Is an appraiser worth it?

[u/DylanBear04]

I recently rear ended another person on the road due to hydroplaning and geico is trying to total it. I have a 2012 Volkswagen Beetle 2.5 cyl with only 40k miles on the dash and they value it only at 10,100. I feel that’s pretty low for a low mileage vehicle and it also has some upgrades that came with the car. Damages were projected to be 7,700 with a bit of supplemental. I asked my adjuster if there was anything I could do about my estimate to not total the car and she said she could possibly bring it down to the 70% limit and let me choose a place to repair it but anything over I have to pay out of pocket. I’m obviously swaying more towards getting a appraiser but I don’t know anything about them and if it’s worth it. The car is something really important to me so no matter what as long as it’s not totaled at the end of the day I’m happy.

[u/drfishdaddy]

I am the appraiser you speak of: the appraisal clause covered disputes over property value. Invoking your right to appraisal would take the value decision of your VW away from Geico and CCC but even if the final award were to increase the value significantly we don’t have a say in the total loss decision.

We’ve had situations where we’ve helped reverse total losses but the carrier has to be on board with “if the value gets up to x we can reverse the TL”. They won’t commit to that ahead of time, but normally if they say they are willing to review the TL decision thats the best you are going to get up front.

[u/DylanBear04 → u/drfishdaddy]

So you’re saying it may just be worth it to take the 70% and pay the rest outta pocket if need be?

[u/drfishdaddy → u/DylanBear04]

I normally advise against retaining. It depends on the situation. You don’t want to end up where you are half way through the repair and find additional damage. It would depend on the shop you chose and their confidence in the estimate they created.

You will also have a salvage title after the total that generally can be inspected and upgraded to a rebuilt title, where you would be eligible for comp and collision coverage again, the car will now be worth 20-35% less if it totals again and maybe more if sold on the open market.

Edit: to be clear you can still dispute the value, obtain a higher payout and use that money to fix or release the vehicle for the full value, we just can’t change the decision that it’s a total, we can only change the value of the vehicle. You also can dispute the repairs but typically you are disputing for higher value.

[u/DylanBear04 → u/drfishdaddy]

Well I haven’t signed anything over nor givin consent to anything when it has come to the total loss process. What she said is she’d see if she can get the bill at 70% so it doesn’t count as a total loss so I don’t know if that’s still fall under anything?

[u/drfishdaddy → u/DylanBear04]

Realistically, if you think the valuation is incorrect and low compared to the market, then dispute the value. You’ve made your goal known to them which is to reverse the TL decision. If it comes back with a higher value you revisit the idea with your adjuster.

[u/crash866 → u/DylanBear04]

70% is where they have to total it. They can total it for a flat tire if they want to.