Insurance Write off with Meloche Monnex

[Weapon_R]

Has anyone had to deal with the claims adjuster through Meloche Monnex? I'm wondering how they value a vehicle that has been declared a total loss.

Do they take the blackbook value or the market value? Is there anything I can do to negotiate that number with them?

[Aniki]

Originally posted by Weapon_R
Has anyone had to deal with the claims adjuster through Meloche Monnex? I'm wondering how they value a vehicle that has been declared a total loss.

Do they take the blackbook value or the market value? Is there anything I can do to negotiate that number with them?

when i dealt with meloche monnex they checked both the market value and blackbook value. the number i was given for my write off was more than reasonable

[w_man]

^^ same. On the same note, was your car brand new? they also offer this (cheap) package to add on to brand new cars where they will simply give you the full value of the car in case it's a total loss.

[Weapon_R]

Problem is, there is about 5k between the black book value and the actual market value of a similarly equipped used one.

[Masked Bandit]

Generally speaking, most insurance companies use current market value. Do a little bit of research as to what your ride would have (honestly) sold for just before the accident. If the adjuster offers a number that is too low, you can negotiate but you have to be able to provide examples of other vehicles selling for what you think your car is / was worth.

[w_man]

I understand you can TRY to negotiate with them. You have to have a good case in hand though. Make sure you bring in your research.

We once disputed the value so the adjuster started asking us if we had after market stuff in the car. I had a pos canadian tire deck in it for which he threw in extra 1000 bucks :dunno:

[Weapon_R]

I have no problems proving this. In fact, I can find several examples (more than 5 currently) with similar options for what I am hoping to get. When I pulled up the book value, however, I found that it was surprisingly low. Just hoping to get a reasonable amount so I can get a similar one without being too much out of pocket.

[Masked Bandit]

You'll be fine.

[psycoticclown]

Two or 3 of my friends have written off their cars through theft and stupid shit. And they got more than what they paid for their cars, which they purchased maybe 6 months to a year before their car was written off.

[Aniki]

Originally posted by Weapon_R
Problem is, there is about 5k between the black book value and the actual market value of a similarly equipped used one.

in this case they'll take the market value of the vehicle. it was a while ago but i specifically remember them comparing my car to the same trim/similarly equipped vehicle to find the number that they would eventually go with.

[turbotrip]

you can definitely negotiate the amount with meloche monnex

[ExtraSlow]

I had a write off with meloche and they offered me a "market" value for the car that was well above that similar cars were selling for at the time. I took the money with no negotiating.

[94boosted]

Originally posted by Weapon_R
Has anyone had to deal with the claims adjuster through Meloche Monnex? I'm wondering how they value a vehicle that has been declared a total loss.

Do they take the blackbook value or the market value? Is there anything I can do to negotiate that number with them?

Buddy of mine, fellow beyond member that goes by the screen name Lt247 had one hell of a tough time getting a fair amount of money from Meloche Monnex when someone slammed into his car when he wasn't even in it and ended up being a write off. It took him over a year and a lawyer to get money from them. :guns:

[DelSoln]

They offered me fair market value. If you don't think it's fair just bring up examples with similar kms and condition.

[Tik-Tok]

Originally posted by 94boosted


Buddy of mine, fellow beyond member that goes by the screen name Lt247 had one hell of a tough time getting a fair amount of money from Meloche Monnex when someone slammed into his car when he wasn't even in it and ended up being a write off. It took him over a year and a lawyer to get money from them. :guns:

The only people I've ever heard of having a bad time, are people who have modded their cars, and NOT told the insurance company. Was this your friends case?

[whiskas]

Meloche offered me a very fair price for my stolen car. They do give you the option of negotiating, or getting it reappraised, but to be honest there was no need to.

[Sorath]

Mick don't worry. Even if Meloche Monnex is gonna be cheap which they aren't. Ur covered under the Honda lease gap insurance

[94boosted]

Originally posted by Tik-Tok


The only people I've ever heard of having a bad time, are people who have modded their cars, and NOT told the insurance company. Was this your friends case?

He had just bought the car a few months before the incident and it was very lightly modded, all he added to the car was a new Head Unit. It was a Skyline however it was the cleanest GTR I have ever seen they offered him only about half of what he paid for it. If I remember correctly he even had it appraised after the accident and they wouldn't even offer close to what it was appraised at. So he got a lawyer ivolved and after alot of back and forth with Meloche Monnex and about a year of negotiations they finally settled on a payout, which was still less than the car was worth but he was just fed up with them.

Yes I know this was a JDM car and it was 15 years old at the time but none the less it was his baby. And because of this incident I have a very bad opinion of Meloche Monnex.

[hampstor]

Generally it's not the adjuster - it's the appraiser who will determine the ACV on your car. This is based on the condition of the car before the accident, given current marketing conditions.

They will use the red book, gold book as well as local and national listings. You'll find that some cars will depreciate faster in certain regions - i've found that in the GTA, japanese imports depreciate more than in Vancouver. They will not use the blackbook as the blackbook is prices for wholesalers and dealers.

When they make you an offer, if you believe it's not fair, pull some listings across Canada and present them to the appraiser.

If you still don't agree, you can have an independent appraiser determine the ACV of your car. You can't do this until there has been a specific demand in writing and after the proof of loss has been delivered tho (this process is outlined in the Insurance Act).

If you have an adjuster trying to determine ACV on your car, request an appraiser.