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CCC Valuescope Total Loss Valuations

 
 
kynth
 
Reply Sat 22 Jul, 2006 08:46 am
Has anyone from Alabama been subject to a CCC Valuescope Total loss valuation?

Hi, I am in Huntsville, Alabama and my vehicle was involved in an accident. the vehicle was rear ended and the Ins. adj. from Farmers Insurance Group determined the vehicle totaled. A offer of settlement was made based on Valuations from CCC Valuescope. The value was well below the retail values listed by NADA KBB and local dealer retail.
Following is Alabama Law
ALABAMA DEPARTMENT OF REVENUE MOTOR VEHICLE DIVISION

810-5-41-.05 Salvage - Determining Fair Retail Values for Total Loss Vehicles.

When a monetary settlement is paid on a damaged vehicle and the damage to
the vehicle is greater than or equal to 75 percent of the fair retail value
of the vehicle prior to the damage, the vehicle shall be considered to be a
total loss. For the purpose of determining the fair retail value of a total
loss vehicle, at time of loss, information shall be obtained from a current
edition, including automated data base, of a nationally recognized
compilation of retail values, such as, but not limited to the National
Automobile Dealers Association's Used Car Guide, Southeastern Edition and
National Market Reports, Inc., provided the publication or automated data
base presents a fair and representative retail value of the vehicle within
the state of Alabama. (Authority: Sections 32-8-1 through 32-8-88)
(Adopted through APA November 22, 1996; amended June 7, 2000; amended
February 28, 2002)

The FIG rep claims that the vehicle valuation is fair, however all data show reductions in value fro 30-50% from NADA, KBB and local dealers.

Has anyone from Alabama been subject to from CCC Valuescope
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JACK IN SC
 
  1  
Reply Thu 21 Dec, 2006 08:42 pm
UN FAIR TOTAL LOSS AUTO SETTLEMENTS
I LIVE IN SC AND ARE DEALING W/ THIS CCC VALUESCOPE AND AM FINDING OUT ABOUT THIER UN FAIR TRADE PRACTICES FROM WHAT I READ HERE AND FROM ANOTHER ADJUSTER .....
NEED HELP IN SC
sjtaylor
 
  1  
Reply Fri 19 Jan, 2007 04:53 pm
CCC Valuescope total loss
I am in AR and I have been dealing with the same thing. My attorney told me to find another vehicle as close to mine as I could find and direct the insurance co. (AIG) to go buy it. I searched ebay and other online auto sales and found that my vehicle that they totaled for 4100.oo couldn't be touched for less than 6000 and the average price was almost 10,000.oo I faxed copies to the claims manager and after 18 months I got the money I needed to repair my vehicle even though they still denied the true value. My experience with these discount insurance companies has always been sour. Farm Bureau has been much better for me. ST
0 Replies
 
larrysanders
 
  1  
Reply Fri 9 Mar, 2007 02:03 pm
ccc valuescope
I am getting ready do deal with this company, any help would be helpful. I had $18000 worth of damage (car was repaired) on 07 camry with list od $22500. larry
0 Replies
 
Jeffro1122
 
  1  
Reply Wed 28 Mar, 2007 12:29 pm
I am a licensed PD adjust from Philadelphia area and have insight on CCC total loss valuations.


PA State law mandates that when a vehicle is deemed a total loss a total loss valuation must be prepared. In PA and I believe most other states this figure must be representative of the average of two figures by sources approved by the Insurance Commissioner. At my company we use NADA and CCC ValueScope. These figures must be averaged out.

Example CCC ValueScope $4500, NADA $4800 we would pay you $4650.00

Now there are some total loss programs that will automatically compare to NADA values when the total loss amount is shown.

Insurance companies can also get the dealer quote method as a source where they call dealerships and get prices of like vehicles, or they can straight give a car of the same condition, make, model, year.
Jeffro1122
 
  1  
Reply Wed 28 Mar, 2007 12:34 pm
Re: ccc valuescope
larrysanders wrote:
I am getting ready do deal with this company, any help would be helpful. I had $18000 worth of damage (car was repaired) on 07 camry with list od $22500. larry


Your case may be a little different. My guess is that with $18000 worth of repairs close to 1/3 of the damage wasn't seen until inital repairs had already begun. Damage that can be seen at the time of the estimate must be supplemented. If on the first inspection damage only totaled $12,000 repairs would have been ok'd and work would be started. Once they begun to take panels off and find more damage supplements would be written and further approved brinning the total to $18000.

