Insurance Super Low Balling Me for Totaled Car.

[djs]

The attorney you spoke to is correct, but to follow up on that, State Farm would be responsible to defend the person you are suing and up to the policy limits, pay the judgement.

But... again, you have 8K in damage if I recall. Have them pay to fix that. They won't pay $20K for a car with 8K in damage. Won't happen.

Also, what the cars are listed at isn't relevant. What do they sell at. Obviously, you think this is a collector car of some sort, so they are always listed higher than selling price.

Dan

 

[GeminiGroup]

For Pete's sake...TELL us what type of car?????????

There are a bunch of MEN on here, dude.
This is our 'crack'
our 'soap opera cliffhanger'

You got great FREE advice, now give us the GD 'fix'
This is the closet heterosexual males get to must know GOSSIP....

Give us the 'goods', man....
What kind of CAR are we talking here.

Grown men are chomping at the bit to know?????

 

[senior-advisor-indiana]

For Pete's sake...TELL us what type of car?????????

There are a bunch of MEN on here, dude.
This is our 'crack'
our 'soap opera cliffhanger'

You got great FREE advice, now give us the GD 'fix'
This is the closet heterosexual males get to must know GOSSIP....

Give us the 'goods', man....
What kind of CAR are we talking here.

Grown men are chomping at the bit to know?????

Are you saying that you want to know what kind of car it is? Why are you being so vague?

 

[xrac]

We now have a new mystery. What kind of car is it???

 

[senior-advisor-indiana]

We now have a new mystery. What kind of car is it???

I'm glad someone finally asked. I was wondering the same thing....

 

[scand1]

For Pete's sake...TELL us what type of car?????????

There are a bunch of MEN on here, dude.
This is our 'crack'
our 'soap opera cliffhanger'

You got great FREE advice, now give us the GD 'fix'
This is the closet heterosexual males get to must know GOSSIP....

Give us the 'goods', man....
What kind of CAR are we talking here.

Grown men are chomping at the bit to know?????

yup sorry for not including that, its an 89 bmw m3

 

[xrac]

Yahoo! Search - Images

 

[insurancexpert]

All good advices. Please let us know what you have finally decided and what is the outcome. Lesson for next time: Go for "Agreed Value" or "Stated Value" policy for such cars.

 

[scand1]

ok heres a little update..

I talked with the insurance agent 3 times, spent a good hour and a half arguing about the value during one of the calls, he said he'd see what he could do on his end, got back to me and they arent going to change their offer.

so my next option is legal action with the person who hit me. any advice as far as finding an attorney, and any tips on what i can and should do on my end would be great.

I've started keeping records of what these cars are selling for, there arent many for sale at one time, so getting records of the asking, and selling price in the chance that i catch it before the ad is removed is pretty difficult, but its something. I mean, ive been watching these cars for the last 5 months or so, searching every site i can find that might possibly have one for sale, and i have not found ONE in the entire country (thats a complete car or non salvage) that has sold for the price their offering, or less. ive found two very poor examples, paint in absolutely terrible condition, very high mileage, rusty, etc.. and both were selling in the 13's. ones still for sale, dont know what the other sold for. and mine is definitely in good condition, not amazing, but for sure above average, rebuilt engine, new paint, lots of work done to restore the suspension, etc..

so considering all of that, i would think i have a good shot at proving that what the insurance company is offering, is not what the car is worth, they have the NADA value, but thats all they have been using.

 

[djs]

Lets say the value is $15K
Repairs are 8K

Have them fix it. Stand firm on that. There is no reason to total it if this is the situation.

Now, if you feel the car is worth over $15K, why would you not have had full coverage on it? There seems to be something out of whack with this. Okay, probably no requirement to have full coverage, just curious why you wouldn't carry a stated value policy to protect yourself.

Dan