For those that had your TRX stolen or totaled, what did insurance do for you?

[Amerapex12]

I couldn't find another topic dedicated to this. I think it's a great topic. Both interesting and valuable.


I was always curious....how did insurance handle your replacement?
I know it depends on the insurance options that you had, but please give a quick summary of the following....

1.) what happened? Totaled? Stolen
2.) What kind of insurance? Did you have a "full replacement cost" add-on, etc? (Also post who it was through -- All State, State Farm, The General (lol), etc. This might help others on deciding who to go or not to go with.
3.) What did you PAY for your TRX
4.) What did insurance do/pay for?
5.) How much did you have to fight/prove/etc with insurance to get what you ended up getting.

My truck got stolen September 2nd 2022 here is what happened in my situation they didn't pay value based upon how we go about researching as a consumer they use this 3rd party source

 

[@JC]

My truck got stolen September 2nd 2022 here is what happened in my situation they didn't pay value based upon how we go about researching as a consumer they use this 3rd party source

Holy crap bro, you got F'd by your insurance on Condition (mileage was understandable), was your truck really in that poor of condition prior to the theft?

 

[Dudebro]

Holy crap bro, you got F'd by your insurance on Condition (mileage was understandable), was your truck really in that poor of condition prior to the theft?

Doesn't look like the adjusted the vehicle down at all based on condition. All of it said average.

 

[@JC]

Doesn't look like the adjusted the vehicle down at all based on condition. All of it said average.

Looked like a -$4k subtraction to me, did I misread it?

 

[NickyF25]

Looked like a -$4k subtraction to me, did I misread it?

Compared to the comps.

 

[@JC]

Compared to the comps.

based on condition

 

[Amerapex12]

Holy crap bro, you got F'd by your insurance on Condition (mileage was understandable), was your truck really in that poor of condition prior to the theft?

No it was pristine still and i had upgrades the 3rd party company says that they average out the values within a radius and come up with a payout differently then what is listed weather its less then 25 miles up to 25,000 miles

 

[Amerapex12]

Doesn't look like the adjusted the vehicle down at all based on condition. All of it said average.

correct averages

 

[@JC]

List Price $ 86,095 $ 85,949 $ 88,499
Options + $ 450 + $ 550 - $ 625
Mileage - $ 4,087 - $ 4,902 - $ 3,770
Condition¹ - $ 4,146 - $ 4,146 - $ 4,146
ACV - $ 78,312 $ 77,451 $ 79,958

¹The Condition Adjustment sets that
comparable vehicle to Average Private
condition, which the loss vehicle is also
compared to in the Vehicle Condition
section.

That's the part I'm looking at, so they find actual comps then they discount the comps down to some random "average condition" regardless of what condition the insured vehicle or the comparable vehicles are in. Why even bother faking comps then if they're just going to arbitrarily assign an "average private condition" value and wash their hands of it? The mileage equalization makes sense as the insured vehicle was about 17-20k more miles than the comps, the condition deduction does not. And they can't say it's because the condition is deprecated because of the additional mileage because they've already deducted for mileage separately. Something is fishy in Denmark.

 

[Amerapex12]

That's the part I'm looking at, so they find actual comps then they discount the comps down to some random "average condition" regardless of what condition the insured vehicle or the comparable vehicles are in. Why even bother faking comps then if they're just going to arbitrarily assign an "average private condition" value and wash their hands of it? The mileage equalization makes sense as the insured vehicle was about 17-20k more miles than the comps, the condition deduction does not. And they can't say it's because the condition is deprecated because of the additional mileage because they've already deducted for mileage separately. Something is fishy in Denmark.

i had that same argument and they just blew more smoke up my ass

 

[Amerapex12]

That's the part I'm looking at, so they find actual comps then they discount the comps down to some random "average condition" regardless of what condition the insured vehicle or the comparable vehicles are in. Why even bother faking comps then if they're just going to arbitrarily assign an "average private condition" value and wash their hands of it? The mileage equalization makes sense as the insured vehicle was about 17-20k more miles than the comps, the condition deduction does not. And they can't say it's because the condition is deprecated because of the additional mileage because they've already deducted for mileage separately. Something is fishy in Denmark.

buts that exactly what they were doing ....a predetermined valuation that undermines the consumer ..our insurances rates or premiums are high goes up but our claims or payouts dont equate to the costs of what we pay

 

[@JC]

i had that same argument and they just blew more smoke up my ass

I would have demanded an arbitration hearing at that point.

