A Kid run a red light and really messed up my 1980 911

[SiberianDVM]

Originally Posted by WANNA930

Is the $5k for the total ACV of the car or is it for the settlement amount? They are two different things. ACV is what the car is worth at the time the value is ran. The settlement amount is taking the ACV and then adjusting for what is the percentage they owe for the loss.

Unless you are rear ended the chances of you getting 100% form a third party carrier is about zero. YOU have negligence in the accident if you believe that or not. If your car is hit in the nose unless you have a signed police report saying other party broke a law and was issued a ticket for doing so at the scene you are not getting more then 50% and most likely about 30%. The moment you leave that scene the other driver is talking to his council (most likely his friends) and is now blaming YOU and changing his story.

Comparative negligence is what they will explain to you. So if your car was worth $15k they will offer you say 30% which would be $4500 then you would add your taxes. It has nothing do do with a fair value it is the law like it or not.

Your attorney isn't going to get you a penny more for your ACV and they have zero interest in that portion of the case no matter how much more you get for the car. As for getting an attorney the day after you were in a loss before you had time to be diagnosed well that doesn't need explanation. There of course are exceptions if you were taken from the scene and still hospitalized.

What people do not understand is Insurance Co have heard every story and every scenario. I honestly hope you get the amount you are do and if you are injured you are ok. I am only answering the questions from about 15 years of experience. Insurance adjusters are not out to get anyone and would rather pay you and get that file off their desk.

People make the mistake of saying the are getting an attorney as a threat and it backfires if they do not follow through.

Is the $5k the total ACV or the settlement amount?

$5k is what they said. The other driver was cited for running a stop sign and driving with an expired license. I was not cited. The other driver was 100% at fault.

I called the lawyer while I was at the ER being poked, prodded, x-rayed , and having my wallet raped.

C'mon, you are saying I should take a $30k loss on this and that's the law? Bull****.

[karguy]

A couple of quick points......

1. When you are hit by someone else, the LAW determines your loss, NOT the at fault driver's insurance contract, OR insurance company. The law says they must "make you whole" or put you in the exact same position you were in before the wreck.
2. You are entitled by law to "loss of use". This is NOT "rental car" coverage so don't let them lie to you and tell you you don't have rental coverage or the at fault driver's coverage doesn't pay it. Loss of use is the value of a SIMILAR car for the period yours is inoperable. Telling them you are demanding loss of use is one way to speed the process along.
3. You are also entitled to "Diminished Value" which is the loss in value AFTER it is fixed. Let them know that up front too as it will help keep them from cutting the estimate so cheap they screw up your car. The insurance co will report your car's wreck to Carfax. The buyer will get a carfax. Your car is now worth about 20% less even if the repairs are great and a lot less if the repairs THEY said to do are bad.
3. If their appraiser prepares the estimate THEY are responsible for the repairs! They are the ones that told the shop what to do and what not to do,
4. You can always turn in the claim with your own carrier.

There is a ton more, but these are some basics.

[Jerome74911S]

Wow. Now I am so glad that I live in a place with No-Fault car insurance laws. An accident occurs: my insurance pays for my car, and the other guy's insurance pays for his car. No fault on anybody's part enters into it, including when my wife hit a turkey. There were feathers stuck in the grille, so they paid to replace the grille. The turkey evidently had no insurance, but it was delicious, so it actually paid a price.

My insurance pays (minus the deductible) whatever would take to repair my car, up to the agreed value in the case of my Porsche. At the moment my wife's car is covered by actual cost of replacement, meaning that even though her car is a couple of years old, they will buy her a new one if it gets totaled. There was an extra premium for this, but it was very small.

[86 ssinit]

Ok ? DVM did you have an agreed value on your car?

[SiberianDVM]

Years ago, Georgia was a no-fault insurance state, back in the 70s, IIRC. It was touted as a way to streamline the system. Somewhere along the way, it got changed back to a at-fault insurance state. Probably, some state legislator, who owned an insurance company, figure out he could make more money that way.


