Vehicle Total Loss - Tips for dealing with adjuster/arbitration?
Recently my vehicle was deemed a total loss by my insurance provider and I am now locked in a battle with the loss adjuster over the value of said vehicle. I am in BC but only my basic insurance is through ICBC, collision is through a private insurer and this claim is going through them.
When the vehicle was deemed a total loss (this took over a month) the adjuster gave their offer and provided me with a copy of the Autosource Market-Driven valuation report. Their valuation was low and I had some concerns with how the arrived at the value:
- Several of their comps were identical to my vehicle but the adjusted the price of these vehicles anyways
- They used an average of the comparable vehicle's adjusted prices to determine a base price for my vehicle (that's fine) but this price was further adjusted to reflect options that my vehicle didn't have even though this was already addressed by adjusting (lowering) the price of comparable vehicles that had more options than mine. They said that this is because most of the vehicles sold that year had this option and mine doesn't (half of the comparables didn't have it either)
I expressed my concerns to the adjuster and asked them to clarify. I was expecting them to review the appraisal and come back with a counteroffer but instead they sent the same appraisal report saying "this is the value".
Next I suggested that we use the comparable vehicles (that were in the original report) with the same options as mine to determine a fair value and avoid the concerns that I had with the way the values were being adjusted. This was met with a prompt reply that my only option to contest their value is arbitration.
Now, I have no problem taking this to arbitration and am confident I can get far more than they are offering even if I limit myself to the comparable vehicles that they used (which I won't) but I was wondering if anyone had some other tips that I can use to try to arrive at a fair valuation for the vehicle. I always thought that it was common practice to negotiate these kinds of settlements but based on this experience I was incorrect.
Also any tips for dealing with the arbitration process would be very much appreciated.
I have read through this thread but was hoping for some additional tips.