How can I make sure I am getting the most I can from my claim?

How do I know if the insurance company paid out the correct amount for my car? My car was totaled about a month ago and I just received the check. I heard that claims adjusters try to pay out as little as possible and I want to make sure I received the fair amount.

Most car insurance adjusters will give you an honest and fair payout on your totaled car, but it doesn’t hurt to make sure!
Insurance providers pay physical damage claims out for ACV (actual cash value). ACV is the replacement cost of the car minus depreciation.
To confirm that you received the correct amount, go online and search the ACV of other cars like yours. They would need to be very similar and have the same:
  • Year, make, and model
  • Specifications
  • Mileage
  • Wear and tear
The average ACV should match your payout minus your deductible. If it seems off, contact your claims adjuster and submit the examples you have found. You can have your claim to be reviewed and request a higher payout.
If you end up unhappy with your claims service, keep this in mind when it is time to review your policy. Service is an essential expectation of your insurance policy and it might be time to change companies.
If you are looking for better service and a cheaper rate, Jerry can help! Jerry shops prices with over 50 different insurance companies and delivers the lowest rates straight to your phone in seconds. If you have any questions, you can text an agent, and they will text right back with assistance!
Shannon Martin
Answered on Oct 21, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.

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