Question about Progressive Insurance
I’m reaching out to see if anyone can help clarify a situation I’m facing. My daughter had an accident in front of our house on March 2nd. Progressive arranged to tow her car to an IAA auction yard for an appraisal on March 5th, and the appraiser assessed it on the 7th.
When I spoke with a Progressive representative on the 8th, she mentioned that the vehicle was labeled a total loss, which I hadn’t been informed of yet. She said the car was valued at around $8200 (I don’t remember the exact figure) — a bit lower than I expected, but I understand that these things happen.
Now, when I log into the app to check the claim status, it confirms the total loss status. However, I only see the appraiser’s repair estimate for $8289 and the deductible deduction. Is the $8289 the actual value Progressive is placing on the car, or is it just the repair estimate? Since we still owe money on the car, I’m trying to figure out our next steps. I’ve reached out to our adjuster but haven’t received a response yet. Any guidance would be greatly appreciated!
It sounds like you’re in a bit of a complex situation, and I can understand your concerns about the total loss of your vehicle and what that means for your finances. From what you’ve described, it seems that Progressive has deemed your car a total loss and provided an initial valuation of around $8200. The repair estimate of $8289 you see is generally what it would cost to fix the car, which confirms it’s financially not feasible for the insurance company to repair it.
Typically, when a vehicle is declared a total loss, the insurance company will offer you the actual cash value (ACV) of the car prior to the accident, minus your deductible. The amount the appraiser mentioned (the $8200) should be the ACV of your car, while the repair estimate is just for comparison purposes to demonstrate that the cost to repair exceeds its value.
Since you still owe on the car, it’s essential to clarify these details with your adjuster when they get back to you. They should provide you with the final total loss settlement offer and any potential gap coverage options if you owe more than the insurance payout. If you’re still waiting for a response from your adjuster, consider following up again or escalating the issue if you feel like it’s taking too long. Being proactive can sometimes expedite the process. I hope you get the answers you need soon!