another totalled FD - need legal advice! Please HELP!!!
04-11-03, 10:55 AM
#26
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I had my 93 Probe totalled a couple years ago due to a hydrolocked motor. They (State Farm) offered me more then I could have ever sold the car for. They told me that if I bought it back immediatly, that the car would not carry a salvage title, which it didn't. I could have made the repairs myself and pocketed about $2000, but instead I sold it for parts and broke even.
04-11-03, 11:27 AM
#27
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Originally posted by GoRacer
Most companies will screw you for aftermarket parts but sometimes they get screwed instead. Yeh, payback. If you don't pay extra for your aftermarket stuff, they are only liable for stock. But that doesn't allways work in their favor.
My buddies car stereo was stolen. They said they would only replace with the factory unit. He said he wanted the same aftermarket one which was only $250. They said they didn't care what he wanted. They then sent him a check for $800.00 to replace the factory unit which was originaly sold with the car at time of invoice. Took the check, changed insurance companies, **** you very much!
Explorer-On my Honda, they didn't want to cover my Momo' rims. They said only the stock wheels they were on the sale invoice. Ok, those were magnesium alloy and cost more then the momo's! **** you very much! Although I did get reamed on the stereo, since I didn't use an attorney.
Farmers-On my motorcycle, no place repairs them so any estimates are for replacement parts. The dealers parts for a portion of the bike was more then the bike itself. A swingarm, a rim, a gas tank and body kit. They said I wasn't allowed to get a second estimate. It doesn't work that way with bikes. They offered to total the bike and stick me with a $2k balance. I called my attorney which called the stupid biach which batenly lied and told me I was screwed and nothing I could and so on. She then offered to fix the bike but give me a salvaged title. Not acceptable. Another call from my attorney. She then offered to pay the loan off in full and keep the bike. I gave her the bike and title but still felt screwed after mods, custom helmet and only a few though on the odometer. I asked for the bike back. She said the was impossible. Once I gave her the title i'm screwed, blah blah blah. My attorney reamed her *** with a cactus! My loan was paid in full and I was given the bike for free. I then sold later to a racer that didn't care or need the salvaged title. **** you very much.
Is there a customer service lesson to be learned here?
Anyhow, i've said here bore over and over. Do not shop for insurance using low rates, you use customer satifaction and pay a little more if you want them to pay you alot more in return (without headaches).
Most companies will screw you for aftermarket parts but sometimes they get screwed instead. Yeh, payback. If you don't pay extra for your aftermarket stuff, they are only liable for stock. But that doesn't allways work in their favor.
My buddies car stereo was stolen. They said they would only replace with the factory unit. He said he wanted the same aftermarket one which was only $250. They said they didn't care what he wanted. They then sent him a check for $800.00 to replace the factory unit which was originaly sold with the car at time of invoice. Took the check, changed insurance companies, **** you very much!
Explorer-On my Honda, they didn't want to cover my Momo' rims. They said only the stock wheels they were on the sale invoice. Ok, those were magnesium alloy and cost more then the momo's! **** you very much! Although I did get reamed on the stereo, since I didn't use an attorney.
Farmers-On my motorcycle, no place repairs them so any estimates are for replacement parts. The dealers parts for a portion of the bike was more then the bike itself. A swingarm, a rim, a gas tank and body kit. They said I wasn't allowed to get a second estimate. It doesn't work that way with bikes. They offered to total the bike and stick me with a $2k balance. I called my attorney which called the stupid biach which batenly lied and told me I was screwed and nothing I could and so on. She then offered to fix the bike but give me a salvaged title. Not acceptable. Another call from my attorney. She then offered to pay the loan off in full and keep the bike. I gave her the bike and title but still felt screwed after mods, custom helmet and only a few though on the odometer. I asked for the bike back. She said the was impossible. Once I gave her the title i'm screwed, blah blah blah. My attorney reamed her *** with a cactus! My loan was paid in full and I was given the bike for free. I then sold later to a racer that didn't care or need the salvaged title. **** you very much.
Is there a customer service lesson to be learned here?
Anyhow, i've said here bore over and over. Do not shop for insurance using low rates, you use customer satifaction and pay a little more if you want them to pay you alot more in return (without headaches).
Ins. GoRacer
04-11-03, 11:48 AM
#28
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Originally posted by rallimike
I spent 25 years as an insurance agent; most of this is BS. Most of the time, the insurance company gets bids from a salvage yard. You can argue that your car was worth more than 'book'. Some companies will take that into account, but don't expect thousands more. Generally, the fact that you just put this or that new part on the car will get you nothing. They will let you buy it back, if you match the salvage bid. You will end up with a salvage title. Lastly, they are usually doing you a favor to total the car. You are usually better off to move on to another car. Note I said usually. I have NEVER seen an attoney get more for a car than the insured was going to get anyway.
