My car was in a flood. Insurance said car is a total loss right away. Few days ago they offered me 5k for my great condition, low mileage (60k) perfect running car. They compared my car to 3 other cars. 1 listed for 5k, 2 listed for 7k and 3 listed for 8k. The 8k listing has 120k miles. The 5k listing is beat up looking inside and out and has over 20 thousand more miles. My car is clearly the best out of the 3 my insurance provided as comparables.
Why would they even provide a $8k car with 120k miles (my car has 60k miles) car as a comparable and only offer me 5k??? Should I ask for 8k?? Thoughts please.
Posted by Significant-Print-96
3 Comments
>Should I ask for 8k??
You can ask, but you’re not getting 8k simply by just asking for it. You’ll need to document that your car is worth 8k.You’ll need to provide comps that have sold for around 8k.
What’s the year, make, and model of your car?
>Few days ago they offered me 5k for my great condition, low mileage (60k) perfect running car.
What’s the year, make, model of your car?
>Thoughts
Do you have an agreed value policy? If not, you’re owed the actual cash value of your *used* car which is apparently $5k based on the comps provided