Quote:
Originally Posted by Matt Reeeeead
IMO, insurance companies likely always start with an offer below true FMV as a negotiating tactic. The average person is going to accept the first offer they get as long as it isn't completely ridiculous. I don't think it takes much to get a second offer out of them. Showing some restraint and making them do some more work is probably enough. I don't think they toss out their list of verifiable sales because some guy sends some random non verifiable information at them.
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Well what really happens is they look around (talk to dealerships, etc.) and get an idea of what the car is worth. Its not going to be a straight pinpoint price, but in a general range. Then they look at the specific vehicle and alter the price based on the condition of the vehicle that was lost. Come up with a decent value and put it forward.
So really if the insurance company says "we can give you $7000" and you think its ridiculous because of legitimate things, and are asking for $8000, you can argue it with them and probably come to an agreeable amount. It doesn't mean that you're always going to get $8k, but if you have some evidence that your vehicle is selling for more, has lower mileage, better features and that kind of thing there is some room for movement there.