Hey all. Need some help. On 10/20/2018 I was rear ended in my Truck (2017 Toyota Tundra, 1794 Edition, 17K miles, Owned since new). The vehicle that hit me was a F350, with a steel flat bed, and a concrete mixing trailer in tow. It was probably 14000 - 16000 lbs of rolling mass. The driver of the truck that hit me did not provide proof of insurance at the scene. However, it was a labeled commercial vehicle so I was confident they had some insurance.
The damage did not look that bad, but the hitch was tweaked. This was a concern because the hitch is thick steel and ties into the frame at multiple points with grade 10 bolts. The week after the accident I took the truck to the Geico adjuster (My insurance). I went this route because Geico had an office at the Toyota body shop. This body shop is also the same company as the dealership I purchased the truck. They looked at the vehicle and called me a couple days later. The frame was 21mm out on both sides and needed to be replaced. To make it worse, there is a 10 week backorder on Toyota Tundra frames due to a recall on the earlier MY trucks. At this point I am considering options.
At this point Geico is assessing $15k to repair the truck. The Geico value of the truck is $42K. Initial feedback from Geico is they dont total Tundras because the residual value is so high. Ok, fine, I'll explore options. In parallel, I reach out to the co.pany that hit me and get a copy of their insurance policy. They send me a text of a Progressive commercial policy.
I owe $38k on the truck. I contact sales manager at the dealership to look at options for trading in/replacing the truck. After several days of study, the sales manager gives me a call. He says that my truck, because of the damage and subsequent repairs will cause a frame damage repair to be on my trucks record. As a result, my truck once repaired will have a trade in value of $19k. To make it worse, that is the value today. When the new year rolls over to 2020 my truck will be worth even less. So, as a result of the accident I am now $20k upside down.
At this point I call Geico and express fixing the truck alone will not be an acceptable option because the truck will be worth less than half its initial value after repairs. She says that is a diminished value issue and she does not do anything for diminished value. I point out that their purpose is to make me whole. Repairing a truck that has now lost $20k in value does not make me whole.she said she cant just total a truck. She is not empowered to make that decision. However, she would raise it to her manager.
I also reach out to progressive, the insurance of the person that him me to follow up on their adjuster looking at my vehicle. They take my info and state they will have an adjuster come out. What do I do now?
Other notes:
My Policy: Geico, 50/100 with 10 UM. No gap coverage. $500 Collision deductable.
Truck that hit me: Commercial vehicle, Unknown Progressive policy. Possible additional business liability.
I already have an attorney involved for the medical aspects of the case because I was rear ended in my miata 6 months ago by an uninsured driver. This accident resulted in x2 herniated discs. Both accidents I was stopped at a light for 15+ seconds before I got hit.
