Help! Insurance Questions

4875 Views 59 Replies 23 Participants Last post by Trapper, Jan 14, 2017

G

Discussion Starter · Dec 30, 2016

Tire Wheel Car Automotive parking light Vehicle

Context.

I bought this truck new in June. Its a 2016 Ford F250 extended cab Super Duty, 4x4. I put a topper on it and a bed liner. I had a Yeti cooler and sone other things in the truck. It had 3500 miles on it and not a single scratch. It was immaculate.

On December 9th the jerks who robbed my house also took this truck and used it to haul my stuff away. It has not been recovered.

Numbers
What I paid for the truck: $46,000
Topper, bed liner: $2,000
Tags: $678
Personal goods including a 65 qt Yeti: $750
Total: $49,428

What USAA is telling me they will pay: $41,007

Question:
Do I have any recourse?

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Reactions: 1

1 - 20 of 60 Posts

meh.meh.meh.meh.meh.

· #2 · Dec 30, 2016

I don't have any answers for you, but keep on their ass. Insurance companies suck at life and need constant pressure to get what's fair to you. Also, would recommend not filing for another claim for at least a year if you can help it. Otherwise they're liable to drop your plan.

Good luck.

Old406Kid

· #3 · Dec 30, 2016 (Edited)

If you have a local agent, and haven't already, go see him in person for some help.
Small consequence but as far as the cooler, if you have off premises coverage on your homeowners it might be covered there.

If all else fails, the state insurance commissioner's office isn't too far away.

Robert Engleheart

· #4 · Dec 30, 2016

Can't answer your question but when my daughter's Mazda was stolen I was given a fair value + $400 for new tires I'd just put on it and reimbursed the $320 in state sales tax if paid when I bought the car.

2506

· #5 · Dec 30, 2016

The job of the insurance adjuster isn't to make you happy, it's to minimize the company's payout to you. Also, you may want to read your policy, there are often times a great many things not covered. It could be possible that the other items besides the truck proper are covered by homeowners/renters insurance. Many auto policies don't cover contents unless you add that on.
Check your policy, ACV policy pays what your car is actually worth and I think most policies are like this. RCV policy pays replacement value, and these are rare.

hbmcc

· #6 · Dec 30, 2016

They will screw you out of everything they can. And, they live for intimidation. Start screaming, politely, and don't quit. Recovered or not, you get a new vehicle.

And, mention Uncle Ted, in the urn. You were going to salt his favorite hill/creek/valley.

This is insurance. Not extortion.

G

Discussion Starter · #7 · Dec 30, 2016

I sent this post to the Montana Insurance Commission. I dont know if they will help or not.

freestoneangler

· #8 · Dec 30, 2016

Ask for them to itemize what is being covered at what value in the $41,007. I suspect you're simply seeing the depreciation. Unfortunately there is truth to the old adage about losing money the instant you drive off the car lot. I also think @2506 is correct in how most policies are written with respect to property value. This also further highlights why owning insurance stocks are usually a good buy and why they seem to always have lavish cooperate offices. On the plus side, at least you had insurance and are getting a significant portion of your loss back. It certainly won't hurt to grump at them a bit and try and escalate to upper management. Good Luck Trapper.

Shamoo

· #9 · Dec 30, 2016

#1 customer service!!! until they have to pay out

im a member too, good luck!

nomlasder

· #10 · Dec 30, 2016

Trap, so sorry for your hassles.
As much as I hate saying this, you may consider talking to an attorney.
The question is does your policy cover replacement cost or fair market value, or their own evaluation.
You have to consider your deductible in the calculations.
Also consider the difference between blue book and what the insurance pays out in your taxes this year as theft and loss.

Good luck
Ross

jeff bandy

· #11 · Dec 30, 2016

I would recommend you talk to the dealer you got it from. They will probably be more than willing to give you a break. Maybe even help with getting a better price for the canopy.

Can't hurt to ask. At least not more than it already does.

The T.O. Show

· #12 · Dec 30, 2016

Usually it's pretty difficult to get reimbursement for any modifications or possessions inside the truck. So I wouldn't expect them to cover your canopy, bed liner, or yeti unless you specifically insured those items and got them listed on the policy. And even though it's basically a brand new truck, they still have to depreciate it somewhat. Honestly, the amount they are offering you seems about what could be expected. No reason to roll over and take it though. Bug the hell out of them and they might give up some ground just to get you out of their hair. If any of the stuff from the house was covered by your homeowners insurance then just tell them the yeti was inside too.... Shitty scenario, thieves are the scum of this planet.

jersey

· #13 · Dec 30, 2016

Hang in there Trapper. This is the first round of negotiations. They are betting your patience will run out and you will accept the initial offer. The game sucks, the rules suck, but don't follow their script they are betting on.

