Evidence ** ... a legal term for swamping them.

What I said first about "here you can demand they ..." is important. Keyword: Demand. If you just roll over, they will gladly rob you blind. They expect some clients will fight harder than others and they budget for those larger payouts. But they are happy with the majority who roll over and they pocket the cash themselves.

If the vehicle is important to you value-wise, get Agreed Value insurance. Then there is no argument. The value has to be supported by an appraisal, but the number is etched in stone.
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#4332367 - 02/17/17 07:42 PM Re: Total loss info and ACV (actual cash value) [Re: turtlevette]
DuckRyder Offline


Registered: 10/20/05
Posts: 3947
Loc: Atlanta
It isnít unusual for a market valuation on a speciality vehicle to have one or two comparables, though admittedly I havenít seen a CCC evaluation in quite sometime...

CCC (http://www.cccis.com/) is an independent company that provides the reports, you should be able to get a copy of it.

Your best bet was to show why the comparables were not comparable but I think if you are in litigation that ship has likely sailed.

Well that and have a collector car policy with agreed value on it on your car if you thought it was a high value car...


Edited by DuckRyder (02/17/17 07:44 PM)
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#4332368 - 02/17/17 07:42 PM Re: Total loss info and ACV (actual cash value) [Re: Johnny2Bad]
turtlevette Offline


Registered: 12/24/13
Posts: 3493
Loc: Massachusetts
The whole auto body repair industry is in tough shape because of insurance companies. They now have preferred shops that do things very cheaply. Legally, you can have your car repaired anywhere you want, but insurance may balk at their rates. You get left holding the bag for the difference.

The total loss thing underpays just about everyone with this rip off CCC computer program.

I'm playing as tough as I possibly can. Filed complaint against adjuster, filed lawsuit, and will be filing complaint against insurance company with the Dept of insurance. I've got a whole stack of comps that support un-totaling the car. And I'm going to get an appraisal even though I'll have to pay $200. I'll ask the judge to make insurance pay for it.
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#4332386 - 02/17/17 07:59 PM Re: Total loss info and ACV (actual cash value) [Re: turtlevette]
Rand Offline


Registered: 08/20/03
Posts: 12352
Loc: NE,Ohio
CCC is a company that claims to be independent that the insurance companies use to screw you.

How independent can they be if they only work for insurance companies???

They tried every dirty trick in the book to try and low ball me with terrible CCC "comparable reports" that weren't even using comparable vehicles to mine.
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#4332484 - 02/17/17 10:07 PM Re: Total loss info and ACV (actual cash value) [Re: turtlevette]
69GTX Offline


Registered: 09/23/15
Posts: 3624
Loc: Connecticut
I've had a number of vehicles totaled....unfortunately. And same insurance company over 40 years. In all but one case their initial settlement was very fair or even more than I expected. In two cases, they offered as much or more than I had paid for the vehicles. The one time we argued for a month, we finally settled on an extra $200 which covered the brand new tires on the car. Never heard of CCC before today.
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#4332535 - 02/18/17 01:09 AM Re: Total loss info and ACV (actual cash value) [Re: turtlevette]
Blkstanger Online   content


Registered: 08/13/11
Posts: 1828
Loc: Lakeside, CA
I totaled one of my Harleys years back. The first offer from my insurance was $11k. I provided local comps for bikes like mine. They settled for a $16k payout.
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#4332539 - 02/18/17 01:29 AM Re: Total loss info and ACV (actual cash value) [Re: turtlevette]
Nick1994 Offline


Registered: 02/19/13
Posts: 9456
Loc: Phoenix, AZ
And this is for that Trans Am with the collapsed lifter, cracked engine block, and needed a new paint job anyways?
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#4332862 - 02/18/17 11:28 AM Re: Total loss info and ACV (actual cash value) [Re: Nick1994]
turtlevette Offline


Registered: 12/24/13
Posts: 3493
Loc: Massachusetts
Original paint is a plus when collecting cars. Original engines and transmissions are important. Cracks can be stitched. In perfect condition this car's NADA is almost six figures. I'm just trying to get enough to have it fixed properly.

Insurance underpayment/non payment is a widespread problem and getting worse as corporations moral compass weakens. You'll experience it eventually.




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