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Last Post 06/13/2007 10:16 PM by  KBurks
FLA Auto ACV
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KBurks
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06/12/2007 9:14 AM

    I am a property adjuster and  not familiar with Florida auto policy law. My son has had an accident that totaled his car. He was not at fault. The ACV according to NADA and Kelly BB is $17,500.00 clean retail. The vehicle was in excellent condition. His carriers adjuster has stated he will pay no more than $14,400.00 trade in value. He is also refusing to pay sales tax until we replace the vehicle. He stated that Fl statues allow him to hold back sales tax if it is over $800.00. He has threatened to deduct the vehicle storage fees after June 13th if we don't release the vehicle to him. His attitude is take the money or go to appraisal and loose more of your settlement . The adjuster has never seen the vehicle he sent an appraiser to inspect the damage. I called the appraiser and he agrees that the vehicle was clean and in excellent condition. When we asked the adjuster for his FL license number he hesitated for about 30 seconds and refused to give it. At what point does this become bad faith or unfair trade practices ? I checked with the Department of Finance and he is not listed. Any advice regarding this matter would be appreciated ?

    KB

     

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    vallerih
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    06/12/2007 10:31 AM
    Ken, acv is not solely determined by a book value. What you should be looking at is what it would cost to replace the vehicle with one of similar quality as far as condition, equipment and mileage. It will be up to you to document this and a couple of ways to do that is search the newspapers for similar ones for sale and contacting local dealers for quotes making sure you get the name of the salesman you talked to. A trade in value is not a measurement of damages. Ask for a copy of the appraiser's report as it should include values apart from the book value. Many insurers use a service called CCC which locates similar vehicles for sale in your area. The issue with the tax is allowable, they can hold back payment until another vehicle is purchased and the sales tax is incurred. I would allow them to move the vehicle to mitigate storage charges. The vehicle will be held in a salvage facility until the claim is concluded and they have the title. In order for you to present a case to an appraiser or to the DOI, you are going to have to document your side. You may wish to communicate with the adjusters supervisor for his/her suggestions as to what your options are. Hope this offers some help and good luck.
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    Tom Toll
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    06/12/2007 10:49 AM

    Ken, Vallerie is absolutely correct. Scan the papers and auto trader to try and make some determination of ACV. Sounds like your adjuster has a control problem, or a Mr. Macho problem. I would contact his supervisor and pass on the statements he has made. If he would not show you his Fl. license and is not registered in Fl. DOI, something is amiss. If he is staff, however, I am not sure what the licensing requirement is for them. Anyway, you have rights as an insured. Do not let the company or their rep roll over you. Get on the phone and start asserting yourself. If necessary, file a complaint with the Fl. Insurance Dept.

    Success is not final, failure is not fatal: it is the courage to continue that counts.
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    JimGary
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    06/13/2007 6:48 AM
    Typically, like here in Texas, the appraiser does not need to be liscenced. Also be carefull arguing "book value". KB and NADA are a good guide but bot real accurate when setting true value. I personally have never paid "book value" for a vehicle. Even dealerships sell vehicles for far below book. HAving worked a total loss unit before, I understand your frustration, but realize that the adjuster probably has little to do with setting value. The only read a report sent by a third party vendor and is probably tied to within $500 of that report. Talk to the supervisor but don't go off the handle or you'll just be another angry claimant that they have to put off.

    JWG
    I know the voices aren't real, but sometimes they're right!
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    K ung Fu tzu
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    Posts:76


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    06/13/2007 5:14 PM
    Ken,
    I've handled auto and property for over 20 years.

    Call the adjuster and ask him to fax or email his market report for the car that determined the vehicle ACV. That's your first starting point. Look it over carefully and see if you can find an error with the options, mileage, etc. Also check to see the territory that was selected in researching a comparative vehicle.
    Ask him to give you 48 hours to look into the matter before charging you storage. If he won't budge, pay the storage yourself. If you're right, you'll get it back later.
    If there is an error in his calculations, he'll need to make an adjustment manually. If it's a big difference, like the wrong model car, he'll need to resubmit and request a new report for ADP or CCC. If you need help reading the report, send me an email here and I'll help you review it. Look for odd errors; example: If you had an LS and the report say's GS, etc. Sometimes the VIN #'s are off a digit and it picks up the wrong car.
    Scan it closely. If he balks at giving you a copy of the report, don't even hesitate, file a DOI complaint.
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    Jud G.
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    Posts:509


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    06/13/2007 8:23 PM

    Wow, you've gotten really good advice from all of the above posts. 

    The insurer does get a market report, but this report likely does not secure vehicle List Prices, but what they actually sold for.  Unfortunately, you are going to have to hustle a bit to get a good price for your vehicle and the price they gave you is, again, after the sale price has been negotiated. 

    I once handled total loss claims as a third of my workload.  There is not much room for negotiation on these types of claims and the in-house adjusters know it.  The ones I dreaded most were those that were upside down on their loan and expected the insurer to pay for it.  God willing, I'll never go back!  Chances are good that this poor adjuster feels the same way.  I willing to bet that this adjuster dreads having to deduct the salvage from your settlement as he is under tremendous pressure to close these claims.  Between you and his boss, he probably has no choice.

    I won't excuse poor customer service, but these claims are tough and try not to take a price disagreement personally.  They've got to deal with a caseload of at least a hundred cases like yours.  I'd rather take another 400 Katrina property claims than take 50 total loss auto claims. 

    You mentioned that the carrier does insure your son, but if they are actually the third party carrier, then you won't have a case for bad faith due to the lack of contractual obligation.  As for licensing, he may not need one since he's working for a licensed carrier.  This was the case when I worked on staff for a carrier's branch that serviced three states- two of them required a license, but I was exempt.

    Good Luck.

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    wscook
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    06/13/2007 9:16 PM

    Perhaps your son may be a candidate for mediation under the Florida Statutes.

    William S Cook

    Public Adjuster

    William S Cook Public Adjuster/Umpire/Appraiser
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    KBurks
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    06/13/2007 10:16 PM
    We thank you all for the great advice.
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