I only had agreed value insurance for track day insurance, with Lockton. I'm starting to wish I had trashed it at VIR.

[theiceman]

Originally Posted by Jerome74911S

Wow. Now I am so glad that I live in a place with No-Fault car insurance laws. An accident occurs: my insurance pays for my car, and the other guy's insurance pays for his car. No fault on anybody's part enters into it, including when my wife hit a turkey. There were feathers stuck in the grille, so they paid to replace the grille. The turkey evidently had no insurance, but it was delicious, so it actually paid a price.

My insurance pays (minus the deductible) whatever would take to repair my car, up to the agreed value in the case of my Porsche. At the moment my wife's car is covered by actual cost of replacement, meaning that even though her car is a couple of years old, they will buy her a new one if it gets totaled. There was an extra premium for this, but it was very small.

Yeah im not so sure no fault insurance works that way ...

it is true that each insurance pays for its own damage. The fault is not decided in a court and this keeps costs down. But the isnsurance comapnies very much do assign fault internally and pay each other based on the acident and some fancy tables.
Also they assign an "at fault driver" even though you may not hear about it till later.

[SiberianDVM]

Georgia Farm Bureau just revised their "offer" to $19,500. We're getting there. Slowly.

[mbbnyc]

I did almost the same thing on the 405 Fwy in 08" two college age girls in a PT Crusier merged into the exit lane at the last minute. I had no where to go.
They got out and wanted to "Give me a couple hundred bucks for damage to my old car" I said you should call your insurance company and your daddy now.
I went back the next day and was able to get video evidence of my skid marks In the lane and past the solid line.
Their insurance ended up paying for it all (after they tried the 80/20 thing) I had less damage and it was $4500 by a VERY good shop out here in LA
Everyone is right as long as the frame is fine She will run again

Good luck that sucks tho

[Bob Kontak]

Originally Posted by SiberianDVM

Georgia Farm Bureau just revised their "offer" to $19,500. We're getting there. Slowly.

Thank God. Just over half way there.

[86 ssinit]

It looks like the way to go with insurance is with collector car insurance and an agreed value on your car. Can you get an agreed value with a standard insurance company?

[SiberianDVM]

Originally Posted by Bob Kontak

Thank God. Just over half way there.

Yep. In GA the minimum liability required is $25k, and that's what a lot of people carry, so I will probably end up having to go after the car owner personally. Probably not a lot of joy, but they pissed me off.

[onboost]

Originally Posted by 1980 911

Nothing yet. The adjuster called me Friday to tell me that it could be a total loss and he also needed a copy of my Bill of Sale since the car was just recently purchased. Well, I have not provided that bill of sale so far and I am kind of waiting to see what he comes up with.

Firstly, you should not have disclosed that you recently purchased the car.. not really any of the ins companies business.

Ok, so now you're in a position where you have to do the dance.. as they are probably looking to total based on year, and perceived value.

What I would suggest is that you begin to look at and make copies/documentation of what cars similar in year and condition have recently sold for.. or are offered at.. You can use the Pelican Forum, ebay, and Hagerty Ins values.. you may also want to check Kelly Blue Book online.

You'll do this to both suggest that you know what your car is worth and that you are not going down without a fight! If all else fails defer to them with.. "fine, you guys go out and find me a car of equal value.. in essence, you replace my car." Won't likely happen, but it's an "oh sh**" moment for them where they are used to getting duh.. ok.

Good luck!

[Turpin]

Hey guys,
My experience with J.C Taylor was great! The short story... I was driving my 70 914 home from work and slam! A car smashed into driver side front. J.C Taylor paid the full amount of the policy.
J.C Taylor is great. I would recommend them to anybody with a specialty car.

Russ

[WANNA930]

I think the OP has gone so this is kind of a dead issue.

Lot's of bad info here and guys kind of repeating what they have heard over the years.

