Totaled truck and insurnace payout

Punchdrunk Monkey

Punchdrunk Monkey

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My 2020 Ford Raptor was rear ended and ends up the insurance company (AAA) is going to total it out. They are offering 76k for it. That is the KBB price. Well I did a quick search and there are very few equivalent replacements and the ones available are priced more than KBB. Plus the ones available are not exactly what I would want. 

I am not sure what to do here. I don't want to spend 80k+ to replace my truck and not get exactly what I want. I don't think I can replace my truck for the 76k offered. Well I do still owe on it so really I'll only get around 35k. I would have to assume a new loan, which I had anyways.

What leverage to I have with the insurance company? They are trying to get me paid out ASAP. I think I need to slow them down a little.

 
I just bought a 2019 with $36k miles for $72K, fully loaded other the carbon package.  What is the cost AAA is offering to get it back with a salvage title?  Must have been a bad accident to total a $76k truck?

With the Gen 3's out now, you would think the Gen 2's would come down in price, but it doesn't look like it, bummer all around.

 
They are saying 50k in damage. Yikes! it didn't look like that to me. They didn't say about the salvage title but the whole rear end was pretty bad, I don't want to mess with it. I'm not looking for a project.

 
Punchdrunk Monkey said:
They are saying 50k in damage. Yikes! it didn't look like that to me. They didn't say about the salvage title but the whole rear end was pretty bad, I don't want to mess with it. I'm not looking for a project.
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I got a 17 raptor with 45k miles I will sell you for $65k

20220419_073324.jpg

 
Had a similar situation and I had to find like vehicles on auto trader, etc.  Printed them out and took to insurance agent to show the current market to replace my like vehicle.  They adjusted their offer to reflect the current market at the time.  

 
I had something similar happen to me.  My truck was stolen and recovered but the damage done they said exceeded the value of the truck. They offered me X and I told them I could not find a replacement for that amount. They countered again this time( this was a while back) I had copied all of the trucks that were like mine before it was stolen and the cost of them and faxed the ad to them.  To get my point as I single page fed the 8 pages or so to them I did it like 4 times. 

They then offered me what was reasonable.  What really sucked was during the entire time I was in process of closing on my house so even when they settled I had to wait to buy a new truck, Also when I finally got my checks, minus my deductible I only owed $650 some odd dollars to the bank. Ended up with a brand new mortgage and truck payment the same week. 

 
ez71pilot said:
Had a similar situation and I had to find like vehicles on auto trader, etc.  Printed them out and took to insurance agent to show the current market to replace my like vehicle.  They adjusted their offer to reflect the current market at the time.  
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I have found AAA to be pretty fair on their value in the past.  They show you all the ads they use to decide the value, they never used KBB with me.  They have totaled three cars for me (freaking kids)

 
I just got the email from them and they did not use KBB, they comp'ed out sales of a couple truck like mine. She did say if I couldn't find anything in 30 days and if I show them the prices are higher, they would consider a higher price. Guess I have to do a little work. 

 
Yep they probably  use CCC to value trucks... check their comps and find some of your own.  Gonna have to put in the work to justify a higher value. 

 
Punchdrunk Monkey said:
I just got the email from them and they did not use KBB, they comp'ed out sales of a couple truck like mine. She did say if I couldn't find anything in 30 days and if I show them the prices are higher, they would consider a higher price. Guess I have to do a little work. 
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sounds like MGMFRP needs to put an ad up for 1 day for his truck with a higher price--hey you never know, it could sell!,  then take it down  LOL :classic_ninja:

 
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50k in damages. They then factor how long you would be in a rental and part price increases and hidden damage to decide whether to repair or not. If you absolutely cannot come to a satisfactory settlement, contact YOUR insurance company. You pay them to help in these situations. Like others have said, do some research and find the real value for your loss and show them, they will work with you.

 
My son just went through this. Ambulance ran a stop sign and broadsided the car with the girlfriend and kids in the car. Insurance offered what was available through the adds. Problem was none of the vehicles had the same options. So he refused there offers. After 2 months they wouldn't budge. So he went and bought a new car. They sent him a check and wanted the title. Told them to pound sand. Still fighting it.  Farmers Insurance by the way.

 
we are going through a similar thing with my sons car.  IMO, you dont have much leverage here.

 
We had that issue with a very low mileage Honda. We had under 50K on a car that the norm would be around 120 or higher. They were showing us adds for cars with 200K and that's all they wanted to give us. We did get them up a bit but that car with the low miles was not out there. 

 
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