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Discussion Starter · #1 · (Edited)
UPDATE: Just heard back from the adjuster, they've taken a closer look and decided to repair it.
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Insurance company decided to total my 2006 CTS-V after a low-speed front end collision. RIP, you've served me well.

Any advice on negotiating value with the insurance company? I can't find many ads for 1st gen cars to use as comps. NADA shows about $10k, KBB about $24k. I suspect there just aren't enough data points for either to be statistically significant.

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They're totalling it for THAT? Doesn't look bad at all. My deer strike looked similar and wasn't close to totalled (but that was 5 years ago). V1 values (like every car these days) are nuts. Most V1s I've seen are 150k+ miles and $15k+. Good shape, under 100k easily $20k or more. The KBB value seems more realistic for low mileage. Find a few on FB Marketplace, Autotrader, Cargurus, etc with similar miles to get an better idea of realistic current market value. Maybe you'd be better off getting paid out and fixing it? Good luck.
 

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may want to buy that back and part it out or fix it with used parts

you have to argue the condition of your car and then compare it to any comps
For example I can see the carpet looks soiled- they would assign this a low value versus a carpet that looks almost new

same goes for tires, seats, paint, glass, dents, etc
 

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Discussion Starter · #4 ·
They're totalling it for THAT? Doesn't look bad at all. My deer strike looked similar and wasn't close to totalled (but that was 5 years ago). V1 values (like every car these days) are nuts. Most V1s I've seen are 150k+ miles and $15k+. Good shape, under 100k easily $20k or more. The KBB value seems more realistic for low mileage. Find a few on FB Marketplace, Autotrader, Cargurus, etc with similar miles to get an better idea of realistic current market value. Maybe you'd be better off getting paid out and fixing it? Good luck.
I hope to get the full analysis in a day or two, but I suspect that one of the frame rails is bent. My only concern about keeping the totaled car is that I might have trouble insuring it with the salvage or rebuilt title. I'll have a better idea which way to go when I get their report.
 

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they are going to push to pick the car up, dont let them take it until you finalize how much you are getting paid and obviously if you want to buy it back
once its gone you have no recourse to argue
 

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This is a negotiation. You are under no obligation to make a decision immediately. Take a few days, make a few phone calls. You might be able to have them adjust their assessment to just short of totaling the vehicle and getting it fixed or fixing it yourself. No branded title that way...

Of course, you could always take the insurance check and put that towards the car you've had your eye on. In that case, you'll still want as much as you can get from them.
 

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This is a perfect example of getting an insurer like Hagerty. You can tailor the policy for an "agreed upon" amount that could be more than KBB, which then dictates your premium. If it's stolen or written off, you get a hassle free cheque for the amount.

They insure my 09, and for the same rate as a general carrier, I now have full use of it year round and a realistic value if totaled.
 

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This is a perfect example of getting an insurer like Hagerty. You can tailor the policy for an "agreed upon" amount that could be more than KBB, which then dictates your premium. If it's stolen or written off, you get a hassle free cheque for the amount.

They insure my 09, and for the same rate as a general carrier, I now have full use of it year round and a realistic value if totaled.
when my last v got totaled I wanted grundy’s daily driver program but they wouldn’t let me do it because of a minor fender bender my wife had gotten into. Even though they have insured cars for me for over 25 years. You just reminded me to look back into it.
the good thing is car values are way up but that doesn’t stop scumbag insurance companies from trying to shaft you
 

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If your policy includes it, you can hire a 3rd party appraiser. I had to do this in a similar situtaion. I believe it cost around $300 or so. When they come back with that value, if it's much greater than the insurance company will hire one. They will either meet in the middle or hire a 3rd one. That $300 made me way more money than they were offering.
 

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Insurance company decided to total my 2006 CTS-V after a low-speed front end collision. RIP, you've served me well.

Any advice on negotiating value with the insurance company? I can't find many ads for 1st gen cars to use as comps. NADA shows about $10k, KBB about $24k. I suspect there just aren't enough data points for either to be statistically significant.

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That's BS! I have an 05' with over 200K miles and I suffered a huge shunt on the 57 Freeway in OC CA. Majority of the damage was unseen, almost $6k later in repairs (insurance claim) and it's on the road again. Buy it back and fix it! These cars are only going to go up in value and the parts alone are worth hanging on to for. I've had two separate guy's follow me recently and pull up and offer to buy my car, one $50K cash, said he's been looking for an original owner car to buy. Anyone's crazy to let their car go!
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Discussion Starter · #13 · (Edited)
If your policy includes it, you can hire a 3rd party appraiser.
Unfortunately it's not my policy, it's the other driver's liability policy. I've read that 3rd party appraisers generally aren't an option in that case, but I'd love to hear otherwise if anyone has a different experience.

Edit: On second thought, as long as I haven't taken a settlement it's still my car and can have anyone appraise it as long as I'm willing to pay. I might do that, thanks.
 

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Check Bring a Trailer for past sales of the V1. They have a history available to you. Also, call Hagerty and see what they will insure your car for as a guaranteed value. They have useful information.
 

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This is a perfect example of getting an insurer like Hagerty. You can tailor the policy for an "agreed upon" amount that could be more than KBB, which then dictates your premium. If it's stolen or written off, you get a hassle free cheque for the amount.

They insure my 09, and for the same rate as a general carrier, I now have full use of it year round and a realistic value if totaled.
One caveat to them and others is they refuse to do a "agreed upon" policy for a car that isn't garaged full time. What that has to do with getting actual value in case someone hits you, I have no clue. But all the top 3 rare care insurance companies said the same thing when I tried to do it.
 
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