Subrogation versus other drivers insurance offer

by gebekede » Sat Dec 08, 2007 02:51 pm

My 1998 Mazda was hit from the rear and totalled. Due to circumstance, was unable to get the name of the other drivers insurance company at time of wreck. My insurance company USAA asked to subrogate the claim and made offer on totalled car. They are working a "final" offer now. But, 2 days ago found the other drivers insurance company is GEICO. GIECO is now appraising the vehicle. My desire is that I get the most in order to replace the vehicle (I was 0% at fault). GEICO says 2-3 days then they should have offer. I really want to get USAA to wait out for GEICO offer. What advise can you give me? The amount USAA offered is approx $3500. I can't find any equavalent on internet sites without 30,000 - 75,000 more miles than mine had, and then prices are in the $4000 plus range.

Total Comments: 13

Posted: Sun Dec 09, 2007 12:25 pm Post Subject:

Good morning gebekede, and welcome...

I really want to get USAA to wait out for GEICO offer

This shouldn't be a big deal especially a couple of days...

What advise can you give me?

All insurance companies use a set way to determine value, frankly I think you are using good sense in wanting to see which one comes up with a higher value. I'd just tell my carrier I want to think about it a couple of days....If you chose to let Gieco handle it, then fine, just tell your carrier that they are paying the claim.. If you still want to use your carrier you need to tell them that Gieco has contacted you etc, and made an offer and you do not want to accept it because it is too low.

The amount USAA offered is approx $3500. I can't find any equavalent on internet sites without 30,000 - 75,000 more miles than mine had, and then prices are in the $4000 plus range

Make sure all the information is correct on their evaluation first...if you want to give me yr/make/model/options/mileage, and any unrepaired prior damage. I'll check it for you with NADA (system company I work with uses), and see if it looks close...not that it matters really but might make you feel better (or worse) if another unbiased adjuster comes up with same.


What does this mean?

They are working a "final" offer now


Did you not accept the ACV (actual cash value) or was there a mistake?

You won't be out your deductible if Gieco pays, at all...Even though you will be reimbursed if you go thru your carrier eventually....some carriers will front it immediately.....Do you know 'which' systems each carrier uses to determine the ACV?

Posted: Mon Dec 10, 2007 07:30 am Post Subject:

Hi gebekede, welcome to ampminsure forums.

I guess, it won't harm to wait for couple of more days, especially, when there is the possibility that GEICO may offer you more. Along with, I strongly suggest that you take the help Lori is willing to offer you here. It sometimes pays off to get a third party evaluation on a matter like this. I bet, she'll be able to throw some light upon the value of the vehicle. It'll help you to decide your way or even may help you to contest the offered price, if required.

Meanwhile, keep us updated with the developments.

Regards,
Juanita

Posted: Mon Dec 10, 2007 09:22 am Post Subject:

You won't be out your deductible if Gieco pays, at all...Even though you will be reimbursed if you go thru your carrier eventually.



Yea, Lori is right, and subrogation will also save the running around on your part. Your carrier will compensate you for the loss and will go after the other party's insurer later on to recover the amount paid towards the claim. In this process they will also recover the deductibles you have paid earlier. But definitely you will go for the best deal available even if it takes some time.

Inform your insurer that you are yet not ready to accept their offer. I'm sure that couple of days delay won't make a hell lot of difference for them as well.

Posted: Mon Dec 10, 2007 09:21 pm Post Subject:

OP.. yes, ys, yes!!!! You nailed it! Wait to hear both carriers offers and then choose the highest one! If you go with USAA (I think they still use CCC) then ask the GEICO adjuster if they would not mind forwarding your deductable to you up front while they wait on USAA's subro. Many times they will do this.

Posted: Thu Feb 07, 2008 06:20 am Post Subject: you all are morons

neither ins co will give you the value of your car

you are screwed

Posted: Thu Feb 07, 2008 10:48 am Post Subject:

Now dfsgdfs, that was uncalled for....explain your opinion based on FACT if you'd like, but this really adds nothing and helped no one....nor do you know this to be true at all.

neither ins co will give you the value of your car
you are screwed

Posted: Thu Feb 07, 2008 06:04 pm Post Subject:

Since the person did not register and since the thread was very old, I just saw it as trolling. Ignore trolls and they loose interest.

Posted: Fri Feb 08, 2008 01:34 am Post Subject:

I just saw it as trolling. Ignore trolls and they loose interest.



Ok, explain to the old broad what is a ''troll'' and what does a troll do? (no I'm not kidding..i have NO idea what you are talking about)... :?

Posted: Fri Feb 08, 2008 01:36 am Post Subject:

http://en.wikipedia.org/wiki/Internet_troll

Posted: Fri Feb 08, 2008 12:27 pm Post Subject:

Thanks a bunch!

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