Progressive really screwed me
Team Owner
Joined: Oct 2004
Posts: 23,831
Likes: 10
From: Springfield MO
St. Jude Donor '07
Originally Posted by 427SIXPACK
Driving to the "MALL" is one thing, leaving it there & going shopping is another, i don't care what state your in..........if it's hot ride it's not going to be there when you get out...[/B]
If you want to live somewhere with an insane car theft rate, well...that's your problem and your insurance premiums should reflect that.
Thread Starter
Burning Brakes
Joined: Jul 2006
Posts: 1,108
Likes: 0
From: Sebastian Florida
Originally Posted by Vet76te
Did they EVER call you back? What did they say?
Melting Slicks
Joined: Jun 2005
Posts: 2,938
Likes: 2
From: Arkansas
Originally Posted by Attfay Elleybay
They say book value on an 1980 vette is $1450 minus my dec. means they will give me $450 plus I can keep my vette with a salvage title.
Just curious what a $1450 vette looks like
Burning Brakes
Joined: Sep 2005
Posts: 1,139
Likes: 109
From: B'ham Alabama
Originally Posted by Attfay Elleybay
They say book value on an 1980 vette is $1450 minus my dec. means they will give me $450 plus I can keep my vette with a salvage title.
Was your car in extremely poor condition prior to the accident?
Melting Slicks
Joined: Jun 2005
Posts: 2,938
Likes: 2
From: Arkansas
Originally Posted by Vet76te
Was your car in extremely poor condition prior to the accident?
Maybe they are being "generous" because it wasn't technically an accident because the brakes were shot and he couldn't stop. Thats more negligence than anything.
No different than someone keeping bald tires on a daily driver and had a blow-out that cause them to swerve into a brick wall. That would be thier negligence keeping a vehicle properly maintained.
An accident would be a tree or animal in the road that caused them to swerve and hit a brick wall....then that would be beyond thier control.
Last edited by 1982CorvetteDude; Oct 1, 2006 at 07:39 PM.
Burning Brakes
Joined: Sep 2005
Posts: 1,139
Likes: 109
From: B'ham Alabama
Originally Posted by 1982CorvetteDude
Thats what I'm wondering
Maybe they are being "generous" because it wasn't technically an accident because the brakes were shot and he couldn't stop. Thats more negligence than anything.
No different than someone keeping bald tires on a daily driver and had a blow-out that cause them to swerve into a brick wall. That would be thier negligence keeping a vehicle properly maintained.
An accident would be a tree or animal in the road that caused them to swerve and hit a brick wall....then that would be beyond thier control.
Maybe they are being "generous" because it wasn't technically an accident because the brakes were shot and he couldn't stop. Thats more negligence than anything.
No different than someone keeping bald tires on a daily driver and had a blow-out that cause them to swerve into a brick wall. That would be thier negligence keeping a vehicle properly maintained.
An accident would be a tree or animal in the road that caused them to swerve and hit a brick wall....then that would be beyond thier control.
All insurance companies are required to pay true current market value for a claim. It's the law. If they are offering such a low value, they must have some reason.
What did they say they were basing the price on?????
Drifting
Joined: Jul 2005
Posts: 1,891
Likes: 2
From: Baltimore MD
Originally Posted by Attfay Elleybay
Sent an Email to Progressive Headquarters.
Message: I hit a curb in my 1980 Corvette, doing about $5500 worth of
damage (Bent frame, cracked fenders, damaged suspension). I have full
coverage. Progressive is going to total my Corvette and give me $1500. I'm
being told that $1500 is book value on my car. I am feeling cheated here.
A below average 1980 corvette is worth over $6000, and mine was about
average ($7000 - $9000). I talked to other Corvette owners at Corvette
Forum and they agree with me. You can check out their replies at
http://forums.corvetteforum.com/show....php?t=1509490
Is there anything you can do to help me?
I should find out soon how good a company Progressive is.
Message: I hit a curb in my 1980 Corvette, doing about $5500 worth of
damage (Bent frame, cracked fenders, damaged suspension). I have full
coverage. Progressive is going to total my Corvette and give me $1500. I'm
being told that $1500 is book value on my car. I am feeling cheated here.
A below average 1980 corvette is worth over $6000, and mine was about
average ($7000 - $9000). I talked to other Corvette owners at Corvette
Forum and they agree with me. You can check out their replies at
http://forums.corvetteforum.com/show....php?t=1509490
Is there anything you can do to help me?
I should find out soon how good a company Progressive is.
Sounds like you just didn't "hit a curb" Sounds more like you climbed that curb - that's an awful lot of damage for a 5 to 10 mile per hour speed.
Drifting
Joined: Jul 2005
Posts: 1,891
Likes: 2
From: Baltimore MD
Originally Posted by Attfay Elleybay
They say book value on an 1980 vette is $1450 minus my dec. means they will give me $450 plus I can keep my vette with a salvage title.
Average book value for a 1980 corvette is $16,725.00 - Low value is $9,673.00.
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Burning Brakes
Joined: Sep 2005
Posts: 1,139
Likes: 109
From: B'ham Alabama
I talked to my insurance agent today,..who also sells Progressive Insurance. I told him about this situation, and he proceeded to tell me that we MUST me missing a part of the story, or we haven't seen or heard all the issues.
He told me that even though insurance can vary from state to state, (as they are regulated by each states own Insurance Commisioner), he said that Progressive would never offer such a low price on a decent 1980 Corvette, especially when there was evidence that the book value was so much greater.
He suggested that the owner contact his states Insurance Commisioners office and present the case to them. The State Insurance Commisioner is an elected official who represents the consumer, to preotect them from fradulant insurance agents and practices.
He also said that Progressive has a policy of allowing Arbitration for anyone who feels they have been mishandled.
