Insurance is totaling my truck.

[Fastest32]

So I got rear ended on Tuesday and of course they're gonna total my truck. I was hit from behind and shoved into the truck in front of me. I get that they wanna total my truck cause it's old but they're telling me that market value is only 2500 and that's all they have to pay me. This week has been a huge headache and now I have to go through all this bs just cause I was hit. I'm so pissed. I faxed them a bunch of trucks like mine on craigslist that are going anywhere from 5 to 10k. So heartbroken. I just got spindles and a notch to flip it too.
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[mongoose]

that's usually what they do unless it gets appraised.

do you have any receipts for the truck?

[Indian113]

Is the insurance company of the guy who rearended you telling you that? I would get my own insurance involved quick

[Fastest32]

I have a bunch of receipts. I still have hope that I will get what I have in it but I know it's gonna be huge pain in the ass. They're being total jerks about it too.
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[ozark]

I feel for you, my wife and I are going through the same thing. A girl ran a stop sign and took the front off of my wifes car. The girls ins. located a car that was already sold and asked the dealer what would be their lowest cash price they would have taken for the car, and that is what our car is worth. The car they used to base the price of ours for was not as good shape. After hiring a lawyer we are not any better off. We have been fighting this for 2 months now and no car for my wife to drive. Another snag is I can't give a cash price for a car, we have to finance through a dealer because our local banks have gotten strict with lending and don't loan on a car that is over 4 years old now or go in debt more to buy a newer car. We were trying to pay off things because we are needing to build a new house desperately and now this. Our insurance co. has not been any help whatsoever. Also beware of insurance adjusters that use the computer program CCC valuescope to help value your vehicle.

[Fastest32]

Originally Posted by ozark

Also beware of insurance adjusters that use the computer program CCC valuescope to help value your vehicle.

That's exactly what they're using. The two vehicles they used to compare were an 83 with a straight 6 and an 84 diesel. The bodyshop manager at my work is being very helpful and has given me good advice. My fingers are crossed but my hopes aren't too high.
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[Fastest32]

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[ozark]

ccc valuescope does just what I said, they send reps out to dealers and find out what the lowest cash price the dealers will take for a car. Our car was a SE the higher end and after the lawyer made the adjuster submitt the papers (the adjuster wouldn't let me see it) they were using LX models the base models and were using cars that were 175 miles from our home, they are only supposed to use car prices at a 100 mi radius from our home.

[Benelli]

Owch man!

I really hope stuff gets better for you. Sharp truck, too bad.

[SeanPaintsFlames]

That sucks. I had a similar thing happen to my 66 the day I finished all the paint work on it- almost the same damage as well. They were offering me a couple grand, but after I handed the adjuster a folder with $15k worth of receipts in it, they had a $15k check to me within a week. Add up all your receipts- oil, nuts and bolts, everything- and put it in a spreadsheet of some sort. It's good that you have pics as well.
If it all comes down to it, you could maybe buy it from them and fix it for pretty cheap. Then you have good excuse to tear into it and go crazy with the rebuild. Just keep your cool, despite how much you want to punch the insurance guy in the throat.

[Fastest32]

Yeah I'm still working on receipts but the lady didn't really seam to care when I told her how much money I have in it. She said some of that stuff brings the market value down. She was pretty cold hearted.
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[ozark]

Originally Posted by Fastest32

Yeah I'm still working on receipts but the lady didn't really seam to care when I told her how much money I have in it. She said some of that stuff brings the market value down. She was pretty cold hearted.
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thats the way the adjuster was with us, we just spent 500 on the a/c the day before the wreck and new tires a week before he just said that was normal wear stuff. Today the salvage the insurance co. uses called to pick the car up and we have not recieved a payoff yet for the car.

[thepenguin99]

Wow that truck is really nice. I think I would have to shoot for something along the lines of 5k + keep the truck. Is the frame bent? I know the cab is tweeked but it looks like it might be repairable.

[RandyP]

Any older vehicle that you've spent tons of money on to restore or refresh, you should insure for a stated cash value, just make sure you can back up your value with receipts. At least then you could turn it over to your carrier and get paid the proper amount, and let them sic their lawyer team on the company who is at fault.
I had an 86 GMC that I'd spent about 10k on, mostly engine and interior, this was back in the mid 90's. Truck was stolen out of my drive way, my insurance company tried to pay me $2500 as book value. Once I produced my stack of invoices they paid me $12,500 minus my $500 deductible. The stated value policy did not cost all that much more either, it just basically is a "book value be damned, here is my receipts" valued policy. Not all insurance carriers have it though.

Looked like a beautiful truck man, sorry for your loss. You can at least yank your wheels off of it and put on some rallies with junk tires. Same with the stereo and such. Adjusters tell us "as long as their is a radio in it, it doesn't matter". And they mean inside it, like it could be laying in the seat and it's still in there.

[thepenguin99]

Originally Posted by RandyP

Any older vehicle that you've spent tons of money on to restore or refresh, you should insure for a stated cash value, just make sure you can back up your value with receipts. At least then you could turn it over to your carrier and get paid the proper amount, and let them sic their lawyer team on the company who is at fault.
I had an 86 GMC that I'd spent about 10k on, mostly engine and interior, this was back in the mid 90's. Truck was stolen out of my drive way, my insurance company tried to pay me $2500 as book value. Once I produced my stack of invoices they paid me $12,500 minus my $500 deductible. The stated value policy did not cost all that much more either, it just basically is a "book value be damned, here is my receipts" valued policy. Not all insurance carriers have it though.

