My horse trailer was rear-ended while I was towing it (thankfully, there were no horses inside). A guy in a pickup hit me from behind and caused some significant damage—bent the structural metal pillars of the trailer.
He’s insured with Geico, and they’re arranging for an inspection.
I’m anticipating a lowball offer in case they decide to write it off. Are there steps I can take to ensure I get a fairer value for its replacement? Would getting a private appraisal help?
I’m sorry to hear about your accident! Here are some steps you can take to help ensure you receive a fair settlement for your horse trailer:
Document the Damage: Take clear photos of the damage from multiple angles. Include close-ups of any bent or damaged structural parts.
Gather Evidence: Collect any relevant documentation, like the original purchase receipt, maintenance records, and any modifications made to the trailer. This can help establish its value.
Get an Independent Appraisal: Consider hiring a qualified appraiser who specializes in trailers. They can provide a professional assessment of the value of your trailer before the accident.
Research Comparable Sales: Look online for similar trailers for sale in your area. This can give you a good idea of what a replacement would cost.
Keep Track of Rental Expenses: If you need to rent a trailer while yours is being repaired or replaced, keep receipts and records to demonstrate any additional expenses incurred.
Be Prepared to Negotiate: Understand that insurance companies often start with low offers. Present your documentation, artwork from the appraiser, and data from your research to justify your counter-offers.
Consult an Attorney (if necessary): If negotiations stall or if the insurance company is unresponsive, you might consider speaking with an attorney who specializes in insurance claims or personal injury to guide you through the process.
Being well-prepared with documentation and evidence will significantly strengthen your position during negotiations. Good luck!