g-man
SILVER Star
Here's a link to my wrecked experience and fight with the insurance company.
fj60 wrecked today on the interstate
here is a summary list of my observations:
1. insurance companies are in the business to make money. They make money by premiums on the front end which more than cover there losses. They hire bean counters to figure this out. They make money on the back end by trying to minimize there losses..ie offering you the least they can. Another's person's insurance company has no real reason to satisfy you, you're not their customer and they will get no future premiums from you. I suspect but can't prove that the in-house insurance company appraiser (nationwide) came in high on the damage appraisal to make sure it was way above what they already assume is the Total percentage or threshold. In this way they can total the vehicle.
2. insurance companies used to go around and look in your area for similar vehicles, search the classifieds in local papers to come up with valuations. They no longer do this. Instead they hire "professional valuation companies" and pay them for a value. Needless to say if the valuation company can consistently come in low and save the insurance co money...the more business they will get.
3. Lawyers are in business to make money and not right wrongs. They will not get involved unless you are fighting for a difference of tens of thousands of dollars. They are a professional mouth piece and not your friend.
4. Tell the insurance company your vehicle is NOT safe to drive If you can't open a door, roll up a window or put on a seat belt. Try to get a loaner vehicle from the insurance company. This get's the clock ticking. The sooner you do this, the sooner they will feel financial pressure to resolve the claim.
5. Speak with a manager if the idiot in a cubical is not hearing you. Explain to them that this is a classic vehicle and valuations are all over the place and mostly based on CONDITION not mileage. Use the NADA classic car guide value. Ask for a appraisal from an independent company that is familiar with classic cars. In my case I raised concerns with the appraiser about his loyalties. The conversation went something like this: "how much business do you get from individuals wanting you to appraise a classic car? answer: none, "How much business do you get from insurance companies? answer: 100 percent. "Oh ...I see, so you've partnered up with the insurance companies to come in low for them so they keep coming back to you. Reply: NO, " I'm fair..etc etc," He got offended but in the end sent the insurance company a fair valuation.
fj60 wrecked today on the interstate
here is a summary list of my observations:
1. insurance companies are in the business to make money. They make money by premiums on the front end which more than cover there losses. They hire bean counters to figure this out. They make money on the back end by trying to minimize there losses..ie offering you the least they can. Another's person's insurance company has no real reason to satisfy you, you're not their customer and they will get no future premiums from you. I suspect but can't prove that the in-house insurance company appraiser (nationwide) came in high on the damage appraisal to make sure it was way above what they already assume is the Total percentage or threshold. In this way they can total the vehicle.
2. insurance companies used to go around and look in your area for similar vehicles, search the classifieds in local papers to come up with valuations. They no longer do this. Instead they hire "professional valuation companies" and pay them for a value. Needless to say if the valuation company can consistently come in low and save the insurance co money...the more business they will get.
3. Lawyers are in business to make money and not right wrongs. They will not get involved unless you are fighting for a difference of tens of thousands of dollars. They are a professional mouth piece and not your friend.
4. Tell the insurance company your vehicle is NOT safe to drive If you can't open a door, roll up a window or put on a seat belt. Try to get a loaner vehicle from the insurance company. This get's the clock ticking. The sooner you do this, the sooner they will feel financial pressure to resolve the claim.
5. Speak with a manager if the idiot in a cubical is not hearing you. Explain to them that this is a classic vehicle and valuations are all over the place and mostly based on CONDITION not mileage. Use the NADA classic car guide value. Ask for a appraisal from an independent company that is familiar with classic cars. In my case I raised concerns with the appraiser about his loyalties. The conversation went something like this: "how much business do you get from individuals wanting you to appraise a classic car? answer: none, "How much business do you get from insurance companies? answer: 100 percent. "Oh ...I see, so you've partnered up with the insurance companies to come in low for them so they keep coming back to you. Reply: NO, " I'm fair..etc etc," He got offended but in the end sent the insurance company a fair valuation.
