Guys: Was in an auto accident last week and my 2006 F150 was totalled. My question is does the insurance adjuster give me retail or wholesale and how much back and forth is there to agree on a price so I can shop for my 2013?
Thanks,

 

In most cases they will search for retail pricing for similarly equipped vehicles in your area and base their offer off of that.

 

They are supposed to use an independent appraiser.

Depending on what kind of records you have, you can get more.

For example, My '02 F250 was stolen in May of '11 with 304k on the clock.

I was originally offered NADA book price of $5500.

The truck was in very good shape, I had service records and I had oil reports from Blackstone saying what great shape the engine was in.

The upped the offer to $11,xxx. Ended up with 12,600 after TT&L.

If you disagree with their appraiser, you can hire your own and go about it that way also.

Give it a shot, all they can do is say no.

The important thing is to be honest with yourself on what your truck was really worth.

 

Thanks. Heard back today from adjuster and was satisfied with the offer so things worked out fine. Now it's time to get a new truck

 

Congrats. My wife is an adjustor. They typically look at NADA value and pull a few for sales in your area. there isnt a whole lot of room for negatiation (sometimes none). doesnt matter if you just spent $1500 on new tires, engine work etc. However, if you find quite a few for sale at a higher price than their offer, print them out and ask the adjustor. These are just F150s, there isnt any shortage of them or anything. Glad you were happy with the offer. Most of them are pretty fair.

 

I agree with everyone, fair market value of similar vehicles in one's area.

 

I went through the exact same thing with my 2005 being totalled. Make sure that you claim any additions to your 2006 like aftermarket stereo, new tires, remote start. It added value to my total and Instead of initially being upsidedown and needing to make a GAP claim to getting back almost $2000. ALSO!! Make sure you get the detailed break down of your appraisal....The appraisers that did my estimate missed some big ticket items like heated leather and some other items and my insurance adjuster added it into the claim.

 

Just got mine for our totalled '98 Exploder. Based on what I see for sale, I did just fine. They got a few things wrong equipment wise, but some went my way, some the other. Mostly it was based on what they found for sale that was similar to mine. Now, as with the OP, on to buy another "rolling pile of misery" as Numberdummy would say.....