Topic: Update on my wrecked 82CE
in Forum: C3 General Discussion
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The ins co called and said that it's going to cost about $17,000. Should I have them total it out and try for $23,000 or won't they go for it?
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I would go for as much as they will pay and make sure and
get the car back too. Worse case: $17k plus the car.
Can you rebuild for $17k? Or bank the $17K and sell car???
Steve, Lifetime Member #129
74 coupe 4 speed 350, 54K actual miles,
all original; paint, interior, engine,
split bumper. #'s match. 2nd owner, no stress cracks.
Lifetime MemberDillsboro, IN - USA
Joined: 8/3/2003
Posts: 182
Vette(s): 1969-427/435hp T top Tri-power
2000-Mag Red six speed convertible
Just remember that if the ins co totals the car and you keep it that
you will end up with a salvage title. That is the way most states work.
You need to check. This changes the whole picture down the road.
Butch
Lifetime MemberFrederick, MD - USA
Joined: 2/20/2003
Posts: 548
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I was under the impression you had Stated value insurance...
so if the car was insured for 23K...The insurance company has 3 choices...
1. fix the car and pay the shop 17K
2. Pay you 23K and keep the car...
3. Pay you 17K GIVE YOU BACK THE CAR...
I have no idea what I would do but 17K indicated a pretty hard hit so I would give serious though to letting them total it...
Bob G.
so if the car was insured for 23K...The insurance company has 3 choices...
1. fix the car and pay the shop 17K
2. Pay you 23K and keep the car...
3. Pay you 17K GIVE YOU BACK THE CAR...
I have no idea what I would do but 17K indicated a pretty hard hit so I would give serious though to letting them total it...
Bob G.
Bob
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zgator I hope your feeling better! Because here it comes watch yer backside
they are trying to lowball ya, they went out and said that's the fair market value so here ya go. Remember what I said about diminished value even if they fix it perfectly your cars value has dropped because of the wreck and they owe you the difference on it. (Disclaimer I hate insurance comanies) Don't let them get over on you, just be persistant and patient and keep negotiating untill you feel right. They can't settle until you do.
they are trying to lowball ya, they went out and said that's the fair market value so here ya go. Remember what I said about diminished value even if they fix it perfectly your cars value has dropped because of the wreck and they owe you the difference on it. (Disclaimer I hate insurance comanies) Don't let them get over on you, just be persistant and patient and keep negotiating untill you feel right. They can't settle until you do. I was under the impression that if the repairs exceeded 50% of the cost of the vehicle then it would usually be a total loss? I feel for ya man, not the best time of year to be dealing with this..
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Being a CE car, the price for repairs will be a bit higher than normal, because of the paint, the hood, the rims, and the rear glass, if damaged. So, the estimate may be higher than what you might think compared to the actual damage.
It still sux that your car, AND you, were hurt. The fact is, the actual, real value of the car will never be the same now, no matter how well it is repaired..that really needs to be taken into account when settling with the ins. You have to be satisfied with the repairs, and you have to be able to feel safe driving it after the repairs.
Was it mainly cosmetic damage, or is there structural(frame/cowl) damage, also?
[QUOTE=zgator]He said it's worth $25,000...[/QUOTE]
Not anymore...
It still sux that your car, AND you, were hurt. The fact is, the actual, real value of the car will never be the same now, no matter how well it is repaired..that really needs to be taken into account when settling with the ins. You have to be satisfied with the repairs, and you have to be able to feel safe driving it after the repairs.
Was it mainly cosmetic damage, or is there structural(frame/cowl) damage, also?
[QUOTE=zgator]He said it's worth $25,000...[/QUOTE]
Not anymore...
Joel Adams
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Michael, can you post a picture? Might get more advice from everyone and how much wrecked car is worth or worth fixing??? Just an idea....
Sorry for everything you must being going thru.
Steve, Lifetime Member #129
74 coupe 4 speed 350, 54K actual miles,
all original; paint, interior, engine,
split bumper. #'s match. 2nd owner, no stress cracks.
in Forum: C3 General Discussion
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