My ACV came back way lower than expected. My parked car was hit by a DoorDash driver, and now his insurance wants to total my car from pictures and is only offering $2,400. That’s not enough to repair or replace my 2006 Hyundai Sonata LX V6. I was hoping for around $3,000-$3,500.
To make matters worse, it seems like if I accept the offer, they’ll take the car, leaving me with nothing. I asked for a third-party appraisal, but they’re saying I can’t request it since I’m not ‘named on the policy.’ Every valuation I’ve provided is being shot down as “market value,” and they insist they’re only responsible for actual cash value. Any strategies to increase this amount?
Hayden said:
It’s common for people to overestimate their car’s value, thinking it’s worth more than it actually is.
You’ll need to prove your car’s value with comparable listings or hire an appraiser (which can be costly). Avoid using sources like Kelly Blue Book, as that’s closer to retail, not ACV.
It’s not about opinion; it’s based on the valuation data the insurance company has. They process thousands of claims weekly and have the data to determine ACV.
ACV isn’t intended to cover the replacement cost, only the actual cash value. What documentation do you have to support your claim that it’s worth more?
Double-check your vehicle’s valuation details. The appraiser rates the condition of your car’s various parts (interior, exterior, etc.) and factors in accurate mileage and additional features (e.g., sunroof, power seats, or aftermarket parts not listed by VIN).
Insurance companies like CCC use local comps for similar models within a certain radius. Ask for a list of these comps, and sometimes you can request an expanded search area if they can’t find your exact trim. You could also retain the vehicle and apply for a salvage title, reducing the payout but letting you keep it for repairs or sale.
If you want, you could go through your own insurance if you have collision coverage, as you might have more leverage with them. They’d then seek reimbursement from the other party’s insurer.