LOL! The couple lines say it all.
Rolled my 80- Geico woes
- Thread starter ColoCruiserJeff
- Start date
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Not sure why an owner can't just place a reasonable value on their rig and then pay insurance on that value. For example, you buy a 95 LC for 5K and then add 5k of mods, you then pay insurance on a car worth 10k. So if you total your rig, insurance pays out 10k. I know this is a very simplistic formula but in this scenario, both you and the insurance company are happy... as in the insurance company gets to charge you a higher rate if you place a higher value on your car.
- Thread starter
- #23
Irregardless.....hahaha.
I emailed him back a few comparable vehicles within 500 miles of me - we'll see how he responds.
Hell, stock 80's....93&94 are going for 6-8k within 500 miles around Denver, CO.
He hasn't replied yet....but I told him his offer was ridiculous and that I'd have no problem seeking management's involvement in the claim if it wasn't resolved to pre-accident condition.
I have a ton of $$ in the truck - not expecting to get 100% of it back, as that's just the way it is....but to be low-balled like that is just a lousy attempt to save $ for his company on a proper claim.
I have photos on my phone- and I'll upload 'em later this afernoon.
Thanks for the ton of replies.....have to figure out how to get more posts on my build-up threads
I emailed him back a few comparable vehicles within 500 miles of me - we'll see how he responds.
Hell, stock 80's....93&94 are going for 6-8k within 500 miles around Denver, CO.
He hasn't replied yet....but I told him his offer was ridiculous and that I'd have no problem seeking management's involvement in the claim if it wasn't resolved to pre-accident condition.
I have a ton of $$ in the truck - not expecting to get 100% of it back, as that's just the way it is....but to be low-balled like that is just a lousy attempt to save $ for his company on a proper claim.
I have photos on my phone- and I'll upload 'em later this afernoon.
Thanks for the ton of replies.....have to figure out how to get more posts on my build-up threads
You can, it's called a "stated value" policy but you pay out the nose for it.
As lame and adversarial as it makes it, that's their job...maximize incoming and minimize outgoing.
- Thread starter
- #26
The stated value is a higher premium...and often times requires an appraisal from a 3rd party. - definitely may be worth the added premium cost - and realized benefits whenever there is an accident.
Still no word from the adjuster.
The Custom Parts & Equipment rider on the policy should be covering the accessories and other modifications like the lift, bumpers and such....
I'll let you all know what he has to say this afternoon-
Still no word from the adjuster.
The Custom Parts & Equipment rider on the policy should be covering the accessories and other modifications like the lift, bumpers and such....
I'll let you all know what he has to say this afternoon-
- Thread starter
- #27
Pic attached....can't get the front and sides to upload for some reason.
I'll try again in a few.
I'll try again in a few.
What a buzz kill, it's like killing a unicorn...built white 80's are such a beautiful thing
CruiseOrlando
Conveniently Enhanced
Can you hear that?
If I listen really closely, I can hear some chanting - I think it's coming from your 80...
Truggy.... truggy.... truggy...
If I listen really closely, I can hear some chanting - I think it's coming from your 80...
Truggy.... truggy.... truggy...
Stated value policies are generally reserved for really special rigs. One offs, highly unusual rigs, highly modified rigs (far above and beyond what 99.9% of us here on 'Mud do), etc.
What's more common is to get a rider, where you have your policy (usually requires full coverage) then an additional X amount above and beyond that for mods, upgrades, etc.
So for my truck, I could argue that I have $5000 in mods into it (you might need to prove it, and the rider might only cover parts...not labor). My truck would comp out at around $12k (just did last year), so if I totaled it I could get up to $17,000 for it.
You pay an additional amount for the rider, but no appraisals typically required (AFAIK) and it's a *LOT* cheaper than going with a stated value policy. Stated value policies would only be useful if the truck comp's at an extremely low value, but because of the specific case (or sheer amount of mods) the actual value is extremely high.
For 80's, which are still new enough (and fall under luxury SUV), they comp at a high enough price that a stated value policy is unlikely to be worth it. A rider is 100% worth it if your insurance doesn't already cover add on items or mods (some do, or will up to a certain dollar amount) and you have a decent amount of upgrades.
