SIKHS 5

I recently got rear ended while stopped in traffic by a driver who's insurance has taken full responsibility for the damage. The vehicle has been declared as a total loss... after waiting a month - the dmv has quoted the value of my vehicle at only $8,400

I have a excellent insurance that was supposed to cover the addition to aftermarket parts... they had the nerve to even say "but nothing is even original". Has anyone else had to deal with a similar situation? Should I find an individual appraiser

While sorting through the paper worth they provided me (copies from the insurance provided appraiser)... I learned that they have only valued my car based on four online classified ads. The majority of them were out of state (The vehicle has never been out of Ca)... Also what about the value of everything I had installed? (They were provided with a thorough list of parts down to the prices and part numbers)

A bit frustrated... Paying for a rental out of pocket and just don't have enough to get into another vehicle. (College student [Engineering] living away from home)

SIKHS 5

Before

https://scontent-a-pao.xx.fbcdn.net/...26049275_n.jpg

http://i20.photobucket.com/albums/b2...602_111338.jpg

http://i20.photobucket.com/albums/b2...lle/1to8/6.jpg

http://i20.photobucket.com/albums/b2...lle/1to8/3.jpg

http://i20.photobucket.com/albums/b2...lle/1to8/2.jpg

less than 40k on the lq4

video:
http://s20.photobucket.com/user/Sima...e/Rev.mp4.html

Raptor_WS6

iTrader: (23)

im in the same boat. my ws6 got totaled, KBB is at 14k and they only wanna give me 10k cuz their 3rd party company is telling thats the cash value. i told them to **** off and i found 8 cars similar to mine over 12.5k, couldnt find a single SOM ws6 for sale tho to show them SOM brings in more money. i had it for sale and had a buyer lined up for 19k. and then i got fucked

mine was a hit and run so non of my mods are covered since i didnt declare them, i just finished this build less than 2 months ago and have 14k in the drivetrain alone



do you have a build thread on your car since thats what my drivetrain is going into lol

406chvycamaro

iTrader: (7)

Sorry to hear that man. It's a shame you pay all that money for insurance monthly and when you go to use it they try to screw you

1bad03snake

iTrader: (16)

I'm buying hagarty for my 88 mustang. Its 560 a yr for a 20k declared value policy.

406chvycamaro

iTrader: (7)

Do you have to get appraised before you get hagerty?

Project GatTagO

iTrader: (7)

I am sorry about the situation, but your car is a 4 door. I realize that it was a clean shell to begin with and all that, but it is still a 4-door, and thus not as desirable as a 2-door car.

How bad is the damage? If I was you, I would try to get the most money and keep the car. Find another shell and transfer any non-damaged parts to it.

Did you have agreed value coverage?

Andrew

alocker

iTrader: (10)

First off, you don't have to accept their offer. If you have documents to prove what you have invested, that will help. Second, the statements about a 4 door are true. I know you have more invested in the drivetrain, but their offer for a 4 door is pretty good. Finally, on a car like this, you must have it insured for an agreed value for a specialty company. That way if you had to, you might be able to put the claim through them.

Turtle Bite

iTrader: (3)

You said your insurance is suposed to cover the cost of aftermarket parts- you need to find the section and verse in your policy and confirm this, or you dont have a leg to stand on. My insurance is setup for market value of the vehicle (about $9K), plus $2000 dollars in aftermarket parts. In my case I payed extra for an extremely clean used rig optioned out exactly how I wanted (13K), and have about $5000 in aftermarket parts. If my rig is totalled however, I will only get the $11,000 that is identified in my policy, and that is what I payed for.

I know if/when my rig gets totalled, the most I will get is 11k and I will have to buy back truck if I want to recoup the cost of any aftermarket parts that I didnt add to my policy. In all honesty, $8400for a very clean, rust free, 4 door 65 Chevelle is pretty close to market price. If your policy covers aftermarket parts, then you should be getting the paid in addition to the market value of the car to the limit they promise. If not, you should buyback and part out the car, that is the only way to re-coup the cost of any of your aftermarket parts. I feel for you, but that is the harsh reality. Read the section of your policy regarding aftermarket parts, and hold them too whatever that section states. You will need to be pesistent if the policy is your favor.

Pop N Wood

iTrader: (1)

I feel your pain, my brother. Too many insurance companies will do anything they can to get out of paying a claim. You just need to stay on top of them.

This is exactly the reason I only carry liability on my hotrod. Specialty companies often won't let you use the car like a daily driver while mainline companies want to treat every car the same. Most people like to think they are covered but find out otherwise when they try to make a claim. Just not worth the stress IMO. Buy the cheaper policy and rebuild from the salvaged parts if bad luck strikes.

