Got into and accident... What to do :(

[DougN]

I would definately bump up the value Paul. I also have mine with a stated value of $25K, and might raise it to $30K in the future.

[Cutlass372]

The car is done for... They want to total it and give me like $600 and then 60% of that... because they are saying I am 40% at fault... What do I do?

Edited November 20, 2009 by Cutlass372

[mgmoreau]

Do you have any friends who are a lawyer? It may be worth getting a lawyer to send them a letter telling them you want to file suit against them and the other driver. Then you need to consider how much a legal battle would cost you vs how much you have invested in the car at this point.

Good luck!

[IdahoKidd]

UGH! That sucks. It will cost more than you'll ever get back to fight it too.

Since following this I have changed my insurance and just got appraisals on two of my cars. I was surprised with one and disappointed by the other. My 72 240, according to the CPI black book, is worth $13,500, which is just short of what I will have in it. My 500SEC is only worth 10K I have the appraisals with the mileage and the date on them. I'll be able to show that on this date, those cars were worth this much. The local car dealer did the appraisal for free.

Again, that sucks, but it is very close to what happened to me 7-8 years ago with my Subaru. You can choose to not settle and take them to small claims court. At least you get tell your story, show your pictures, etc. It would cost about 40 bucks or so. Save the lawyer money for a different car for you, not the lawyer.

Leonard

[Powerglide]

Wrong. A "Stated Value" policy will allow the insurance company to arbitrate the value of the car in the event of a claim or total loss.

An "Aggreed Value" policy will pay the full value of the inured vehicle's value in the event of a total loss.

[zhead240]

I then stripped and sold off everything of value on the car even the dented hulk. I made another $20,000.00 off of that.

that's got to be a miss print, n'est pas.

[conedodger]

I then stripped and sold off everything of value on the car even the dented hulk. I made another $20,000.00 off of that.

that's got to be a miss print, n'est pas.

No, not a misprint. Let's start with the newly built L28 with the Nissan Competition Department flat top pistons. This engine had not had its first oil change. That went for over $5000 as I recall. Then there was the LSD R 200 and the transmission that had just been rebuilt. The Ground Control Suspension all the way around brought in a pretty penny. Panasports, R rated rubber that was new, Euro turn signals front and rear. My situation is clearly different than Mr. Cutlass. I had thousands of dollars in my car and the reciepts to prove it. The car had just had a $5000.00 paint job! I also had an appraisal that said the car was worth $13,500.00. California AAA challenged my appraisal and brought in an independent appraiser who came up with $14,000.00. This caught them totally off guard. I agreed to this amount and wanted to keep the car. They placed the salvage value on the car at $700.00 and I got a check for $13,300.00.

I still have parts from the car. I just came across a brand new throttle position sensor and a cylinder head sensor yesterday. It had a new plastic fan and a new fan clutch which are now sitting on a shelf in the garage. What is a new Datsun Comp Department Harmonic Balancer worth? Got one of these too! These are all the parts that are still sitting on the shelf. The engine and suspension were the big ticket items.

There is definately money in parting out a vintage car. You have to live in the right place though so your neighbors don't get irritated.

Mr. Cutlass, your best shot at this point is to try and prove that your car was worth more than $600.00 and that you were not 40% at fault. 60% of $1000.00 is $600.00 but if you let them apply the $600 value you get what? $360.00!!! What did you pay and when did you pay it? What have you spent making it better? Insurance companies want to settle and quickly. One of your best tactics is just don't. Settle that is. Don't avoid talking to them, just tell them their offer is just not good enough. Tell them you think your car is worth $5000.00 and you don't accept that you had any percentage of fault. They will start to move in a more acceptable direction if you just refuse to settle.

Edited November 20, 2009 by conedodger