my sons truck was rear ended a couple weeks ago, insurance says they are going to total it (body shop hasn't given them an estimate yet)
95 F250 5 speed 4X4 steel flatbed with built in tool boxes, replacement bed is almost $7,000.00
they are saying value is $9,600.00 and $3,000.00 buy back with salvage title
truck was an Arizona truck no rust, 250,000 miles.
I haven't found anything close for under $20,000.00
how do you get fair value from the insurance company?

 

That must have been a hard hit. I hope he is doing well.

I feel like truck prices are over inflated right now. Trying to get insurance to match those will be tough. Probably the best way would be to get some prices from various sources to validate the truck’s value. I had to do something similar a couple years ago on one of my trucks. But I was only looking for a few more K. Going from 9.5 to 20 will be a challenge.

 

Tell them to find you one for their value. BTDT with my 05 Envoy SLT 4x4 that was totaled about a year back. Ins comps were all 2x4 SLE aka no option SUVs. First offer was comical at best.

You will have to do leg work for its value. If dually was totaled and showed me a check for 10ish I would walk from it probably. Maybe buy it to part but eh, 3k versus time and hassle. Not worth it to me.

Good luck. It is a MFer.

 

There's a huge difference in actual value (what the bank will loan or insurance prices) and what some people are willing to pay. Right now, the sky is the limit with asking prices simply because SOMEBODY will pay it.

 

Sorry to hear about this.

When mine got rear ended 5yr ago they initially tried to total it. I submitted receipts for everything I did to the truck to increase the value. It did get the value high enough so that it wasn't totaled. They gave me a fair amount to fix it.

They asked me why I just don't buy another one. I asked them to find me one in the same condition for the amount they offered. They didn't even try.

I lucked out with the insurance and found a good body shop that worked with me on everything.

Hope your luck is similar!!

 

You will have to fight for market value versus what they think it is booked at for replacement. Don't give up either. They will cave eventually. Or, you can do like I promised myself I would should I ever go through it again (went through this 5 years ago)....get a lawyer. I don't like to play that way, but they specialize in the business of screwing you in ANY way possible. The simple presence or letter from an attorney will usually light a fire under their azz and get them to pay fair. A rear-end collision accident can get expensive real quick, and they know that.

 

the one lawyer he talked to said they could "probably" get them double on lost income, then take 33% of all of it? that math doesn't work. but said they would not fight for the value of the truck.

 

You have to consider what happens after the payment from the insurance company takes place. Whatever amount that may be.

There is a fine line between being happy with your payment and your current insurance and getting what you want for the payment and subsequently dropped from the policy.

Sure, you can seek other insurance after the settlement, but you can guarantee that the new insurance company will check the policy history and why the change of companies is taking place.

I fully understand and agree that these trucks are worth more to us than some bean counter that drives a Honda Insight, but we are the ones that are at their mercy when the premium is adjusted based on your state's claims for the past year. We are the ones that are at their mercy when they force us to take action that will yield an uncertain future in the insurance policies that the law dictates we have.

Only you and your family know how far is too far to push for a suitable payment. We are just strangers online that have no benefit or consequences for your actions, be them professional legal advice or or not.

I do NOT back down in the face of aggression and anything I say here I would say to your face. But, I also try to be smart about the battles I choose to fight as I am the one that is subject to changing and dealing with my future and the future of my family in all aspects of our lives.

Good luck sir.

 

How well do you know your agent? Depending on the claim, I have had adjusters separate than the agent I normally deal with. If anything goes sideways, I have been able to ask my agent directly and he has helpful in sorting out the needed information so I get the most out of my claim. Granted, I live in a small community and I know that is not everyone’s experience but it may be an option for you.

 

he lives in Missouri, his agent was MIA, didn't care wasn't their problem. granted he had cut rate insurance to " save a few bucks" so he paid for it. he settled for $9,000.00 with $3,000.00 buy back on the truck. basically got $6,000.00 for the truck.

 

Will that be enough to get it fixed?

 

he said he can straighten the bed good enough, replace the body mounts, move the cab back where it belongs and a new radiator, so yeah.

 

That sounds a hard hit. He got rear ended and needs a new radiator? What hit him?

 

not sure what it was, his hat was in the back seat, he said he can see where all the body mount have been since it was built and there is probably 3/8" difference.

 

Dang, hope it all works out for him. Insurance companies are generally terrible.

If someone rear ends my truck with any speed they probably aren't walking away. Sounds like he got hit pretty good to if it tweaked a steel utility bed.