How do I ask for more money on a totaled car?

From Wreck to Right: Getting the Fair Value for Your Totaled Car

Finding out your car has been totaled is never good news. Beyond the immediate inconvenience of being without transportation, a major headache often looms: negotiating a fair settlement with the insurance company. While the insurer might seem to have all the power, you have rights and strategies to ensure you receive the true value of your vehicle. This article provides a step-by-step guide to help you maximize your settlement offer and avoid getting shortchanged after a car is declared a total loss.

1. Understanding the Insurance Company’s Valuation:

The first, and arguably most crucial, step is to understand how the insurance company arrived at their offer. Ask for a detailed breakdown of their valuation. This should include:

• Year, Make, and Model: This confirms the correct vehicle is being assessed.
• Mileage: Accurate mileage is crucial to determining value.
• Condition: This is where things get subjective. Understand their assessment of your car’s pre-accident condition.
• Comparable Vehicles (Comps): Find out what vehicles they used to determine the average market value. Ask for the specific details (VIN, mileage, asking price) of these “comps.”
• Adjustments: Understand how they adjusted the price of the comps to reflect your vehicle’s specifics. This could include deductions for existing damage or additions for upgrades.

2. Do Your Homework: Researching Comparable Vehicles:

Don’t blindly accept the insurance company’s valuation. Conduct your own independent research! Sites like Kelley Blue Book (KBB), Edmunds, and NADAguides are good starting points. However, focusing solely on these sites can be misleading. The key is to find actual comparable vehicles for sale in your local market.

• Expand Your Search: Use online marketplaces like Craigslist, Facebook Marketplace, Autotrader, and Cars.com.
• Focus on Local Results: The value of a car can fluctuate based on location. Prioritize vehicles in your area.
• Document Everything: Keep meticulous records. Print screenshots of each vehicle listing, noting the VIN, mileage, asking price, condition, and any features or options.
• Be Realistic: Acknowledge any pre-existing damage. Your goal is to establish a fair market value, not an inflated one.

3. Highlighting Upgrades, Recent Repairs, and Exceptional Condition:

This is where you can potentially increase the value of your car. If your vehicle had any upgrades or recent repairs, be sure to document them thoroughly.

• Gather Receipts: Collect all receipts for upgrades, repairs, maintenance (like new tires, brakes, or a recent tune-up), and detailing.
• Highlight Factory Options: Note any factory options that may not be standard on other vehicles of the same make and model.
• Document Exceptional Care: If you took exceptional care of your vehicle (e.g., regular detailing, garage kept), provide evidence, such as photos and service records.
• Present a Compelling Case: Clearly explain how these upgrades and repairs increased the overall value and longevity of your car.

4. Considering a Third-Party Appraisal:

If you’ve done your research and still believe the insurance company’s offer is insufficient, consider hiring a qualified, independent appraiser. This is a crucial step, especially if you have a unique vehicle or feel the insurance company’s valuation is significantly lower than what you believe is fair.

• Find a Certified Appraiser: Look for appraisers with certifications from recognized organizations.
• Provide Documentation: Provide the appraiser with all your research, including comparable vehicle listings and documentation of upgrades and repairs.
• Use the Appraisal Strategically: The appraiser’s report can be a powerful tool in negotiating with the insurance company.

5. Negotiation is Key: Don’t Be Afraid to Fight for What’s Fair

Negotiating is a normal part of the settlement process. Be polite, but firm. Present your evidence, explain your reasoning, and clearly state the amount you believe is fair.

• Be Professional: Maintain a calm and respectful tone throughout the negotiation.
• Stay Organized: Have all your documentation readily available.
• Know Your Bottom Line: Decide on the minimum amount you’re willing to accept.
• Don’t Be Afraid to Escalate: If you’re not making progress with the initial adjuster, ask to speak with a supervisor.
• Consider Legal Counsel: If negotiations stall and you believe the insurance company is acting in bad faith, consult with an attorney specializing in insurance claims.

In Conclusion:

Getting the fair value for your totaled car requires effort and preparation. By understanding the insurance company’s valuation process, conducting your own research, documenting upgrades and repairs, and potentially seeking a third-party appraisal, you can significantly improve your chances of receiving a settlement that accurately reflects the true value of your vehicle. Don’t hesitate to advocate for yourself and fight for what is rightfully yours. The road to recovery from a totaled car doesn’t have to be financially stressful. Knowledge is power, and by following these steps, you can empower yourself to navigate the insurance process and achieve a fair resolution.