2013 Prius Totalled, Insurance undervaluing it. HELP

Get comparable car info from Toyota dealer certified pre-owned inventory. Tell the adjuster that's the condition of your car before the accident. Only use the dealers certified pre-owned prices as comparison. Your argument would be that none of the other "private" sale vehicles meet the condition of your car, it's in "BRAND NEW CONDITION".

The car's mileage only accounts for a fraction of the car's price. Overall condition is very important.

 

When my 04 Yukon was stolen a few years ago, I managed to get over $2k more than the original adjuster quote by providing my own comps in my area, dealer service records, pictures. Don't accept their 1st quote.

DROIDX ? 2

 

Don't forget the adjuster gets paid to pay you LESS!

DROIDX ? 2

 

For a few dollars a year, I always opt for the new car replacement feature which gets you a new model if yours is totaled. It stays in effect for 3 years.

 

contact your insurance company, don't deal with the adjuster. as stated above, find some comps, and see what kbb and nada are showing. what does take it or leave it mean? contact your consumer affairs office, you need to know your rights. all the best!

 

I assume this is the insurance adjuster for the Trucking company. Where is your insurance company or is this a no fault state? Your company needs to get in the middle and fight for a fair settlement.

It's never "take it or leave it" they have to settle with you or you go to court. You might pay a lawyer to write a letter to the the insurance company. With a verified threat of litigation they usually up the offer. Does anyone in the car suffer from anxiety attacks after the incident?

 

$16,400 is not completely out of line where you would need the services of a lawyer. You have to remember the 2014 Prius II will only sell for about $21000 with all discounts applied. So the time you've had it, it's depreciated $5000.......which is in line with the car's depreciation.

I still think using dealer CPO prices as comparison would be your best chances at getting more money. That's how much the replacement car would cost, in the same "brand new condition" as your car.

 

i just checked kbb, private sale in my area is $16,400.

 

Although 37k ins't a lot of miles per se, it puts the car past the basic 3yr / 36k mile warranty.

I had my entire radio unit replaced (garbled screen) under warranty at about 10k mi or so. That would have cost a grand out of pocket if it happened over 3 yr / 36k.

 

Legally, you are entitled to be restored to the place you were BEFORE the accident.

That someone else is at fault (and insured) helps.

The insurance company goes by book value, you should threaten to lawyer up (especially if there is the slightest bit of injury involved), and demand they compensate you what it would cost to replace your Prius with one of comparable age and overall condition as the one you lost.

I had a pickup totaled in an accident. When a salesman saw how clean I kept the engine compartment, he told me he could have easily gotten way more for the truck in a sale (pre accident) than what it was valued at by the insurance company. A truck of that age is presumed to not be so immaculately cared for. The "book" doesn't account for those factors. You might need someone of some expertise to "appraise" your Prius at what it was worth before the accident.

 

It costs him nothing to open with a "firm" low-ball bid. Maybe you'll fall for it. The worst that can happen is that you drive him up to a realistic price.

 

For some of the posters I have not heard of no law that makes sure the ins pays you what you think the car is worth, or a dealers value or even a PPV. I have always been told by my ins that I could expect a trade in value. And I trust that they would pay that but highly doubt I could get the Retail value. If you had some type of plan that promised something you need to look into that. But be nice and keep asking them or trying to state your case and maybe they will give you more money, but they are in it to make money off of you, not to make you happy.

 

I think you are correct. I agree with you.

 

There is no "law," but in tort actions (USA), a victim is entitled to be restored to where they were at before the accident happened. This is a matter of American jurisprudence, and it applies in all 50 states. How well it is followed in a court depends on how that state's courts have ruled to refine the concept in individual cases.

Most times, especially with older cars, the book value is fair. It never should be "trade" value, because that's a low-ball price. It should be what you can expect to pay to replace the vehicle if you went out to buy a duplicate of what you owned (aka Retail).

The book value, even at retail, can be wrong if the vehicle in question had extensive modifications not found in the average make and model of that year, was immaculately maintained (where others of that age are often well-worn), or the supply/demand factor for that area (say Alaska or Hawaii compared to Tennessee) would make it significantly more expensive to replace the vehicle.

Insurance companies follow a "take it or leave it" mentality when they send an adjuster to settle a case, but if they are threatened with legal action, the money they hope to save by low-balling a settlement offer will evaporate the second they have to bring in an attorney to defend their position. If there is a case of clear liability, they know they will lose in court and can only argue the question of compensation...which, even if they win, they will spend more than if they just made a more realistic settlement offer.

When personal injury is involved, the adjuster is often no longer part of the process and you tend to get a better settlement on properly loss because the insurance company wants to settle rather than pay the lawyer to fight it in court.

 

Years ago State Farm tried to total my Honda Civic CRX with a lowball offer which ignored the fact that it was the top trim level with lots of extras. I filed a complaint with the NY State Insurance Commissioner which included a list of advertised selling prices of comparables, and State Farm eventually paid me the true value.

Here's the contact info for Utah:
State Insurance Commissioners Office
Utah Department of Insurance
3110 State Office Building
Salt Lake City, UT 84114-1201
Main Phone: 1-801-538-3800

 

What I don't quite understand, is if the adjuster was comparing the OP's Prius to 11 Prius that had 20,000 FEWER miles, wouldn't that raise the value of his Prius?

If those Prius had fewer miles, they are going to be worth MORE than the OP's Prius with higher miles?

I guess I'd want to compare Oranges to Oranges. How much is a Prius II with 35,000-40,000 miles on it worth?

That's the value number I would want.

And that determination should be possible, and defendable if the OP is forced to fight for more value.

I hate to hear stories of people having to fight with insurance companies, either their own, or others. All responsible and legal drivers pay for insurance, and when things DO happen, we shouldn't be forced to have to fight to get honest value.

Good Luck, I hope The OP can get decent/fair value for his vehicle.

 

I think ftl posted a good opinion. I would follow his advice. I have no experience with what you are going through but I doubt if you could buy a 2013 Prius II with 37,000 miles on it for $16,400. I think it would be much more than that. You have a nearly new car. It seems to me you should get the price that it would take to buy a car of equal value to what you have.

 

I don't know how much it varies in other jurisdictions, but there's usually a dispute-resolution process for insurance claims. You don't have to settle for anything, but eventually, an arbitrator may have to settle it.

 

Maybe the OP should use their freedom of speech and tell us the name of the company?