Need advice on how to proceed with insurance claim from auto accident

[burningbright]

While down in Nashville for a friend's wedding the weekend prior to Thanksgiving, a guy ran a stop sign at an intersection I happened to be going through and totaled my car.

They accepted fault for the accident and State Farm (his carrier) came back with a low-ball offer for my car's value.

The car was a 2005 Mazda3 with 38,000 miles on it and was going to be paid off in two months.

I'm trying to get $11,500 for it because that's the price I've seen similar ones going for on websites like Auto Trader. They're offering me the NADA value (which I understand is lower than market values) plus all the other fees for a grand total of $10,100 and change.

So how do I get my extra $1500+? The State Farm guy is telling me that if I can find other Mazda3's similar to the price I'm asking for in a 100 mile radius then I have to send him the following information for each car:

1. VIN #
2. Dealership
3. Sales person
4. Final negotiated price

The last one concerns me because as a buyer I don't have a legal obligation to negotiate a price, I can pay sticker value, right? As the injured party here that seems like that should be an inconvenience I shouldn't have to be put through and should therefore be allowed to go with the sticker price. And why do I have to look within 100 miles? Why not nation-wide?

Thus far, there are only two cars on Auto Trader within 100 miles that have similar years and specs to mine (manual transmission):

2006 Mazda3 with 77K miles for $10,700
2005 Mazda3 with 81K miles for $9500

Both of these vehicles have twice the amount of miles on them than my car. So how do you put a price on mileage if mine only as 38K miles?

Obviously I'm not in insurance and I've never had this happen to me before so I'm not sure what steps I need to take. Can anybody who has prior experience or is the auto insurance industry provide some guidance here so I don't get screwed?

Thanks!

 

[JayJay]

Your own insurance agent may have advice on how to proceed.

 

[HomerJ]

Which Mazda 3 is it, SP23, i, or s?

 

[Harold falcon]

This is actually decent advice.

http://insurance.freeadvice.com/info...uto/article/60

What state are you in?

 

[Raoul Duke]

Originally Posted by harvey_birdman

This is actually decent advice.

http://insurance.freeadvice.com/info...uto/article/60

What state are you in?

He appears to be in Canada.

 

[Harold falcon]

Originally Posted by Raoul Duke

He appears to be in Canada.

!!!!!!!

 

[burningbright]

Originally Posted by HomerJ

Which Mazda 3 is it, SP23, i, or s?

It's just a stripped down i version, no frills. It was just supposed to be an "around town" car for running errands and whatnot, hence the low miles. The only reason it went on a road trip is because our other car was in the shop at the time.

Originally Posted by harvey_birdman

This is actually decent advice.

http://insurance.freeadvice.com/info...uto/article/60

What state are you in?

IL

Originally Posted by Raoul Duke

He appears to be in Canada.

Chicago is the Miami of Canada...at least according to Montgomery Burns.

 

[HomerJ]

Originally Posted by burningbright

I'm trying to get $11,500 for it because that's the price I've seen similar ones going for on websites like Auto Trader. They're offering me the NADA value (which I understand is lower than market values) plus all the other fees for a grand total of $10,100 and change.
In my experience NADA and Kelly Blue Book are high. That's why there's so many ads yelling $3000 below blue book!!! Listed prices on Auto Trader are silly high. Case in point, I'm buying a 2011 this week for less than Auto Trader's 2009 vehicles. Check out Edmunds True Market Value or similar. Your car is $9500 dealer retail in my area accounting for the low mileage. With compensation of the other fees, $10,100 sounds about right.

Both of these vehicles have twice the amount of miles on them than my car. So how do you put a price on mileage if mine only as 38K miles?

Most of the pricing guides account for mileage somewhere. FYI I had a low mileage vehicle totaled last month and insurance valued 1 mile at 1.5 cents. They also adjusted the list price of similar vehicles in my area to either real or predicted final sale price. Sucks that you're inconvenienced this way..

Originally Posted by burningbright

It's just a stripped down i version, no frills.
Probably worth talking to your insurance agent, could end up in arbitration, but I think you're getting market value. My 2 cents. Anyway, doesn't hurt to argue your case and negotiate. Good luck.