If the itial estimate was written for $18000 I would get help from an lawyer as the car should have been a total loss.
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chknwng4u
 
  1  
Reply Sat 1 Sep, 2007 09:00 pm
ccc Valuescope Total Loss Valuations
Could anyone help me out I had a Cadillac 2002 Eldorado Commemorative series car that has been totalled and the hartford insurance using the formula from CCC says my car is worth only 21,350.00 after I paid 30,000.00 for it 2 years ago and kept the mileage to 10,000 in the two years I owned it everyone of the cars they are using to formulate it from traderonline is around the 29,000.00 price but they found one for 25,000.00 and it has 50,000.00 miles on it as they have informed me that there is no book on a unique collectors series car like mine I bought the car and it was in pristine condition and they seem to think I am being too greedy but when I asked for insurance through AARP they hooked me up with Hartford who said it would be insured for a loss of 31,400.00 now they say they never said such and of course i did not get it in writing...and we all know an attorney eats up your car allowance money any thoughts on what to do anyone? does anybody know what these cars are ...... thanks so very much I am all ears ....Doug in Missouri
0 Replies
 
nofool
 
  1  
Reply Thu 27 Sep, 2007 09:42 pm
CCC Valuescope - methods of valuations
Check out the following link. VERY insightful.

www.stephencryanpc.com/CM/Custom/TOCArticles.asp

Just a sample of CCC's valuation method:
CCC's own documents also reflect that they determine the fair market value of a vehicle in a "backwards" fashion. Specifically, the documents state that CCC first determines a predetermined range of value for the given vehicle and then, after that range has been determined, the computer then searches for comps which support the range. In other words, the final value isn't determined by all available comps, but only by those comps which fall within CCC's predetermined valuation range. With CCC, the comps aren't determining the values -- the values are determining the comps.
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babyt899
 
  1  
Reply Thu 11 Oct, 2007 08:53 pm
stolen vehicle
My vehicle was stolen on Monday and my insurance company (USAA) is using CCC Valuescope. Reading these posts, I'm worried. What happens if they don't pay off my loan? When I do a search for that vehicle in my area it's close to or at my payoff.
0 Replies
 
beth ann
 
  1  
Reply Tue 11 Dec, 2007 02:15 am
they want to total my scratched expedition
I have USAA and sent my truck in for what I thought were a few scratches and a flat tire. Now USAA is tel me they are totalling it. Ive only had the expedition for a few months. After a couple thousand down and a few payments what the want to total it over and what I will still owe is about the same. What do I do ?
0 Replies
 
JPMcGlade
 
  1  
Reply Wed 12 Mar, 2008 08:24 am
CCC Valuescope Total Loss Valuations
I too have USAA as my insurer while I'm stationed in the U.K. My '95 Toyota 4 Runner was stolen, recovered, then considered a total loss due to vandalism. After doing my own research (Consumer Guide) I have found ten vehicles which match my stolen vehicle with for an average price of $6,062.00. Further research through Kelley Blue Book, NADA, and MSN Autos lists '95 4RNR's with an average value of $5948.00. My insurance adjuster just rang and said according to USAA, who uses CCC Valuescope as their sole valuation, my vehicle is only worth $4975.00; $1030.00 less than the average of the research done above. If anyone has an idea in which direction to go to achieve $6K for my 4RNR, I would greatly appreciate any help.
0 Replies
 
jfeagins
 
  1  
Reply Thu 17 Jul, 2008 01:51 pm
USAA Insurance isn't worth the paper it's written on!!!!
I, too, am(was) a member of USAA. Suffered a total loss of 35' 5th wheel RV toyhauler during a tornado. I found an exact replacement on the I-net for $23,500. USAA claims ccc valuecrap is coming up with a fair market value of only $17,746!!!! Incredible!

