James Bailey

Actually the threshold for totalling is much lower..."However, given the sizable expense of fixing a damaged car, compensating you for lost resale value, rental car costs and so on, it's easy to understand why insurance companies often throw up their hands long before the repair bill exceeds the car's ACV. For example, some companies consider a wrecked vehicle a total loss when the total cost to repair it exceeds just 51 percent of the vehicle's ACV. Others don't give up until the repair bill hits the 80-percent mark."
So depends on the insurance company..... and it is their choice.

billyxking

Given this I'm screwed.

I'm going to stop by to see bill and ron today at mackenna euro collision center.

mike77

What a pointless act to a lovely car. I hope you can get it fixed.

Here in the UK we can get classic car insurance policies where you can set an agreed value on the car as opposed to the market value. Is that something you guys have in the US?

billyxking

Ok guys. Here is an update. I took the day off from work and drove to Euro Collision Center. Spoke directly with Ron and Bill. They're great guys and they gave me an estimate at $5795. This sounds like a total because the CPI for the '86 928 in good condition is ~$7250. GEICO considers anything totaled at 70% of market price. I don't see GEICO giving me more than 7250 for market, which is best case scenario. They'll give me market $ - $500 deductible - salvage cost. I guess I'm stuck looking for a new car and parting out this '86 or pocketing the cash and driving around with a big ugly dent on the frame.

Thanks for the help and the condolences.

billyxking

BTW. Apparently they think they found the perp, and I meet with GEICO tomorrow morning.

Tony

Make HIM pay! when you find out his name and perhaps his address let us know.

jcb928

Will Geico cover the rope for the lynching?

billyxking

Yes. I will find out more details tonight.

Apparently someone in the apartment complex has a bro that is an off duty cop who saw the perp do it and arrested him. This is all hearsay though. I'm actually surprised that they didn't put two and two together when I called the vandalism report in like an hour after it happened.

mickster

A report gets filled out by hand typically and then entered. It's not CSI unfortunately where everything gets tidied up in 60 minutes with 24 minutes of advertising.

My fear is that Geico is going to screw you-however-the estimate at least helps you. They would have low-balled you for the work and then you may have gotten a crappy collision and paint job done by a poor quality shop-lifetime warranty or not...

I have Geico for my daily driver's and I know to take it to the shop first-not the drive-in center or meet the estimator at my place thanks to my buddies in collision.

Best thing you can do right now is pull recent sales from Ebay for similar cars, cars on AutoTrader.com, Cars.com and Craigslist and build up a case for a higher value for the car. The 2 things you want to have happen is that it gets fixed or that you don't get $3000 for the car when it is totalled. Do as much homework as possible.

I would prepare to find another one-sadly...

Collector's insurance is great if you have a garage to store the car in-otherwise they typically won't write policies and they don't like daily drivers...

Good luck and hope it ends in your favor.

Chances are suing the guy who through the Cinder Block will get you nothing but aggravation and lawyer's bills. If he has renter's, homeowner's or an umbrella policy-you may have something to sue for-but otherwise he probably has nothing...

SeanR

People like this dude really need to be strung up and castrated.

Mark Anderson

If Greico wants to total it there will probably be some negotiations back and forth. When they get close to a number you like agree to take it but only if you " retain salvage" meaning you keep the car. They won't put much value in it usually. I've had many customers do this with success.

billyxking

Thanks for the advice. Having a paper quote will eliminate much of the hassle tomorrow, although being able to realistically value the car around 6-7k will be the toughest part. Definitely need to know what to expect when I go into negotiations. Thanks.

Agreed.

The key is to minimize the salvage amount and maximize the before-the-cinder-block-hit-it value. I'll start searching around the internets. Also they're probably using old car price guides.

mickster

+928 ...but not until we throw some cinder blocks at him first...

snoz

What the hell is wrong with people? I guess they just see a Porsche and assume we can afford/just get another.

jcorenman

Value is key. But I always thought that insurance companies liked to use NADA values for classic cars, does anybody know for sure?

In any event, NADA lists '86 928S at $9,250 / $11,200 / $15,600 (low/average/high)

Linky: http://www.nadaguides.com/Classic-Ca...r-Coupe/Values

That's got to help, I would think... And good luck!