Rear ended UPDATE: PICS
04-25-2012, 02:45 PM
#136
Copart is the main insurance salvage auction company in the US. Cars go to a big lot where they get shuffled around by forklift until they get released to be sold in a sealed bid auction. Limited to dealers and junkyards it is how insurance companies sell wrecks.
Here they just posted photos to get bids and that is how they will determine salvage value. While it is true that some owners were able to buy back their car for little money it is up to the insurance company to decide how to set salvage value. If you get your $20K seems you are getting all that you paid for and agreed to. Just no windfall on selling off parts from a very low buy back.
You will get your first right of refussal then they get to recoupe some of their loss by selling the wreck. And yes that car will get "fixed" and put back on the road. Just not fixed right only so it LOOKS O K enough to sell. About 1/2 of ALL totaled wrecks in the U S end up back on the road. Many should never be, but that is another story.
Here they just posted photos to get bids and that is how they will determine salvage value. While it is true that some owners were able to buy back their car for little money it is up to the insurance company to decide how to set salvage value. If you get your $20K seems you are getting all that you paid for and agreed to. Just no windfall on selling off parts from a very low buy back.
You will get your first right of refussal then they get to recoupe some of their loss by selling the wreck. And yes that car will get "fixed" and put back on the road. Just not fixed right only so it LOOKS O K enough to sell. About 1/2 of ALL totaled wrecks in the U S end up back on the road. Many should never be, but that is another story.
04-25-2012, 04:39 PM
#137
Joe,
Sorry to hear about all the problems you're having with this, what a shame!
I remember when I got rear-ended 7 yrs ago, my total bill ended up being ~$11,500, USAA took care of everything. Though, I understand they now offer collector car insurance through American Collectors.
$7,700 sounds about right for the damage shown in the pictures, it's just too bad Hagerty is giving you a hard time (that's not right..)
Cheers,
Sorry to hear about all the problems you're having with this, what a shame!
I remember when I got rear-ended 7 yrs ago, my total bill ended up being ~$11,500, USAA took care of everything. Though, I understand they now offer collector car insurance through American Collectors.
$7,700 sounds about right for the damage shown in the pictures, it's just too bad Hagerty is giving you a hard time (that's not right..)
Cheers,
04-25-2012, 05:01 PM
#138
Vegas, Baby!
Rennlist Member
Rennlist Member
Thread Starter
The Payoff
Here's the latest!
I just spoke with my adjuster. The auction price for the buy back was set at $2250.00. I,m going to pass, and let the car go.
I'm sending in my title, and Hagerty will send me a check for the agreed value.
I'm very happy with this settlement.
FWIW, I hope that the car is parted out, rather than repaired and put back on the road.
I just spoke with my adjuster. The auction price for the buy back was set at $2250.00. I,m going to pass, and let the car go.
I'm sending in my title, and Hagerty will send me a check for the agreed value.
I'm very happy with this settlement.
FWIW, I hope that the car is parted out, rather than repaired and put back on the road.