Shamoo

· #14 · Dec 30, 2016

^^^^^^ you havent dealt with USAA before then. I did recently add a new vehicle to the policy and was given the option to pay a small monthly fee for - 20% over total loss recovery, on a total loss. wasnt aware of that before..I went for it in hopes it covers the depreciation if it happened. USAA pays out pretty easy for small claims but I wouldn't want to be in your shoes right now..
I am wondering if total loss and stolen are considered the same..a phone call will clear that up!

Jeremy Floyd

· #15 · Dec 30, 2016

My oldest brother is an attorney. He always negotiates vs insurance companies for me in the past.

I've never come out short once, and can usually get the insurance company to cover my deductible, in the case of an accident.

MT_Flyfisher

· #16 · Dec 30, 2016

Trapper -

Have you priced out what you could buy a new 2016 Ford F-250 today, with the same options that you had on yours? That could explain a substantial part of the difference between what you paid versus the insurance settlement.

You should be able to buy a brand new leftover 2016 off a dealer's lot today for quite a bit below dealer's invoice, plus Ford has pretty big incentives on those trucks right now, aimed at clearing them out of dealer's inventory.

I wouldn't be at all surprised if the identical truck you paid $46000 for this past summer could be bought today for under $40000. I would price it out on Edmonds.com to see what the pricing is, and then talk to my Ford dealer today or tomorrow to see what is available (they're probably anxious to give their best deals before month end/year end.)

John

G

Discussion Starter · #17 · Dec 31, 2016

MT_Flyfisher said:
Trapper -

Have you priced out what you could buy a new 2016 Ford F-250 today, with the same options that you had on yours? That could explain a substantial part of the difference between what you paid versus the insurance settlement.

You should be able to buy a brand new leftover 2016 off a dealer's lot today for quite a bit below dealer's invoice, plus Ford has pretty big incentives on those trucks right now, aimed at clearing them out of dealer's inventory.

I wouldn't be at all surprised if the identical truck you paid $46000 for this past summer could be bought today for under $40000. I would price it out on Edmonds.com to see what the pricing is, and then talk to my Ford dealer today or tomorrow to see what is available (they're probably anxious to give their best deals before month end/year end.)

John

I did exactly this.

My exact same truck is not in inventory anywhere in the US. To get one nearly the same, but lacking the options and the topper and bedliner, even given the end of year clearance rebates would cost $45K. Add the topper, and license and Im looking at $48K. And that would be for a lesser truck.

I told the Agent. If you believe you can buy a truck just like mine with 3500 miles on it, buy it. Ill give you the $41K and a $5K bonus!

jasmillo

· #18 · Dec 31, 2016

Trapper said:
I did exactly this.

My exact same truck is not in inventory anywhere in the US. To get one nearly the same, but lacking the options and the topper and bedliner, even given the end of year clearance rebates would cost $45K. Add the topper, and license and Im looking at $48K. And that would be for a lesser truck.

I told the Agent. If you believe you can buy a truck just like mine with 3500 miles on it, buy it. Ill give you the $41K and a $5K bonus!

I would use KBB as your guide for negotiations. The what's my car worth option w/ mileage. Talk w your agent about the topper and liner. That is an after market addition so depending on your policy you may or may not have had coverage. The personal items in your vehicle (yeti, etc.) were probably not covered on the auto policy but should be covered under the property claim you are unfortunately filing as well I assume.

RJCTJ

· #19 · Dec 31, 2016

Trapper said:
I did exactly this.

My exact same truck is not in inventory anywhere in the US. To get one nearly the same, but lacking the options and the topper and bedliner, even given the end of year clearance rebates would cost $45K. Add the topper, and license and Im looking at $48K. And that would be for a lesser truck.

I told the Agent. If you believe you can buy a truck just like mine with 3500 miles on it, buy it. Ill give you the $41K and a $5K bonus!

You are on the right path. Dig in and stand firm. Read your policy and the state insurance commisionor's laws. Tyipically you are entitled to be made whole. Insurance companies do not like having any claims on the books for an extended period of time. This is your leverage. Insurance companies count on you growing tired of dealing with it, make it your mission.

I have fought the battle with property value and insurance companies on highly modified vehicles both with my carrier and the at fault carrier in WA state. My mods were all documented and covered by my carrier which is key in the claim.

Steve Saville

· #20 · Dec 31, 2016

It's called "depreciation." The instant you drive a truck off the lot, new or used, the value goes down. It's a sad fact that auto dealers charge what they do but sadder yet how insurance companies are allowed to operate. And the insurance, liability at least, is required.
As said, interior contents aren't covered, usually. If you look at the original amount you paid, it goes down about 20% each year for five years and then you could sell it for whatever someone else will pay. It's happened to me numerous times over the years with kids' cars and one that was totaled. I have a 2006 F-150 with 97,000 on it and will drive it until it dies; then rebuild it axles out before I'll buy a new one. It might cost $10K but that beats the price of a new one.

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