1993 300E- Need Insurance Settlement Advise - PeachParts Mercedes-Benz Forum

chance2benz · #1 06-19-2011, 02:47 PM

Hello Forum Brothers.........
I have a 1993 300E w/187,000 miles But Very Good condition interior and exterior (black ext./mushroom int.) also recent tune-up as well as lots of other repair and maintenance items(has updated wire harness too). i would honestly grade it an 8 out of 10 grade......

So last week; i was 'backed into' by an older gentleman- whose car was in "reverse" from a stop light. I was standing still behind him at light, and when light changed; he 'gunned it" Into Me.....

His State Farm coverage has accepted Full fault and an estimator will be at my house tomorrow. Damage on my car is crushed grill, busted passenger side headlight and fog light assembly,bent hood, and screeching under hood( that i dont know origin because hood has NOT been opened since accident). and loss of some coolant as temps have been closing in on 'red' area of gauge.
I took car to two of State Farms 'preferred repair ' shops But BOTH refused to open hood and estimate damage if i was Not committing to have repairs done at their shop. Leading me to Call and request State Farm estimator come to Me.

I own the car outright(NO Lien) and one of shops i visited suggested that State Farm would probably Total Out the car because of his estimate of "visual estimate of just exterior damage" without going underhood.

So MY Question Or Advise sought Is; How much $$$ is Fair to accept And what do i Need to Do/Say to maximize offer/settlement from State Farm. Also How do i go about buying car back from State Farm AFTER settlement because car ran great and i would like to have car back and do repairs myself at 'my leisure'.

I am Sure a fellow forum member has been in similar situation and i will Appreciate ALL advise/input and Recommendations from Everyone...Thanks in Advance to All .......

oldsinner111 · #2 06-19-2011, 02:52 PM

Since you ran the engine near red forget it.Find another,make them pay you bluebook or NADA value.No Blackbook.

Gilly · #3 06-19-2011, 06:53 PM

The overheating and screeching noise is probably due to damage to either the aux fan or engine fan being jammed. If you lost coolant at the accident scene you'd still be losing it now. I'd stop driving it.
Wondering if you noticed the reverse light on on the geezers car?
One comment from my wife, who's been in an insurance companies' corporate office for over 30 yrs..
It may seem counter-intuitive, but you should have YOUR insurance agent involved. All this money you pay that guy for insurance year after year, they are obligated to give YOU service for that. Even though you know the other guy was at fault, it is YOUR agents obligation to make sure you are properly compensated for this accident. If you get a "shrugger" (just shrugs their shoulders and says it wasn't YOUR (ie YOUR AGENTS!) fault, you should find a new agent.

engatwork · #4 06-19-2011, 07:26 PM

Quote:

I'd stop driving it.

x2

#5 06-19-2011, 08:12 PM

If they total it, I would doubt the money they will pay for it will even come close to fixing the car. I had a shop estimate the cost of painting front of hood on car where rock chips were. They wanted 1200+ to do just that. People are buying 93 300e's on this site they are saying low milage for 2K or less.

thornton · #6 06-20-2011, 01:03 PM

I have the same vintage 300E with almost identical mileage and this is a situation I assume I'll be in at some point as I seem to have to dodge deer on an almost daily basis.

my only request is that you keep us posted on how things progress.

Also, do get your insurance company involved immediately.

Good luck. I hope all turns out well for you and the car.

TX76513 · #7 06-20-2011, 01:11 PM

So MY Question Or Advise sought Is; How much $$$ is Fair to accept And what do i Need to Do/Say to maximize offer/settlement from State Farm. Also How do i go about buying car back from State Farm AFTER settlement because car ran great and i would like to have car back and do repairs myself at 'my leisure'

They will offer you the fair market value of the car based on what ever is stated in your formal policy e.g. Like Kelly Blue Book. Don't act like you want the vehicle until an agreeable offer is made. Then ask what they want to buy the salvage. Remember - this car will then have a salvage title.
Good Luck - don't get in over your head.

benzworldrefuge · #8 06-21-2011, 07:57 AM

Been in this situation before (not my fault, but ins co wants to total my car).

I agree with getting your ins co involved just to see what they will do for you. Absent any help, here is what you need to do.

Scour the internet for ads for cars for sale just like yours. AutoTrader and others are very usable with pictures and good descriptions. Print them out and create a spreadsheet to show how many cars are like yours (year, mileage, condition). This will put you on the offensive when it comes to establishing the value of your car, and you'll know the number before you talk to the ins co. Make sure you throw out the really high price(s) ads or the really low; use the 80/20 rule or 90/10.

Now that you have the value in mind for what you want, its time to negotiate. If the first person you talk to gives you what you want, accept it and move on. But that rarely happens. Susie or Sammy the telephone claims settler are using a script and values their managment has provided (they can start their offers as low as 50% 60% of what they KNOW your claim is worth. I don't accept settlements unless I have escalated up at least one management level above Suzie or Sammy. Example; my son's 87 Maxima: Ins co offered 1600 at first. By the end of the escalation (three phone calls) their offer was $2145. Not big numbers, I know, but its the percentage that is important.

Don't be an arsehole when talking to them - be nicer than they are but clear about your intentions. "I understand this is all you can offer but as you can see, I have good reason to believe my car is worth more than what you have offered. I'd like to speak with your supervisor if you have reached the limit of what you can settle for. What is their name?".

The most important thing is to have solid research in your pocket when setting the value of your car. As easy as it is to do, most people fold and accept the first offer. If your ins co wants to handle all the negotiations for you (cold day in hell from my experience), then you need to sell them on the value of your car.

Good luck and smile everytime you talk to someone who is making you and offer.

chance2benz · #9 06-22-2011, 02:39 AM

State Farm is offering me total loss and a payout of $3495 . I think that is fair BUT they want $650 to buy back car(which i feel is Too Much). Is that Fair?????? Anyway i am countering for $3300 including buy-back of my old car. I was offered rental car two weeks ago which i DID NOT utilize And Paid for my own tow. Claims Adjuster requested receipts of recent parts/maintenance i recently put into car; Although she insist that their offer is what their evaluation say is Proper. I am now leaning towards taking their offer ($3495) and Not buying back car....... Just an update for All of You who offered help/opinion/advise,etc. Thanks All

Aquaticedge · #10 06-22-2011, 03:00 AM

I wouldnt buy back the car. 1 it would be a hard sell with a salvage title, If you think their offer is fair then take it, find yourself the same model or maybe even newer one and drive it. plus if you go into accident repair, there's a ton of hidden stuff that you cant tell by just popping the hood and saying well replace this this this and this over here and call it done, there could be underlaying issues, Frame Skewed here or a crossmember bent there can add up to thousands very quickly.

Gilly · #11 06-22-2011, 04:42 AM

Unless you think everything is so nice you could make a profit by parting it out. If everything is really nice, as you say, there are interior and exterior components that could rack up well over $650 on eBay or Craigslist.

benzworldrefuge · #12 06-22-2011, 03:47 PM

What is the value of the car when you search for similar cars for sale?

dlssmith · #13 06-22-2011, 05:36 PM

Take their 3495 and you keep the car. They don't need it or the 650. Unless you have no place to store it to part it out or fix it, and don't want the hassle. You can probably replace it for the 3495. You might have to look around a bit, but who knows, you might be able to replace it for a lot less.

benzworldrefuge · #14 06-23-2011, 10:15 AM

124s with 180k on them for sale under $3400 are abundant. Having said that, I wouldn't take their first offer if that is what this is.