Re: Should we use Kelly Blue Book value?

Unfortunately, the insurance industry has not been using the Kelly Blue Book for a number of years- probably because the values in the Blue Book were a little too "fair". The insurance industry specifically hires companies to provide values on vehicles to the insurance company's usually at very conservative levels. These outside companies are paid by the insurance industry so we know where their loyalties lie. A problem occurs because I am told that new and used car dealers continue to use the Blue Book as a yardstick for determining sales prices.

Unless you are willing to make some compromises, you may want to consider hiring your own private independent appraiser. Many of them charge about $100 per hour and you may be looking at a $300 to $500 fee. However, if the difference between you and the insurance company is over $2,000.00, it may be worth your while.

If you did hire an attorney, in all likelihood, you would have to pay the attorney's fee. And if a lawsuit was filed, you become the plaintiff and would then have the burden of proof of proving that the value of your vehicle is upwards to $9600. There again, we may be back to hiring an independent appraiser to provide expert documentation and testimony on your behalf. If you are knowledgeable about your car and can continue to negotiate with the insurance company on your own, you can simply hire the independent appraiser yourself and hopefully his opinion would be in line with yours.

Yours truly,

Sam M. Eagle

Attorney at Law

Re: Should we use Kelly Blue Book value?

Insurance companies do not base the value of autos on the Kelly Blue Book, they should but they don't. What they base it on is current market value. They find out what your car is selling for in your area buy doing a search of all like vehicles in the area, and then finding out what they are selling for. They then compare the subject vehicle to the vehicles in their search to see if the subject vehicle is in better condition. If it is, they offer more. If you want more than they are offering you should do your own research. Start with the web and if your car is unique, and none are for sale in your area, find out what they are selling for in the surrounding area. If other like cars are selling for what you are asking, present your evidence to the insurance company. With enough convincing evidence, you may be able to get them to offer more money, but you may not get blue book value. If you would like some help in the matter you can contact my office. If you weren't injured in the accident, I could help you with the property damage on an hourly rate. I would need to discuss the matter with you before quoting you the amount of time it would take to research and settle the matter. If you were injured, I can help you with the property damage, and take my fee out of the personal injury settlement. You can contact my office for a free, no obligation consultation if you are interested in retaining my services. My toll free telephone number is 877-546-9918, or you can email me at lawoffice@onemain.com. I hope I have helped at least point you in the right direction.

Sincerely,

John Hayes, Esq.

Re: Should we use Kelly Blue Book value?

You are entitled to the replacement value of your vehicle. How much will it cost to purchase your make and model of car in the same or similar condition (repairs included)? That is what you are entitled to...along with sales tax and the return of any unused portion of the registration fee on your totalled car. It is up to you to prove what the replacement value (in your area) of your car is. Newspapers, Auto Trader (they are on line), Blue book and etc. are great sources for information. Give the insurance company the data to prove the value that you feel it is worth. Remember they are going to search for data to support the lowest possible price to pay you. It is on you (or your attonrey) to show proof of a higher value.

If you have injuries from this accident, do yourself a favor and get a Personal Injury Specialist on your side. The best law firms will give you a free consultation, no fee until they recover for you and they will advance all costs. At least get the free consultation. If interested call my firm for a consultation.

John Bisnar, Senior Partner, Bisnar & Chase, Personal Injury Attorneys & Counselors at Law. I have been representing injury victums since 1978. 800-956-0123.