While your car may have been worth $20,000 when you first purchased it, the value of a vehicle begins depreciating the moment it’s driven off the lot. So, your vehicle is worth less now after factoring in depreciation.
If you find those figures are more than what your insurance is offering, use your research to strengthen your argument. You may want to write a formal letter of demand that clearly states the settlement amount you desire, as well.
Once your insurer receives your letter, a claims adjuster will review the evidence and provide another offer. Whether you accept it is up to you—but if you reject it, you’ll need to clearly state why, as well as provide additional proof to back up your reasoning.”