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Old 11-20-2013, 06:36 PM
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Autosource - for determing total loss value

I heard from my insurance company this afternoon and they finally determined they would declare my '12 GC Overland a total loss. When I asked if they used KBB or NADA to determine settlement amount - they said no.
They use a company called Autosource that polls like kind year/make & model and locates sales and match it to a zip code to determine what the vehicle worth is.

Has anyone heard of or had to use Autosource? When I googled it, I came up with this site:

http://www.audanet.us/documents/Xpert_Autosource.pdf

Even if this isn't the correct web site, it seems that is how they operate on a huge database of sold vehicles. I am concerned about not getting true market value or ACV for my Jeep.

Please comment or steer me in the right direction & thanks in advance for any help.
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Old 11-20-2013, 08:09 PM
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Re: Autosource - for determing total loss value

Hit some local lots. Get some comparables.......price a similar jeep to purchase.

When insurance makes an offer you will know if yhat compares to local market.

You can push back some on them. They shoukd be ggiving you enough to replace your loss.
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Old 11-20-2013, 08:15 PM
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Re: Autosource - for determing total loss value

Thanks Rob.
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Old 11-20-2013, 10:32 PM
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Re: Autosource - for determing total loss value

Good luck.

Keep digging about your rights.
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Old 11-20-2013, 11:13 PM
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Re: Autosource - for determing total loss value

Make sure they compare to vehicles of the correct trim level. Using that autosource baloney StateFarm tried to base my total loss payment on 3 Magnum SXT's with no options...mine was a fully optioned R/T. I laughed off their first offer.
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Old 11-21-2013, 08:11 AM
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Re: Autosource - for determing total loss value

Edit - ADP Claims Service is now owned by Solera Holdings



Autosource is a division of ADP. Many states (I worked in NY) have approved what they refer to as Market Survey as a method of determining values. Of the 2 companies that were available in NY, Autosource was much better for the customer.

ADP, which is better known as a company that handles payrolls, also handles other transactions for businesses, including sales processing. That's one method they gather actual selling prices. I can't be sure they still do, but they used to have people on the ground visiting car lots to gather data. I confirmed with dealers at the time that this was true.

Typically, companies that use ADP also use their estimating system. These systems can be programmed with the state's total loss threshold so as the adjuster writes the estimate he/she is alerted when the threshold is met.

One feature that was included for free to the customer was a free buying service once the claim was settled.

Depending on your state, if you can't find a 'similar car' for the amount offered, the insurance company may owe you more. Of course we would have customers who were paid, as example, $11,000 and would call and say they found a car but it was $12,000. We would check it out and find that the sign in the windshield said $12,000, but the dealer already told the customer he would take $10,000, because that's all the insurance company gave them.

There are three sides to every story.
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Old 11-21-2013, 11:25 AM
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Re: Autosource - for determing total loss value

Very good comments above....

I just dealt with State Farm 2 weeks ago when my other car was declared a total loss and my only piece of advice is NEGOTIATE. I still would rather have my car back, but I did get them up several thousands of $$$$ by sending in comparable vehicles for sale. The State Farm rep I spoke with said they used NADA values though.
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Old 11-23-2013, 09:57 AM
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Re: Autosource - for determing total loss value

Quote:
Originally Posted by bill_de View Post
Edit - ADP Claims Service is now owned by Solera Holdings

Autosource is a division of ADP. Many states (I worked in NY) have approved what they refer to as Market Survey as a method of determining values. Of the 2 companies that were available in NY, Autosource was much better for the customer.

ADP, which is better known as a company that handles payrolls, also handles other transactions for businesses, including sales processing. That's one method they gather actual selling prices. I can't be sure they still do, but they used to have people on the ground visiting car lots to gather data. I confirmed with dealers at the time that this was true.

Typically, companies that use ADP also use their estimating system. These systems can be programmed with the state's total loss threshold so as the adjuster writes the estimate he/she is alerted when the threshold is met.

One feature that was included for free to the customer was a free buying service once the claim was settled.

Depending on your state, if you can't find a 'similar car' for the amount offered, the insurance company may owe you more. Of course we would have customers who were paid, as example, $11,000 and would call and say they found a car but it was $12,000. We would check it out and find that the sign in the windshield said $12,000, but the dealer already told the customer he would take $10,000, because that's all the insurance company gave them.

