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yeah but who are they to decide what I will be doing with the cash? they decide what they do with my cash after i pay them. if you read my most recent post about cars that are write offs you'd understand why im expecting to get more for my cash settlement. icbc's objective is to pay the least amount and get rid of the file as soon as they can. they are a bunch of cocksockers i tell ya |
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Just tell the adjuster you're only willing to take the cash option if it's calculated on 1600 repair cost. At the end of the day, ICBC will choose the most cost-effective route for themselves. They can either pay about 1600 to a shop or save some money and pay you out a proportion of it (70%?). It wouldn't make any business sense for them to spend more just because they don't want you to benefit. |
Your dad used to be in the business right ? I'm sure he has a connection or two. Take the car to his buddy, let him charge icbc $1600 for "repairs", he keeps a few hundred for his troubles and you walk away happy. Posted via RS Mobile |
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but all in all that being said if they quoted me 1600 they shouldnt be settling me with only 50% of the original quote. |
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Thanks for some helpful input. Thats just the sort of answer i was looking for. So 70% is the rate they usually pay out for settlements? most of the people in this thread dont understand..if they can quote me and pay 1600$ for repairs then why cant they settle me for 1500$ or 1400$.. im just figuring out ways other then being dicked around and only getting 50% of the quote. |
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Did your dad used to paint? If not is the painter at his shop going to work on ur car for free aswell? How about paint materials? does that come free too? Everything cost money, and ive worked at several ICBC certified shops to know that it costs money to fix shit, and boss's arent gonna just let employees work on family members cars for next to nothing and ICBC estimates u the bare minimum which isnt the actual cost to even repair the car, and then only gives u a percentage of how much the repair is. Its Called "Cash Settlement in Lieu of Repair" i believe |
When taking the cash settlement, it becomes a negotiation between you and your estimator and/or adjustor. The amount you get depends on how good of a negotiator you are. For example, obviously if you tell them you can get it fixed cheap yourself, they will offer you less. Typically settlements end up at 70 - 75% of the total estimated repair cost. As for courtesy car charges, ICBC pays $30/day if your claim allows it. |
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i know icbc estimates at bare minimum cause they dont know if there is frame damage or anything that is beneath the surface. that is why im figuring out ways to get past them paying me less then what they quoted me. there is ways, it can be done. and there is always a reason why they quoted you that specific number in the first place. and there is a reason why they want to settle less. |
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so what are some keypoints that would suggest that or help me make a better negotiation. Yes typically settlements would end up at 70-75% but if there objective is to pay less in the end why not settle me for 80% or 90%? its still cheaper for them right |
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Wow why would i want to do that? you must be stupid to put any legitimate business in that type of position. EDIT. and if he gets caught for scamming icbc a few hundred dollars would not cover his "troubles" |
you're gonna have to take a lost, there's no way you'll get cash what they quoted you for. What's in it for them? you gota think of it that way..unless it's cheaper for them then it's okay.. You can't use the excuse of buying insurance from them annually and expect a return. I'ts not gonna hapen..that's the price you pay for owning a vehical..if everyone is doing this do you think they'll be in business..you pay for insurance for situation like this... just take it to your dad's work place atleast you know what's done is right and who knows maybe he'll get some commission.. |
lol i don't see why you don't just take it to your dads shop and just ring up the bill if you want the cash that desperately. and its only 1600 worth of repairs which is nothing, i would see it being more worth while of taking a settlement if it was at least a couple grand. |
ICBC's mandate is to fix your car. Not simply pay the least amount of cash. They are saying they can fix your car for $1600 using ICBC rates. For private repairs, they know typically the costs would be higher (cash deals excluded). That's why ICBC pays less on settlements-- to discourage it. If everyone could choose 100% cash, the current system in place would fall apart. If you're not happy with the cash settlement being offered, then you'll need to demonstrate to them 1) why it makes more sense for you to fix it yourself and 2) why you need more than they are offering. |
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Icbc only pays a certain percentage on cash settlement Posted via RS Mobile |
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I think its clearly you that don't understand the process of how ICBC deal with claims. As many members above tried to explain it to you, there's no easy way out. Either: a) Take your car to an ICBC shop and get the repair fully done + paid by ICBC, or b) Suck it up and take the $1100 settlement. Think of it this way. If you won the Lottery's grand prize house that worth $2.5mil.... If you decide not to take House, and go with the Cash route, will you get the full $2.5 mil in cash? No..! |
Revscene and helpful dont really go hand in hand |
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I've relied on RS for several questions/help and have been greeted with awesome replies. It is only when you try to underhand the system that you stop getting helpful responses. I'm not saying the OP is trying to underhand the system but he is going about this all wrong. The facts are simple. ICBC is here to cover repairs on vehicles and not to pay out a cash settlement. If it goes to a shop, ICBC will cover the entire bill. If not, ICBC will settle for a sum of what it would have paid. It doesn't make sense for ICBC to pay you the cash sum of what it would cost to repair because that's not its job. ICBC knows you could probably get it done cheaper yourself but realizes that the extra money you would pocket will hurt ICBC's bottom line. This is why you'll either go through ICBC completely and have everything covered or try to make a profit but at a disadvantage. The idea is for ICBC to not be screwed and you to make a financial gain from a claim. |
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ICBC insures your car, not your bank account. Posted via RS Mobile |
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