What I thought was FULL coverage with a $500.00 deductible has turned into a $5,754.00 deductible.

Needless to say, I'm switching my insurance company for all my vehicles and toys. NEVER again will I pay USAA a single dime. Nor will I ever pass on an opportunity to give negative word-of-mouth for them. I will say this: When the times turn tough, a good insurance company will shine. USAA is not a shining company. Sad
dewayne
 
  1  
Reply Wed 24 Feb, 2010 06:50 am
@jfeagins,
I'm two weeks in on a claim with Geico who uses CCC Valuescope. All these posts have me worried and wondering how many thousands I'm gonna loose if they decide to total my car. like I said two weeks have gone by and I don't know any more than I did the day it happened. IMO Geico is not what many people think it is. You don't know how good or bad your ins co. is until you have to make a claim You get what you pay for with Geico.

0 Replies
 
dianatroglin
 
  1  
Reply Sat 20 Mar, 2010 05:08 pm
@JACK IN SC,
I live in Illinois and have delt with American Heartland Insurace. This adjuster used the CCC Valuescope and gave me a check for 350.00 for total loss on a 1989 crewcab 4 wheel drive 4 door, with bench seats, all electric windows and it was in real good condition until it got rear ended by their insured. He rear ended a trailer that was attached to the truck and wrecked my truck also. NADA said truck was worth 3,100.00 to replace the truck it would cost around 4,000.00. Talk about being railroaded by an insurance company. Needless to say I am getting a lawyer. They can take that CCC Valuescope and shove it! That is what they said they used to come up with the amount they would pay for my loss. There should be a law against these type of insurance companies.
0 Replies
 
SteveSalesman
 
  1  
Reply Mon 19 Apr, 2010 11:21 am
The thing about it is though that NADA ,KBB both state that Retail is a starting point for negotiation. There value includes profit, commission, costs of doing business and both state that they should not be used for insurance value. Dealers and banks all know that dealers NADA and KBB are overpriced that is why they invented GAP insurance. Ask your dealer, bank or attorney about GAP insurance. Insurance is not required to pay retail becuase retail is not always consistant based on how good of a negotiator you are. Also banks will roll over your previous payoff on your trade in on a new loan. Insurance companys won't and shouldn't have to pay for that. I would prefer to keep my insurance cost down. CCC is a bit low but Retail is a lot high. I sale new/used cars. If you want to know fair value look at Kelly Blue Book Private party good condition for your vehicle. That is actual fair value. Not Retail and probably not CCC
0 Replies
 
CLeaman
 
  1  
Reply Mon 10 May, 2010 04:39 pm
@JACK IN SC,
I am in exactly the same situation in SC. ANy help would be GREATLY appreciated.

0 Replies
 
caryfaith
 
  1  
Reply Sun 16 Jan, 2011 08:13 pm
@Jeffro1122,
the problem is that CCCvaluescope when u look closely never list any options on your VIN. When they run your VIN, it comes back with standard options. And I am Dealing with Cameron Ins, who upon demand provided me with 8 comps they used, which consisited of craigslist, Autotrader and CCC, lowest dollar on a 02BMW x5. 3.0 6 cyl 5 Sp, n half the phone numbers could not be reached..
PROBLEM:::::: I have a 02BMW X 5 4.4 8 cyl inline, with all the extras. Seriously how do you provide 8 comps and every single one of them a different model and engine size... NOt fair .... How does one fight this. I have simply said I refuse their offer. Two months since car was stolen.
Any suggestions would be greatly appreciated./
toad 69
 
  1  
Reply Mon 27 Jun, 2011 11:50 am
@caryfaith,
Questions to explain the methods you insurance company use to achieve The Value of a Totaled Vehicle ( send to your insurance that uses CCC valuscope). you'll have to change the question to mach your car.

