Who do you speak to when your auto insurance is not paying you for the total damage done to yor vehicle.?

Question

CAR WAS TOTAL , INSURANCE COMPANY NOT PAYING FULL VALUE. IS THERE A AGENCY THAT OVERSEES THESE MATTERS.

Answer 1

As much as i know,this is a question with different answers,it is really depend on yourself judgement,some great resource her for reference though.http://carinsurance.expertsupport.info/a...

Answer 2

The insurance company owes the Actual Cash Value of your vehicle. That means, what you could have reasonably sold it for prior to the accident given it's age, options, mileage and condition.

With gas prices high.....the market value of full sized trucks, suv's, and other large vehicles has tanked. So you are not going to get much for that type of vehicle.

The values of small cars - such as civics, have shot up due to the increased demand for these vehicles -- again gas prices.

Have you asked your adjuster how they determined the value of the vehicle?

Most cars are not in retail condition. There is usually a deduction for the vehicles condition.

You may want to speak to your agent and see what they can do to assist you.

Insurance is regulated by the state. You can contact the insurance department. But that does not mean the insurance company will pay you what you want. It means that the insurance company will look into it.

Answer 3

For car insurance the quick way to get a good quote is do a rate comparison on car policies. Make certain that you pick similar policies with the same limits, car make, location, etc so that all things are an accurate comparison.



What I usually recommend is an internet comparison quote at http://www.InsureAutoNow.info since they have lots of insurers and will give multiple prices on car insurance polices.

Answer 4

Insurance companies pay fair market value. If you believe your car is worth more, you must provide proof of why. For instance, if you have a really nice stereo system and you are not keeping it. Provide receipts for it's cost, and it will be applied to your car's value. You can contact the Insurance Commissioner in your state for problems with insurance agents/companies. Whether they will handle a matter like this or not, I am not sure.

Answer 5

The agency is your state insurance commissioner.

The company should be paying for the actual cash value of your car, minus your deductible.

They don't pay you payoff.  They don't pay you retail of what you paid for the car.  They only pay you, actual cash value.  If you go to www.kbb.com, and look at the private party sale value for your car, then subtract the deductible, that's roughly what they should be paying you.

Sometimes, your agent can help get a little bit more out of them.  Not much, usually just a couple hundred or so.  

I'm guessing, what THEY think the car is worth, isn't what YOU think the car is worth.  The real question is, why do you think your car is worth more than they think it's worth.

Answer 6

How do you know they're not paying the fair amount? Remember, insurance is NOT replacement cost -- you are only entitled to what the vehicle was worth prior to the loss. Just call the adjuster and ask him/her how they arrived at that amount. It's possible they have made an error.

Answer 7

No insurance company pays full value for a total, it's fair market value.  Not the cost of repairs, not what it cost when yo bought it, not replacement value, but fair market value, adjusted for condition.

If you don't think you're getting that, the best source of information would be your own insurance agent, who can tell you if you are being treated fairly.