Iowa-2020 Honda CRV EX AWD. 45,000 miles. $1,000 comp deductible.
$22,110 my valuation (KBB-Good). $15,441.62 repair costs approved to proceed as a repair by State Farm as long as when the insurance calls the body shop back in a couple of days they don’t believe they will have any further issues past the estimate costs. Body shop estimates at least 3 weeks of service needed. The claims team said they are using CCC one and can’t disclose any other details unless the vehicle is considered totaled.
My question is should I argue that this much damage will cause future issues with the valuation of the vehicle? What would be my best route financially? My lien remaining on the vehicle is around $12,600. I unfortunately do not have rental coverage but have a spare vehicle I can drive. Thanks for any input/advice. The vehicle is very sound mechanically and interior is cosmetically clean.
The Body Shop quoted all OEM parts including front windshield.
Posted by Honest-Ad-3316
2 Comments
Is all the damage body cosmetic related only?
As a former SF adjuster – Your policy covers LKQ/Recycled parts, so if the shop you picked is not a Select Service (preferred) shop, then you may be out of pocket for the difference between the OEM parts that were quoted and the cost of Like-Kind-Quality/Recycled parts.
As for any issue with the valuation of the vehicle, from a retail standpoint, there’d be no change in valuation, but in a private-party’s eye, they don’t care. However, Iowa does not allow for first-party diminished value, so if you tried to get any, SF would immediately shoot you down.
Also, KBB isn’t going to give you an accurate valuation of the vehicle from an insurance standpoint, as it’s meant to be a pricing guide for private-party sales. Using the NADAGuides (now JDPower car value guide), the 2020 CRV EX AWD with 45k miles comes in at 19,400 for average trade-in value. If SF is using something similar to price out your damages, you’re coming in at about 80% of your vehicles value for damages, which puts you right about in the TL threshold.
Chances are though, SF is going to write for less due to the LKQ parts mentioned earlier. They may also write to try and REPAIR versus REPLACE, which will also save some money. It’s then between you and your shop to figure out what to do next. They can submit supplements, but if SF already accounted for the damages that the shop submits for, then you’re getting no extra money and are on the hook for whatever SF didn’t pay.
TL;DR – No Diminished Value/change in valuation if repairs completed, Car teeters on the TL threshold, You may receive less than shop requests from SF because of the policy stating they won’t cover OEM (except under special circumstances i.e BRAND NEW [2026] car)