Worst day of my life. A car ran me off the road last week, and today. I was told it was totalled. I swerved to avoid a t-bone collision and smashed hard into the curb. The damage looked just cosmetic, but boy was I wrong. Body and paint repair - $5800. Suspension also destroyed, but I did not get an estimate on the suspension repair; State Farm did not hesitate to total it. Nothing in the C5 was stock. It was super modified from headlights to taillights. 569 to the wheels.

State Farm is only giving me $14,xxx for it. 1998 with 63,000 miles. I want to negotiate a higher pay out, but 'never tried that before. If anyone has any experience or advice, please enlighten me. State Farm said said I crossed threshold beyond repair. They said if the damage exceeds 75% of the car value through NADA, they will total it. So here is the math:

$14,000 x 75% = $10,500. Body work was at $5800. I thought I had "room." But there was no hard estimate on suspension damage, because they didn't even estimate the damage amount. Frame was still intact. But SF totalled me out without even knowing what suspension damage was done and/or or how much to repair it.

Does this sound right?

And, yes, tears are rolling down my face right now.



Bye bye my baby.

 

There is good news. You are okay. Also, you have a very cool username. You can get another Corvette, there is only one of you. I'd get a list of comps, because your car is probably worth a bit more than their payout offer.

 

Sorry to hear this happened. I drive my C5 like I'm still in a Miata because people act like they can't see you.
This happened to me with my 240sx back in the day (2005), it got totaled by a space cadet running a stop sign and she t-boned me. I had only bolt-on mods on it but I did the following:
Get a lawyer to fight State Farm for more compensation (did you keep all your receipts?) and buy your car back (it's usually a low salvage price) to get any parts off of it to put on another C5.
State Farm wanted to give me practically nothing for the car but after a letter from a lawyer I got closer to replacement value (of what the market was at the time).

You *could* have the body shop rebuild it..buuuut I'd try to find out how bad that front damage is...like if the subframe is bent it might not be worth saving and better to use the money to get another C5 and put all your goodies on that one. That's just my .02 though...it's not the best outcome but better than losing everything to the insurance company.

 

Thank you! Yes I am physically ok, and that is good. Emotionally, I am total *wreck.* This is rock bottom for me. The C5 was my life. Some people tell me "it's just a car, forget about it." They don't understand that owning a Vette is a hobby, passion and lifestyle. It gets me out of bed every morning.

I don't know how to go about getting comps. I've never had this happen to me before. I bought the Vette after my 769HP SS Camaro was totaled 3 years ago when it caught fire all by itself. It was just sitting there in the parking lot. I was walking my dog and saw flames coming out of the front of the hood. The fire dept got there quick, but the damage was done and it was totaled by Allstate. The SS only had 10,000 miles on it. It was a 2010.

(Reaches for Kleenex box).



Is God punishing me?

 

Very nice reply, thank you. I don't know that I can afford a lawyer though. Sorry to hear of your mishap, but 'happy for you that you survived a t-bone. Many of those are fatal.

THANK YOU!

 

Thank you. This is horrible.

 

Sorry to hear about your car. God is not punishing you. I hope it works out for you.

 

I was a poor college student at the time, their payment came out of the settlement but since you don't have a party that hit you for the lawyer to go after I suppose it will cost you up front. TBH, I'd call around, most offer a free first-call just to see if they can do anything for you. It might be worth it, the insurance company is expecting you to roll over and take their lowest offer

 

Sorry to hear of your misfortune. Now start looking for a 2002 z06

 

Sorry to hear of the wreck and the total status on your car. Glad you are OK - just start the search for the next one - that may help you feel a bit better.

 

The $14K is in keeping with the Kelley Blue Book values, aftermarket parts have zero value unless you specifically claim them on the policy. I wouldn't be shocked if you could get this done for $10K including the suspension work. I would demand a full repair estimate before accepting the total.
Here's the big question: If the car has this extensive of damage do you really want it after repaired? The gremlins will appear down the line.

I'd probably take the $ and start with another Vette. '98 has some parts availability issues, going with something 2001-2004 will serve you better


Here's something I found in a 5 min search
https://www.corvettetrader.com/ads/2...etexas2530.htm

 

Thank you for your insight and support.

 

Thank you very much.

 

thank you!

 

I was just in an head on accident in my truck last week. The woman that hit me right between the head lamps. only the bumper bar was bent but the rest was plastic parts and bumper cover and radiator/condenser. $10K just for that and no sheet metal damage.

Having regular insurance on a Corvette is a losing deal. They will never give you what it is worth. If you modifications you will never see a full amount. This is why you need specified amount insurance to make sure to cover your full investment. Even simple accidents can be no less than $10-15K. My head lamp and grill in my truck were $1000 each. That is just plastic!

But too late for that. I would get comps for similar cars and show receipts and photos of the modifications. They still may not want to cover but it is worth a shot to show the value and condition of the car.

You may take the best offer and then fix it. Or the other deal is to buy the car back at the lowest price you can and strip the good parts off for your next car or even sell them to redeem the cost. Many times you can sell the parts for more than the car was worth. Then apply to a new car.

But please if you keep this car or you buy a new one get specified agreed value insurance. So many people lose so much money and a car with regular insurance.

Just be grateful it was not worse and you were hurt, You can always get a new car. I was not happy in my accident till got back in the truck and drove it home. I was going home.

But right now look at this different ways to try to get more for your car or the options that can limit the cost to you in repair or replacement.

 

Happy that you're OK.

 

As somebody who has a 98 with 59k miles and now trying to sell it I would be happy to get $14,000 for it. Your insurance is absolutely fair with the valuation. Until there is a transaction with a buyer and seller you don't know what the car is worth. My car certainly isn't worth what it was when I bought it for 19k during covid crazy times with 40k miles. But I flipped out of the old car for a profit.

Unless the policy covered a declared value for modifications or accessories they aren't worth anything. I don't see how you add property to an insurance after a loss occurs. I mean... I'm no expert but fundamentally that's just not how insurance works as a concept.

 

You could consider buying the car back, if it is making close to 600 WHP you can certainly make you money back from a buy back and then some. Of course this is only if you have the means and ability to part it out. Would give you more $$ for the next one.

Also, next one, do an agreed value policy. I have one on my 2000 for $25K with SF. It is like $55/month or so for me.

 

Got pictures of the damage? I have repaired a few from on track incidents that insurance probably would have totaled just to not deal with the headache. If its worth it to buy it back and rebuild it you might make money on the project.

Some parts you cannot find anymore like inner fender panels, so if those get damaged its more often going to be totaled. BUT you can find used ones.

 

Sad to hear about another C5 no longer sharing the road, but glad you are OK.

Unfortunately, a standard insurance policy only pays KBB value so if you have a heavily modded Corvette, you need a Agreed On Value policy from the NCM or Hagerty. They usually aren't available for daily drivers as they have mileage, garage kept, and pleasure use only conditions, among others.