Nationwide Corporation Complaint - Nationwide is not on the consumer's side - Totaled our auto and their valuation much too low for replacement.
Totaled our auto and their valuation much too low for replacement. - Complaint
DES MOINES, IOWA -- Tuesday, Aug 10,2010 a Nationwide insured hit our car in the rear while it was stopped. The car was not drivable and it was after 5 pm so it was towed to a storage lot. Rental car was not furnished until Friday. The following Monday or Tuesday, the claims representative for Nationwide calls and says our car is totaled and commented about how clean the Nationwide adjuster said it was. His first request was that I call and release the car from storage so he can have it towed to Nationwide's lot. I agreed to that.
The next order of business is to offer me $3849.60 for our vehicle and said it would cost around $4200 to fix. We bought this 2000 Accord EX V6 new in Sept. of 2000 and it has been cared for which attests to the 381,000 miles on it. It has brand new tires, brakes, alignment, and less than 20,000 miles on timing belt change. Needless to say, I thought he was joking. He was not.
I explained to him about the vehicle and he starts about the mileage (and hasn't let go of that) and valuation by the company they use. I of course told him that was ridiculous. Also that I was getting angry about this offer and we shouldn't talk right then, to call back tomorrow.
He called back the next day and upped his offer to just under $4500. I had been on the internet pricing like vehicles and using on line pricing calculators found the value to be around $6500.
NADA = $7075
Edmunds = $6425
Kelly Blue Book = $6530
Auto Trader = $5500-$9000/ aver =$7900
Lemon Free.com/ national avg.=$6741, <200 miles from me = $6598, 184 EX's < $10,000, only 28 EX's < $5000.
After I refused this offer, representative said the rental car would only be paid through the next Wed. I said that would be fine. We didn't really need it anyway, we had gotten by without it the 2 days before they had arranged for one.
I had found an identical vehicle in GA for $6900 and emailed the representative on Thursday that I would take $5500 then and turn the rental car in on Friday and go buy the car on the weekend. He declined this offer and reiterated the rental car expense would not be paid after Wednesday. After Friday I withdrew my offer since the car would be sold over the weekend.
Status quo had been maintained until last week I was told by representative that they could no longer store our vehicle and would need a place to tow it. Yet another strong arm tactic to get us to settle. I gave him a friend's address that agreed to keep it for us temporarily and it was towed there on 10/7/10.
The appraisals Nationwide uses are way off from the aforementioned companies. The 1st dealer on their appraisal list was quoted a "take price" of $5614 that didn't have the options our car has. Then the appraisal company starts deducting from that price. The dealer was asking $6,990 for a 2000 Accord EX V6 that he had on the lot. He didn't have the one that was on the list. The 2nd dealer on the appraisal list didn't have one since the appraisal was given on 6/3 on a vehicle that didn't have the same options and our accident was on 8/10. The 3rd one was a dealer in Huntsville which is out of our area anyway and their car didn't have our options either.
Nationwide leaves me no alternative but to take them to court and I will have my day in court. I am going to do all I can to expose Nationwide's claims practices and their appraisals which in my opinion are bad faith examples.
Nationwide or any other insurance company is not going to run over me and my family. This could have been settled easily if they only had tried to be fair instead of greedy.