Question:
'89 benz 300E. can my insurance lower their original offer if i submit research asking for more money, that they decide works against me due to mileage? my car is in borderline excellent condition. 200,000 miles. how much is it worth? the car works, but the back tire is damaged, possibly the axil, and the bumper on the side is very dented. how much would it cost to fix it?
Answers:
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Most Insurance companies use what is called an ADP to value your car, this consists of getting a blue book value and a salvage bid on the car and then they put those 2 numbers into a formula to find out how much they will spend to fix your car, most of the time this is roughly 75% of the value of the car. If it has extremely high miles and 200k is then you will probably have little room to haggle with them. Take the car to a reputable shop to get a estimate and they can help you through the process.My car shakes and won't accelerate...help!?
To get a higher offer, you need to submit: A)proof that similar models in similar condition are being sold for more in your area, or B) Show receipts showing you have invested a significant dollar amount in recent restoration or aftermarket value (e.g. expensive paint, etc.) Note: They can still deny your request!Where can I buy new exhaust manifold bolts for a 92 Isuzu Rodeo 6 cylinder?
If you do either of the above, I can't see them LOWERING the original offer, since they have presumably already factored mileage into their offer.
if you really like the car and want to keep it the best strategy may be to settle for the amount of the total value - less the salvage value - and retain the salvage car. for instance - lets say that the car is "worth" $4000 and they will pay $4000 to settle your claim as a "total". the salvage value might be say $500 (or less). so they pay you $3500 and you keep the car. then you go get a wheel and tire and maybe an axle and mabe a bumper from a scrap yard (or a refinished bumper) and put the car back together for say $2-3000 (or less). now you still have your car - probably as good as it was and a little pocket change. there is another possibility - if you do not think they are paying you enough for your car - read your policy and see if it states "replace vehicle with like and kind". usually that is what they say - because you can NOT force the insurance company to repair your car if they do not want to. their only duty under the policy usually is to provide you with a "like and kind" car equivalent to the one you had (which can be your car repaired) or - the fair market value of the car as was/where was so you can buy another "like and kind" car.
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