A fair deal by ICBC?
 

Long story short: Got into an accident a week ago when the roads were slippery and wet. Car lost traction and hit a parked truck on the side.

Front end damage on my 2003 Toyota Corolla CE, left side headlights need replacing, hood and front bumper as well. The front was pushed in a bit, could still drive fine, no over-heating, leaking fluids or anything not even balancing/alignment issues but they deemed it a total loss still.

Today after heading to the Claim Centre, they offered me $64xx + HST = $71xx for my 2003 Toyota Corolla CE. The Canadian Black Book average price is $6999(not sure if that's including the "HST" or not) and I wasn't sure if I wanted to accept the first offer, so I told him that and he went on Craigslist with his little laptop and searched for a similar model car and most of it had lower mileage then mine but they had it listed at $7000(average) before tax and he kept telling me "It's listed at $7000 but really? It's always OBO when you buy cars and you can probably knock it down to $6700/6800 easily"

Does their offer sound reasonable and should I take it or what should I do? The thing that worried me was he said "after looking at these ads, if you get a few ads of your car being worth more, I can just find these ones and I'm sure my manager would be the first one to knock your total-loss settlement amount down. Can he actually make it lower or was he just bluffing?

Thanks in Advance!

Edit: Some buy and sell: http://www.buysell.com/classifieds/R...Toyota+Corolla

You can get the car to a bodyshop to see how much to fix it. If you really have sentimental of the car.

6999 vs 7100 is only $100... return an 7069 and call it a day.

Your insurance rate will go up no matter what at this stage. You mind as well get a write off and go out large.

Not really sentimental value but just seeing if I can get more money on the write-off then what they offered.

You know what, as much as I dont care for ICBC, in my experience they are very fair when it comes to paying people out on total loses.... unless the vehicle is modified lol.

From what I looked into, I think their offer is pretty much bang on assuming your car is in good condition, things like how many KM are on your car can be a significant factor in the value.

I think you should take that money and buy an R32 and upgrade its turbo.

ICBC is pretty fair on settling total loss claims. They have better things to do with their time than argue back and forth over a settlement amount. I'm not arguing for or against ICBC, just in my experience with my customers for total loss claims, I've seen pretty fair settlements. The exception to the rule obviously is modded cars. More often than not, ICBC has no idea on actual cash value for JDM or extensively modified cars.

Yeah, I agree. They actually gave me more than usual because I had kept my car in such good condition. They tried to screw me in my settlement, however.

Opposite experience for me. Wrote off my black MR2 Turbo about 7 years ago. Their first offer was in the $3500 range and I had to argue back and forth for 2 weeks before I settled for $16,000 which is what it would've cost at the time to replace my car with a bone stock car. I took that money and imported another MR2 Turbo from the US for $12,000. Specs are identical to my black one other than the colour. A year ago, I was rear ended, over $5k damage. At that point, I was hoping the car was a write off but they said the car was worth $10,000 when the average value was about $7500. Long story short, they fixed the car and I now drive a MR2 Turbo with a big claim on it that won't stop rattling. I dunno how ICBC will say a car is worth $3k, then 5 years later, it's worth 10 even tho it's 5 years older with a lot more mileage.

he would be paying an arm and maybe a leg to insure it, especially after this write off..
so your just giving them half of that money back in insurace cost.. haahaa

A bit offtopic, but you wouldn't have happened to have crashed your corolla on 49th avenue, did you?


I saw a really similar crash about 2-3 weeks back.

icbc uses autocheck to do their market values for the cars. it's usually very fair and with the HST you get more than you would have gotten if you tried selling the car privately... i don't think you'll be able to get any more out of them...

its really up to you bro. the fact that there offering anything for ur car means its prolly not worth keeping it right. but it seems fair. esspecially if ur finding them for the same price anyway

lol how were you driving if you lost traction in a gutless FWD car?

.

If he can't handle a Corolla in the rain.........:rofl:
:D

they offered $4167 for my 95 integra gsr. i havent agree too it yet.

I dont know how fair autocheck really is...the lady sent me the report and none of the cars on it where at the dealers(most were for sale for 1 month+) but they just magically disappeared off the dealer lots/website :rolleyes: hhhmmm

in my situation they offered 7k i got em up to 9200 for 03 civic dx sedan

there is no fair deal by icbc ever