Need some help/advice - The 1947 - Present Chevrolet & GMC Truck Message Board Network

berencam · 01-24-2008, 02:52 PM

ok i know most of you guys know my situation with my truck and the insurance company. the question i have is, if and when they lowball me on the settlement for my truck(since it was totaled) what are my legal courses of action. what should i realistically expect to get back for my truck. And finally is there anything i need to watch out for when we are settling this matter. thanks for the help.

**special-K** · 01-24-2008, 09:09 PM

I tallied up all my reciepts and had a total of my own as well as examples of comparable trucks for sale and what they cost.I think,mostlt,you just have to try for all you can and accept what you end up with.

gcburdic · 01-24-2008, 10:45 PM

Hey,

have you read this post

http://67-72chevytrucks.com/vboard/s...d.php?t=185660

not sure if it will help you, but there is some great suggestions mentioned....
Hope this helps in some way and sorry to hear about your truck!!!

berencam · 01-25-2008, 05:01 AM

well the nada suggests its worth no less than 7800 and i have receipts for 9000 not including the 1000 for the truck itself, is 7800 going to be a realistic value?

**special-K** · 01-25-2008, 09:25 AM

Well...really,that ain`t too bad in the insurance world.You`ll definately never get what you had in it.

BurnoutNova · 01-25-2008, 10:24 AM

Quote:

Originally Posted by special-K

You`ll definately never get what you had in it.

x2

realisticly, what could you have sold it for? dont expect to get much more than that. you have to remember repairing things doesnt always make the value of somthing go up, it just maintains the value. insurance companies dont care the engine was brand new, they will pay the same for a truck with 100K on the engine or 50 mile on a cratemotor.

BarryB · 01-25-2008, 11:04 AM

Here My wife is an insurance agent, let me ask her. - Which company is paying for your truck - your insurance or the other person's? If you have coverage on it through a company such as Hagerty then they should give you the full stated value on the policy but if you just have regular collision coverage through a company such as State Farm or it's the other person's insurance then what you can do is get online and print out what a truck like yours in similar condition is selling for such as on EBAY or other auto sites and show these values to the adjuster to argue what you want to get out of it.

HavinSomeFun · 01-25-2008, 11:14 AM

it also depends if you have a stated value policy or a replacement value policy.

berencam · 01-25-2008, 11:15 AM

Quote:

Originally Posted by BarryB

Here My wife is an insurance agent, let me ask her. - Which company is paying for your truck - your insurance or the other person's? If you have coverage on it through a company such as Hagerty then they should give you the full stated value on the policy but if you just have regular collision coverage through a company such as State Farm or it's the other person's insurance then what you can do is get online and print out what a truck like yours in similar condition is selling for such as on EBAY or other auto sites and show these values to the adjuster to argue what you want to get out of it.

its the other guys insurance that is paying for it

69long"n"low · 01-25-2008, 12:12 PM

i dont know how it is down in the states but up here in canad they make u sign a form so they can write it off so dont sign anything or at least be carefull

good luck with it

**old Rusty C10** · 01-25-2008, 01:15 PM

the thing too is that if you put an exhaust on the truck, and its stock they dont cover it they call it maintenance .. if you put a borla exhaust with headers then they cover it ( of course they pro rate it) but that is custom equipment.. so they wont cover anything unless its performance and all.. document everything
also when you price out comp trucks make sure that they are rust free and all this iis prolly gonna be a long fight and they will try to wear you down.. be insistant and threaten the state insurance board and whomever else you can think of

BarryB · 01-25-2008, 03:39 PM

Quote:

Originally Posted by berencam

its the other guys insurance that is paying for it

Well you have some research to do. Find comparible trucks and have printed proof. So you will get FAIR market value. But Insurance adjusters can be JERKS because that is there job to get you to settle for as little as possible. If they say, we'll give such amount of dollars. Just refuse and don't sign any papers until your offered a fair price.

tsetsaf · 01-25-2008, 04:28 PM

Check into your state laws too. The other company is not required to settle with you in most cases. When you are dealing with an at fault's insurance company their duty is only to their insured to make sure the insured does not get sued. They will look at your information and eventually make a reasonable offer that they believe will stand up should the case ever go to court.

Perform the research, gather your receipts, and any photos and create a demand for property damage reimbursement. Be firm but be realistic.

Also recognize that if you have collision coverage you can make a claim against your policy. They may be a little more reasonable in settling as their duty and contract is with you. They will then go back to the other insurance company and get reimbursed.

Finally, if they offer you a CCC Valuescope report call each and everyone of their comparables. In my case I was able to prove bad faith because their comparables were (in this order): A salvage truck, a vehicle with no bed, a mechanics lean, and a non-existent seller.