There are three sides to every story.
Bill - thanks. I was doing research with a friend and found the Solera Holdings connection. They have their hands in all facets of the "pie".

From Crunchbase: "Solera Holdings is a global automotive claims solutions provider focused on innovation and improvement for the vehicle claims processing industry, including insurers, repair collision facilities, and automotive parts recyclers"
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Old 11-24-2013, 12:49 PM
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make sure they physically inspect your vehicle adjusting for new tires, any recent repaires and maintenance. The problem i had with my totoaled vehicle was that they told me that my lifetime powertrain warantee was worth nothing. Plus i had a signficantly low mileage vehicle. They will also take off about 500 for reconditioning that needs to be done to sell the car. Make sure the descritipon of the car matches and nothing like a premium stereo or steering wheel radio controls are not left off. When they valued my car they left off the trailer hitch, wiring, premium sound system and it was hard to value a vehicle with a unique combination of options (everything that was offered on that model)

Now i have a 2014 overland 4x4 with the advance package and really enjoying it. The automatic suspension takes a little getting sed to and enjoying never using my key fob. Stays in the pocket.
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Old 11-24-2013, 01:10 PM
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Re: Autosource - for determing total loss value

Quote:
Originally Posted by emok View Post
make sure they physically inspect your vehicle adjusting for new tires, any recent repaires and maintenance. The problem i had with my totoaled vehicle was that they told me that my lifetime powertrain warantee was worth nothing. Plus i had a signficantly low mileage vehicle. They will also take off about 500 for reconditioning that needs to be done to sell the car. Make sure the descritipon of the car matches and nothing like a premium stereo or steering wheel radio controls are not left off. When they valued my car they left off the trailer hitch, wiring, premium sound system and it was hard to value a vehicle with a unique combination of options (everything that was offered on that model)

Now i have a 2014 overland 4x4 with the advance package and really enjoying it. The automatic suspension takes a little getting sed to and enjoying never using my key fob. Stays in the pocket.
Excellent advise on making sure the options and conditioning is done correctly. As for deductions for conditioning, it depends on the method used to evaluate the car in the first place.

For example, the NADA book that was approved for use by insurance companies in NY (and many states) was different tan the one you found in your local library. It didn't have 'condition categories'. It valued a car as if it was ready for resale on a dealer's lot, and stated that deductions should be made for reconditioning. So, their value assumed good brakes. If a car had bad brakes, they would have to be replaced before a customer would buy a car. So, they don't add value in that case.

However, if the method used is market survey, which includes private sales, less, if anything, would be deducted. That's because the value is based on the typical car on the road, not one already reconditioned for sale. In that case, new brakes might add value. And, in spite of some folks insisting, it doesn't mean a 2 year old brake job with 20,000 miles on it.

As for warranties, they typically are not covered by your auto insurance. Auto insurance covers the physical car. The warranty is a contract, not part of the car. Some policies actually explain that in the fine print.

However, and there is always a however, if you are not collecting from your own policy (contract), but under the liability coverage of an at fault party, you might be able to recover something for a non transferable warranty. That's because the other party's policy isn't covering your car. It is covering 'any financial loss' caused by the at fault party.

Nothing is cut and dry. The same types of cases heard by two different judges may have totally different outcomes.
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Old 11-24-2013, 02:19 PM
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Re: Autosource - for determing total loss value

Do your own research of comparables in the area and use NADA, KBB and Black Book if it applies. These companies have called me in the past but they never provide good information. What I mean by that is that they'll give me year, make, model and miles and expect me to give them a market value. They never have a VIN to confirm equipment. There's no description of the vehicle. Aftermarket equipment is never known.
The X package Grand is a perfect example without a VIN. It's a $ 6,000 option from the factory but no add in any of the books. They would tell me it's a "Laredo" and not a "Laredo X", wholly undervaluing the vehicle.
I've chosen to not help companies like this and simply tell them I cannot help them without a VIN.
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Old 11-24-2013, 03:32 PM
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actually if you are not at fault you can collect from either company. Both companies totaled my car but my company was better to work with and was willing to adjust for conditions, new tires and mileage better. They will get a check from the other company sooner or later. Not my fault but dealt with people i have worked with for years not other company. They waved e
deductable since not my fault.
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