, But im glad your sons ok.
Very Sad Day
Melting Slicks
Joined: Sep 2002
Posts: 2,787
Likes: 139
From: Las Vegas NV
Thread Starter
Racer
Joined: Jun 2008
Posts: 297
Likes: 1
From: laPlace louisiana
St. Jude Donor '09-'10-'11-'12-'13-'14
Thanks Guys,
This car was for both of us.Little Mark is 26 and was born with a fourm of spinal biffet.He does not walk very good but yes he drives fine and gets himself around OK.This was one of the bright spots in his life.He told me all the time,"Dad I love that car".I can not say how good that made me feel bringing a little joy into his life with this car.I will do something,I hope to know more tomorrow with state farm.He is fine and that's what matters.Thanks for your kind words. Mark
This car was for both of us.Little Mark is 26 and was born with a fourm of spinal biffet.He does not walk very good but yes he drives fine and gets himself around OK.This was one of the bright spots in his life.He told me all the time,"Dad I love that car".I can not say how good that made me feel bringing a little joy into his life with this car.I will do something,I hope to know more tomorrow with state farm.He is fine and that's what matters.Thanks for your kind words. Mark
Le Mans Master
Joined: Mar 2009
Posts: 5,280
Likes: 1
From: PALM COAST Flordia
Drifting
Joined: Dec 2000
Posts: 1,833
Likes: 4
From: Calgary, Alberta
Go online and see what other people and Dealers are selling C5's for with the same mileage, options...etc.
You will at least have an idea what yours is worth, and see if the Insurance Company is even close to actual value.
Do you really want a salvage title vehicle?? You'll put all that money in and get even less back.
Decide what is best for you.
Glad your Son is alright, you can always get another Vette.
You will at least have an idea what yours is worth, and see if the Insurance Company is even close to actual value.
Do you really want a salvage title vehicle?? You'll put all that money in and get even less back.
Decide what is best for you.
Glad your Son is alright, you can always get another Vette.
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Le Mans Master
Joined: Aug 2000
Posts: 5,808
Likes: 1
From: Sierra Foothills California
They pegged the repair cost at $9500.00
. They effectively gave me $11K for the car. I bought it back for $1400.00 and fixed it myself (for around $700.00) It has a salvage title, but State Farm is still insuring it same as before. I think it's easier for them to write it off hence the "totaled" It now has 102K on it and other than the title being labeled "salvaged" it's still a good car.
Race Director
Joined: Aug 1999
Posts: 11,123
Likes: 673
From: SE Pennsylvania
St. Jude Donor '03 thru '26
Oldtimer
Hey Guys,
Last week my son spun out trying to miss a truck that was going to run into him,he hit the curb and into a pole,He calls his Mom and she calls me...No problem it's insured.I had the car brought over to the local chev shop and after a week no est on the damage.So I got the car move to another shop that I know the guys that own it.They call me and say that the front right fascia and fender were hit also the rt headlight was missing.They sad no big deal...but State Farm say the car is a total.I went and looked when I got back in town and met with the adjuster as he happend to be at the shop when I got there.What a dick,he said that the car was 9 years old and as he added the damage he got to 78% of the car value.I asked him what value and he said that he did not know that as he enters the damage it will stop at a certin value.I haven't been told what the NADA is on the car yet,I tryed to go on line but there web site must be down right now.What a damm shame,after the payout and gap insurance I will have a BIG 0.Nothing to show the 1 1/2 years I have paid on the car.I loose everything I put into the car,just does not seam fair.Not sure what I am going to do....a very sad day... Mark
Last week my son spun out trying to miss a truck that was going to run into him,he hit the curb and into a pole,He calls his Mom and she calls me...No problem it's insured.I had the car brought over to the local chev shop and after a week no est on the damage.So I got the car move to another shop that I know the guys that own it.They call me and say that the front right fascia and fender were hit also the rt headlight was missing.They sad no big deal...but State Farm say the car is a total.I went and looked when I got back in town and met with the adjuster as he happend to be at the shop when I got there.What a dick,he said that the car was 9 years old and as he added the damage he got to 78% of the car value.I asked him what value and he said that he did not know that as he enters the damage it will stop at a certin value.I haven't been told what the NADA is on the car yet,I tryed to go on line but there web site must be down right now.What a damm shame,after the payout and gap insurance I will have a BIG 0.Nothing to show the 1 1/2 years I have paid on the car.I loose everything I put into the car,just does not seam fair.Not sure what I am going to do....a very sad day... Mark
It's just me, but I wouldn't sit back and just accept what the insurance company says. If possible, buy the car back from the insurance company and do some of the work and fix it. Maybe I'm off the mark here, but it doesn't sound like your car is in that bad of shape and I be getting a idea of what I can do to fix the car back. I know Corvettes are difficult to repair, but I wouldn't write off all the 'Sweat Equity' you have invested. I wouldn't let the car go this way.
Thread Starter
Racer
Joined: Jun 2008
Posts: 297
Likes: 1
From: laPlace louisiana
St. Jude Donor '09-'10-'11-'12-'13-'14
Thanks for all the info.Tomorrow will tell the tail,I let ya know.I will get another Corvette,mabe another C5 but a Z06.I am not going to get down on this...we shall ride again....
Burning Brakes
Joined: May 2003
Posts: 1,126
Likes: 0
From: Discovery Bay...of Sunny CA
Race Director
Joined: Jan 2007
Posts: 18,643
Likes: 14
From: Norman Oklahoma - The Only State in the Union with no Blue Counties!
Pro
Joined: Dec 2002
Posts: 718
Likes: 0
From: houston tx
St. Jude Donor '04-'05-'06-'07-'08-'09
I's spend some time and read your policy. Most insurance policies have a procedure for protesting the assessed value. At least there is for diminished value so I suspect there might be for the total value. The process ends up using what the insurance company calls an "umpire" but it is really just another name for arbitration. There are companies that specialize in helping you contest the valuation. I just went through the process on my wife's minivan. The insurance company offered $700 in diminished value. My appraiser, ICAN, said the diminished value was $4000. The independent assessor said $2700 and that is what the insurance company paid. Again this concerned diminished value but it won't take much reading to see the process called out in you policy.
Safety Car
Joined: May 2006
Posts: 3,799
Likes: 1
From: Northern Virginia
St. Jude Donor '08
Glad your son is okay.
Sorry about your vette.
Was the driver who ran your son off the road cited? Perhaps you can sue the other driver to recover the costs that your insurance company won't pay.
Hope things workout for you and your son, and that you can drive a vette again soon.
Sorry about your vette.
Was the driver who ran your son off the road cited? Perhaps you can sue the other driver to recover the costs that your insurance company won't pay.
Hope things workout for you and your son, and that you can drive a vette again soon.
Burning Brakes
Joined: Oct 2004
Posts: 925
Likes: 4
From: EXTON PA
Earlier replies were right ask the buy back price. The cost is very very low and the insurance has salvage companies lining up to buy them for parts. If you know someone in a body shop or is willing to work with you on the repair go for the buy back. SEE WHAT HAPPENS.