Totaled the 40 now what??? (1 Viewer)

Joined
Jun 12, 2008
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342
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Newberg, Oregon
Hey everyone, I had an accident in September with my 1978 FJ40. Other driver, young 18 year old caused it. I meant to post a few months ago, but I just wasn’t up to it. It’s been a whirlwind and I didn’t realize a car could have you feeling so upset and emotional. I purchased it for my 3 daughters and I to work on. Been seeing a chiropractor and trying to get my body back to normal. But now the insurance company has totaled it and is offering me $13k. I can’t replace it for $13k, they are allowing me to get my own comps. Just wondering if anyone has been down this road or has any suggestions?? I won’t accept that amount! I can’t replace it for that amount.

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Krondor

SILVER Star
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Sorry for your loss. As said above, 13k is low and I expect that from insurance. They always do that. I just looked at Hagerty and the 13k is for FAIR condition. Yours looks much better.


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Joined
Jan 17, 2005
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Southern Colorado
Looks like it needs a frame swap, at least, and some paint/body/trim. Did the accident snap off any mounts on the engine or transmission? I think the value is significantly higher than 13K. but convincing them to pay more is the trick.

As the owner of an Olive '78, I sympathize with you!
 

1911

chupacabra
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Parker County, Texas
The main job of insurance companies is not to protect property, it is to make money by taking in as much in premiums as they can, while at the same time paying out the least possible amount in claims. Hence, they are always going to lowball everything and everyone, and hope that you will get sick and tired of it and accept their lowball offer. An astounding number of ordinary people must do exactly that, because it's obviously working for the insurance companies and they keep doing it.

I've been through this with classic VW's and motorcycles. Any time it is any kind of collector vehicle, they are going to try and use the lack of recent sales data to lowball you.

You're going to have to dig in for the long haul, do your homework, produce paperwork (receipts), and jump through a million hoops, but it can be done. You may have to get a lawyer involved (though that will seriously cut down your final receipt obviously). In any event, don't accept their first several offers, and stick to your guns. Tell them you are beginning to not feel well and have pains as a result of your accident (and do go see a doctor and get a thorough checkup if you haven't already). Sometimes just the threat of medical expenses (which can run to 10X or more of the vehicle claim) will motivate them to settle much more quickly.

Sorry for your loss and good luck with your case in any event. This is my biggest worry in driving mine, and I drive mine a lot.
 

Bripars40

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Joined
Aug 21, 2016
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Oklahoma
The main job of insurance companies is not to protect property, it is to make money by taking in as much in premiums as they can, while at the same time paying out the least possible amount in claims. Hence, they are always going to lowball everything and everyone, and hope that you will get sick and tired of it and accept their lowball offer. An astounding number of ordinary people must do exactly that, because it's obviously working for the insurance companies and they keep doing it.

I've been through this with classic VW's and motorcycles. Any time it is any kind of collector vehicle, they are going to try and use the lack of recent sales data to lowball you.

You're going to have to dig in for the long haul, do your homework, produce paperwork (receipts), and jump through a million hoops, but it can be done. You may have to get a lawyer involved (though that will seriously cut down your final receipt obviously). In any event, don't accept their first several offers, and stick to your guns. Tell them you are beginning to not feel well and have pains as a result of your accident (and do go see a doctor and get a thorough checkup if you haven't already). Sometimes just the threat of medical expenses (which can run to 10X or more of the vehicle claim) will motivate them to settle much more quickly.

Sorry for your loss and good luck with your case in any event. This is my biggest worry in driving mine, and I drive mine a lot.
THIS ☝🏻

Do not accept anything less than what it will cost you to buy a new one. That should include costs for travel, shipping, registration and modifications to how it was previously built. They owe you what you had prior to the accident. It will take a long time but you need to document all of your communication with them and put timelines on their review processes once you submit your counter offer/proof of other sales for like vehicles.

Happy to help out more if you want to help.

TLDR: Don’t accept $13k
 
Joined
Apr 2, 2008
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Victoria, BC
Insurance companies will also write off a vehicle when the estimated repair cost exceeds 1/2 the value... sometimes even less. Their attitude may change when the comparables you show them are 35-48k. Gone are the days of finding a good solid rig for 10k... 30k seems to be more where 1/2 decent rigs are at.

A 10k fixer will soon cost more than the 30k when you add $5000 for a new tub and 70 hours labor at $100/hour... plus $10k for paint.

Here, if we are lucky, shop rates are $150/hour. I easily had 100 hours into my frame swap. Between getting the newer frame, stripping it, sandblasting it, painting it with four coats of paint, stripping my vehicle off the frame, and rebuilding the vehicle on the new frame... it's a ton of work. I found some ways to find time, but the extra time using a home compressor and sandblaster ate that up in a hurry. I bet a couple or three guys could swap a frame over a weekend if sandblasting and painting the new frame was skipped. However, I did it all solo which can make it somewhat slower.
 
