Advise needed AIG Insurance

[126coupe]

Hey Guys and Gals,

I totaled my tow vehicle a few weeks back, I am not at fault, the guys insurance co is taking responsibility. The vehicle is a 1992 F-350 Dually in ferfect condition, in fact it is kept covered and I polish it every few months. I want to fix it but the repairs are around $8,000.00 and AIG sent me a check for 4,900.00 WTF.
I am sending the check back and putting up a fight. I then submitted receipts for over $3,500 of work i have had done in the last couple of months including a new factory tranny ($2,800.00). The AIG adj. calls me a tells me they can increase the settlement by $67.00 for all the documented work i had done. WTF??
I spoke w an attorney and I can sue the dude that caused the accident for the difference. Does anyone have experience w this, needless to say i am pissed, sure I will have a properly repaired truck, but w a salvaged title.

Any advise is appreciated

[legion]

The quickest and easiest thing to do is to get your insurance company involved. File a claim with your insurer for the damage. They will hire lawyers and fight on your behalf. It is part of what you pay premiums for.

[motion]

AIG is his insurance company? If so, make a claim against your own insurance company. They will treat you much better. Once they pay you, they will go after AIG (subrogate??) to get their money back.

edit: Chris beat me to it.

[Rick Lee]

Yes, but if he files with his own insurance, they will count that as an accident on his own policy, no? When I was rear-ended in August by a German nanny, about to leave the country forever, I called my insurance company. They said they'd have nothing to do with it unless I wanted to file a claim under my collision/comprehensive policy and then they'd go after State Farm, the nanny's host family's insurer. But it sounded like it was gonna be a ding on my record and that I should just deal with SF instead. Luckily, SF paid everything.

[legion]

Originally Posted by Rick Lee

Yes, but if he files with his own insurance, they will count that as an accident on his own policy, no?

That depends on his insurance company's underwriting guidelines. Most reputable insurers will not consider claims under a certain dollar amount or where the you are not at fault chargeable (they don't count against you). All bets are off in no-fault states, however.

Call your agent and discuss before filing a claim. They usually have a good idea whether this should affect your rates or not (and it should not IMO).

[the]

It's not clear from your post how the insurance company is treating it.

In your first sentence you say you "totaled" it, which suggests the insurance company is considering it a total loss.

But then you talk about fixing it, and your keeping it, which suggests that they are not treating it as a total.

The answer depends on how much the vehicle is worth, how much damage there is to it, and whether the insurance company is declaring it a total loss or not.

[legion]

Originally Posted by the

It's not clear from your post how the insurance company is treating it.

In your first sentence you say you "totaled" it, which suggests the insurance company is considering it a total loss.

But then you talk about fixing it, and your keeping it, which suggests that they are not treating it as a total.

The answer depends on how much the vehicle is worth, how much damage there is to it, and whether the insurance company is declaring it a total loss or not.

That's true.

If it costs $8,000.00 but has depreciated to $4,900.00, you are only going to get a check for $4,900.00. The idea is that you can go and buy another like truck for $4,900.00. If you choose to repair it, that's fine, but you don't get more money because of it. If you can prove your truck was worth more, that's fine too. Repair costs that exceed the total vehicle value don't really make it worth more.

This is why it is so easy to total old cars: even fixing minor scratches can exceed the vehicle's value.

[stomachmonkey]

Got hit by a lady who lost control on an icy road.

I was parked.

Every year for the next 5 years I had to fight with my ins co to remove the "accident" footnote on my policy which they were trying to charge me a monetary penalty for.

Had I been standing next to the car vs sitting in it there would never have been an issue.

[126coupe]

Originally Posted by legion

The quickest and easiest thing to do is to get your insurance company involved. File a claim with your insurer for the damage. They will hire lawyers and fight on your behalf. It is part of what you pay premiums for.

Because i only carry liabilitiy state farm is no help.

[126coupe]

Originally Posted by the

It's not clear from your post how the insurance company is treating it.

In your first sentence you say you "totaled" it, which suggests the insurance company is considering it a total loss.

But then you talk about fixing it, and your keeping it, which suggests that they are not treating it as a total.

The answer depends on how much the vehicle is worth, how much damage there is to it, and whether the insurance company is declaring it a total loss or not.

AIG is saying its a total loss, but teir appraisal is BS, They sent me comps that are not at at what my truck was. Yes I am not giving up the truck, i will fix it properly.
My fight is w AIG about true value and if they dont satisfy me I will go after their insured in Small Claims court. I have plenty of time and patience.
Most people get the check in the mail, cash it and go on with their lives. Me, I will go down fighting.

[legion]

Minkoff, in the absence of comp and collision coverager, you are pursuing your best bet.

It sounds like AIG is disputing that it is a total loss, but you feel the vehicle is worth more. This is exactly the kind of issue the courts should be deciding. Best of luck.

[Danny_Ocean]

I would do back-flips to get a $4900 check for my F350 Crew Diesel Dually!

[126coupe]

Originally Posted by Danny_Ocean

I would do back-flips to get a $4900 check for my F350 Crew Diesel Dually!

Thanks alot for your help

[turbo6bar]

Are you getting $4900 and keeping the truck?

The cost to repair is not relevant when it reaches their threshold value.

[Danny_Ocean]

Originally Posted by Minkoff

Thanks alot for your help

Here's a tip: Take the $4900.00 and purchase this one for $5600.00. Part-out yours, pocket the change (and sue the other driver for some x-tra folding money):

http://cgi.ebay.com/ebaymotors/1992-Ford-F-350-XLT-4-door-Dully-perfect-cond_W0QQitemZ260182248379QQihZ016QQcategoryZ39416 QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

That's the beauty of Ford Trucks. They made MILLIONS of 'em!

[Dueller]

KBB retail is only $5400 or so. Doesn't matter that you just put a tranny in it whatever the cost. If you get $4900 and keep the salvage you're probably ahead of the game.