Well the saga continues. I posted in "crunch" the pictures of our 08 C6 that got plowed by a pizza delivery boy in the nose. While neither myself or others thought that it was a total the insurance company declaired it a total loss. I had estimates of about $24K open ended should they find more damage. After almost a week they have offered me what I deem to be a low figure. (go figure) They used the "private party" blue book value instead of the "suggested retail value". The only difference is about 4K additional. I told the insurance company that I understand that I need to be "made whole" as I was before the wreck. I am not ASKING for a new vehicle just compensation that's reasonable. I'm still going to take a pounding as the wife won't settle for a used car. Were going to buy a new one. Sigh. She is even talking a Z06. Sent an email to Tim at Boardwalk to get things started. Anyone have any suggestions to bloster my contention that the private party value should not be used. They are getting off the hook for rental fees as we have another car we are using and the other party's carrier has accepted responsibility for the accident. I don't want to screw anyone but damn I'm the one getting screwed. I even went onto Cars.com, Autotrader etc. and there are no EXACT replacement vettes within a 500 mile radius. I'm just frustrated I guess.
Sam

 

That's just the nature of the business. When I rolled over my Firebird in 05, I had paid $18,500 a year prior from the dealership. But I only got $13.5k from the insurance co. I had to eat $5k in value. Now the good thing is I didn't owe a dime on it, but that meant that my next car (a Trans AM ) would be financed, not cash.

Good luck with the settlement. The silver lining is that everyone is ok and you'll have a brand new car soon. Even if it ends up costing you more than you hoped.

Cheers!

 

$4K is a lot of difference. Any possibility of elevating this above the adjuster level? How about a credit union eval of what your car is worth today, as if it were in perfect condition with the miles on it? Worth it to get a professional appraisal/appraiser?

If it were me, I'd be thinking about a different insurance company. Hope things turn out ok.

 

Tell your wife Buzz said "A fool and her money are soon parted.”


Personally, I would never buy new. After a few months, they're all used anyways!

I've paid cash for every car I've ever purchased for the past 20 years and not once has any of those been new. An American car depreciates 50% in 3 years. Let some other sucker take the hit.

Just my two cents... I'll move along now.

 

the other party's carrier has accepted responsibility for the accident.
That means they are the ones that are determining what your car is worth. Talk to YOUR carrier and see if they can put pressure on the other carrier to increase the adjustment. I have had luck with that approach in the past, but I had an exceptional carrier. In fact what they did, up front, was to offer immediate payment, minus the deductible, and that they would fight it out with the other company. You may find a more favorable out come that way. Edit: This happened when I lived in California.

BJK

 

I agree. We paid cash also that's why the depreciation really hurts right now. I would buy a used Z06 if it was me but it is the wife's daily driver and my weekend hotrod. You gotta know my wife to understand.

07MontRedcp - My insurance has always been great. GMAC. I have 7 vehicles insured through them so I'm sure they don't want to lose this cash cow. I figure that we will come to an agreement, it's just when.

I just had my claims rep call and want me to release the vehicle from the repair facility so they can tow to their lot to save storage fees. Their lot is about 125 miles away from here. I told her no way until we resolve this issue. Were just talking 4K here lets make it happen. She seemed miffed that I wouldnt release it. I was hoping this would hasten things along.
Sam

 

Good luck Sam, Hope you get the full replacement value, I agree it wasn't your fault, and still we get screwed, Here's hoping it all works out for you, Salt

 

Good move on your part. I would mention that you are thinking about getting an attorney. Sometimes that will speed things up.

 

good luck with everthing let us know what the outcome is I hope you get what you deserve

 

 

Next time they call, and they will, just tell them you'll have to consult with your attorney to any question they ask.

 

A good friend of our totaled this 06 coupe last August (his fault)....His insurance campany ended up giving him $42K which included sales tax and license......this was State Farm

See for pixs http://forums.corvetteforum.com/c6-c...-air-bags.html

 

Because an insurance company accepts that their driver is responsible for an accident does not mean that they are determining what your car is worth. Immediately after an accident, you the insured, have the option to determine whether you want your insurance company to handle the accident paperwork or the other company.

As a general rule you should always let your insurance company handle the case. That is especially true if the other driver is 100% at fault. Your insurance will try to work with you the get the highest payout because they want to keep your business. The other company is only going to try and pay as little as possible. Sounds like you may have violated the "general rule."

At least that has been my experience with my totaled 05 last year. I got a very favorable settlement from GEICO with the other driver 100% at fault.
.

 

Actually my only beef with the estimate was that the base price used was "private party value" and I want them to use "retail value" what a dealer would charge. My contention was that the car was bought from a dealer and my car was in the shape a dealer would sell a vehicle. Also that, OK no one take offense to this, any self respecting Vette owner would not buy private party. You would expect to pay less and not know what condition the vehicle would be in. Retail certified would at least give assurance of recourse. (like I said don't freak out. I said this to bolster my claim). Anyway the difference is about 3900 bucks so I'm hoping they just say lets get him done and over with. We will see.
Anyway, hope to hear from Tim at Boardwalk today.

 

I'd be in my rental car today, driving to the hospital to get an MRI for that pain you've gotten in your neck and spine to see if it has something to do with all your headaches....

 

I agree...or tell me you will waive the medical fees for a fair value on your car. My wife used to work for an injury attorney.

 

Tell them you will take offer PLUS the car to part out

 

I recieved sales tax on a totaled car settlement about ten years back. I believe I would demand the retail sales value and sales tax since the car was not that old. Aren't you going to buy new again? Heck, here in Georgia you don't pay sales tax for the trade in value and and that's a good reason to demand the sales tax portion. Most Atlanta metro counties get 7% sales tax and that's nearly $3000 on a $42,000 vehicle. Just my 2 cents.

 

Get an attorney that handles auto claims. each state has regulations on what is paid. You need to know what you are entitled to before you finalize. Most carriers have a different book, not NADA trade or retail, but the prices fall somewhere in between. For 4k in question, it is worth asking the right questions.

Good luck.

FYI, I had a total loss 07 Tahoe. Geico wanted to give me used value as the tuck was an 07 but 3 months old. I researched it, and found since I had bought the Tahoe as an 07 "leftover" in 08, New York Regulations required THEY BUY ME A NEW TRUCK WITH SALES TAX minus the milage/depreciation, It was a HUGE difference, so be sure to check this out. They are not in the business of paying claims.

 

unfortunately the fact is even if your car had low miles on it, it is still a used car with the normal wear and tear even if minimal.

No court that I know of will award you a brand new car as a replacement for the used car that was totaled. Insurance companies will look at Autotrader and Ebay believe or not ( they did when my son totaled his 2000 coupe ) and get an idea what you can go out and buy one for, more than likely a private party if needs to be. Insurance companies know that dealer prices are inflated and negotiated so the more accurate value of a car is the private value not the dealer price.

The only valid argument you would have is the sales tax. they will tell you they do not pay for the sales tax, but eventually they should bump up the price to allow for the sales tax to be figured in your settlement.

If the wife wants to buy a new car to replace her daily driver used car, that's her choice. The insurance is not liable for that. .02 cents