And keep in mind they need to be actual upgrades. As an example, if you replace your OEM rear bumper with the basic 4x4Labs bumper it might not be considered an upgrade but an aftermarket equivalent. Replacing an entire OEM bumper (including cross member, bumper pieces, etc) is easily going to cost as much as a basic bumper from Luke (all those little bits add up quick). Now if you have all the bells and whistles (swing outs, etc) then there's no question that it would be an upgrade and should be covered.
Basically get in writing what exactly they are covering and for how much. As the old saying goes, a verbal agreement is worth the paper it's written on.
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I'm trying to remember but doesn't Colorado have like a 60-90 day settlement mandatory law? Talk to a injury lawyer to see. If that's the case you may want to hold out a while for a better settlement offer.
Some of the others from Colorado may know better than I.
Worth checking out.
Some of the others from Colorado may know better than I.
Worth checking out.
treerootCO
Where are my keys?!
Look closer at D-pillar on passenger side and the roof/top of hatch on drivers side, they look smashed in to me. I would like to see the drivers side and top.
That's a bummer dude. Fwiw I got 4500 for my 1990 Honda accord by state farm when it got totaled a few years ago.
If the only damage is the d-pillar on the passenger side I'd look into what a body shop would charge to push it back. I bet it could be pushed back pretty close with just a port-a-power as long as the interior pieces were out of the way.
I'd be willing to bet that all the pillars and roof are tweaked.
The cost of fixing it right would be huge. To do an ok/cheap fix it wouldn't be too bad cost wise, but would still probably total it if they're figuring it's only worth $4k-$6k.
big difference between totaled for an insurance company and totaled for a mudder, obviously. Who cares about a little off-center pillar to go wheeling or exped'ing ? (well, OK, if crushed then it's structurally weakened so put in a roll bar...) So, fight for the best payment -without the mods if that's the rule- and then buy it back, as suggested. (Make very clear to them that if they don't pay fully for the mods, then they belong to you to take off as you see fit.) The trick there is of course not to let them know you want to buy it back badly so they don't jack the price of the rebuy up. Then use it as is if it's only body damage or be bold and go convertible...
Good luck with all that.
? (well, OK, if crushed then it's structurally weakened so put in a roll bar...) So, fight for the best payment -without the mods if that's the rule- and then buy it back, as suggested. (Make very clear to them that if they don't pay fully for the mods, then they belong to you to take off as you see fit.) The trick there is of course not to let them know you want to buy it back badly so they don't jack the price of the rebuy up. Then use it as is if it's only body damage or be bold and go convertible...Good luck with all that.
Just keep bi*ching to the insurance company.
My old 83' BMW 320is got hit 2 years ago by a driver insured by geico. We had collector car insurance on it with a agreed value of $6500. The original offer from geico was $1500. BS. I bought the car from my uncle who bought it new, had the original window sticker and a stack of receipts dating from 1983-2010.
Basically I kept going back and forth with geico and eventually got $7500 for it because the only 320is for sale in the country sold for $8000 a week after my collision. Just send several links to comparable rigs for sale in the condition of your rig and send receipts from maintenance and any other recent work.
My old 83' BMW 320is got hit 2 years ago by a driver insured by geico. We had collector car insurance on it with a agreed value of $6500. The original offer from geico was $1500. BS. I bought the car from my uncle who bought it new, had the original window sticker and a stack of receipts dating from 1983-2010.
Basically I kept going back and forth with geico and eventually got $7500 for it because the only 320is for sale in the country sold for $8000 a week after my collision. Just send several links to comparable rigs for sale in the condition of your rig and send receipts from maintenance and any other recent work.
Everyone wants cheap insurance until their rig gets totaled.
I just went through this on my 94. I got almost 9K from all state. The strange thing is that they said my salvage sales price was $2,500. I had to work through all the mod's and send them all the receipts from slee, discount tire and they also talked to my mechanic about condition. It was locked and had 149K on it.
The drivers side other than the fender was gone and the rear axle was ripped off...
The drivers side other than the fender was gone and the rear axle was ripped off...