Based upon those facts I was able to receive a final settlement 50% higher than their initial offer.

Good luck,
Mark

berencam · 01-26-2008, 12:47 PM

it did turn out to be a ccc report, and they listed my settlement at 3300

so looks like another hard road ahead.

tsetsaf · 01-26-2008, 04:04 PM

Do a little research on CCC and you'll find that the company has settled a number of class action lawsuits related to their practices in gathering "comparables".

Should the adjuster be like mine and claim that CCC is always accurate then I would suggest taking him up on the accuracy and follow up with the comparables. People, in general, hate insurance companies and if you call the comps and explain the situation you will find the comp sellers will be more than willing to send a letter detailing how their vehicle is in no way the same shape or quality as yours. (My mechanic lean comp did just that and it threw their whole initial value out the window)

If you are sure of your value and are willing to wait it out eventually you can push for an arbitrated appraisal (you hire an appraiser, they hire an appraiser, and the two battle it out).

It is an unbelievably ugly and unfriendly process.

Best of luck,
Mark

01-24-2008, 02:52 PM	#1
berencam Registered User Join Date: Aug 2007 Location: branson mo Posts: 933	Need some help/advice ok i know most of you guys know my situation with my truck and the insurance company. the question i have is, if and when they lowball me on the settlement for my truck(since it was totaled) what are my legal courses of action. what should i realistically expect to get back for my truck. And finally is there anything i need to watch out for when we are settling this matter. thanks for the help. __________________ 69 chevy c10 350 3 speed manual wood bed build thread here r.i.p. 70 c10 auto 350 build here

01-24-2008, 09:09 PM	#2
special-K Special Order Join Date: Nov 2004 Location: Mt Airy, MD Posts: 85,861	Re: Need some help/advice I tallied up all my reciepts and had a total of my own as well as examples of comparable trucks for sale and what they cost.I think,mostlt,you just have to try for all you can and accept what you end up with. __________________ "BUILDING A BETTER WAY TO SERVE THE USA"......67/72......"The New Breed" GMC '67 C1500 Wideside Super Custom SWB: 327/M22/3.42 posi.........."The '67" (project) GMC '72 K2500 Wideside Sierra Custom Camper: 350/TH350/4.10 Power-Lok..."The '72" (rolling) Tim "Don't call me a redneck. I'm a rough cut country gentleman" R.I.P. ~ East Side Low Life ~ El Jay ~ 72BLUZ ~ Fasteddie69 ~ Ron586 ~ 67ChevyRedneck ~ Grumpy Old Man ~

01-24-2008, 10:45 PM	#3
gcburdic Restoration Virgin! Join Date: Jan 2008 Location: Huntersville, NC Posts: 8,298	Re: Need some help/advice Hey, have you read this post http://67-72chevytrucks.com/vboard/s...d.php?t=185660 not sure if it will help you, but there is some great suggestions mentioned.... Hope this helps in some way and sorry to hear about your truck!!! __________________ Geoff with a G 1968 Chevy C10 SWB The Mistress 1972 Custom Deluxe C20 Suburban A Suburban Named Isabella 1966 Ford Mustang Mama's High School Graduation Present

01-25-2008, 05:01 AM	#4
berencam Registered User Join Date: Aug 2007 Location: branson mo Posts: 933	Re: Need some help/advice well the nada suggests its worth no less than 7800 and i have receipts for 9000 not including the 1000 for the truck itself, is 7800 going to be a realistic value? __________________ 69 chevy c10 350 3 speed manual wood bed build thread here r.i.p. 70 c10 auto 350 build here

01-25-2008, 09:25 AM	#5
special-K Special Order Join Date: Nov 2004 Location: Mt Airy, MD Posts: 85,861	Re: Need some help/advice Well...really,that ain`t too bad in the insurance world.You`ll definately never get what you had in it. __________________ "BUILDING A BETTER WAY TO SERVE THE USA"......67/72......"The New Breed" GMC '67 C1500 Wideside Super Custom SWB: 327/M22/3.42 posi.........."The '67" (project) GMC '72 K2500 Wideside Sierra Custom Camper: 350/TH350/4.10 Power-Lok..."The '72" (rolling) Tim "Don't call me a redneck. I'm a rough cut country gentleman" R.I.P. ~ East Side Low Life ~ El Jay ~ 72BLUZ ~ Fasteddie69 ~ Ron586 ~ 67ChevyRedneck ~ Grumpy Old Man ~

