Tips/Experience/Etc dealing with insurance and totaled values?

DetroitStyle

DetroitStyle

Club Member
I had some dumb broad decided to divebomb across 2 lanes because she didn’t want to miss her turnaround on Telegraph (because there aren’t turnarounds every 1/4 mile) and smash into my truck. Spun me sideways and up and over the curb and through a sign.

I’m guessing the truck is likely a total.

I have a couple of questions.

My main concern is that my insurance is going to try to lowball me because the truck is a 2001 with 190k on it. However, first gen Tacomas hold their value extremely well. It’s a rust free, double cab, 4x4 with the TRD off-road package. They continue to sell for anywhere from $9k-$13k regardless of mileage. Anything under 150k miles goes even higher than that.

Has anybody here dealt with insurance in this regard?

Second... I’m considering “buying it back” because I literally have $3k worth of mods purchased and ready to install. Anybody know typically how they value the buyback price?

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I have damage to:
-Both passenger side doors, passenger side cab and door sills, passenger side bed and fender flare
-Driver’s side bed, flare, fenderwell and gas cap
-Radio stopped working
-front steering now clunks hard during low speed turns, steering is cockeyed 15-20% to drive straight (tie rod/control arms?)
-rear driver’s side tire is slowly going flat, damage to wheel




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Also, I ended up in urgent care with a concussion (head hit the window), neck and upper back pain, and have significant bruising on my upper left leg and knee. I am assuming I can go after her insurance for anything related to that? ie deductibles and...?


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Clean it well before they look at it inside and out, give copy’s of receipts of any new parts, and when they give you a list of comparable vehicles don’t agree to settle till you go inspect them and compare them to yours and make sure there the same, if there not take a lot of pics and send them to them to get what you deserve for your truck.
 
you're still dealing with the affects of the concussion ...Don't even think about trying to save it ... let some shop in Dearborn buy it at auction ...

my guess the frame is tweaked good ...

hold hard against your adjuster ..they will try to low ball you ... tell them to fix it ... and watch how fast the price goes up
 
Has the frame been replaced under recall due to rust issues? Being an '01 not sure how likely it will be that you get Toyota parts for repair. I think Toyota only goes back 15 years for service parts.
 
The frame has not been replaced... but it is in very very good condition. Best I’ve seen on an original frame. It’s part of why I bought it.

The adjuster just left my house. He estimated the damage at $7500. He said it is likely totaled, as this puts it at 85% of the value. So they are valuing it around $9000. I suppose that’s a good starting point.




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Sorry to hear Mike. What did they say about the frame?

Buy backs are normally pretty cheap.....for a reason.
 
My co-worker had the frame replaced on his Taco under the recall. The dealer doing the work gave him the option to upgrade his suspension so he bought new aftermarket suspension components and had them installed. The had his truck for about 60 days, he had a new Ram 1500 4x4 Hemi as a loaner the entire time.

The cost to replace the frame was well over the value of his Taco and that doesn't include the rental he was given for free.
 
I just got off the phone with insurance. It’s totaled.

After a bit of back and forth... they are at $9200 if I surrender the truck, $7000 if I keep it.

I will sleep on it and decide in the morning.




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Sit on it. You don't have to accept immediately. The longer you wait the more they give you. They don't want it on the books. Depending on the insurance company it negatively affects the adjuster's bonus to have it on the books.

Tell them you'll take $8500 and you keep it if they push hard.
 
Time for Bondo and truck bed coating! Take the money and run. Sorry Mike, I know you sought that thing out.
 
wrath said:
Sit on it. You don't have to accept immediately. The longer you wait the more they give you. They don't want it on the books. Depending on the insurance company it negatively affects the adjuster's bonus to have it on the books.

Tell them you'll take $8500 and you keep it if they push hard.
Click to expand...

lol you couldnt be any more wrong. this isnt how adjusters operate at all.

detroitstyle PM me or give me a call at my office tomorrow - 616-784-7200 and i'd be happy to help guide you through it
 
As far as medical goes, you arent going to get anything out of her insurance (except the $1000 mini-tort)unless you have a long term/permenant debilitating injury.
 
oh, and salvage is determined by whoever the insurance company gets salvage bids from. Most insurance companies are just using Copart or IAA these days for bids, whatever they bid will be the buyback cost...usually.
 
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