Need Help - CR Total Loss Appraisal

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05-12-2017, 01:55 PM

#11

kukudm

Join Date: Jan 2011

Posts: 177

Likes: 6

Received 7 Likes on 6 Posts

Glad to hear you're OK. Sorry for your loss.

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05-23-2017, 05:28 PM

#12

zakiu

Join Date: Nov 2002

Posts: 703

Likes: 5

Received 13 Likes on 11 Posts

Sorry to hear about this happening. You don't have to be stuck with the low ACV. The laws vary by state, and I don't know what state you're in, but the last time this happened to me, I had to have my car's ACV boosted from 13k to 24k and it was relatively stress free. If you have questions you can PM me.

Sounds like you've been through several steps. Here is what comes next:

You have an insurance ACV. This is not a fact, just their opinion. Now it is up to you to debate it. There will likely be 2 phases to this:

1. Present your own comparables. Find other Apex Blue CRs with similar mileage in your area and present those ads to the insurance company. If there are not enough locally, you will need to expand your search to the west coast or even nationally. I would recommend finding the higher priced ones as the lower priced ones typically have prior accidents or shady histories. FInd whatever is equivalent to your car and present that.

This is likely enough - once they have some more accurate comparables, they will evaluate and come back to you with a new ACV. Finding other 01 S2000s that were GPW with under 30k miles was very tough for my insurance company, they came back with dumb comparables (like an 01 Rio with 70k and an 02 Suzuka with 50k, both far less valuable) and I had to do the work for them. Once it was done the underwriter was happy to have his work done for him and agreed on the 24k valuation and my car was repaired. If this doesn't work:

2. You are entitled to a third party appraisal. Seeing as you already have one from 3 weeks ago - just present that to them instead of going through #1 to get to #2. Present the independent appraisal and see what their response is. They will likely accept it. If not, you will go through process #1 first and then have to come back to #2 and possibly get another independent appraisal for $100. It is worth it.