I clicked this post for some photos...... Post some up!
Hail damage totaled my 01 LC
- Thread starter sleepdoc
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- #23
This is what I read stating that there is no need to notify the Oklahoma Tax commission for a new title.
Maybe I misunderstood it.
www.ok.gov
"Please note, as outlined in the statutory language excerpted above, only damage impacting the roadworthiness of the vehicle need be considered in this notification to the Commission. Cosmetic damage (i.e. hail) unrelated to roadworthiness should not be included in this damage computation. Flood damage criteria is outlined immediately above."
I will start compiling comparable LC listings.
Maybe I misunderstood it.
Oklahoma Tax Commission
"Please note, as outlined in the statutory language excerpted above, only damage impacting the roadworthiness of the vehicle need be considered in this notification to the Commission. Cosmetic damage (i.e. hail) unrelated to roadworthiness should not be included in this damage computation. Flood damage criteria is outlined immediately above."
I will start compiling comparable LC listings.
- Thread starter
- #24
Well here are some images. I worked at the ranch this morning so its a little dusty. Tried to get angles that would show some damage but it is hard in bright sun and black paint.
Dry ice method...?
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- #26
Called my agent and he said he didn't know about the title needing to be changed to salvage or not, but either way, they won't insure it except for liability since they will have paid me for a totaled truck. That stinks.
He also pulled up the paperwork the adjuster has been working on and said the estimate was $9400 for repair (Labor, parts including a new roof panel and hood, and paint.) He also said it looked like they thought the value was $8800. So, it appears they will total it and I will have to buy it back. $8800 less my $1000 deductible will give me $7800. Agent said he expects no more than $1000 to buy it back so maybe I end up with $6800ish and a "totaled" land cruiser...
I'm looking for silver linings.
I have printed 8-10 ads for LC's near the same age and mileage as mine. Most are $10-12,000. Even found one that is an 02 with 390K for $7950. Just $1000 less than they are valuing mine with half as many miles. Not sure that will help me much but I feel like I am trying.
Thanks for all the suggestions. I appreciate the help!
He also pulled up the paperwork the adjuster has been working on and said the estimate was $9400 for repair (Labor, parts including a new roof panel and hood, and paint.) He also said it looked like they thought the value was $8800. So, it appears they will total it and I will have to buy it back. $8800 less my $1000 deductible will give me $7800. Agent said he expects no more than $1000 to buy it back so maybe I end up with $6800ish and a "totaled" land cruiser...
I'm looking for silver linings.
I have printed 8-10 ads for LC's near the same age and mileage as mine. Most are $10-12,000. Even found one that is an 02 with 390K for $7950. Just $1000 less than they are valuing mine with half as many miles. Not sure that will help me much but I feel like I am trying.
Thanks for all the suggestions. I appreciate the help!
If you'll live with a totaled truck...wouldn't it just be easier to source and paint a hood? And work on the rest as time/funds allow, so you can keep a good working title?
$1000 deductible should cover the hood and at least a portion of the paint.
$1000 deductible should cover the hood and at least a portion of the paint.
I’ve never had a vehicle totaled so my experience here is lacking, but correct me if I'm wrong. The way I’m seeing it, you have a perfectly good cruiser with what appears to be incredibly minor damage that I wouldn’t even bother fixing. You’re going to walk away with ~$7000 or more hopefully and can buy it back for pennies on the dollar. You make sure they don’t put a salvage title on it and then get insurance with a different company that doesn’t have anything to do with the total loss payout. This sounds like a win on all fronts, no?
I am sure the pics don’t do it justice, but that does not look that bad. As suggested, if it were me who treats trucks like trucks, I’d replace the hood and paint it. I could live with a dinged up roof, not like you can see it that well when standing next to the vehicle. Especially if there is an after market roof rack in the near future. Good luck with your claim process!
- Thread starter
- #31
Update...Insurance indeed totaled the vehicle. I was told they would give me $8146 and take it or I could buy it back from them and end up with a check for $4100. So the salvage value is $4000. I told them that was ridiculous! How could the slavage value be 4K and the perfectly normal value be 8K? Shouldn't the "salvage value" be less that half the regular value?
Anyway, I did not agree, asked them to do a little more research on the value of my vehicle and so will I.
They also would not let me find a repair shop that would fix it for less than the 60% of the value to negate the "totaled" designation. It would save them money, but still wouldn't do it.
I can still get coverage if insurance company inspects that all work was done. The title would not show "salvage" as vehicle is over ten years old, but will still be in the database.
I need to find some 01's with less than 200K for 12,000!
Anyway, I did not agree, asked them to do a little more research on the value of my vehicle and so will I.
They also would not let me find a repair shop that would fix it for less than the 60% of the value to negate the "totaled" designation. It would save them money, but still wouldn't do it.
I can still get coverage if insurance company inspects that all work was done. The title would not show "salvage" as vehicle is over ten years old, but will still be in the database.
I need to find some 01's with less than 200K for 12,000!
Good job. Of course they try and low ball you. Its their business model
Is it too late to tell the insurance company to "fugget about it"? I'm sure the actually damage is worse then the photos show, but dayum... I really don't see how it could cost thousands and thousands of dollars to fix it.
This is my fear with my '99, fighting insurance on value. I currently have full coverage, but am wondering what what point I should drop that expense. If they don't budge on price, I would drop the claim, remove full coverage on the vehicle and get a few of the dents popped out myself for a couple hundred bucks.
I am quite shocked so many have problems insuring a salvage titled vehicle. My '03 Jeep has had full coverage insurance since '04 and its title reads "Rebuilt - Previously Had Flood Damage". I bought it with a hydrolocked motor at the end of '03 from a salvage auction.
I am quite shocked so many have problems insuring a salvage titled vehicle. My '03 Jeep has had full coverage insurance since '04 and its title reads "Rebuilt - Previously Had Flood Damage". I bought it with a hydrolocked motor at the end of '03 from a salvage auction.
I totaled an Expedition 10+ years ago. They gave me a value like the one they gave you, on the low end of the range. My agent asked me to find some better comps from around the state. I found some good comps, and they came back with a much better number. Plus sales tax and registration, so it ended up working out pretty well. I'd be pro active and give them some better comps to get that number up. Keep the truck, replace the hood, and you'll be back in biz. I wouldn't care a lick about dents on the roof.
Explain, sounds interesting...
I just heard about it the other day...no expert by any means!
The jist of it was little discs of dry ice applied to the hail damage area, that get the metal so cold so fast, that the dents pop up and send the dry ice flying into the air. Haven’t had a chance to google it yet.
I just looked up the dry ice method - doesn't work. And the videos I watched were trying hail damage.
I saw those as well...I still want to play with it sometime...no one I saw had the car out in the sun when they started.
But probably myth...or mythical technique.
Bummer.
If you were to sell your cruiser today, I don't think you would get even 2k less for it than before the damage. That's from what I can see in the pictures anyway. I would by all means keep the claim, in fact I would love to be in your position! I would let you put those dents in my cruiser for 4k. I would let you dent mine like that for 2k even, and keep running it with the money in my pocket. By all means get them up a couple of thousand dollars more on the offer if you can. You should come out on top no matter what in this deal though!
