IS250 Total Loss Value...what a pain
#17
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So GEICO uses a system called CCC One, which supposedly takes the actual sales of vehicles that are similar to yours and that is where they get their price from. They use a radius to get the sales, they have to get so many, if not they increase the radius. Unfortunately the system is really useless. It doesn't account for many features, so it is a bad comparison. All I did was find almost the exactly the same car I had which was considerably more than what they were going to give me for my old one. I told them that was the car I wanted to replace my vehicle. Nevertheless, GEICO went and bought the car and transferred the title in my name. All insurance companies are supposed to make you whole. Either by bringing you car back to pre-collision condition or giving you enough total loss money to actually buy another of your vehicle and if all else fails demand they replace your vehicle. Emphasis on demand!
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When I totaled my is350 (sport pacakge) in 2008, my insurance company paid me $38K (tax included) based on the CPO cars listed (not sold) in the Bay Area lexus dealership. The initial accessment was $4000 less and got bummed up after I called the adjusted pointing out all the options that I have (since sport package pretty much has everything). Within 10 minute talk with my adjuster, he added in $4K more making it $38K which I can easily go into a dealership and buy a similar car without negotiation. With negotiation, I can actually pocket a couple thousands or more.
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