 

[Palmerosa]

I wrecked my fully loaded 2022 TRX with about 5,500 miles Monday and I’m pretty sure it’s totaled. We’re still waiting on the insurance co to make that call and see what they do from here. But I had over 15k in upgrades and the rep told me their new policy did NOT cover any aftermarket parts. So we’ll see what happens

 

[timinnd]

I wrecked my fully loaded 2022 TRX with about 5,500 miles Monday and I’m pretty sure it’s totaled. We’re still waiting on the insurance co to make that call and see what they do from here. But I had over 15k in upgrades and the rep told me their new policy did NOT cover any aftermarket parts. So we’ll see what happens

My first thought is....that's just..... bullshit.

I mean, their take will be "we base our rates on that VIN, that VIN includes "these" options".

And they would have a point, I guess.

But what's the solution? Have "add-on" insurance offered by insurance companies?
(I'm just making up the figures below)
up to $5,000 in upgrades = $203 more annually
$5001 to $10,000 in upgrades = $372 more annually
and so on and so on.

So yeah, my second thought, maybe it isn't bullshit.

With your 15k in upgrades, well, that's like another complete car. So why should they be expected to insure it for free.

Problem is, it's doubtful they don't offer any sort of add-on package for upgrades

 

[NicoleG98]

Hi all!!
My insurance payoff is finally here - after a month of waiting. The insurance paid me about $168,500(CAD) which I think it’s not too bad for a 2022 lvl2. Unfortunately I can’t use this cheque to buy a new TRX, they told me I have to pay off my finance to the vehicle first. And there’s really not any new TRX in Toronto area lol. If you have an order coming up and are willing to transfer, please let me know

 

[Claasicdrive]

Hi all!!
My insurance payoff is finally here - after a month of waiting. The insurance paid me about $168,500(CAD) which I think it’s not too bad for a 2022 lvl2. Unfortunately I can’t use this cheque to buy a new TRX, they told me I have to pay off my finance to the vehicle first. And there’s really not any new TRX in Toronto area lol. If you have an order coming up and are willing to transfer, please let me know

How hard is to buy in the the US and drove it to Canada? I had a 392 sold to a canadian..but he had a dealer license. He actually purchased one from me (AZ) and a 2nd in Tennessee and was hoping to sell the TN one and keep mine. Not sure if it makes any difference but HE had a US permanent residen card

 

[NicoleG98]

How hard is to buy in the the US and drove it to Canada? I had a 392 sold to a canadian..but he had a dealer license. He actually purchased one from me (AZ) and a 2nd in Tennessee and was hoping to sell the TN one and keep mine. Not sure if it makes any difference but HE had a US permanent residen card

I have no clue lol I know there’s tax difference but idk how much it is. I’m willing to come down and drive it home though

 

[PRDATR]

How many of these trucks that were stolen had some type of anti theft installed?

 

[CanTRX]

Hi all!!
My insurance payoff is finally here - after a month of waiting. The insurance paid me about $168,500(CAD) which I think it’s not too bad for a 2022 lvl2. Unfortunately I can’t use this cheque to buy a new TRX, they told me I have to pay off my finance to the vehicle first. And there’s really not any new TRX in Toronto area lol. If you have an order coming up and are willing to transfer, please let me know

Hello - I think you made out pretty good - Mine was stolen in Toronto in december and it took about 6 weeks to get it all finalized. I was able to find a new one coming to a dealer in Quebec so i put a deposit on that as soon as I could.
It sounds like you got more than you paid maybe for it?
Mine was a 2021 and only had 26000kms on it (level 2 also) but I didn't get that much back. Cost me about $17k to get a new 2023 with the same options.
95% of the dealers in Ontario are asking + $10-$20K over asking and thats why i went to Quebec.
I hope you're able to get a new one soon.

 

[Claasicdrive]

I have no clue lol I know there’s tax difference but idk how much it is. I’m willing to come down and drive it home though

You have PM