Quote:
Originally Posted by Presto
It's not an injury claim. It's about getting a few more bucks for his car (RSX?). The extra bucks would be negated if you have to pay a lawyer to help you push up the value.
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I wanted to keep the details of my specific case out of this, so that this thread can be used by everyone, but nope it's not an RSX. something much harder to find; STi (If anyone one here comes across ads i can use with a value close to 20g, please pm them to me). And thank you for pointing out why a lawyer isn't the way to go here. I knew that, but just didn't wanna say it.
Quote:
Originally Posted by 68style
Do your research, in 2007 when I got hit, ICBC used a catalogue of ads from Craigslist and Auto Trader for your make and model of car in similar condition and come to a valuation.......... so you should do the same, print off ads and rationale for why your car is worth (X) amount and decide what you think is fair for it... see what they come in with and if it doesn't satisfy you start arguing.
I found in my situation they were pretty nice to me but I know that's not always the case. I also made it known to them that it wasn't my only car and I was in no hurry to settle I think with a lot of people they can be like "Well you gotta get some wheels back on the road right?" and take that approach...
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I think you missed the part where this thread is about after you've done your research and you still don't like the value ICBC has given. And ICBC has explained to me that even if someone accepts the value and cashes the cheque, that person can still go to arbitration within 2 years of the claim.
Also, when you said "decide what you think is fair for it", do you tell ICBC this value? because it is my understanding it's not a negotiation, instead, it's strictly what can be proven through documents.
Quote:
Originally Posted by Mancini
ICBC relies on a third party company that does North American market research about comparable vehicles. I think the company is Audatex.
When my car was badly damaged it was actually right on the line for a write-off. I was hoping this would be the case, since I had a limited depreciation policy. ICBC (Audatex) actually screwed up the valuation by mistakenly adding options and comparing incorrect versions of my car. They offered me way, way, way too high, which as against my interest at the time. I asked them for their supporting documentation and they sent me a copy of the Audatex results. This is when I found the errors and had things adjusted (although still with a great deal of difficulty).
I don't think ICBC is particularly trying to screw people on vehicle valuation. I think they blindly rely on their third party solution and are far too busy to care about mistakes one way or the other.
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great info on the Audatex! But i'm confused, the valuation was too high, so you did the honourable thing and reviewed their documents so that the valuation got lowered? ie they were going to give you too much money, so you told them to give you less?