2024 Tesla Model Y Totaled – Unhappy with Tesla Insurance Offer
Hello everyone,
Our 2024 Tesla Model Y LR has been declared totaled by Tesla Insurance, and we’re not satisfied with their valuation of $39,451. We purchased the car in mid-August 2024 and had only accumulated 1,316 miles before a crash occurred on December 3, 2024. Although we were at fault (with no other parties involved), we filed a claim with Tesla Insurance, who is handling our auto insurance.
We’re located in Fairfax, VA, but the valuation report references a comparable Tesla in Apopka, FL, which is nearly 1,000 miles away! For context, the Apopka vehicle had a list price of $40,900 and 3,904 miles on it.
Moreover, the report categorizes our vehicle’s condition as Good/Well Maintained in several areas. We’re unsure of the criteria used by Audatex (the third-party company that provided the valuation), but we maintain that our car was impeccably cared for, and its condition should be rated as ‘Excellent.’
We’re seeking advice on how to contest this valuation.
Thank you!
Valuation Report Summary:
Vehicle Condition:
– Seats: Good
– Carpets: Good
– Interior Trim: Good
– Glass: Good
– Headliner: Good
– Body: Good
– Paint: Good
– Exterior Trim: Good
– Engine: Well Maintained
– Transmission: Well Maintained
– Front Tires: Good
– Rear Tires: Good
Valuation Details:
– Comparable Vehicle (Apopka, FL): $38,501
– Odometer Adjustment: $270
– Tow Hitch Package: $680
– Total Valuation: $39,451
Notable Adjustments:
– An odometer adjustment of $0.1050 per mile/kilometer has been applied, based on the vehicle’s year, category, and market. Odometer adjustments are capped at 40% of the vehicle’s original value.
– Average mileage for this 2024 Tesla Model Y in Virginia is reported at 20,999 miles.
– No special adjustments were factored for our vehicle.
– All values are in U.S. dollars.
I’m really sorry to hear about your situation with the totaled Tesla Model Y. It sounds frustrating, especially given how new the car is and the difference in valuation. Here are some steps you can take to advocate for a higher payout from Tesla Insurance:
Any additional evidence such as photos of the vehicle, comparing its condition to the “Good” rating the insurance company assigned.
Research Comparable Vehicles: Look for similar Tesla Model Y vehicles in your local market (Fairfax, VA) that have sold recently. This will give you a better idea of the current market value. Online platforms like Kelley Blue Book, Edmunds, or Autotrader can help with this.
Challenge the Valuation Methodology: Reach out to Tesla Insurance to express your concerns about the use of a vehicle in Apopka, FL, for comparison. Explain that local market conditions are likely very different. Include your researched data on local sales of similar vehicles.
Ask for Clarification on Condition Ratings: Clearly communicate that your vehicle was in “excellent” condition and ask for a review of the condition scores provided by Audatex. Providing photos and maintenance records can strengthen your case.
File an Appeal: If you’re not satisfied with their response, formally file an appeal. Be clear, concise, and provide all your supporting documentation with the appeal.
Seek Third-Party Valuation: If the situation does not improve, consider hiring a professional appraiser who specializes in vehicles. An independent assessment may provide leverage in your negotiations.
Consult with an Attorney or Consumer Advocate: If all else fails, you might want to consult with a legal expert in insurance claims. They can provide guidance on your options and help escalate the matter if necessary.
Keep Records of All Communication: Document every interaction you have with Tesla Insurance, including dates, times, and what was discussed. This can be useful down the line if you need to escalate the issue.
Consider Posting on Social Media: Sometimes, sharing your experience on platforms like Twitter or Facebook can get the attention of the company and prompt a quicker resolution.
I hope this helps, and I wish you the best of luck in getting a fair valuation for your car!