2019 SR+ totalled. How to find insurance value

[Kamban]

My Sept 2019 SR+ with no FSD but with heated rear seats was totalled when another driver made an illegal dart across 2 lanes to get to a center lane when both our views were blocked by a large vehicle standing on the right lane.

The other insurance company is unsure of its value and will try and offer me a low price for this car which was very well kept with no scratches inside or out and had low mileage (9K miles) due to reduced COVID driving.

How do I find out the true value of my car so that I can refute their low offer. Any sites that tell me that?

 

[AxlxA]

I think it's common to show them listings from used car sites with similar miles and condition of your car. I'm not sure if Tesla used inventory can work though. That'd be the highest value

 

[qdeathstar]

FYI Tesla offered me a trade in value of 42k for mine with blue paint 19” rims and fsd... subtract 7k from that and you are at around 35k... yours had double my miles.. so I would say 33-37k is the trade in value. But of retail would be more.

 

[Cleo-n-Company]

Doesn't KBB have to figure into the equation at some point ? I'm sure the insurance company is going to try and settle at the lowest dollar. But lowball trade-in offers don't equate to what you would have to pay to purchase a like vehicle.

Good luck and give 'em hell. It sounds like the Tesla protected you Ok ?

 

[jeremymc7]

This will be based on comps in your area. When one of mine was totaled in May the comps were above price on one from Tesla; factory was closed and prices were up. They paid me thousands more than I paid new.

 

[CapeOne]

Insurance companies typically look for comps in your area. Also, depending on your state, you may be able to get sales tax and possibly title/registration fees. So, if comparable cars are selling for $35k and sales tax is 6% then the payout would be $37,100.

If you feel their payout offer is too low, simply provide them with examples of cars for sale in your area that you think better represent your car's value. You don't have to accept their first offer.

 

[jeremymc7]

Yes, I also got reimbursed sales tax as well as pro-rated title/reg. They even cover the jeda hub, wireless charger, and a bunch of other addon's in the car. Which was nice because the replacement car had a different console and needed different accessories.

 

[tbwnm]

My 2019 Model 3 SR+ Silver Metallic (took delivery in October 2019) was totalled in August by a hit and run on the FWY in Los Angeles. Settlement from CONNECT was all based on current comps in my area (at that time there were not many which I think helped up the settlement a bit?). I had 7K miles and car was immaculate. Gross ACV settlement came to $40,507 and with prorated taxes, fees & registration the total settlement came out to $44,568.06 which will just about cover the cost of replacing with a new one (I have one on order). My vehicle came with 2 years of free supercharging as part of a promotion of which I still had 13 months left but insurance refused to provide additional compensate for this. They were not able to identify the driver that hit me so our claim was settled under my uninsured motorist coverage. My understanding is your will get a better outcome if you go through your insurance for the claim (even if the other party admits fault) and you do deal with the other parties insurance directly. Let your insurance handle this.

 

[jeremymc7]

Above is similar to me in MANY ways. Unfortunately I didn’t have any unlimited supercharging but had some free charging. I did try and get some comp for this and that’s the ONE thing insurance company said no on. There answer was it’s the same as gas and they don’t reimburse for any gas in or related to a totaled ICE car.

As above, yes let your insurance deal with everything.

Other person had a lawyer called me hours afterwards. Their insurance hadn’t even heard about an accident. They tried to spin things.

I told my insurance I refused to talk to the other party, their insurance, or their lawyers under any circumstances.

By that time though I already had my people pull all footage from every building anywhere near the accident and talk to every person the cops had talked to. I told the insurance I had not spoken to any lawyers or they would have had to remove themselves and instead forwarded to them everything collected in my favor. It helped a lot. They were kind of shocked.

I would also strongly suggest an umbrella policy of at least as much as you’re worth. Not very expensive compared to automotive and covers a lot.

 

[Msjulie]

I'd be arguing for replacement value; your insurance company may or may not help you with that though depending on your coverage.

 

[SageBrush]

New I'd be arguing for replacement value

Why is that an argument ? I thought insurance is set up that way. Legalese along the lines of 'being made whole.'

Vroom is an easy way to find comparables. E.g

 

[DopeGhoti]

Why is that an argument ? I thought insurance is set up that way. Legalese along the lines of 'being made whole.'

Because the cost of a like-replacement is likely to be higher than the reimbursement for the amount of loss (i. e. "actual damages").

Just by way of one for-instance, a 2019 LR AWD with FSD would have depreciated in the intervening year, while the price of FSD has gone up, meaning it would cost more to replace just that aspect of the car than you would be reimbursed for your actual damages.

 

[SageBrush]

Because the cost of a like-replacement is likely to be higher than the reimbursement for the amount of loss (i. e. "actual damages").

Just by way of one for-instance, a 2019 LR AWD with FSD would have depreciated in the intervening year, while the price of FSD has gone up, meaning it would cost more to replace just that aspect of the car than you would be reimbursed for your actual damages.

I follow if you are talking about repair Vs total loss. Vroom selling prices for cars like OP's, and the price for a new similar car from Tesla.com are both in the 38 - 39k USD range.

 

[Msjulie]

Why is that an argument ? I thought insurance is set up that way. Legalese along the lines of 'being made whole.'
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It depends on your coverage and all that - we had a pretty old VW Bug convertible, normal book value basically zero but those old air cooled bugs have a following and trying to replace it was difficult if not impossible/costly. So for that car we actually had to call out replacement value for loss. The job of finding the replacement would still be our problem - wouldn't that be amazing, the insurance company finding the replacement!