01-25-2008, 11:04 AM	#7
BarryB Senior Member Join Date: Jul 2006 Location: Blountville, Tn. Posts: 3,904	Re: Need some help/advice Here My wife is an insurance agent, let me ask her. - Which company is paying for your truck - your insurance or the other person's? If you have coverage on it through a company such as Hagerty then they should give you the full stated value on the policy but if you just have regular collision coverage through a company such as State Farm or it's the other person's insurance then what you can do is get online and print out what a truck like yours in similar condition is selling for such as on EBAY or other auto sites and show these values to the adjuster to argue what you want to get out of it. __________________ We could learn a lot from crayons... Some are sharp; some are pretty;and some are dull. Some have weird names; and all are different colours;but they all have to live in the same box. You may be only one person in the world, But you may also be the world to one person. * Some mistakes are too much fun to only make once. Two rules in life. 1. Never sweat the small stuff! 2. Everything is small stuff!

01-25-2008, 11:14 AM	#8
HavinSomeFun Still Just Havin Some Fun! Join Date: Jun 2007 Location: Piedmont, Oklahoma Posts: 1,145	Re: Need some help/advice it also depends if you have a stated value policy or a replacement value policy. __________________ a green one with some stuff done to it....

01-25-2008, 12:12 PM	#10
69long"n"low Registered User Join Date: Jan 2008 Location: SURREY BC, CANADA Posts: 278	Re: Need some help/advice i dont know how it is down in the states but up here in canad they make u sign a form so they can write it off so dont sign anything or at least be carefull good luck with it

01-25-2008, 01:15 PM	#11
old Rusty C10 Robert Olson Transport Join Date: Oct 2002 Location: recent transplant to NC USA Posts: 20,281	Re: Need some help/advice the thing too is that if you put an exhaust on the truck, and its stock they dont cover it they call it maintenance .. if you put a borla exhaust with headers then they cover it ( of course they pro rate it) but that is custom equipment.. so they wont cover anything unless its performance and all.. document everything also when you price out comp trucks make sure that they are rust free and all this iis prolly gonna be a long fight and they will try to wear you down.. be insistant and threaten the state insurance board and whomever else you can think of __________________ Bob 1951 International running on a squarebody chassis "If a man's worth is judged by the people he associates himself with, then i am the richest man in the world knowing some of the fine people of this board" http://67-72chevytrucks.com/vboard/a...t.php?f=25&a=9 (you can review the site rules here!) PM Me for your vehicle/parts hauling needs in the North East US or see my Facebook page Robert Olson Transport Live each day to the fullest.. you never know when fate is going to pull the rug out from under you... I hate cancer!!

01-25-2008, 04:28 PM	#13
tsetsaf Registered User Join Date: Dec 2007 Location: Southern CA Posts: 210	Re: Need some help/advice Check into your state laws too. The other company is not required to settle with you in most cases. When you are dealing with an at fault's insurance company their duty is only to their insured to make sure the insured does not get sued. They will look at your information and eventually make a reasonable offer that they believe will stand up should the case ever go to court. Perform the research, gather your receipts, and any photos and create a demand for property damage reimbursement. Be firm but be realistic. Also recognize that if you have collision coverage you can make a claim against your policy. They may be a little more reasonable in settling as their duty and contract is with you. They will then go back to the other insurance company and get reimbursed. Finally, if they offer you a CCC Valuescope report call each and everyone of their comparables. In my case I was able to prove bad faith because their comparables were (in this order): A salvage truck, a vehicle with no bed, a mechanics lean, and a non-existent seller. Based upon those facts I was able to receive a final settlement 50% higher than their initial offer. Good luck, Mark

01-26-2008, 12:47 PM	#14
berencam Registered User Join Date: Aug 2007 Location: branson mo Posts: 933	Re: Need some help/advice it did turn out to be a ccc report, and they listed my settlement at 3300 so looks like another hard road ahead. __________________ 69 chevy c10 350 3 speed manual wood bed build thread here r.i.p. 70 c10 auto 350 build here

01-26-2008, 04:04 PM	#15
tsetsaf Registered User Join Date: Dec 2007 Location: Southern CA Posts: 210	Re: Need some help/advice Do a little research on CCC and you'll find that the company has settled a number of class action lawsuits related to their practices in gathering "comparables". Should the adjuster be like mine and claim that CCC is always accurate then I would suggest taking him up on the accuracy and follow up with the comparables. People, in general, hate insurance companies and if you call the comps and explain the situation you will find the comp sellers will be more than willing to send a letter detailing how their vehicle is in no way the same shape or quality as yours. (My mechanic lean comp did just that and it threw their whole initial value out the window) If you are sure of your value and are willing to wait it out eventually you can push for an arbitrated appraisal (you hire an appraiser, they hire an appraiser, and the two battle it out). It is an unbelievably ugly and unfriendly process. Best of luck, Mark



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