He told me that even though insurance can vary from state to state, (as they are regulated by each states own Insurance Commisioner), he said that Progressive would never offer such a low price on a decent 1980 Corvette, especially when there was evidence that the book value was so much greater.
He suggested that the owner contact his states Insurance Commisioners office and present the case to them. The State Insurance Commisioner is an elected official who represents the consumer, to preotect them from fradulant insurance agents and practices.
He also said that Progressive has a policy of allowing Arbitration for anyone who feels they have been mishandled.
Team Owner
Joined: Oct 2004
Posts: 23,831
Likes: 10
From: Springfield MO
St. Jude Donor '07
Originally Posted by Vet76te
I talked to my insurance agent today,..who also sells Progressive Insurance. I told him about this situation, and he proceeded to tell me that we MUST me missing a part of the story, or we haven't seen or heard all the issues.
He told me that even though insurance can vary from state to state, (as they are regulated by each states own Insurance Commisioner), he said that Progressive would never offer such a low price on a decent 1980 Corvette, especially when there was evidence that the book value was so much greater.
He suggested that the owner contact his states Insurance Commisioners office and present the case to them. The State Insurance Commisioner is an elected official who represents the consumer, to preotect them from fradulant insurance agents and practices.
He also said that Progressive has a policy of allowing Arbitration for anyone who feels they have been mishandled.
He told me that even though insurance can vary from state to state, (as they are regulated by each states own Insurance Commisioner), he said that Progressive would never offer such a low price on a decent 1980 Corvette, especially when there was evidence that the book value was so much greater.
He suggested that the owner contact his states Insurance Commisioners office and present the case to them. The State Insurance Commisioner is an elected official who represents the consumer, to preotect them from fradulant insurance agents and practices.
He also said that Progressive has a policy of allowing Arbitration for anyone who feels they have been mishandled.
Burning Brakes
Joined: Sep 2005
Posts: 1,139
Likes: 109
From: B'ham Alabama
We have never heard back from you on the Progressive conversation. Please tell us what happened. I hope this wasn't just a scam / bogus post about insurance. I am very concerened about how insurance claims pay out. You hear so many different statements it always makes me worry if I have correct coverage on my car.
I am currently with Hagerty with stated value.
I am currently with Hagerty with stated value.
Thread Starter
Burning Brakes
Joined: Jul 2006
Posts: 1,108
Likes: 0
From: Sebastian Florida
Originally Posted by Vet76te
We have never heard back from you on the Progressive conversation. Please tell us what happened. I hope this wasn't just a scam / bogus post about insurance. I am very concerened about how insurance claims pay out. You hear so many different statements it always makes me worry if I have correct coverage on my car.
I am currently with Hagerty with stated value.
I am currently with Hagerty with stated value.
I'm getting it apraised and Progressive is getting it apraised then it goes to mediation. The Agent said he got the $1450 price from Edmunds. I checked NADA and they said a daily driver 1980 vette is considered below average and is worth $7100. Mine ran great but could have used a new paint job (Looked great from 20 feet). The interior was ok except for the seats. I described my vette to my adjuster over the Phone (the same as i've described it here) and he said without looking at it about $7000, could go up or down when he looks at it.
Melting Slicks
Joined: Jun 2005
Posts: 2,938
Likes: 2
From: Arkansas
Originally Posted by Attfay Elleybay
The Agent said he got the $1450 price from Edmunds.
Reminds me not to use Progressive as a insurance carrier, I went to the edmunds website just to see for myself......keep in mind I typed in "outstanding " condition...the top notch corvette value.
Race Director
Joined: Nov 1999
Posts: 10,643
Likes: 8
From: Foxfield CO 1970 Convertible
Originally Posted by 1982CorvetteDude
Any updates
This car was WAAAY underinsured. No one who owns a Vette older than 1990 should be insuring their car for "book" value. The book value is almost always not anywhere near the actual value of a car once it get over 25 years or so. Those values are determined by typical depreciation of common daily drivers.
Anyone here should have their Vette insured for a set value, or some sort of "actual replacement cost" value like a homeowners policy.
Safety Car
Joined: Dec 2004
Posts: 4,071
Likes: 0
From: San Diego CA
Heh makes me glad I have Mercury, I think. They required me to write an agreed value for it and I have to have it appraised by underwriting if I want to insure it for more. I just said $7000 because I only paid $5000 for it. If it gets totalled I'd probably take the $7000, pay off all of my debts, and finance another one.
Melting Slicks
Joined: Nov 1999
Posts: 2,460
Likes: 352
From: Madison Alabama
Those numbers are crazy...the milage adjustment adds 121% to the value of the car 
...jumps from $564 to $1,241...and what with the hell is a "Regional Adjustment" - a decrease of $43. That's why I don't live in Arkansas anymore
!How 'bout them Hogs though Corvette Dude!
We were at the Auburn Whooping 
Racer
Joined: Sep 2006
Posts: 484
Likes: 0
From: McComb Ms.
i hate to say it but insurance,social security,income tax,federal reserve bank are all private firms that are gonna rip this countries heart out and skip town...they still owe claims to katrina victims over a year later. only thing holding this country together now is our military industrial complex and as you know, 7th fleet is sailing towards iran right now and expected to arrive saturday.We may prove to be useful a bit longer if they get their war agenda as planned. Ship commanders are screaming over this move. I'm sure they are gonna get that war started before the republicans lose thier seats. New laws passed hurriedly by bush have made our gov a fascist dictatorship. Kinda like the seatbelt laws were relaxed and we could continue to drive w/o them a number of years in most states, then they started enforcing them. so will these new dictatorial laws be enforced when deemed necessary.things have been unfolding really fast the last few years so watch current events.i hope your all watching.. kiss habeous corpus g'bye..