Greg,
Keep in mind it is your Agent (insurance sales person) who wants your continued business. Your assigned Adjuster is representing the insurance company’s interests but (supposedly) has to operate within the law of your state. Dan is correct;
“If an independent insurance adjuster looked at your car, they sometimes have an incentive ($$$) to get you to accept less money than what you deserve.” Some of these can blatantly cheat the policy holder and the insurance company tries to keep “plausible deniability.”
As said above, insurance companies are in business to make a profit and as much as possible. Too often that is at an unknowing policy holder’s expense.
Be very polite but firm. Write everything down. Don’t make it a contest from the get-go but be prepared to have your ducks in a row as if you were to have to go to court. If the subject of lawyers and court comes up, put the insurance company on notice that they will be expected to pay your attorney fees and costs.
Your best argument is to find comparables; as many as you can. The data from PCA, Bruce Anderson in Excellence, PML and your own research is very valuable. You want documentation to be able to say; “Here is my car and here is what other similar cars sold for.” This should be nationwide as our cars are bought and sold trans-continent and internationally.
Insurance companies subscribe to services that clip newspapers, Auto Trader, etc. They try and convince you that these are the standards for “comparable.” Not so. Your recourse is to use Panorama and collectors resources.
Find some live experts; preferably people in the business. The used car sales manager from dealers are good. Interview them first and get their opinion in writing. A little hint that you will be looking for another 911 never hurts.
If the insurance company sends you a check, photocopy the check and send back. They are trying to appeal to your natural instincts of money in your pocket; “Bird in the hand ….” so to speak. In some states that is an illegal ploy.
There is a legal term (Good Faith) that refers to how insurance companies must treat their customers. Many states require treble damages if the insurance company violates the law and act in “Bad Faith.” Your State Insurance Commission should have this stuff online.
Read your policy.
When Karen totaled her Land Cruiser (original owner, original paint, lots of miles), the insurance company (State Farm) tried to low-ball her figuring she was an easy target. They offered $900 for a $6K car. That got my dander up. I found comparable (collector’s) cars for $15-25K, documented Like Kind and Quality and every thing else. We demanded $11,800 and settled on $9800 with us keeping the salvage. Had they not tried to cheat her, they could have saved $4K.
Don’t let them wear you down. You too can play that game but at every discussion demand payment now. You are being injured by their bad Faith delay. This is a settlement negotiation where they want to pay you as little as possible as late as possible. You need to be your own best advocate.
Don’t be afraid to piss them off in the end. They will probably wait the required time and not renew your policy anyway. Be prepared. If they were to try and cancel your policy, contact an attorney.
Best,
Grady
I am not an attorney and this is not legal advice.
I did stay in a Holliday Inn Express a few years ago.
G.