CX-3 Final Update: Settlement

"CarsofFortLangley - Oppo Forever" (carsoffortlangley) 09/05/2019 at 17:08 • Filed to: Best of COFL

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So, here we are, t otal loss. N ow time to talk settlement. I received a call from the “settlement specialist” (the adjusters don’t handle it) who, after some discussion about the vehicle, offered me $21,000 CAD for it.

How I will remember it. Clayed, waxed, detailed and stunning.

That...wasn’t going to fly for a ‘16 GT in the best colour with 45,000km in such good condition. I declined the offer and said that I would email her my counter. Yes, I did recycle some of my prose from previous emails. It’s good for the environment, plus you can re-deploy old stuff to new people.

(So the “OBO” thing is essentially an amount they discount off your settlement for what they perceive would have been any negotiated discounts on the similar vehicles they are looking at to build their offer. It’s total bullshit for the most part.) You know, or best offer.

Hi (Settlement Specialist),

Thanks for your call and your subsequent email regarding adjusting the value based on my previous spreadsheet (reattached).

It should be noted that small crossovers are in extremely high demand right now, I won’t accept any automatic deductions based on “OBO”. List price is often sale price. If this was a sedan/hatch/wagon or an older vehicle, I would be open to OBO deductions.

Also, I would request that our allowance of 3 remaining days be saved for use next week as we look to replace our vehicle. We are out of the country this weekend and are not able to. I trust this is a reasonable request.

Our CX-3 also had front/rear mud guards, body side moldings, door visors and a rear areo lip which all the others do not have. Canadian labour/RC pricing attached for those addons. To re-confirm, these addons are exclusive of any package/trim level/options. They are visual in nature and be clearly seen in the photos of the car compared to photos of other cars.

The tires are also new as of the end of 2017. Based on how little the vehicle drives, these tires would have several years of life left in them.

As an adjuster, I wouldn’t expect or ask for anything that I wouldn’t offer to an insured or a third party as fair settlement on a total loss. As car enthusiast, driving enthusiast and detailing enthusiast !!!error: Indecipherable SUB-paragraph formatting!!! (photo link), maintaining the interior/exterior cleanliness at all times as well as caring for the physical health of the interior/exterior materials. All four vehicles are in perfect condition despite one being 34 years old and another having 120,000km.

Based on re-evaluation of the current mileage of the vehicle, I would look for $24,500 plus taxes/extras as a fair ACV for both ICBC and myself. I don’t care to go back and forth on claims I handle and expect the same from my insurers when a fair offer is put forward.

In addition to the ACV settlement, we incurred expenses reprinting the registration, hiring a Notary for the proof of loss and incurred some loss of use expense before an adjuster was involved due to the theft taking place on a Saturday morning. I’ve attached receipts for the LOU, notary and ICBC doc fees totaling $182.43.

Can you also advise on how my Autoplan cancellation will be backdated to August 10, 2019 (the DOL) with the cancellation fee waived or reimbursed? It will be a month since the theft next week and we’ve been paying for coverage on a vehicle we have not had custody of. 8.3% of a year isn’t a small amount of time to have totally underutilized insurance.

I look forward to working with ICBC towards a fair and equitable settlement. If my $24,500.00 plus PST/GST offer is acceptable, can you confirm how soon I would see that cheque as well as the others requested above?

It took a day and involvement of a manger, but we did settle. The total amount is: $24,537.52 + PST $1,717.63 + GST $1,226.88 (no ded) = $27,482.02 . On top of this, I will have my coverage cancellation back dated by a month, and reimbursement of some other costs. So, call it $28K (CAD) all in for this whole debacle. The car was paid off, so the cheque will be fully made out to my wife and I.

I’m pleased with the fair result, but this is way to much work for your average person to get a fair amount from their insurer.

Also, it should be noted that I paid $23,500 two years ago next week for the car, but you can’t penalize someone for getting a good deal. Market value is market value.

The Sportwagen is already agreed at $22,500+tax so it should leave $2K to spruce up the wagon.

