Live and learn....
07-17-2002, 07:45 PM
#1
Instructor
Thread Starter
Live and learn....
Just thought I'd share a lesson learned with everyone on the board.
Monday morning I walked out of my house and found my daily driver gone. I reported it stolen to both the police and my insurance company. I received a call this afternoon that they had found it with the engine, transmission, stereo, and seats gone. While they have not made a ruling yet, the insurance rep told me that it sounds as if it will be a total loss write-off and that they would be paying the <a href="http://www.nadaguides.com/" target="_blank">NADA</a> blue book value of the car. 1995 Acura Intgra GS-R, $9,100. Sounds fair. So, out of curiosity, I looked up my 1985 911 Turbo-look. $19,450. Definatly lower than what I paid and what the <a href="http://www.pca.org/members/valuation.html" target="_blank">PCA valuation form</a> quoted. I called the insurance company and they said that they can put an agreed upon value clause in my contract. They were very explicit that they would not adjust the value of the car after a total loss claim was filed. I thought I would pass this experience along for everyone on the board.
Monday morning I walked out of my house and found my daily driver gone. I reported it stolen to both the police and my insurance company. I received a call this afternoon that they had found it with the engine, transmission, stereo, and seats gone. While they have not made a ruling yet, the insurance rep told me that it sounds as if it will be a total loss write-off and that they would be paying the <a href="http://www.nadaguides.com/" target="_blank">NADA</a> blue book value of the car. 1995 Acura Intgra GS-R, $9,100. Sounds fair. So, out of curiosity, I looked up my 1985 911 Turbo-look. $19,450. Definatly lower than what I paid and what the <a href="http://www.pca.org/members/valuation.html" target="_blank">PCA valuation form</a> quoted. I called the insurance company and they said that they can put an agreed upon value clause in my contract. They were very explicit that they would not adjust the value of the car after a total loss claim was filed. I thought I would pass this experience along for everyone on the board.
07-18-2002, 07:53 AM
#2
Race Car
Sorry to hear that, as it's certainly bad news. 
Can I suggest that you ask your insurance company what they would sell you the car back for? Is the body, etc. still in good condition? I figure you could get a motor/trans, seats and whatever you need for around 10K??
The same happened to a local gentleman down here, except they just gutted the interior...broke the windshield and took the wheels...after wrecking it.
He bought the car back (1985 Turbo-Look) for around $3000 and was able to have everything fixed for around 5K...after getting a TOTAL settlement. It still remains a nice car!
Just a suggestion...depending on how much you loved your "daily driver".
Can I suggest that you ask your insurance company what they would sell you the car back for? Is the body, etc. still in good condition? I figure you could get a motor/trans, seats and whatever you need for around 10K??
The same happened to a local gentleman down here, except they just gutted the interior...broke the windshield and took the wheels...after wrecking it.
He bought the car back (1985 Turbo-Look) for around $3000 and was able to have everything fixed for around 5K...after getting a TOTAL settlement. It still remains a nice car!
Just a suggestion...depending on how much you loved your "daily driver".
