We own a 22-year-old high-top custom van that was recently rear-ended twice by a woman at a slightly higher speed. The damage includes a ruined rear bumper and dented rear doors, but thankfully, all the lights are functional and there’s no broken glass.
Now, the insurance company wants to declare the van a total loss and has offered us about $3,000. However, our van is in excellent condition, very well maintained, and regularly goes through thorough checks. We focus on preventive maintenance rather than waiting for things to break down. GEICO insists that we must surrender the title before they issue any payment, but we’re not willing to part with either the van or the title, which has put us at an impasse.
We’ve had this van since it was brand new and have cherished every moment with it. We believe it’s worth much more than their lowball offer. Has anyone experienced something similar? What steps can we take to resolve this situation? Your advice would be greatly appreciated. Thank you!
It’s definitely a tough situation when you’ve invested so much into your vehicle and have emotional ties as well. Here are some steps you can consider to navigate the impasse with GEICO:
Document Everything: Gather all maintenance records, photographs of the van (including its condition before the accident), and any other documentation that showcases the value and upkeep of your van.
Obtain a Professional Appraisal: Consider getting an independent appraisal from a qualified mechanic or a classic car appraiser. They can provide an assessment of the van’s true market value, which may be significantly higher than what GEICO is offering.
Negotiate with the Insurance Adjuster: Reach out to GEICO’s claims adjuster and present your findings. Use the documentation and appraisal to argue for a higher payout. It’s important to stay calm and professional during these discussions.
Understand Your Rights: Familiarize yourself with the laws in your state concerning total loss claims. Many states require insurance companies to provide a fair value for totaled vehicles, and you may have rights that protect you in this situation.
Consider Repairing the Van: If you’re not willing to total the van, explore repair options. Get quotes from reputable auto body shops to see if repairs fall within a reasonable budget. Sometimes, demonstrating a viable repair plan can sway the insurer.
File a Complaint: If negotiations stall, you can file a complaint with your state’s insurance commissioner. This may encourage the insurance company to re-evaluate your claim.
Consult an Attorney: If the situation doesn’t resolve, it may be beneficial to seek legal advice. An attorney experienced in insurance claims may help you navigate the complexities of the situation and advise you on your next steps.
Remember, you’re not alone in this—many others have faced similar issues with insurance companies. Stay persistent, and best of luck in resolving the situation!