Attorney Tip on How To Get Higher Payout for the Total Loss of Your Vehicle

This is Kentucky Injury Attorney Tate Meagher with Meagher Injury Lawyers. So, you want to know a tip on how to get a higher payout for the total loss of your vehicle after an automobile accident.

Filing Your Claim

First, the tip I’m about to provide can possibly work whether you’re pursuing a claim against the other driver’s insurer or if you’re filing a claim with your own automobile insurance for the total loss of your vehicle. Keep in mind, it’s been my experience that it is sometimes easier to file the claim for your vehicle with your own auto insurance. Also, if you’re not at fault for the accident, your insurer can seek reimbursement on your behalf from the other driver’s insurer.

Getting the Fair Market Value

After you have filed your claim, at some point the insurer will make an offer to you for the total loss of your vehicle. Your focus should be to get the fair market value of your vehicle. I suggest first letting the insurer make an offer to you. After the offer is made, you can then try to negotiate a higher offer from the insurer.

Making a Counteroffer

In my experience, the easiest way to negotiate a higher offer for your vehicle is by making a counteroffer backed up by data. Here’s how you can do it:

1. Visit Cars.com: Go to a website like cars.com where you can search for automobiles like your vehicle that are being sold in your local area.
2. Perform a Search: Look for the same year, make, and model as your vehicle. Find a vehicle that has similar mileage to your vehicle as well.
3. Print or Convert to PDF: Once you have found a comparable vehicle for sale, print that webpage or convert it to a PDF.
4. Send to Claim Handler: Send the PDF to the claim handler for the insurance company, along with a counteroffer for a higher amount than what the insurance company initially offered you.

Negotiating a Higher Settlement

After some negotiation, you may be able to settle the claim for the total loss of your vehicle for a higher amount than initially offered. This method leverages comparable vehicle data to strengthen your negotiation position.

Conclusion

I hope this tip will be helpful. Remember, if you have been injured in an automobile accident in Kentucky, don’t wait—call Tate. Also, feel free to subscribe to my YouTube channel and watch more of my videos. Thanks for reading!