NewsShooter
Marksman
I was in a hit and run back on New Year's Eve in my 2004 Volvo S40 T5 - which I had owned for less than 2 months. I bought it from Butler Hyundai for $15,000. The private party Kelley Blue Book on this car as of today is roughly a little more than $11,000.
I took it to a Ford/Volvo dealer to have the damage estimated with the insurance appraiser. After their inspection, the total estimate came out to $10,900.
As soon as I heard the estimate, I called my claim rep and asked her to total the car out on the grounds that the diminished value of the car when completely repaired would be less than the cost to repair the vehicle. Let me digress by stating that I know that in the State of Indiana there are no laws/regulations covering the diminished value of a car involved in an auto accident. However, I used this as my argument that the car should be totaled.
45 days later the initial repairs were finished and the car was returned to me. I drove it for 12 days and took it back with 5 mechanical issues that were improperly fixed and another 5 that were never addressed. I should get the car back Monday with the second round of repairs costing between $1,000 and $2,000 - bringing the total repairs to approximately $12,000.
My claim rep. has now instructed me to get 3 quotes from dealers aquiring an appraisal of my vehicle WITH the damage it has suffered and had repaired...along with the retail cost of a similar model with no damage history. My first appraisal from a Volvo dealer place the value of my newly restored vehicle at $5,500 when considering the severity of the damage it suffered. The current going rate for my year, make, model is still approx $15,000.
I know that's a long story, but I was curious if anyone has any experience in situations like this or can add any advice on how to deal with the insurance company to try and recoup some of the money I've lost out of the vehicle?
thanks.
I took it to a Ford/Volvo dealer to have the damage estimated with the insurance appraiser. After their inspection, the total estimate came out to $10,900.
As soon as I heard the estimate, I called my claim rep and asked her to total the car out on the grounds that the diminished value of the car when completely repaired would be less than the cost to repair the vehicle. Let me digress by stating that I know that in the State of Indiana there are no laws/regulations covering the diminished value of a car involved in an auto accident. However, I used this as my argument that the car should be totaled.
45 days later the initial repairs were finished and the car was returned to me. I drove it for 12 days and took it back with 5 mechanical issues that were improperly fixed and another 5 that were never addressed. I should get the car back Monday with the second round of repairs costing between $1,000 and $2,000 - bringing the total repairs to approximately $12,000.
My claim rep. has now instructed me to get 3 quotes from dealers aquiring an appraisal of my vehicle WITH the damage it has suffered and had repaired...along with the retail cost of a similar model with no damage history. My first appraisal from a Volvo dealer place the value of my newly restored vehicle at $5,500 when considering the severity of the damage it suffered. The current going rate for my year, make, model is still approx $15,000.
I know that's a long story, but I was curious if anyone has any experience in situations like this or can add any advice on how to deal with the insurance company to try and recoup some of the money I've lost out of the vehicle?
thanks.
