Insurance Specialists - Please advice a fellow 240 owner

[gripstr]

Thanks for looking guys and gals...

I am the owner of a murdered 240 about three weeks ago. Some of you might recall the post.

It was the other parties complete fault. I recently spoke with the claims adjuster about the settlement for this loss. Currently they say it will cost around $6500 to fix the vehicle, but since its beyond the market value of the vehicle, they will total it.

Yesterday i got a call from the adjuster again telling me that they will settle this for $2400

It was a 93 hatch, front end collision, seems repairable and i dont think i can find another for $2400

All comments appreciated


Modified by heavyhitter2 at 12:55 AM 6/29/2007

[skydragoness]

That's about right. That's all I got when my first S13 was totalled (other party at fault), but they intially wanted to give $2k, I had to have an attorney (got one because my bf and I got hurt) convince them to give me more, and $2400 was around the area of what I got.

Take the money, and buy back the car from them (probably will cost $100-$200 to buy it back). God forbid you get in an accident again, but if it's anything more than a fender bender, and you get hurt, get an attorney ASAP. They may take a percentage, but it's the only way to get your insurance company (or the other's) to take you seriously... ESPECIALLY when the person at fault has the same ins. company as yours. They really love to d!ck around with you then (I have State Farm).

[jamesblonde82]

i just wrecked my 92' vert back in may (other party's fault) and it was totaled. the other party had state farm and it was good to deal with them actually. they gave me a rental and $3300 total for my wrecked vert (which included cost of tax and tags etc) b4 i had even received the insurance money i had bought my 93' vert (which is a nicer car) for super cheap (only 1800) because the old guy was leaving the country. just keep your eyes peeled man, thats what i did.

[chicos240]

One thing you can try.Find all the for sale ads you can that match your car. Print them out, cut them out whatever. Then fax them to the adjuster with a letter, basically stating that this is what it is going to cost to replace your car. They go by KBB and all this other bull shiat to give your car a value. We all know that 240s are now a lot more valuable because of supply and demand. Best of luck.

[Brandon93240]

You can try that but they'll usually give you the run around unless you get a lawyer. I work for a collision repair company so I have a very good understanding of what insurance companies do. Alot of people with modified vehicles that get totalled get it in the bum from the money they loose from modifications. Their goal is to get out as cheep as possible, but they are willing to negotiate you just have to know how to go about doing it, which usually costs you a little money and time, u just have to decide if its worth it for you to pursue.

[Soravia]

Go to a junk yard, get a shell and cut the fron and weld yourself, if the frame is still ok. You can get a shell for like $200 with stuff in it.

[ShionS14]

well i work for an insurance company so i guess i better chime in. the only way you are going to get more money is if you get an attorney. now if your vehicle is modified you are going to have to show receipts for the parts put in to the vehicle. insurance companies do not, i repeat, DO NOT have to give you market value on the vehicle. Insurance companies are written to give you the depreciated amount at the time of loss. now as far as getting an attorney to get more money, well you could do that but it will cost you because you will have to pay the attorney fees and on top of that you probably won't win because the insurance company has followed all legal procedures and offered a proper settlement for your car, plus, insurance companies are big business with big time lawyers so joe schmoe attorney at law that you see advertised on tv probably won't cut it, you would need a much better skilled, and thus more expensive, lawyer. you might as well just take the settlement and buy it back.

[Brandon93240]

Exactly what I said, it takes time and money(ie:lawyer), you have to weigh your options to justify if its worth you spending money out of pocket to try and get more for the vehicle.

[Atvstevo1337]

Has anyone ever tryed haveing the car profesionally appraised before it was wrecked than provide that statement to the insurance companey? would this hold up as a way to make sure you dont get ripped off with the market value BS?

[gripstr]

Quote »Has anyone ever tryed haveing the car profesionally appraised before it was wrecked than provide that statement to the insurance companey? would this hold up as a way to make sure you dont get ripped off with the market value BS?[/quote]Car depreciates, unless you know the exact time you gonna total it.

Wow! Thanks for all the feedback. This is why i love NICO

I have faxed them some invoices of after market parts that i have recently put on the s13, hopefully i get reimbursed for those.

At this time i will be happy with whatever amount i can get another chuki for.I understand that Insurance companies by law have to put me in the same financial position as i was before the accident.

[Atvstevo1337]

I understand that Insurance companies by law have to put me in the same financial position as i was before the accident.

thats why I brought up the appraisal, I heard about that law once before and from all the wreck stories i've heard on here so far evryones only been given 2-3k when if someone ever wrecks my car the paint alone is almost 3 or 4 thousand would that in anyway affect me payment? maybe bi-yearly appraisals? anyways this thread has put some questions in my head and i'll be calling my insurance companey soon to verify a few things. good luck with your case.

P.S I remember reading someweres that most insurance companeys dont cover aftermarket parts?

[gripstr]

Thanks man.

I do like the bi-yearly appraisal idea. I however recommend that if anyone buys a 240, to get some kind of a document that states the purchase price, like an invoice or something.

That would have helped bump the settlement up a bit.

[ShionS14]

As far as appraisals go, they are only good if you have the vehicle rated on a stated amount. which means you get the appraisal done you tell the insurance company how much the appraisal said, then they rate you on that base. this usually means you are going to pay more, especially in scenarios where the depreciated amount is only 2-3k and your appraisal comes back at 10k.

[Brandon93240]

It doesn't matter how much you payed or owe on the car. We had a customer total a 2001 taurus, the car was only worth 4-5k they owed 9k, the insurance company cut them a check for 5100. Its not the insurance companies fault they had bunk credit and got screwed. It was one of those places that doesn't charge interest so they ask 5 times what the pos is worth.

[240sx_Guy]

Thanks man.

I do like the bi-yearly appraisal idea. I however recommend that if anyone buys a 240, to get some kind of a document that states the purchase price, like an invoice or something.

That would have helped bump the settlement up a bit.

im getting a SRed 240 tomorrow. how do i get these doccuments. 5k is alot of money to me to lose

[Brandon93240]

Go to your insurance agent and tell him that you'd like your car appraised and that you have receipts for aftermarket parts installed and would like them covered also incase of theft or damage.