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Insurance question

Discussion in '2nd Gen. Tacomas (2005-2015)' started by roblass, Feb 17, 2014.

  1. Feb 17, 2014 at 11:38 AM
    #1
    roblass

    roblass [OP] Well-Known Member

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    I didn't know where to post this so here it is. I have a 2005 TRD sport crew cab short wheel base truck with 347056 miles on it currently. I was recently hit in the rear causing about $8,100 in damages. my insurance company says the damages have to be 75% the value of the truck before they total it. when I looked up the value on Kelly blue book it listed for 12,000.00 but they are telling me the 8100 is 59% percent of the value....where is the insurance company getting their numbers from? :confused: any input would be great

    Thanks
     
  2. Feb 17, 2014 at 11:41 AM
    #2
    scottalot

    scottalot Meow

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    I cannot answer your question.. But 8100.00 is a crap ton of money to put into a truck with that many miles.. I'd haggle for a little more if possible and take the check if there's no loan on the truck.. Put that towards one with 1/10th the miles..
     
  3. Feb 17, 2014 at 11:41 AM
    #3
    PkTaco

    PkTaco Well-Known Member

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    Sounds like you looked at private party and they looked at retail.
     
  4. Feb 17, 2014 at 11:53 AM
    #4
    moondeath

    moondeath The answer to divorce...... Tequila!

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    $12,000 with 347,056 miles?
     
  5. Feb 17, 2014 at 11:53 AM
    #5
    jw1983

    jw1983 Well-Known Member

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    Since that we aren't sure what Insurance company you're with, it's hard for us to give you a real definite answer. When it comes to any insurance questions, there is a lot of variables. The only thing that I can suggest is phone around other insurance companies in your state, city and inquire.

    In the end as usual. The Insurance Company is going to want to max it's profits without paying out very much to you. So I am sure that number percentage is there for a reason. So if it's cheaper for them to fix your vehicle then it is for them to give you the value of it then that's what they are going to do. Yeah! They say "insurance is here to help you when you need it." Well it's only there to help you when it helps them. You know insurance is there "incase shit happens. Well if shit don't happen, shouldn't I get my money back?"
     
  6. Feb 17, 2014 at 12:03 PM
    #6
    KenLyns

    KenLyns 8.75" Third Member

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    With the info roblass provided, KBB private party sale in Knoxville, TN in "good" condition is $11,834:
    http://www.kbb.com/toyota/tacoma-do...-party&condition=good&persistedcondition=good

    @roblass: You will have to work this from both ends:
    1. Get at least three repair quotes in writing from dealer collision shops in attempt to raise the repair cost above $8100.
    2. If $8100 is 59% of the trucks value, the insurance co. is valuing the truck at $13700. Ask the adjuster where they got the $13700 figure.
     
    Last edited: Feb 17, 2014
  7. Feb 17, 2014 at 12:06 PM
    #7
    savedone

    savedone Well-Known Member

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    I am assuming you have a rear wheel drive. Perhaps they are looking at the price of a 4x4. In this area the 4x4 with that mileage worth 15,875 clean retail. Why don't you want the truck fixed?
     
  8. Feb 17, 2014 at 12:11 PM
    #8
    357sig

    357sig Donut king

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    Why are you talking to your insurance and not the other parties insurance? Plus insurance companies are more likely to total a vehicle if there is frame damage, flooded, burnt, or just completely smashed from bumper to bumper. A little 8 grand of work is not really that big of a deal
     
  9. Feb 17, 2014 at 12:15 PM
    #9
    jw1983

    jw1983 Well-Known Member

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    I think that some of it is because the truck is 9 years old and has a lot of miles on it.
     
  10. Feb 17, 2014 at 12:16 PM
    #10
    roblass

    roblass [OP] Well-Known Member

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    yes it is rear wheel drive

    its not that I don't want it fixed, I love the truck!! still running strong with all the miles on it. im just confused by the insurance company and where they are getting the value from
     
  11. Feb 17, 2014 at 12:17 PM
    #11
    roblass

    roblass [OP] Well-Known Member

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    there is frame damage, they are straightening that out
     
  12. Feb 17, 2014 at 12:27 PM
    #12
    savedone

    savedone Well-Known Member

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    The only thing I can come up with is they are using the price for a 4x4.
     

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