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Texas Coast
Insurance companies will also write off a vehicle when the estimated repair cost exceeds 1/2 the value... sometimes even less. Their attitude may change when the comparables you show them are 35-48k. Gone are the days of finding a good solid rig for 10k... 30k seems to be more where 1/2 decent rigs are at.

A 10k fixer will soon cost more than the 30k when you add $5000 for a new tub and 70 hours labor at $100/hour... plus $10k for paint.

Here, if we are lucky, shop rates are $150/hour. I easily had 100 hours into my frame swap. Between getting the newer frame, stripping it, sandblasting it, painting it with four coats of paint, stripping my vehicle off the frame, and rebuilding the vehicle on the new frame... it's a ton of work. I found some ways to find time, but the extra time using a home compressor and sandblaster ate that up in a hurry. I bet a couple or three guys could swap a frame over a weekend if sandblasting and painting the new frame was skipped. However, I did it all solo which can make it somewhat slower.
I realize that it is too late, but for the sake of completeness on this unfortunate topic, you can purchase an agreed value policy and set the replacement cost at the appropriate amount. In the event of a casualty loss, the insurance company must pay the agreed upon value. Chubb Insurance Co. (no affiliation) issued such a policy on our 40 series. They let us set the value with no inspection or paperwork.
 

UZJ40

OEM(ish)
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Aug 8, 2011
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LV, NV
I realize that it is too late, but for the sake of completeness on this unfortunate topic, you can purchase an agreed value policy and set the replacement cost at the appropriate amount. In the event of a casualty loss, the insurance company must pay the agreed upon value. Chubb Insurance Co. (no affiliation) issued such a policy on our 40 series. They let us set the value with no inspection or paperwork.
How does that work when it's the other driver's fault like in this situation? Your agreed upon value with YOUR insurance company might be a separate issue if you are not the one that caused the wreck? I assume he's trying to get money from her insurance company.
 
Joined
Apr 2, 2008
Messages
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Victoria, BC
In these parts our options are limited. Private insurance won’t insure a 48 year old truck. Unless it’s 100% original they won’t give you cheaper rates for pleasure use. And if you drive it to work or school they won’t do an agreed value. The claim is it’s 100% covered to the full value, but I know they’d try to give me an insulting amount that would barely cover a new set of tires…

And that’s why it’s always looked up. With many other security measures in place.

4 wheel discs to stop on a dime, and a SBC to help me get out of the way.

Also a Great Pyrenees who’ll scare the crap out of anyone who steps on our property (especially) at night. And when she’s pissed, no bribe or treat will get her to calm down.
 
Joined
Jun 13, 2022
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Nashville, Tennessee
Like stated above, DO NOT agree to their first couple of offers. Personally, I'm not sure I would accept anything less than replacement value. I've been down that road before, and THEY WILL up their offer. They are just hoping that you feel like you have no choice, and will eventually relent. Just glancing at your pictures, I would say that it's easily worth twice what they've offered you. Is that insurance company one that will allow you to 'buy back' the vehicle? Some do, and some don't. I would first find the answer to that question. Then, I would decide if it can be repaired, and if I wanted to do it. Like someone else said, you also have the option to go through your insurance company, and let them recoup the money from the other party's insurance company. I would say that you would have a much better chance of getting more out of it that way. The bad part, is that your insurance might look at that claim and decide to raise your premium. Sorry that happened, and hope you don't suffer any lasting effects from it. Best of luck to you.
 
Joined
Jul 16, 2022
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Location
Twin falls
I know of a guy that had a similar situation with a built Mitsubishi Montero. He hired a private company that evaluates vehicles worth. You might look into that. The insurance company he was dealing with had to take it. It was a substantial difference.
 

JohnnyC

Long ago TLCA# 2231
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Jun 17, 2005
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UpState Ny, Wells Me
Rolled mine bad in 98 going 65 mph on highway … other guys fault (the story is on mud here ) had to fight the insurance guy … got notorized letters and statements from several tlca members ( @Exiled letter was a good one) got a more fair price out of them

WELL before prices skyrocketed

I got to keep the truck and rebuild it

Documentation is key
 
Joined
Apr 21, 2005
Messages
22,334
Lawyer up?

Person injury is involved get a lawyer. That is where the money is. Wasn't a minor accident if it totalled your 40.

I would laugh at $13K. Are they showing 78s for sale in your area in the same condition prior to the accident for $13K? Would tell them sales they show you are not helping replace your cruiser. Hopefully they are providing a rental 4X4 during this process? Cost of that helps you not them. Would look at buying after it settles regardless less. I would not settle the person injury first. That's everage for you not them.
 

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