Sounds like you have a seriously nice trail rig! Now you can really wheel the piss out of it and not worry a bit, since it's allready totaled.
Salvage - Need info! Kinda' Urgent
- Thread starter bkgiii
- Start date
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Sell it to me.
Do you take third party FEMA checks?
Do you take third party FEMA checks?
I'm driving the 80 down the Interstate 10 now - should be hitting the toxic waters by daybreak. Any particular levy I need head for?
jus' keepit to slightly above the rockers so as not to jack with mos' of the impotant 'lectrical bits in the cabin...
I would suggest you take any paperwork you have on all this to an attorney that deals with insurance stuff and have him review it. Either way you pay him a couple hundred bucks but if it turns out a bogus deal you save yourself a huge headache and if its legit then you net 15K.
At risk of sounding like an opportunist. There must be tons of damaged Cruisers that are ending up "written off" down there. Are they going to be sold at auction? Where? When? I can't see them hauling salvage rigs too far but the facilities and customers are not going to be in place for a reasonable auction for some time. 80 and 100 series Cruisers are fetching about 2x as much up here as they do in the SouthEast. There's a pretty big desire for diesel conversion projects as well.
where's cruisin' carolina when you need him??? 
I gotta go with what everyone else says and what I think you already want to and will likely do -- take the money, keep the rig.
I can see why the insurance company would do this -- it's a loss now, but I'm sure they have some method in mind of recouping the loss. In the long run, it's less of a hassle for them. It could be that identifying the rig as salvaged removes any liability they might have in the future regarding this vehicle -- with either yourself or someone you sold it to. Hell legal fees for a single case would easily top $15k.
Just my opinion...I don't have any insurance claims processing skills...
I gotta go with what everyone else says and what I think you already want to and will likely do -- take the money, keep the rig.
I can see why the insurance company would do this -- it's a loss now, but I'm sure they have some method in mind of recouping the loss. In the long run, it's less of a hassle for them. It could be that identifying the rig as salvaged removes any liability they might have in the future regarding this vehicle -- with either yourself or someone you sold it to. Hell legal fees for a single case would easily top $15k.
Just my opinion...I don't have any insurance claims processing skills...
lowenbrau said:
Coincidentally, Mexico just opened up their import laws to allow import of many more US used cars. I only got that much out of the news item, no more details, but I'd imagine a lot of such cars are going to be heading thataway, rather than sitting in the US market...
Contact bob at http://www.usaautoappraisers.com/ get a written appraisal for value
don't be led by the insurance company on value - edmonds.com usually has a higher price for value than KBB
with the damage totals now over 200 billion - 15K is a drop in the bucket
enjoy your good fortune = invest it wisely
don't be led by the insurance company on value - edmonds.com usually has a higher price for value than KBB
with the damage totals now over 200 billion - 15K is a drop in the bucket
enjoy your good fortune = invest it wisely
FOR SALE: "Liabailty" (comprehensive) for one 1993 Toyota Land Cruiser. NADA price OBO!
What is the buyout? I would guess it is higher than one would hope. If they give you NADA and sell it back to you at $5000 or less I would consider it (make one hell of a nice, low cost, offroad rig). Would be nice to dump that money into the rig of your dreams but I agree with rookie2's thoughts.
" I wouldn't even insure it for salvage value. You've gotten your big payday from the insurance company, why start giving the money back to them. Pay down your house mortgage or any high interest debt and by the time your 80 kicks the bucket, the value you've got out of that 15 grand will be closer to 20 - 25 grand."
What is the buyout? I would guess it is higher than one would hope. If they give you NADA and sell it back to you at $5000 or less I would consider it (make one hell of a nice, low cost, offroad rig). Would be nice to dump that money into the rig of your dreams but I agree with rookie2's thoughts.
" I wouldn't even insure it for salvage value. You've gotten your big payday from the insurance company, why start giving the money back to them. Pay down your house mortgage or any high interest debt and by the time your 80 kicks the bucket, the value you've got out of that 15 grand will be closer to 20 - 25 grand."
