ACK! I need help to keep my Z from being totaled!

[blitzkraig]

So I got rear ended in traffic last week, no biggie for me really, I can fix it all myself. But my insurance is trying to say the car is technically totaled, since it's over 5k in damages. But here's the rub, me n my pops decided to have the car insured at 10k after I finished restoring it 2 years ago, but the insurance company apparently didn't do that and never told us. So now they want proof saying the car is worth more than the value of the damages. I've got receipts for 12k worth of new parts from the resto, but they want resale value. I figure in the condition my car was in before the accident I should be able to get 7k easy. I was wondering what you guys have seen Zs like mine go for in the past few years (check the gallery to see what I've done to mine). This is all just a big headache that I don't have a lot of spare time to deal with so any help would be greatly appreciated!

[boyblunda]

Craig

Really sorry to hear about your car but relieved that you think it is able to be repaired.

Dr Rich was in a similar situation in recent times and posted a thread http://www.classiczcars.com/forums/showthread.php?t=17562&highlight=Insurance

I thought there were some excellent responses that came from members that might be of value to you here.

All the best with your negotiations.

Dave

[seerex]

Well I would also include your time at your shop rates and include that in as well as the parts. I would say you could be in the $10-14 range and maybe higher. Alot depends on where the car is located. In the north east or in the rust belt south they are worth quite a bit more. I found with my Z car expierences with insurance people the more good info you give them , sale ads for Z cars with similar condition even ebay items or barrett jackson or just a huge pile of paid bills and proof of money spent on the car they might either want the cars fixed or atleast be more inclinded to give a fair value but you infortunately are put in the prove otherwise situation. By the way who is your insurance and did the person who hit you leave or were they uninsured?

[texasz]

I don't know what it would cost but you may consider having the car appraised by a certified auto appraiser. Be sure to tell them that you need an appraisal based upon on the car's condition prior to the accident...show them the receipts and as previously mentioned have the appraiser add in your shop labor.

[MikeZcar]

Hire an Arbitrator, it's your best way to go.

[Arne]

I don't know what it would cost but you may consider having the car appraised by a certified auto appraiser. Be sure to tell them that you need an appraisal based upon on the car's condition prior to the accident...show them the receipts and as previously mentioned have the appraiser add in your shop labor.

Agreed. I had this done with an old MG that I restored ground up. A year and a half later I had a $4000 dollar claim on it, they never said a word, just paid to have it fixed. I highly recommend that anyone who has a nice older Z get it appraised. I think I paid about $100 for the appraisal.

[Pennyman]

I don't know what it would cost but you may consider having the car appraised by a certified auto appraiser

That's just what I was thinking too. Sorry to hear that your Z got hit, mine was hit about a year ago too. Hehe, lucky you though, seriously, you must know more about bodywork than most shop owners! hehe Anyway, goodluck. I'll stop by your new shop soon.

[Marty Rogan]

But here's the rub, me n my pops decided to have the car insured at 10k after I finished restoring it 2 years ago, but the insurance company apparently didn't do that and never told us.

Let's slow this down a moment. Are you saying that you asked for a "stated value policy" for $10K? Did you pay them the premiums for that? If you paid the premiums for that policy, then they are contractually obligated to abide by the terms of a stated value policy. You should ask to talk to a regional supervisor. Something sounds fishy.

After you have chased that down, just remember, you don't have to accept their offer. Consider it the start of negotiations. My first Z was totalled in a fire after 7 years of restoration. It was in show condition. They offered $1,900 (in 1987). After meeting with the regional claims supervisor, I walked out with a check for $6,900. I had receipt, pictures, comparable car ads, etc.

Be prepared and be firm, but reasosable.

Good luck.

Marty