I hope you all enjoyed the ride. It was stressful. 0/10, would not recommend getting your car stolen.

If you missed any of it:

BlueMazda2 - Blesses the rains down in Africa, Purveyor of BMW Individual Arctic Metallic, Merci Twingo > CarsofFortLangley - Oppo Forever 09/05/2019 at 17:10

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The shitshow is over.

You deserve this for how well you handled it all.

MM54 > CarsofFortLangley - Oppo Forever 09/05/2019 at 17:13

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Glad it’s over, and even better yet that it worked out fairly well for you.

KingT- 60% of the time, it works every time > CarsofFortLangley - Oppo Forever 09/05/2019 at 17:14

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ttyymmnn > CarsofFortLangley - Oppo Forever 09/05/2019 at 17:19

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Good on you for doing the work. I imagine most people don’t know you can haggle on stuff like this. 

Stapleface-Now Hyphenated! > CarsofFortLangley - Oppo Forever 09/05/2019 at 17:19

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See, you know how the game is played. Most people don’t. I imagine that the vast majority of people would just accept what they offered as they didn’t realize it could be negotiated. I get that the insurance company is trying to save money. But it just seems like a lousy tactic to actively try to undervalue your clients who trust you to provide comprehensive coverage for a total loss a t fair market value.

Now, all that being said, glad this whole thing is now behind you (or will be when you get the check). I think it's safe to say anything with a proximity key is permanently off the shopping list. 

CarsofFortLangley - Oppo Forever > Stapleface-Now Hyphenated! 09/05/2019 at 17:20

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It really bothers me that insurers do this.  As an adjuster, my personal rule is to never offer/suggest anything that I wouldn’t accept.  When I meet people, the first thing I say is “I’m fair and transparent, I expect you to be as well”.

We already have a deposit down on a Sportwagen with an old timey key!

The Fiesta is push to start, so that remains boxed in by other vehicles when not in use.

CarsofFortLangley - Oppo Forever > ttyymmnn 09/05/2019 at 17:23

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People shouldn’t have to honestly.

It feels good to get what I deserve and what is fair.  I hope nobody here thinks I ripped off the insurer.  

vicali > CarsofFortLangley - Oppo Forever 09/05/2019 at 17:24

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Well played, glad it’s done.

USUSGTO > CarsofFortLangley - Oppo Forever 09/05/2019 at 17:27

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the only time I have made money on a car was when on my Passat TDi.

Bought for 23,500.

Drove it 75 THOUSAND miles in 2.5 years.

One small accident - front fender bender - a few days before VW buy back.

Offered $25,000. Took it and was happy .

gettingoldercarguy > CarsofFortLangley - Oppo Forever 09/05/2019 at 17:28

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Way to knock it out of the park.

Rusty Vandura - www.tinyurl.com/keepoppo > ttyymmnn 09/05/2019 at 17:28

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Same for medical bills.

Rusty Vandura - www.tinyurl.com/keepoppo > CarsofFortLangley - Oppo Forever 09/05/2019 at 17:28

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Cancellation?

CarsofFortLangley - Oppo Forever > USUSGTO 09/05/2019 at 17:28

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Holy shit! Nice man!

CarsofFortLangley - Oppo Forever > Rusty Vandura - www.tinyurl.com/keepoppo 09/05/2019 at 17:29

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It’s so fucky you guys have that.

CarsofFortLangley - Oppo Forever > Rusty Vandura - www.tinyurl.com/keepoppo 09/05/2019 at 17:30

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Yeah, I still had active insurance on it.  (still do).  I want my money back for the time that it’s been out of my custody.

TheTurbochargedSquirrel > CarsofFortLangley - Oppo Forever 09/05/2019 at 17:34

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Time to roll into the dealer and buy that Sportwagon with fat stacks of cash like a total baller.

CarsofFortLangley - Oppo Forever > TheTurbochargedSquirrel 09/05/2019 at 17:35

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24000 loonies.