I spent 25 years as an insurance agent; most of this is BS. Most of the time, the insurance company gets bids from a salvage yard. You can argue that your car was worth more than 'book'. Some companies will take that into account, but don't expect thousands more. Generally, the fact that you just put this or that new part on the car will get you nothing. They will let you buy it back, if you match the salvage bid. You will end up with a salvage title. Lastly, they are usually doing you a favor to total the car. You are usually better off to move on to another car. Note I said usually. I have NEVER seen an attoney get more for a car than the insured was going to get anyway.
Black se7en, don't let them screw you like they screwed me, we are the reason that they make their living!!!
Last edited by sexxy7; 04-11-03 at 11:51 AM.
04-11-03, 12:26 PM
#29
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I'm not giving up!
I'm fighting this till the end!
I am definately not going to settle for what they're offering right now.
I'm spending my time reading up on state laws regarding insurance here at work right now. haha (Insead of working...)
I just hope I have some leverage with them and find something I can use.
sexxy7 - Have you settled everything with your insurance yet? How did that all come out?
I'm fighting this till the end!
I am definately not going to settle for what they're offering right now.
I'm spending my time reading up on state laws regarding insurance here at work right now. haha (Insead of working...)
I just hope I have some leverage with them and find something I can use.
sexxy7 - Have you settled everything with your insurance yet? How did that all come out?
04-11-03, 12:45 PM
#30
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Well, I should've bought back the car, but I was so upset at the time I didn't care about anything! They didn't give me **** for the car and they still haven't paid for my doctor bills that I keep sending them! Whether or not, they give me a check to have the surgery, I still have to have it or my job is on the line! I might just go ahead and have the surgery because I can't keep waiting around for them to actually do some work!!! But if I have the surgery on my money, I promise you,my attorney and I will NEVER stop bugging them about paying me back for it! It's really sad that they try to fight cases like this, because I was injured and they aren't doing **** about it! Oh well, after the surgery I'll fight them in court! I'll keep you updated! 
Nicole
Nicole
04-11-03, 01:07 PM
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Well, heres some useful information I found :
from the Department of Insurance:
"If your vehicle is declared a total loss, then the insurance company must replace it with a comparable vehicle or pay the actual cash value of your vehicle. The actual cash value of a vehicle is the fiar market price of the vehicle if it was offered for sale in your local area. The amount of the settlement must include sales tax and licese fees. If you are not advised at the time of settlement where a comparable vehicle can be purchased, and you are unable to locate one on your own within 35 days after receiving the claim payment, then you need to notify the insurer. The insurere must then re-open the claims file and make further effors to adjust your loss."
"The insurer must offer a fair settlement. If you suffer a total loss, then the suettlement must include taxes, license, and transfer fees. The settlement must reflect the value of a comparable vehicle of like kind, condition, and quality."
from the Department of Insurance:
"If your vehicle is declared a total loss, then the insurance company must replace it with a comparable vehicle or pay the actual cash value of your vehicle. The actual cash value of a vehicle is the fiar market price of the vehicle if it was offered for sale in your local area. The amount of the settlement must include sales tax and licese fees. If you are not advised at the time of settlement where a comparable vehicle can be purchased, and you are unable to locate one on your own within 35 days after receiving the claim payment, then you need to notify the insurer. The insurere must then re-open the claims file and make further effors to adjust your loss."
"The insurer must offer a fair settlement. If you suffer a total loss, then the suettlement must include taxes, license, and transfer fees. The settlement must reflect the value of a comparable vehicle of like kind, condition, and quality."
04-11-03, 01:17 PM
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I'm really sorry to hear your stories with insurance. Best of luck to both of you - se7en and sexxy.
I'm going through a similar situation right now with Allstate over a modified 92 300zx which was a total loss. Of course I'm trying to get something for the 4k I spent last year alone. We will see....
Anyhow, For future reference I've discovered that if you have your car appraised BEFORE the loss, the insurance company has a special policy (at least allstate that is) where they will simply pay out the flat appraised figure. Go to any reasonable dealer and toss them $50-100 and have them give you an appraisal taking into account all the modifications. I know of one in boulder, co that I can recomend if anyone would like.
As far as I can tell this is the best "insurance" you can have on your car. I'd suggest calling your company and seeing if they have a similar policy.
Best of luck to both. Perhaps we can continue to share any information on the subject as I'm finding out quite a bit of useful information as I go along.
I'm going through a similar situation right now with Allstate over a modified 92 300zx which was a total loss. Of course I'm trying to get something for the 4k I spent last year alone. We will see....
Anyhow, For future reference I've discovered that if you have your car appraised BEFORE the loss, the insurance company has a special policy (at least allstate that is) where they will simply pay out the flat appraised figure. Go to any reasonable dealer and toss them $50-100 and have them give you an appraisal taking into account all the modifications. I know of one in boulder, co that I can recomend if anyone would like.