- Thread starter
- #33
landtank said:
I did indeed, RIck. I even gave them your PayPal account info. "The Check's in the mail"!Arleaux said:
Absolutley....I gotta' pay off that mortgage on the non-existant house! I DO charge a 300% processing fee, though....
- Thread starter
- #34
Wow....I just realized what caused this Catastrophe down here. Hey Beo and Dan: remember that switch on my wall below the AC themostat?
Back on the 'salvaged vehicle sale' question.....I'd look in Atlanta or Houston, from what my co-workers in ATL told me.
Back on the 'salvaged vehicle sale' question.....I'd look in Atlanta or Houston, from what my co-workers in ATL told me.
bkgiii said:Wow....I just realized what caused this Catastrophe down here. Hey Beo and Dan: remember that switch on my wall below the AC themostat?
You switched it ON when you left the house????
Bkg
As one of the insurance guys who will be heading down that way sounds like some time in november. There are a couple of points I would like to make.
1. as an insurance company once there is water up to the fire wall typically we will consider the veh a fiscal total loss. This is primarily to cover our asses. The last thing we ant to have is to get blamed for every issue that ever comes up with that veh again. "my transmission is slipping!!! must have been the salt water" will be a cry that will be heard many times over the next few years. By taking the hit now they can lump the losses for this disaster into one less than profitable episode.
2.established resale guides for properly repaired salvage vehicles is half of the nada blue book value on the vehicle. Sounds cool. Sounds like a lot of cash to be able to throw at mods to the veh to make it even better than before !!!
You need to be careful with that. essentailly if you keep comprehensive and collision coverage on your vehicle and then load up 3-5k in goodies making it the ultimate 80 that is cool and all but what happens when some ass hat comes along and steals it. or what if your are driving down the highway and an uninsured driver tries to rearrange your fornt end??
You now have coverage for half of the actual value of the truck. sure you have already been paid out for the majority of the value of the vehicle but I could imagine going through half the value of my truck pretty quick in mods. Most insurance policies will only allow for up to 1k in added aftermarket parts to the veh. anything after that and you are SOL.
There is a solution to this issue but basically it will cost you more to insure the vehicle. You can get a stated amount policy for the vehicle after rprs are made to it. check with your insurance agent and see what options are available for you.
Lastly, this is how things work with the company I work for (who will remain nameless) not neccesarily how it works for all insurance companies. check with your agents for specifics.
Dave
As one of the insurance guys who will be heading down that way sounds like some time in november. There are a couple of points I would like to make.
1. as an insurance company once there is water up to the fire wall typically we will consider the veh a fiscal total loss. This is primarily to cover our asses. The last thing we ant to have is to get blamed for every issue that ever comes up with that veh again. "my transmission is slipping!!! must have been the salt water" will be a cry that will be heard many times over the next few years. By taking the hit now they can lump the losses for this disaster into one less than profitable episode.
2.established resale guides for properly repaired salvage vehicles is half of the nada blue book value on the vehicle. Sounds cool. Sounds like a lot of cash to be able to throw at mods to the veh to make it even better than before !!!
You need to be careful with that. essentailly if you keep comprehensive and collision coverage on your vehicle and then load up 3-5k in goodies making it the ultimate 80 that is cool and all but what happens when some ass hat comes along and steals it. or what if your are driving down the highway and an uninsured driver tries to rearrange your fornt end??
You now have coverage for half of the actual value of the truck. sure you have already been paid out for the majority of the value of the vehicle but I could imagine going through half the value of my truck pretty quick in mods. Most insurance policies will only allow for up to 1k in added aftermarket parts to the veh. anything after that and you are SOL.
There is a solution to this issue but basically it will cost you more to insure the vehicle. You can get a stated amount policy for the vehicle after rprs are made to it. check with your insurance agent and see what options are available for you.
Lastly, this is how things work with the company I work for (who will remain nameless) not neccesarily how it works for all insurance companies. check with your agents for specifics.
Dave
Dave,
Does the pay-him-off AND let him keep it sound right?
Does the pay-him-off AND let him keep it sound right?
bkgiii said:
Absolutley....I gotta' pay off that mortgage on the non-existant house! I DO charge a 300% processing fee, though....
Where do you (scratch that), where did you live?
Gulfport