TheTurbochargedSquirrel > CarsofFortLangley - Oppo Forever 09/05/2019 at 17:37

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Just walk into the finance office and drop a duffle bag of cash on their desk and see how they react.

promoted by the color red > CarsofFortLangley - Oppo Forever 09/05/2019 at 17:37

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Bryan doesn't drive a 1M > CarsofFortLangley - Oppo Forever 09/05/2019 at 17:39

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Is that 12,000 toonies? (I’m not Canadian, so I’m sort of actually asking )

CarsofFortLangley - Oppo Forever > Bryan doesn't drive a 1M 09/05/2019 at 17:41

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you got it!

CarsofFortLangley - Oppo Forever > TheTurbochargedSquirrel 09/05/2019 at 17:42

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Not to “humblebrag”(??) or anything, but I’ve seen this done. My dad bought his Corvette in cash.

They call the police to do a money laundering check.

TheTurbochargedSquirrel > CarsofFortLangley - Oppo Forever 09/05/2019 at 17:43

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Well that’s no fun.

CarsofFortLangley - Oppo Forever > TheTurbochargedSquirrel 09/05/2019 at 17:46

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Outside of the very specific reasons on why he did that, it really is dumb to buy in currency.

What you SHOULD do is put as much as possible as a “deposit” on your visa, get that 1-3% cash back and then pay the rest with a draft.

RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars > CarsofFortLangley - Oppo Forever 09/05/2019 at 18:12

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Chip key = better than stupid keyless fobs because you have twice the security features to defeat...the RFID tag in the key AND the key.

Rusty Vandura - www.tinyurl.com/keepoppo > CarsofFortLangley - Oppo Forever 09/05/2019 at 18:26

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Yes, but we Murican.

CarsofFortLangley - Oppo Forever > Rusty Vandura - www.tinyurl.com/keepoppo 09/05/2019 at 18:27

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I don’t think that’s a good thing these days

Rusty Vandura - www.tinyurl.com/keepoppo > CarsofFortLangley - Oppo Forever 09/05/2019 at 18:27

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Right. I wondered if they were dropping you because your car’d gotten nicked. Sounds like you got a good settlement, though. Have the coppers made any progress solving the crime, or are they even bothering?

AestheticsInMotion > CarsofFortLangley - Oppo Forever 09/05/2019 at 18:27

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You are a freaking superhero 

CarsofFortLangley - Oppo Forever > Rusty Vandura - www.tinyurl.com/keepoppo 09/05/2019 at 18:34

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File closed the day of theft I’m afraid.

One good thing about having a monopoly, you can’t get dropped. Nowhere else to go  

shop-teacher > CarsofFortLangley - Oppo Forever 09/05/2019 at 19:01

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Man, this was quite a  saga. I will definitely be consulting with our resident insurance guy, if I ever have to deal with this crap. So far I have never had to make an insurance claim *knocks wood*

Chariotoflove > CarsofFortLangley - Oppo Forever 09/05/2019 at 21:44

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That is exactly what we did to buy my wife’s solars.

Helluva trilogy there. I’m glad there was a happy ending and no Ewoks. 

ttyymmnn > CarsofFortLangley - Oppo Forever 09/05/2019 at 21:59

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Ripped off? Hardly. Insurance companies wouldn’t have any money if they paid out everything at full value. It is in their vested interests to pay as little as possible. You just worked to get what you thought was fair, and it probably came down somewhere between your best figure and theirs.

His Stigness > CarsofFortLangley - Oppo Forever 09/05/2019 at 23:49

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Dude, you spelled “check” wrong. 

CarsofFortLangley - Oppo Forever > His Stigness 09/06/2019 at 00:01

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I think you’ll find that’s how they spell it in good countries 

His Stigness > CarsofFortLangley - Oppo Forever 09/06/2019 at 00:31

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CarsofFortLangley - Oppo Forever > His Stigness 09/06/2019 at 00:34

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Also, we pronounce it Chew-ke.

(not really)

His Stigness > CarsofFortLangley - Oppo Forever 09/06/2019 at 12:29

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EH