Good luck with your efforts

69 Ghost

Sorry to hear about the loss. Ask them what the salvage value is and pick up the car for that and reuse the parts. I went with classic car insurance that allows me to drive 5k a year. I insured my car for $25k claimed value of the car no questions asked. I believe it is Hagerty through AAA. If the car is a total loss, stolen, etc they give me the claimed value.

LS1 TJ

You are missing a huge detail.They or he rearended you. They TOTALLY at fault. It could take years for you to recover. Do they want to take the risk for any medical issue you may have from now and or forever. I don't like taking this route but sometimes hard ball is the only way to a fair settlement.

99Bluz28

iTrader: (35)

FYI, your insurance company should be "playing hard ball" with the other guys insurance company to make sure you get fairly reimbursed. IMO, If you insurance isn't fighting the other insurance company for you, or helping you out to a large degree, then tell them they need to give you a really good reason to stay with them, otherwise when this is all over you'll take your business elsewhere.

ls1nova71

iTrader: (4)

Got any pics of the damage? It would have to be REALLY hit hard for it to not be repairable. Fight them for all you can get, then buy the car back and have it fixed. That's what I would do, you might even come out ahead on the deal.

speer13

I'm not sure about CA law and every state is different but what they did was used the 4 cars closest to your location that have sold recently to estimate a fair market value.. this is most likely done using the VIN code for your car and in some states this is all they are required to do unless you have specialty car insurance. If you have not had the car appraised and properly insured the persons who hit you insurance will probably use that as basis for their claim, I had to put a claim against my own insurance for additional coverage on my truck after it was totaled but that was in CT. The other issue that happens is receipts for everything must be kept because what they will sometimes do is determine a replacement value and then subtract depreciation from it... As someone else said on here you don't want to cheap out on insurance for your car because even if someone hits you they may not have any or have at best the minimum which may not cover your car. You do not have to accept the claim but be aware that after so many days they may not be responsible for reimbursing you rental fee's etc after that point.

speer13

not to hijack the thread but FYI Hagerty does do the guaranteed value coverage so if you are insured for 20 K you get 20 K but the car has to be worth it and the value is agreed upon by them when you finalize the paperwork and pay... so an 88 mustang they would def question the 20k on and most likely want an appraiser to come out, otherwise everyone would be putting 30k coverage on a gremlin then hitting a tree..haha they questioned 25K coverage on my 69 Corvette even though NADA on it is between 25-50K. You also have to be aware of there rules and grey areas, you must store the car in a garage or secure structure, not used for daily transportation and show there are other vehicles for each driver in the house for DD and if it has nitrous they will not cover it.... and if the car is raced on the track it is only covered away from the track... They are great but remember they are still an insurance company out to make money!

gofastwclass

iTrader: (2)

Very true.

I've seen this several times and lived it twice. Stay on them, show them the build pictures and a spreadsheet of parts with prices and labor (if applicable).

The main problems I have with "agreed value" policies is three fold:

• Some want you to have your car appraised (at your cost) and only cover within x percent of the appraisal value. This means you need an appraiser that understands and respects custom cars (good luck).
• Most (all I reviewed ages ago) have mileage / use limits that won't work for me because I DRIVE my cars - a lot.
• Most people couldn't afford to insure their car(s) for what they were worth (true replacement value) and still have or enjoy them.

I understand the insurance companies have their reasons, however I've not seen or heard of a true "drivers" policy for hot rods, low riders or customs. I challenge anyone to start reading the fine print on those policies and you will see exactly what I saw.

Good luck with your battle.

oChristiano

iTrader: (6)

Went through this with my 2000 SS when I got hit by a Semi that cut a corner. Got low ball 7k. Did exactly what they did sent them almost a dozen ads for cars in 11-12k range. Also listed all my mods with prices and receipts. Ended up settling for 11k. Never accept an insurance company's first offer.

I'm going through this again with my new 99 SS that got hit by a drunk driver. I bought this car with suspension work already done and used parts so no receipts. Looking like I'm going to get fucked.

sprayed99

iTrader: (15)

Get an attorney. I went through this my first semester in college. What started out as a 5K check for the car and them paying my medical bills ended up costing their insurance almost 50K outside of the medical expenses. Had they not been douche bags about it from the start I wouldn't have had to play hardball.

ModMuscle

Hagerty for the win.

You cant rely on typical everyday insurance on the cars we build. If its worth 20k, Hagerty will insure it. If not, they will tell you.

Sorry you are having to deal with this. Its a fear I think we all have when driving our cars. Hopefully you are OK and that is really the most important thing.