As far as I can tell this is the best "insurance" you can have on your car. I'd suggest calling your company and seeing if they have a similar policy.
Best of luck to both. Perhaps we can continue to share any information on the subject as I'm finding out quite a bit of useful information as I go along.
04-11-03, 02:33 PM
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Originally posted by Black se7en
from the Department of Insurance:
"If your vehicle is declared a total loss, then the insurance company must replace it with a comparable vehicle or pay the actual cash value of your vehicle. ..."
from the Department of Insurance:
"If your vehicle is declared a total loss, then the insurance company must replace it with a comparable vehicle or pay the actual cash value of your vehicle. ..."
04-11-03, 03:34 PM
#36
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Originally posted by rallimike
I spent 25 years as an insurance agent; most of this is BS. Most of the time, the insurance company gets bids from a salvage yard. You can argue that your car was worth more than 'book'. Some companies will take that into account, but don't expect thousands more. Generally, the fact that you just put this or that new part on the car will get you nothing. They will let you buy it back, if you match the salvage bid. You will end up with a salvage title. Lastly, they are usually doing you a favor to total the car. You are usually better off to move on to another car. Note I said usually. I have NEVER seen an attoney get more for a car than the insured was going to get anyway.
I spent 25 years as an insurance agent; most of this is BS. Most of the time, the insurance company gets bids from a salvage yard. You can argue that your car was worth more than 'book'. Some companies will take that into account, but don't expect thousands more. Generally, the fact that you just put this or that new part on the car will get you nothing. They will let you buy it back, if you match the salvage bid. You will end up with a salvage title. Lastly, they are usually doing you a favor to total the car. You are usually better off to move on to another car. Note I said usually. I have NEVER seen an attoney get more for a car than the insured was going to get anyway.
04-11-03, 04:11 PM
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I think the point is that insurance companies are using practices which dont account for the modifications because it is to their advantage financially and they can justify it with their policy.
As modifiying cars is becoming more and more popular insurers will have to evolve to accomodate the customers as these types cases and modified cars are more and more prominant.
In the meantime the best we can do as insurees (sp?) is take proper measures to protect ourselves, like I've recomended above. Or to get special "hot rod"insurance policies. Which tend to cost a lot not insure anyone under 25 or anyone without a perfect driving record.
I'ts just very disconcerting as we pay for insurance thinking that we will be covered or "in good hands" while actually the reality is that you must protect yourself from your insurance company in many of these situations.
As modifiying cars is becoming more and more popular insurers will have to evolve to accomodate the customers as these types cases and modified cars are more and more prominant.
In the meantime the best we can do as insurees (sp?) is take proper measures to protect ourselves, like I've recomended above. Or to get special "hot rod"insurance policies. Which tend to cost a lot not insure anyone under 25 or anyone without a perfect driving record.
I'ts just very disconcerting as we pay for insurance thinking that we will be covered or "in good hands" while actually the reality is that you must protect yourself from your insurance company in many of these situations.
04-11-03, 05:13 PM
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Originally posted by GoRacer
My reply's weren't to put down "all" insurance companies. As RX7WILL state State Farm was excellent! I also mentioned that unless you purchase "extra" coverage for aftermarket parts (which skyrocket the premium) then they are only entitled to value stock parts. The problem is, the Touring model "IS" worth way more then the high blue book!!! 25% more as I described, which means they have to go by fair market value. The blue book is only a tool for car dealers and banks, that's it! It's not meant for insurance companies, that's what apraisers are for. Are all insurance companies bad? again, no ...look how State Farm took care of rx7will. Is a new engine considered an aftermarket part? NO If sexxx7 had to pay $3k more to get in to another "same model" vehicle, did she get "fair market value" NOOOO! The replacement has twice the milage and may need the engine rebuilt, which she just paid! Now if she has to shell out another $4k for the engine, was she fairly compensated? Did she get an equal value replacement as the insurance was intended to do when she went into contract with them?
My reply's weren't to put down "all" insurance companies. As RX7WILL state State Farm was excellent! I also mentioned that unless you purchase "extra" coverage for aftermarket parts (which skyrocket the premium) then they are only entitled to value stock parts. The problem is, the Touring model "IS" worth way more then the high blue book!!! 25% more as I described, which means they have to go by fair market value. The blue book is only a tool for car dealers and banks, that's it! It's not meant for insurance companies, that's what apraisers are for. Are all insurance companies bad? again, no ...look how State Farm took care of rx7will. Is a new engine considered an aftermarket part? NO If sexxx7 had to pay $3k more to get in to another "same model" vehicle, did she get "fair market value" NOOOO! The replacement has twice the milage and may need the engine rebuilt, which she just paid! Now if she has to shell out another $4k for the engine, was she fairly compensated? Did she get an equal value replacement as the insurance was intended to do when she went into contract with them?
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