insurance settlement

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Jan 10, 2009
1996 LX450 170,000 miles in great shape, all stock.

My son put the LX450 on its top via utility pole guy wire :mad: . My question is for those who have totaled their LC/LX, what did you settle for from the insurance company or what should I expect.
Totaled then.

Depends on the area. Here in Oregon, mine was estimated (by the insurance) at $12,500 not that long ago. Pacific Northwest vehicles tend to be the cream of the crop (price and condition wise) however.

For your (general) area, KBB puts the dealership price at $9,745.

In Oregon, the law states that they have to replace the vehicle with essentially what you had before. Not sure if Alabama's laws are the same or not, but that greatly effected the price in my case.

If I were in your case, I'd total out the vehicle and buy it back. Take the cash and buy a new rig. Part out the old one if it's too far gone, or give it to your son and tell him at least he can't do any more damage to it, and to make it a trail rig. :idea:
I rolled mine too!

Sorry to hear that!
I just rolled my 1994 LC in March .....Totaled it:crybaby:
I had 140,000 miles on it and as far as accessories:ARB front bumper, Defender roof rack, level stance lift,285/75/16 BFG TA/KO,husky floor matts.
So I did a bunch of research for the appraiser(auto trader,craigs list) and explained the value of the LC......He said ...I can give you up to $1,000 for your accessories cause you have to have added policy for the I said ...If your not going to cover all the extra's on my rig then technically they are still mine!!!???? He said I guess your right! So when it was all said and done I walked away with $9,500.00 and all my parts back....I hope this helps!!!....Just don't settle until YOU ARE HAPPY
I'll try to send some pics
The KBB retail price is what you are entitled to. They will try to give you private party value for it, but fight for the retail value.

Souds like a great start of a trail buggy. Buy it back and get out the sawz-all. Put some massive tires on it and have fun with your son that is now worried about the strained relationship from wrecking your baby. lol.
Be a very active part of the process. My 80 was totaled after a recent accident and they only wanted to offer $6,000. In Oregon, they don't use Kelly BB. They have some fancy computer system that assesses value based on condition, options and local value compared to comparable vehicles. Ask for their report. You have every right to see what they are basing their value on. If it comes in low because of comparable vehicle values, as mine did, do your own search on Auto Trader and Craigslist. When I faxed over a spreadsheet of all the options my rig has, the prices for all the aftermarket goodies, and a 300-mile-radius search of comparable vehicles, they agreed with my $10K value and then promptly un-totaled it.

Also, make sure they understand to base the value only on vehicles of your age range. An 80 is an 80 to them. You have an LX450, so that won't be as much of an issue, but they were trying to use 91-92 prices to bring my value down. When I explained to them what the different year ranges were and how they should only use 95-97 vehicles as comps, the whole vibe changed.

Be a knowledgeable participant. They are used to 99.9% of the people just rolling over and taking their first offer. EVERYTHING is negotiable. If they know you aren't the 99.9% moron, they'll likely work with you.
Good luck. Glad everybody is ok.
This is terrible! I remember getting a call from my son saying, "I am fine, but your M3 is totaled!" I am glad he was okay! He never drove any of my cars again. :)

Do you research nationally! My body was able to get 16k for a car that his insurance would not give more than 8k. He printed lots of information off the net and auto trader prices. The adjuster was convinced.
This is something I am exteremely concerned about. I have full coverage on my 1991 with 205K on it. KBB shows it at 6500 retail in excellent condition but I have way more than that into it. My rig is in pristine condition, are there any special policies for a 20 year old rig that has been restored? I saw that Haffi in Iceland had his rebuild estimated by his insurance comapny at over 20K! That would be nice. Is there really that much value difference in the 91's and say 95+? Sorry to hijack but sort of relevant...
Yes you can get a "rider" policy for whatever additional amount you want to cover custom equipment. I had that through my insurance company with my old truck (02 F-250) to cover all of the tools and equipment stored in my 24' enclosed car hauler and to cover the in-dash DVD and navigation (they were really expensive at the time). You could also have a private appraiser come up with a price for your vehicle and submit it to the insurance company before you have a claim. Of course, increased value will increase the cost of your insurance. There is also collector car insurance if you don't DD your vehicle. My dad has that on his '55 Chevy but they'll probably insure anything you consider collectible and are willing to pay the premium.
The KBB retail price is what you are entitled to. They will try to give you private party value for it, but fight for the retail value.

Or NADA, which is admissible in Louisiana. Ditto on fighting for retail value. This is your own insurance company, so remind them who pays premiums when they try to low ball you!

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