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Negotiating with Car Insurance Companies

  • TBone14
    Thankfully, I've never had to deal with this before. I was involved in an accident on the interstate last Thursday. There was a crash in front of me and I stopped and guy behind me hit me. His insurance, (Geico), has accepted liability for my vehicle after conducting their 'investigation'. So I've gotten the vehicle to their shop they wanted to use to get an estimate and I spoke with the claims adjuster and he fears they may need to total the vehicle.

    Some research online would suggest that KBB value would be less than I owe on the vehicle so I'm assuming if they total it, I'm going to get a shitty number from them and that likely won't cover what I owe. So I'm bracing for a bit of a standoff. Has anyone dealt with this before? What options do I have if their number is lower than what I owe and if that is the case, what tactics can I use to get a better offer from them?

    Also- I don't have GAP insurance and you can spare me all the lectures on how dumb that may be and how financing vehicles is stupid. I'm aware of all of that.
  • Ironman92
    Been with the same place for 20+ years and am happy with the coverage I get and the price I pay. Very good friends with the owners daughter....not sure if that has helped me or not. Homeowners from the same place.

    Have never negotiated but have switched very early in my married life. The couple times other agencies have tried to lure me they ended up not being able to match coverage/price.
  • Azubuike24
    Message me if you want to know specifics. Been in the industry in casualty claims for a decade. If you're in Ohio, you have certain options. And they have to abide by certain claim handling guidelines. It's not black and white.
  • TBone14
    Ironman92;1864061 wrote:Been with the same place for 20+ years and am happy with the coverage I get and the price I pay. Very good friends with the owners daughter....not sure if that has helped me or not. Homeowners from the same place.

    Have never negotiated but have switched very early in my married life. The couple times other agencies have tried to lure me they ended up not being able to match coverage/price.
    It's not my insurance company. The gentleman who hit me has Geico, who has assumed liability for the accident. So I didn't have to make a claim through my insurance company.

    However, word has come down that my vehicle is fixable but it was close to the threshold. So, good news all in all. There wasn't any frame damage so hopefully I don't take too much of a hit on the trade-in when the time comes.
  • 4cards
    TBone14;1864033 wrote:Thankfully, I've never had to deal with this before. I was involved in an accident on the interstate last Thursday. There was a crash in front of me and I stopped and guy behind me hit me. His insurance, (Geico), has accepted liability for my vehicle after conducting their 'investigation'. So I've gotten the vehicle to their shop they wanted to use to get an estimate and I spoke with the claims adjuster and he fears they may need to total the vehicle.

    Some research online would suggest that KBB value would be less than I owe on the vehicle so I'm assuming if they total it, I'm going to get a shitty number from them and that likely won't cover what I owe. So I'm bracing for a bit of a standoff. Has anyone dealt with this before? What options do I have if their number is lower than what I owe and if that is the case, what tactics can I use to get a better offer from them?

    Also- I don't have GAP insurance and you can spare me all the lectures on how dumb that may be and how financing vehicles is stupid. I'm aware of all of that.
    ...PAIN AND SUFFERING! I think you "MAY" have some neck issues that will get better with a HUGE $$$$$ figure that will help cover the difference between the KBB amount and what you owe if they total it.
  • queencitybuckeye
    4cards;1864081 wrote:...PAIN AND SUFFERING! I think you "MAY" have some neck issues that will get better with a HUGE $$$$$ figure that will help cover the difference between the KBB amount and what you owe if they total it.
    and remember, 4cards doesn't get paid unless you get paid.
  • Ironman92
    TBone14;1864073 wrote:It's not my insurance company. The gentleman who hit me has Geico, who has assumed liability for the accident. So I didn't have to make a claim through my insurance company.

    However, word has come down that my vehicle is fixable but it was close to the threshold. So, good news all in all. There wasn't any frame damage so hopefully I don't take too much of a hit on the trade-in when the time comes.
    Have definitely been fucked over 2 different times by other insurances from accidents. Hope everything works out for you there. One time we had to get an attorney and it took 2 1/2 years for compensation.
  • mcburg93
    TBone14;1864033 wrote:Thankfully, I've never had to deal with this before. I was involved in an accident on the interstate last Thursday. There was a crash in front of me and I stopped and guy behind me hit me. His insurance, (Geico), has accepted liability for my vehicle after conducting their 'investigation'. So I've gotten the vehicle to their shop they wanted to use to get an estimate and I spoke with the claims adjuster and he fears they may need to total the vehicle.

    Some research online would suggest that KBB value would be less than I owe on the vehicle so I'm assuming if they total it, I'm going to get a shitty number from them and that likely won't cover what I owe. So I'm bracing for a bit of a standoff. Has anyone dealt with this before? What options do I have if their number is lower than what I owe and if that is the case, what tactics can I use to get a better offer from them?

    Also- I don't have GAP insurance and you can spare me all the lectures on how dumb that may be and how financing vehicles is stupid. I'm aware of all of that.
    I would have a second shop give you an estimate and look at your car. My experience dealing with an insurance recommended shop is they do the bare minimum. I have had a few accidents, none my fault, each time they wanted me to go to their shop. I took it to their shop and guy gave me a quote. I took that quote to another shop and the guy there said he dont have half of the broken parts listed. The difference in the prices were about 1500. The guy explained that the recommended shops use repop and do the bare minimum. Also request oem parts and not repop parts. Good luck
  • GOONx19
    When someone hit my car last year, my insurance company told me specifically not to go to the auto shop recommended by the other insurance company. My agent said that you have the right to choose any auto shop you prefer, and that almost all investigators have wink-wink deals that benefit their company more than their customer's accident victim. I don't know if it's true or not, but I picked my own and the other person's company ate 100% of the $8000 bill.
  • TBone14
    GOONx19;1864420 wrote:When someone hit my car last year, my insurance company told me specifically not to go to the auto shop recommended by the other insurance company. My agent said that you have the right to choose any auto shop you prefer, and that almost all investigators have wink-wink deals that benefit their company more than their customer's accident victim. I don't know if it's true or not, but I picked my own and the other person's company ate 100% of the $8000 bill.
    My vehicle is a Ford and they used a local Ford dealership. OEM parts and work guaranteed by the dealership. Seemed ok to me. I would not have let them take it to Jim Bob's Collision and Repair.
  • Verbal Kint
    GOONx19;1864420 wrote:...and that almost all investigators have wink-wink deals that benefit their company more than their customer's accident victim. I don't know if it's true or not,
    I doubt it, I am sure the ODI would have found out by now if that existed like they did with attorneys referring clients to chiropractors. The deal with preferred shops is reducing rental time, as those vehicles get priority on repair. OEM vs AM is a different topic, and "Reconditioned" or "Used" (taken off wrecked autos where damage did not occur has everything to do with the age or the vehicle.
  • Verbal Kint
    TBone14;1864425 wrote:My vehicle is a Ford and they used a local Ford dealership. OEM parts and work guaranteed by the dealership. Seemed ok to me.
    You should be golden then. You (plural general) can always turn a claim into your own carrier, pay the deductible, have them go after the other carrier for the damages including your deductible.