hey all -- my prius battery was stolen, and insurance is declaring it a total loss, since repairs are estimated at $14k, but they're giving me what seems to be a pretty low settlement offer: ~$13k+tax. this is for a 2012 prius 3 with 60k miles, in excellent condition before the battery was stolen. the KBB value is $16,273. looking at comparable cars in the area on autotrader, etc., i'm getting an average around that as well. any suggestions on what a fair offer might be? looking at prior threads, it seems that prius cars keep value well, and most insurance companies offer above KBB. i'm not entirely sure why this insurance company seems to be low-balling me. there are extenuating circumstances as well, which i had thought would work in my favor for them to want to "make me whole": my car was parked in a secured/patrolled lot, but security gates had been opened and power to security cameras shut down for several days due to construction. the police who came to take the report were incredulous that security had not even noticed this burglary while in progress (a ruckus requiring ~60 minutes and moving a bulky 150-200lb battery) or for several days afterward (car door ajar, broken glass, metal debris, blood all over). might these constitute negligence on their behalf, and what are my options if they continue to give me an unfairly low offer? thanks all for any help/advice you can provide
Is Prius battery theft "a thing" now? And how does the repair bill for a stolen battery total $14k? Did they use a blowtorch to cut it out??
Around here, $13K wouldn't be bad at all for a 2012 three if it's in good shape and reasonable miles. But I know CA has higher prices for everything. Maybe they are quoting you on a base price. I had to argue my case when our '07 package 6a got totaled. When I told them about the options, they said something like, "Oh! Why didn't you say so?" But I had said so. They were just hoping I wouldn't notice.
@spiff72 , this was the first battery theft that this toyota dealership has seen. OEM battery and electric harness are about 5k each. looks like they used wire cutters on the high voltage harness but somehow didn't electrocute themselves. @jerrymildred , thanks. i did mention options (xm radio, bluetooth, etc..) and they bumped it up another $500. i'm still surprised that they're offering lower than KBB value. @ILuvMyPriusToo , they smashed the rear quarter window and then reached in to open the door, probably cutting their arm on the shattered glass and then proceeded to bleed all over the place as they were tearing out the battery. the detectives said there was plenty of blood evidence to send for DNA analysis, so we'll see... any suggestions on how i might better negotiate with these folks? thanks again...
I'm not a fan of lawyers, but maybe you should talk to one that specializes in insurance. You would think that the parking place is somehow responsible?
Very strange! I had a car stolen many years ago and, when it was found a month later, the 12 v battery was gone and the battery cables cut. The insurance company didn't want to cover that damage because they said that if anyone wanted to take the battery they would have opened the clamps rather than cutting them (they actually told me off record they thought the garage that towed the car back after recovery had done that just to get more reimbursed work). Maybe your adjuster thinks there is something weird about all this (it does sound very unusual) and that is why they are low balling the estimate? If they want to offer less than book value, they should explain why (prior damage, excessive miles don't sound like they apply here). Good luck! Insurance companies often act like bullies . . . unfortunately, a lawyer might be needed.
Go consult with a lawyer, especially one made knowledgeable about the Prius. Sometimes just the implied threat of litigation is enough to bring them back to the table. Also, suggest that you really want your Pri back so if they can find you one anywhere matching your year/trim/mileage/options for the price they are offering then you will gladly take it. Some of the insurance companies are starting to use an industry book that many car dealers use to value (rob) trade in vehicles. Posted via the PriusChat mobile app.
A few weeks ago Geico gave me $12,600 +tax for a 2014 Prius II with 59k in great condition. I thought it wasn't bad at first when I compared used prices online. Geico showed a comparison of 5 cars in the area listed on autotrader that they use to come up with their price. Then when I went to actually shop I found out all the dealers in Florida charge a $700-900 'dealer fee' that Geico of course doesn't include. KBB and Edmunds said private party value was around $12,300 while dealer retail was around $13,500. I probably should have argued for more. The closest ones to yours that I looked at were a 2012, trim 3, 32k mi for $14k +$800 fee from a dealer and a 2013, trim 3, 38k mi for $14k from an individual. (taxes not included in either)
There are companies that provide valuation for insurance companies -- ask them who and how. Often the condition or options are off -- and a supervisor can normally authorize a few extra 100. What company ? The situation around the theft does not matter -- it's how they value , the policy and the internal procedures. I have agreed value on my cars.
Who is your insurance company? Maybe it's time to switch? I had 2 cars stolen within a month about 3 months ago. I got a great value for them from State farm. My friends with other companies have a hell of a time with evaluations and always fighting.