In order to make you an offer they had to do a market evaluation. Everybody keeps thinking they are smarter then the Ins Co and have more resources then a Fortune 500 Co. Your title and registration clearly list when car was bought so what is the secret? There is no ah sh moment for someone who does this everyday. Again work with them not against them.

Having no license does not mean they were at fault in the loss.

Where is your evaluation??? It will list comps they used. Are you going first or third party here?? Are they deducting a salvage value of $5000 which you mixed up as the ACV??

KARGUY Tell me how that Diminished value work sour for you on a car that is a total loss, actually tell me about all those successful DV cases you have handled.

[SiberianDVM]

In my case, the insurance adjuster is the one who is mixed up. She called me with the $5000 offer when she meant to call the at fault car's owner. After I called her back (and got voicemail), she realized her mistake and called me with the $19,500 offer. Still too low. I called her again yesterday (and got voicemail) to ask if she had gotten my latest fax. No response as yet.

I have called this insurance twit at least 10 times, and have never gotten her on the phone. Not once. Voicemail every time. That's some great advertising for customer service right there.

I got a letter from court yesterday that the at fault drivers arraignment is Dec 31. Normally, if there is valid liability insurance, the aggrieved party doesn't have to go to these, but since Georgia Farm Bureau is still playing stupid, I will probably have to take off work to go and make sure this guy doesn't get off completely free.

WANNA930, feel free to tell me again how stupid I am. For somebody with no dog in this fight, you sure are free with the criticism. Do you by any chance work in the insurance industry?

[jlex]

Don't know how it is in other states, but here in PA, no fault insurance is relevant in personal injury issues only. Your own carrier pays for your own medical claims regardless of fault. No fault laws were designed to implement medical coverage immediately without having to prove it was the other guy's fault. When it comes to property damage or pain and suffering associated with the personal injury (special damages), the issue of proving negligence on the part of the other driver to obtain a damages decision is still the plaintiff's burden of proof.

[Bob Kontak]

Originally Posted by SiberianDVM

WANNA930, feel free to tell me again how stupid I am. For somebody with no dog in this fight, you sure are free with the criticism.

He is just a damned fountain, brimming with wisdom and kindness.

If you boil it down to WANNA's main point - work with vs against - his rant ain't that bad.

Assuming the transaction amount of your recent purchase is a matter of public record. If you were a bit thin on the transaction value to save some tax dollars, does that create a catch 22? Just asking, not accusing.

[SiberianDVM]

Oh, I have no problem with telling the insurance company what I paid for the car, but my purchase was 3 years ago, before the prices of SCs and 3.2 Carreras started going up, up, up. I think it was the other victim in this thread who may have not wanted to say.

If I could buy my car all over again for what I paid for it, I would take their offer today. But I can't, because prices have more than doubled.

Anyway, I just got another voicemail from the twit. They went up another $200 (Wow!) and said because the car's interior had been removed, and the motor had high miles, that's as high as they can go.

I countered with the fact that I have ALL of the interior in boxes in my garage, ready to go back in anytime, the latest Blackstone oil analysis showing a still great engine, the Autometrics dynamometer reading showing 209 hp at the wheels, and the Autometrics invoice showing engine drop, check, reseal, valve adjust, and transaxle rebuild.

I'm ready to settle for a reasonable amount, but they aren't. Yet.

[Bob Kontak]

Originally Posted by SiberianDVM

Oh, I have no problem with telling the insurance company what I paid for the car, but my purchase was 3 years ago, before the prices of SCs and 3.2 Carreras started going up, up, up. I think it was the other victim in this thread who may have not wanted to say.

My apologies. You are correct.

Have they talked by-back of the car amount?

[SiberianDVM]

Originally Posted by Bob Kontak

My apologies. You are correct.

Have they talked by-back of the car amount?

No. We haven't gotten past the "laughing at each other's offer" stage yet. What makes it doubly difficult is that I have yet to talk to a live person. Voicemail only.

I hope they get coal and switches for Christmas.