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Written by: J. Todd Tenge

5 Tips to Negotiate a Better Settlement on Your Car’s Value

| Read Time: 3 minutes

Negotiating a car accident injury claim with the liable party’s insurance company can become frustrating quickly.

Some people do not realize they may have the right to negotiate their property damage.

Negotiating with the insurance company is especially important in a total loss car accident settlement.

It doesn’t matter if you present a collision claim under your own insurance or a third-party property damage claim with the other driver’s insurance.

You should be negotiating your property damage and taking the proper steps to maximize your potential settlement.  

If you are wondering how to fight an insurance company for a totaled car, here are five helpful tips for negotiating a better settlement.

1. Gather All Evidence and Documentation  

When researching how to get more money from insurance for a totaled car, you’ll find that your potential settlement amount is closely tied to how much evidence you have.

If possible, present all the purchase paperwork that shows what you paid for the vehicle.

You should also have maintenance and service records that corroborate your vehicle’s condition prior to the accident.

2. Prepare a Thorough Counteroffer

The insurance company will try to pay out as little as possible in a claim, including a total loss accident settlement.

Don’t wait until the insurance company makes you an offer; start preparing a counteroffer right away.

It’s safe to assume that insurance is not paying enough for a totaled car. You need to present support and determine what a reasonable counteroffer would be.

3. Look for Comparable Values in Your Area

how to negotiate with insurance adjusters about total car loss

Visit some used car websites that have vehicles for sale similar to yours, such as J.D. Power.

It would be best if you were trying to find vehicles with similar mileage and features.

Mileage can be very important, especially on certain types of cars, so be sure to include this factor in your research.

Two similar cars with markedly different mileage amounts could sell for significantly different amounts.

Part of strategic total loss settlement negotiation is showing the insurance company what other comparable vehicles are selling near you.

4. Get the Insurance Company’s Offer in Writing

You have the right to ask the insurance company to provide documentation showing how they reached the value they did.

You can ask them to email you the offer in writing and documentation such as their valuation report or the Certified Collateral Corporation (CCC) report.

Verify that the information used matches your vehicle. It’s not uncommon for something to be missing or incorrect.

You can also ask for a breakdown of other additional items, such as sales tax, the payoff lien amount to be paid directly to the lender, and any net settlement you will receive.

5. Make Your Counteroffer

Now that you have their documentation on an offer, how does it compare to the websites and used cars you researched?

Doing your research and having adequate support for your settlement demand can help you negotiate a claim that aligns with the payout you deserve.

Contact a Colorado Car Accident Lawyer

Maximizing your potential settlement in a total loss claim really comes down to proper research and preparation.

You need to show proof that your vehicle was in the best condition. If you need help on how to negotiate with insurance adjusters about a total car loss, speak with a lawyer.

The experienced team of Colorado car accident lawyers at Tenge Law Firm is ready to assist you.

We have years of experience representing injured victims for all their Colorado personal injury needs, including a total loss accident settlement.

Let us help maximize compensation in your injury and property damage claim.

Contact our office today to schedule a consultation and learn more.

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