(1) Who was the individual who actually prepared this report and what is there direct dial phone number? __________________________________________________________

(2) Since the total loss report would require the author to be present before it could be entered as evidence in any court case, please provide the name, address and phone number of the person who authored the total loss evaluation so I may contact them._________________________________________________________________

(3) Who specifically identified the options in my vehicle and did an “option inventory” on my vehicle and the comparable vehicles? ________________________________________________________

(4) Have any of the comparable vehicles been involved in an accident or had any damaged history? ____________________________________________

(5) Did the insurer or the reporting company do a VIN Guard and ICB search on the comparable vehicles, and if not, why not?_______________________________

(6) What was the exact formula and methodology used to determine the 67% higher than typical vehicle mileage? __________________________________________

(7) What was the exact formulae and methodology used for determining the mileage deductions? _____________________________________________________

(8) You claim two of the vehicles are “inspected vehicles”. What is the name of the person who inspected those vehicles and how exactly can I get in touch with them to ask them questions regarding those inspections? ________________________________________________________

(9) Was there any actual inspection or the other 40 comparable cars and if so by whom? ______________________________________________________

(10) If more then one person looked at all of those cars, then how exactly is the value figured using so many different opinions to compare my vehicle ?___________________________________________________________

(11) If more then one person looked at all of these cars then how exactly is the value figured using so many opinions compared to my vehicle , and whose expert opinion doss the total loss evaluation reflect?____________________________

(12) When compiling the database used there were two forms used to list all vehicles found at dealers for sale. A “148 Form” and a “148E form”, “E” standing for “Exceptions.” 40% of the cars found at dealers for sale are eliminated from the database because they are too expensive and placed on the “148E” Form. Only the cars from the “148 Form” that only represents 60% of the cheapest cars available are entered into the total loss database of the system you used. Please explain in detail WHY a system that intentionally is created to only access 6 out of every ten cars found and based strictly on the lowest price could arrive at a fair and reasonable figure for the actual cash value (ACV) of my car?______________________________________________________________

(13) Please explain why the remainders of the cars from the “148E Form” are not used in the assessment of my truck’s value? ___________________________________________________________

(14) Why am I not entitled to what my car WILL bring based on the HIGHEST any truck like mine has sold for, not unlike an auction that does not sell the item to the “middle” bidder?_______________________________________________

(15) Why would I be required to accept an “average price” for my car when I could achieve a higher price in an actual sale? ___________________________

(16) The system you use is programmed to accept a “target price” from the user setting the range of vehicles that the system will attempt to find to match the predetermined price arbitrarily selected BEFORE the total loss evaluation. The system you used will select comparable vehicles that represent only 60% of the cheapest cars on the current market, so please explain;

(a) Who it was that set the “Target Price” that was entered into the total loss program to select the comparable trucks used and HOW exactly that Target Price was arrived at,
(b) Why the system is falsely presented as a method of “appraising my truck’s ACV for the purpose of settlement when in reality it is just a method of attempting to improperly prove a “Target Price” arbitrarily selected by you the insurer, and
(c) Was AIG/AIU insurance company aware or these potentially fraudulent acts? _________________________________________________________

(17)The Total loss report states that the base value as used on my vehicle was based on vehicles of the same year , so why then does the total loss report use cars from different years?________________________________________________

(18)Is it true that the total loss report process you used sets the value of the vehicle first, THEN finds comparable vehicles to match the value placed on my truck, if so, why would that not be unethical or illegal (bad faith)?_________________________________________________________
(19)Since the “take price” indicated in the report could be considered the wholesale price, what was the retail price for these same vehicles? ____________________________________________________

(20)What did these comparable vehicles actually sell for, and what proof or documentation do you have regarding there actual selling price._____________

good luck.





0 Replies
 
lisa64648
 
  1  
Reply Mon 12 Mar, 2012 03:30 pm
@kynth,
I am also dealing with the same thing in Arkansas the Kelly Blue Book value of my car is thousands more than what the CCC is offering. This is a scam and I dont know what to do. I think we need to file a class action suit against this company. I am dealing with Safeco their insured totaled my car on Feb 6 and I have been fighting settlement amount ever since.
0 Replies
 
Paulandjoy
 
  1  
Reply Wed 23 May, 2012 08:01 pm
s operaple. Does the state Insurance Commisioners ignore this money grubbing of the poor citizens of their state? I wiull bring it to their attention and to my legislators in Oklahoma, and congressional representatives to see if they care about the working poor that vote.
0 Replies
 
 

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