Quote:
Originally Posted by benfield4
I was rear ended in my old Galaxie a number of years ago and it was no fault of mine since I was stopped at a light. I provided receipts and records of work done to it and still got screwed. It will go to their total loss department and most likely will be "difficult" (in their words) to find the value of such an "old" car. You will get a big packet of info from them that will contain a nit picky documend deducting value from the car for every dent, tear in the seat fabric and flaw in the car. It will also contain a market value document (from ADP in my case) that will "prove" what they think the car is worth. In my case the insurance company would not accept anything other than an official paid appraisal of the car. I called one and spoke with him and he said plainly that I was screwed since my car was not a desireable collector car on the collector car market and had high mileage.
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Quite frankly this sounds like BS. Not your story I mean, but the excuses you were fed by the Ins Co. The "collector car market" has nothing to do with anything. Nor does "high" mileage or "old". The car is insured for
replacement value. I.e. what it would cost to replace it with another similar vehicle in similar condition and with similar mileage. If your vehicle is a rust free 300 diesel wagon with manual transmission, then that is your market. You check ebay, craigs list, etc. and find all the rust-free 300 diesel wagons that are in similar condition, and average the prices. Chances are if your car had a torn seat, so will one of the cars that's for sale. If there are only 3 for sale in the entire country, and their asking prices are $15k $16k and $17k, then the insurance company is obligated by law to pay you at least $15k since that is what it would cost for you to buy that car. They can and will make low-ball offers all day long, but nothing is final until you
accept their offer. You just keep rejecting, keep throwing the evidence in their face, until they relent. They know the law very well, but they also know it's in their interest to get you accept a lowball offer...