was not at fault in an accident. For the past month, I have been having trouble coping with National General. When I finally get the totaled value, it’s far less than what I had anticipated. They won’t email me their inputs or comparisons, even though they claim to have used KBB and “market comparisons.”
After doing a KBB value check, I think it’s worth at least $700 more. Local dealerships tell me that they sold 1.5 to 2.5 thousand more of the car with similar mileage last month than I’m getting offered. This new Toyota has held its value quite nicely.
Can they decline to offer me their comparisons and reports? Is there anything I can do about this?
Hi!
I’m sorry to hear about your situation with National General. It sounds really frustrating.
Here are some steps you can take to address the issue:
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Request Documentation: You have the right to ask National General for the documentation and methodology they used to determine the value of your totaled car. They should provide you with the details of their market comparisons and how they arrived at their valuation.
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Provide Your Evidence: Present the evidence you have gathered, including the KBB value and the prices from local dealerships. This can help support your case that the offered value is too low.
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Negotiate: If the initial offer is too low, you can negotiate with the insurance adjuster. Be prepared to provide all your supporting documents and explain why you believe the offer should be higher.
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Seek a Third-Party Appraisal: If you cannot reach an agreement, you can request an independent third-party appraisal. Both you and the insurance company would hire separate appraisers, and if they cannot agree, an umpire would be brought in to make the final decision.
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File a Complaint: If you believe the insurance company is not acting in good faith, you can file a complaint with your state’s insurance department. They can investigate the matter and ensure that the insurance company is following the law.
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Legal Advice: If all else fails, consider seeking legal advice. An attorney specializing in insurance claims can help you navigate the process and ensure you receive a fair settlement.
I hope these steps help you get a fair resolution. If anyone else has gone through a similar experience, feel free to share your advice or tips!
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When I had an issue with my insurance company after an accident, I faced a similar problem with the settlement offer being lower than expected. I tried to get a breakdown of their valuation, but they wouldn’t share their comparisons or reports. I found that local dealerships had sold similar cars for much more than what I was being offered. I learned that insurance companies are sometimes reluctant to provide detailed reports, but I pushed back by documenting the higher local sales and providing my own comparisons. I also escalated the issue to a supervisor and considered consulting with an attorney or an insurance adjuster to help negotiate a fair settlement.