Got an original 2006 E350 4matic with 194,000 miles in excellent condition until a recent collision with a small concrete parking bump. Estimated repairs are about $3,700 and my insurance company said it is a total loss... Their out of pocket is going to be $2,700 after my deductable. The insurance company said the total loss value is under $2,000. I can not believe my beloved car is worth such small amount of money. Looking for recommendations or guidance from anyone with expertise. Thanks

 

According to Nadaguide.com, book value is about 4k which is full retail. You can always buy the car back and see if you can get it fixed for the amount they give you minus the value of the car. If they're only valuing it at 2k, they might have the wrong model or have not picked the right condition of the car. You would have to fight to get more money. Don't accept the settlement that they offer you. They're under pressure to close out a case so the longer you hold out, the more they will offer you. Ask them for an equivalent car with the same mileage/condition for the amount they're offering you. You might be able to find a body shop who will do it cheaper or not the full extent the insurance wants to do it but then you end up with a salvage car. There's a few options on nadaguide which will increase the value of your car if you have them like navigation, harman kardon stereo, sport package, etc.

 

Do you have any pictures of your car? Interior/exterior? Your idea of excellent condition may not be everyone else's opinion. Anyhow, that car in good condition running/driving is worth about $3500 retail, maybe less with the high mileage.

 

A couple things to hopefully help:
First of all, never, ever, ever! take your insurance companies first offer. As the other post said, if you have pictures that show the condition of the vehicle and maintenance records that will help.
Second, send a letter or email (or even better, have your lawyer) asking about arbitration provisions.. this tends to light a fire and signals you will not be run over by them and will likely bump it up the depth chart to someone who can actually make a decision on your settlement.
Third (and unfortunately): as the other poster said; blue book runs from about 2-4k, being an 06 with known defective parts that incur high repair cost and high mileage will hurt that.

What did you damage? if it is just cosmetic or easily fixable, i would take your insurance companies money, buy used (or new and upgrade) and do the work, probably even make out a couple thousand up.

Either way, dont give in to the insurance company; the longer you fight them, the more you will get!
Good luck!

 

Because of this, and people upgrading to the facelift style, there's a pretty good supply of used pre-facelift body parts out there in salvage yards. Did you just run over a wheel stop and scrape up the front bumper, or is there more damage than that? The estimate seems pretty steep for just a bumper and splash shields, even if the shop was quoting new parts. You could always take it to a trusted body shop and get your own estimate done.

Another thing to consider is that this will most likely be rated as an at-fault accident and cause a premium increase. If you haven't formally filed the claim yet, you should talk to your agent and see if the increase in premium will be more than the claim payout.