Round 2/Wrecked Z
Thread Starter
Instructor
Joined: Oct 2005
Posts: 162
Likes: 0
From: Denver Colorado
Round 2/Wrecked Z
Got a quote in the mail today from the adjuster. It said location of estimate was the towing yard. But he told me he wanted to get it up in the air and check out the frame and such. So I don't know if this is just a preliminary report or what. Anyway, $19,500 in damage. 
This is an 02 Z with 35k on the meter. Another section on the report said, Point of Impact 15. Total Loss. So I don't know what that means since there is a 19k number on there also. I have a call into the guy to see what this is all about. So.....it goes on.
This is an 02 Z with 35k on the meter. Another section on the report said, Point of Impact 15. Total Loss. So I don't know what that means since there is a 19k number on there also. I have a call into the guy to see what this is all about. So.....it goes on.
Safety Car
Joined: May 2004
Posts: 4,487
Likes: 5
From: Naples Florida
Originally Posted by ovaltobowtie
Got a quote in the mail today from the adjuster. It said location of estimate was the towing yard. But he told me he wanted to get it up in the air and check out the frame and such. So I don't know if this is just a preliminary report or what. Anyway, $19,500 in damage. This is an 02 Z with 35k on the meter. Another section on the report said, Point of Impact 15. Total Loss. So I don't know what that means since there is a 19k number on there also. I have a call into the guy to see what this is all about. So.....it goes on.
This is an 02 Z with 35k on the meter. Another section on the report said, Point of Impact 15. Total Loss. So I don't know what that means since there is a 19k number on there also. I have a call into the guy to see what this is all about. So.....it goes on.
Racer
Joined: Apr 2006
Posts: 391
Likes: 1
From: Enterprise Al
Originally Posted by connecticut
if you can buy it back from the insur. co. give me a call
Any tips on how to avoid this happening again would be appreciated. Sorry for hijacking.
Race Director
Joined: Oct 2005
Posts: 10,092
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From: I speak the truth. Harsh but accurate. The Woodlands Texas
St. Jude Donor '09-'10
So did they total it or not? I am confused. Here is a link to the original thread:
http://forums.corvetteforum.com/show....php?t=1501004
http://forums.corvetteforum.com/show....php?t=1501004
Burning Brakes
Joined: Sep 2005
Posts: 1,208
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From: Long Beach CA
Tips on buying back from insurance co.---Dont sign the release consent on the car until you're ready to let it go.
Only on collison damage, you have the option to buy back the car. When its been stolen and stripped, ins. co will not offer to sell it back to the owner.
Only on collison damage, you have the option to buy back the car. When its been stolen and stripped, ins. co will not offer to sell it back to the owner.
Last edited by 99FewteRC5; Sep 29, 2006 at 12:33 AM.
Thread Starter
Instructor
Joined: Oct 2005
Posts: 162
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From: Denver Colorado
...
Freaking insurance guy has not got back to me so I called the dealership where it is located and the body shop manager was pretty sure they are going to total it. He said the frame is tweaked, the roof is tweaked and he estimated at least 25k he thinks. He says from his perspective it would make no sense to try and rebuild this car. I told him I have some headers on there and my wheels. The insurance guy said I could put my stock ones back on and take the CCW's........hoping he keeps his word on that. But, I am not sure about the headers. Sure would love to try to get them off and ready for the next experience. Only this time, ill keep it on the road.
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From: In a parallel universe. Currently own 2014 Stingray Coupe.
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Hope it all works out for you. If they are saying close to $25K to fix, I'd bet they total it.
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Racer
Joined: May 2006
Posts: 431
Likes: 0
From: Houston TX
Originally Posted by 99FewteRC5
Tips on buying back from insurance co.---Dont sign the release consent on the car until you're ready to let it go.
Only on collison damage, you have the option to buy back the car. When its been stolen and stripped, ins. co will not offer to sell it back to the owner.
Only on collison damage, you have the option to buy back the car. When its been stolen and stripped, ins. co will not offer to sell it back to the owner.
how does the insurance company get the car in the first place???
Burning Brakes
Joined: Sep 2005
Posts: 1,208
Likes: 2
From: Long Beach CA
usually the car ends up at a body shop for estimates. After the ins. co. deems it a total loss owner must sign a release of interest in the car. Then and only then the body shop will contact the ins co and let them know that the release has been signed. The ins. co will send a tow truck to pick up the car. (in a nutshell) There's a lot more to it-- like payoff value of the car and other things usually related to monetary value.
Please do not take the first offer of settlement from the ins. co. they will try and low ball you. Get a few autotrader ads that are comparable to your car.
However in a collison the owner has the option to keep the car. If the owner wishes to keep the car, he can buy the car back from the ins. co. (Whatever the settlement from the ins. co minus what the ins. co. wants for the car.
Please do not take the first offer of settlement from the ins. co. they will try and low ball you. Get a few autotrader ads that are comparable to your car.
However in a collison the owner has the option to keep the car. If the owner wishes to keep the car, he can buy the car back from the ins. co. (Whatever the settlement from the ins. co minus what the ins. co. wants for the car.
Last edited by 99FewteRC5; Sep 29, 2006 at 07:09 PM.
Vette Dan
Joined: Sep 2004
Posts: 1,043
Likes: 1
From: OKC Oklahoma
You wont have long to getthe exhaust off and the old back on. Once it's totalled the ins. company wants it out of the body shop since they will charge for storage. I know since I totalled mine in April and state farm did a quick job of it all.
Good luck to you.
DJ
Good luck to you.
DJ
Race Director
Joined: Apr 2004
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From: Newberry FL
Cruise-In VIII Veteran
St. Jude Donor '07
Originally Posted by JDs00PewterCoupe
Hope it all works out for you. If they are saying close to $25K to fix, I'd bet they total it.
Sorry to hear about your misfortunes.
Thread Starter
Instructor
Joined: Oct 2005
Posts: 162
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From: Denver Colorado
all but totaled
Well, unofficially they are going to total it. Body shop guy and the estimator said it is not looking good. The estimator was trying to not tell me much it seemed. He just said that I need to talk to my adjuster and that he should have called me already. Well, that has not happened. So hopefully soon. I am curious what they will try to give me for the car. I owe 25 on it and I would assume market value is about 30k. 2002 Z with 35 on the clock. I have seen them from 29-33 but who knows.
