Another insurance-related thread.
First, as an LEO, sorry to hear about your 4Runner being stolen. Depending on who you have for insurance will determine how willing they will be to pay your the "actual cash value" (ACV) of your 4Runner. Frequently insurance companies will try to avoid paying for accessories added to the vehicle (larger tires, skid plates, etc.) because they don't significantly add value to the vehicle. Insurance companies are "bean counters" and it's hard for them quantify how much accessories add to the price of a vehicle.
There's no set time-frames for when an insurance company will pay out on a stolen vehicle claim. They do prefer to wait a few days, but I have never heard of a company waiting 30 days (I used to be a field claim rep with the largest auto insurer in the US -- didn't want to specifically name the company). Most will wait about 7 days or so, because they are usually paying for a rental vehicle for you and they don't want that to add up as a significant expense. Since there wouldn't be any personal injury involved, they will want to pay-out quickly and close the claim.
You won't need to find 3 comparable vehicles. They are paying what your vehicle is/was worth, not what you find later. Just make sure to have as much documentation (receipts, etc.) for any modifications you've done. Just don't be surprised if they balk at adding any value to the 4Runner because of modifications.
Fortunately, a well cared for 4Runner will hold its value well. If you do happen to be upside down on your loan, the entire payout will go to the lienholder. You will then have to negotiate with the lienholder to finance a new/newer vehicle and put the remaining loan balance on the loan for the new vehicle. Hopefully it won't be much if there is a remaining balance.
If you want to get an idea of how your 4Runner is valued, check Black Book Online and Edmund's. Very few if not none of the insurance companies will accept Kelly Blue Book, since they over- or under-inflate vehicle values based on advertising costs, etc. Insurance companies use sources like ADP AutoSource and CCC, which you won't have access to for info. You can demand a copy of whatever your insurance companies uses, and it should show actual comparable vehicles that are for sale in your market area.
Feel free to message me if you have any questions.
