Update on my total loss

JS760 · Jun 16, 2022

6mtTRD said: ↑

I’m an auto damage adjuster for a major company and work CA claims. Insurance claims work like this in CA regardless of the carrier:

If you total your car, whether you were driving it home the first day or driving it to the crusher after 20 years, the payout consists of the ACV which is the actual cash value. This is computed by taking sales data in your area of similar vehicles currently for sale or sold within the last 90 days and then adjusting it for options, mileage and condition. Since the sales data is from dealers almost exclusively the prices are slightly higher. After that, the sales tax for your county/city is added based on the ACV. Next, the unused portion of your registration fees are added. Finally, your deductible is subtracted.

ACV+TAX+REGISTRATION-DEDUCTIBLE = Total settlement amount.

There are obviously intricacies if an individual wants to retain the vehicle or is able to show data that could change the ACV but that is rare.

No insurance company is going to pay you what you paid for the vehicle directly. That being said, if the market for a certain vehicle is crazy (Tacomas for example) then I can absolutely see a higher dollar amount settlement than what someone may have paid for a vehicle. And I’ve in fact dealt with such claims.
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No, that’s how your carrier works. Not all of them.

JS760 · Jun 16, 2022

6mtTRD said: ↑

Are you able to get the estimate from your adjuster or shop? They had to have written one to compare it against the vehicle value. Either that or they just deemed it an obvious total.. which I doubt. Would be nice to see how much it was inflated to write the truck off and not have to deal with a shitty shop on supplement after supplement.
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Right. It has to need a frame to get that high, and even if it did, I don’t think I could get there. They likely wrote the Piss out of it to kill it on purpose.
Either because getting parts is a nightmare right now, or because everyone runs away as fast as they can when a Tacoma comes in their shop.

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