993 C4S totaled. Need advice on value
07-03-2016, 07:58 PM
#31
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Regarding Geico, they may be one of the lowest insurance company, but their adjuster is very rude. Since the car is at a body shop and I did not agree with their offer, they said that I have to pay the storage charges which is $100/day. So they use high pressure tactics to quickly agree to their terms.
So sorry about the loss, and glad that you are ok. Hope you get an equitable settlement. I am glad to see how well these cars survive accidents.
07-03-2016, 10:03 PM
#32
Instructor
Before worrying too much about the car's value, take care of yourself.
I'm not sure how the process is down south with private insurers, but do keep track of medical points and even retain a personal injury lawyer if the need arises. Ours here do not charge, only taking a portion of the final injury payout - this is after you are all healed up that is. Ins co's typically rush through the medical treatment and recovery process to incur the least amount of physio/rehab/doctor fees.
You have to look out for yourself. Best of luck.
I'm not sure how the process is down south with private insurers, but do keep track of medical points and even retain a personal injury lawyer if the need arises. Ours here do not charge, only taking a portion of the final injury payout - this is after you are all healed up that is. Ins co's typically rush through the medical treatment and recovery process to incur the least amount of physio/rehab/doctor fees.
You have to look out for yourself. Best of luck.
07-04-2016, 12:36 AM
#34
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Get a formal car appraisal done by an expert ... just search the forum for references.
07-04-2016, 12:26 PM
#37
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I wouldn't trust Geico, or any of the mass insurers, with any vehicle that was more than a work horse/commuter. I've been with AAA since the late 80's, and I won't trust them for my P-car. Hope it works out for you.
07-04-2016, 02:19 PM
#38
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Geico is turning out to be outright fraud. One of the cars they put in the comp is a 1997 993 4S with only 35K miles for $76,900. It just seemed odd for to be priced so low with only 35K miles. On further checking I found that the car has salvage title. A tree fell on it and the car was totaled.
To put a salvaged car in the comp is out right dishonest and extremely bad faith. I will be hiring an attorney.
To put a salvaged car in the comp is out right dishonest and extremely bad faith. I will be hiring an attorney.
07-04-2016, 03:29 PM
#39
For what it's worth, Hagerty - the collector car insurance company - publishes their car valuations on-line. Here's the link to a 1997 C4S: https://www.hagerty.com/apps/valuati...911-Carrera_4S
07-04-2016, 03:32 PM
#40
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I'm in the same boat as well with allstate..wife was hit by teenage motorist (completely his fault)Our car was totaled. Whole experience was and continues to be a nightmare. On the bright side atleast geico's initial offer of 78k seems in the ballpark.
07-04-2016, 04:07 PM
#41
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For what it's worth, Hagerty - the collector car insurance company - publishes their car valuations on-line. Here's the link to a 1997 C4S: https://www.hagerty.com/apps/valuati...911-Carrera_4S
07-04-2016, 05:13 PM
#42
Your insurance company's initial offer was $78,000. The consensus here seems to feel the valuation is somewhere around $85,000. If it was me I wouldn't waste my time (or money) on an attorney. I'd go a few rounds with the insurance company armed with true comps. Certainly point out the BS attempt to include a salvaged vehicle as part of their attempt to skew the numbers. See if you can squeeze $5k or so out of them (aim higher but settle there) and move on. Be thankful you weren't seriously injured. With $82k-85k cash burning a hole in your pocket and a little patience you can definitely replace your C4S with a similar or better vehicle. Heck, I might even know someone willing to sell a more valuable C2S for that amount of cash.
07-04-2016, 05:34 PM
#43
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Your insurance company's initial offer was $78,000. The consensus here seems to feel the valuation is somewhere around $85,000. If it was me I wouldn't waste my time (or money) on an attorney. I'd go a few rounds with the insurance company armed with true comps. Certainly point out the BS attempt to include a salvaged vehicle as part of their attempt to skew the numbers. See if you can squeeze $5k or so out of them (aim higher but settle there) and move on. Be thankful you weren't seriously injured. With $82k-85k cash burning a hole in your pocket and a little patience you can definitely replace your C4S with a similar or better vehicle. Heck, I might even know someone willing to sell a more valuable C2S for that amount of cash.
$78 + $5 more + sales tax ($8-ish) = $91
07-04-2016, 06:09 PM
#44
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The fact that their comp had a salvage title is actually quite good for you. It gives you a clear path to negotiate.
Your car is clearly worth substantially more than the salvage comparison...
/
Your car is clearly worth substantially more than the salvage comparison...
/
07-04-2016, 06:17 PM
#45
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$78K...no $85k. $79K...no $85K. $81K... settled $81K..
OP ... good news that you and yours are safe, OK.
Many a rennlist'r here having taken notice of the ever escalating 993 market values,,,, each re-accessing their insurance coverage. To the point, the usual collision/comprehensive policy language with its "actual cash value" metric was/is wrought with 993 value ambiguity. FWIW,, after review of our own auto policy's "ACV" language, I read this as an opportunity for the policy pricing structure appeared to not account for the 993 models meteoric ACV increase. ..... About face; After some discussion we elected to go with a collector automobile policy (stated $ value) dropping from the usual & customary Coll./Comp insurance thru Allstate.
Considering your "actual cash value" policy purchase,, the Geico knee jerk $72,000 evaluation (+ taxes) as an initial "actual cash value" amount is not an awful position ... Signal to Geico Insurance that $85,000 is the value and their case management is behind them ....
Life's to short for attorney's in situations as developed as your sharing with us. .. $80K something. Settled !!
All the very best -
Many a rennlist'r here having taken notice of the ever escalating 993 market values,,,, each re-accessing their insurance coverage. To the point, the usual collision/comprehensive policy language with its "actual cash value" metric was/is wrought with 993 value ambiguity. FWIW,, after review of our own auto policy's "ACV" language, I read this as an opportunity for the policy pricing structure appeared to not account for the 993 models meteoric ACV increase. ..... About face; After some discussion we elected to go with a collector automobile policy (stated $ value) dropping from the usual & customary Coll./Comp insurance thru Allstate.
Considering your "actual cash value" policy purchase,, the Geico knee jerk $72,000 evaluation (+ taxes) as an initial "actual cash value" amount is not an awful position ... Signal to Geico Insurance that $85,000 is the value and their case management is behind them ....
Life's to short for attorney's in situations as developed as your sharing with us. .. $80K something. Settled !!
All the very best -