My FIL had some nutcase smash into his parked 2021 Rav4 XSE Hybrid AWD (had 13k miles on the odo) in a parking lot, and the insurance co (Travelers) had a damage assessment done. He forwarded me a CCC One report that listed all the details of the Rav4, and a value estimate. It was $42.5k base estimate plus a few thousand more for taxes and fees (so $47k declared value before deductible).
My questions are: 1) does this mean that his Rav is indeed totaled? If so, 2) is this a reasonable value estimate for the worth of his Rav? Travelers agent handling his claim is off today, so can’t confirm till tomorrow.
It probably is the right value. If you browse the CCC report it includes similar vehicles in your ZipCode and puts those cars in the report so you’re (or FIL) getting the Actual Car Value (ACV)
Ask your adjuster if it’s totaled - no one here can answer that question.
It’s been over 12 years since I worked in insurance, but I don’t think I ever ran a value report unless my estimate hit the total loss threshold. I think it was like 70% of some generic value (not sure where the estimate software pulled it from), then I’d do the eval to get a custom value specific to that vehicle.
Plugged in his VIN into Carvana and it spit out a $39k quote, so I’m assuming the $42.5k value his insurance co assigned is fair. Even bait-and-switching CBUSA gave $43k as an initial quote.
Now the question is what to replace his Rav with. He said he wants a Tesla.
Supposedly the driver of the other car pressed the gas instead of the brake pedal by mistake or something. And like stayed on the throttle for 5 seconds before impact. Really blows the mind because the “parking lot” has only like 8 total spaces. Lol
I think the guy damaged a total of 3 cars (plus his own).
Yeah, if he wants a Model Y, he’d probably have to wait till Q1 next year via regular order…unless he got a performance. May have to finally check out that discord server. Lol
So received a follow-up email from the “Total Loss Representative” and the final payout is actually a little higher than the initial…they valued the FIL’s car at $43k base value, then added another $1k for condition/miles (and then added in taxes and fees). That’s pretty much exactly what CBUSA quoted for his car, so 99.99% sure he’ll accept the offer.