Looked like a beautiful truck man, sorry for your loss. You can at least yank your wheels off of it and put on some rallies with junk tires. Same with the stereo and such. Adjusters tell us "as long as their is a radio in it, it doesn't matter". And they mean inside it, like it could be laying in the seat and it's still in there.

I think what you actually want is an agreed value policy. You produce pictures/receipts on the front end and you know exactly what you will get if the car/truck is ever totalled. Stated value you still have to prove to the insurance company that the car/truck is worth the stated value after the accident.

[Fastest32]

I'm not sure if I wanna fix it or just start over again with a totally straight one. The painter said he'd paint it for cheap and I know one of the body guys can help with body work plus I can to all the parts swapping myself. After it happened I just wanted to quit and buy a crappy little car and be done with it. I really just gotta focus on getting as much as I can for it before I decide. If I could somehow end up in an 87 and transfer parts to it that would be ideal. But that's wishful thinking.
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[Big Port Jimmy 6]

Originally Posted by ozark

thats the way the adjuster was with us, we just spent 500 on the a/c the day before the wreck and new tires a week before he just said that was normal wear stuff. Today the salvage the insurance co. uses called to pick the car up and we have not recieved a payoff yet for the car.

Do Notrelease the car with out a check. You lose your leverage when you no longer have the car.

[ratty 46]

I work in the insurance biz for 15 yrs. - the key to success is ... paperwork. Your paperwork & your ability to present it to the insurance carrier.

Comps on craig's list, mautofied, fleebay, etc is a plus & will have trucks in SIMILAR condition.

If you present this & stand hard on your values you might be surprised. This is despite the douche bag that you'll have to deal with at the insurance company.

If you were not at fault find out who was the carrier of the person at fault & persue that first.

Ratty 46

[THE "10" SILVERADO]

Originally Posted by Fastest32

I'm not sure if I wanna fix it or just start over again with a totally straight one. The painter said he'd paint it for cheap and I know one of the body guys can help with body work plus I can to all the parts swapping myself. After it happened I just wanted to quit and buy a crappy little car and be done with it. I really just gotta focus on getting as much as I can for it before I decide. If I could somehow end up in an 87 and transfer parts to it that would be ideal. But that's wishful thinking.
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You know even though right now my truck isn't all that much, if I got in a wreck I would not want to part with it....I'd still want to keep it and just repair it....unless I got more than what it's worth....then I'd get a new project

[treetop_73]

I'm an adjuster but for property not auto or liability.

The squeeky wheel gets the grease with insurance companies. Keep fighting and taking it higher and higher in the company. I had a claim that I denied based on the policy. Obvious wear and tear, mold, long term. Pretty much a dirty lady let water drip in her home, mold everywhere, and when her kid got sick the dr said the mold wasn't helping. She filed a claim for the water damage, I denied it. She complained to anyone who would listen and those who didn't listen referred her up. The 2nd highest position in the state for the company was in my file after she got a hold of him. His note said, "Pay this claim". It was paid the next day. Just keep fighting, someone will give in just to make you go away.

[zimmstoy]

I am in Austin too. Sorry to hear about what happened here. I am picking up a straight 87 SWB next weekend for parts. If you are interested in the cab and front clip OR even the entire roller. I am sure we can work something out. It is straight and never been hit, just stripped down. Has a clear title. I was planning to use the suspension and sell the rest off rolling.

[TheWhiteElephant]

There are a few things to consider, and with all due respect and without wanting to step on any toes here, this thread has a lot of misinformation about your situation.

First, is it the at-fault party's insurance that is paying your damages, or is it your own insurance company that is paying your damages through your collision coverage? CCC uses values for comparable vehicles in your own market based on your zip code. They DO NOT have to stay within 100 miles. If there are not enough comparable vehicles in your market, they can definitely expand.

The tough part of using a "custom" older vehicle as a daily driver is that it is not necessarily "special" to a market. In other words, you may have a $10K paint job or $5K wheels that will actually hurt the value of the vehicle because an interested buyer may not want your paint job or wheels. Same principle as having an airbrushed anything on your hood.

Maintenance receipts will not necessarily add value to your vehicle, but they will definitely HURT the value if it is lacking in maintenance. In other words, a brand new windshield or a new A/C system, new radiator, new belts, etc. will not bring up a vehicle's value in a market because a potential buyer would expect these things to work when considering a purchase. On the other hand, if your windshield has cracks, needs belts, A/C doesn't work, then you better believe that the buyer will use that against you. If the receipts are fairly recent, they should help you in some way, but don't expect dollar for dollar value.

When your vehicle is declared a total loss, you do have the option of "buying" it back from the insurance company. In other words, they will offer you a value to take the vehicle--pay you market value, taxes, and title transfer fees less deductible (if using your own policy--no deductible applies if the at-fault carrier is paying you). If you want to keep the vehicle, they will pay you market value (with no taxes) less the salvage quote--the guaranteed value that a local auction will get when auctioning the salvage.

If the other party is paying your damages, agreed values/stated values mean nothing. These terms only apply to your own policy and only if you are using your own policy. One thing to consider that MIGHT be an option is to ask the insurance company if they can determine the value of your vehicle as a "specialty/custom" vehicle.

When the insurance company makes you an offer, they are obligated to provide paperwork to you that fully explains HOW they arrived at that offer. They should have a printout explaining all this in detail.

The other sad fact about market values is that for example, a 1979 Chevy is just that--a 30+ year old vehicle, so the "comparables" they find are in all likelihood NOT going to be comparable to your vehicle since your vehicle is not your average 1979 truck.

If you don't have collision coverage on your policy, it would be pointless to notify your insurance company because they will only get involved if you have the proper coverage to repair your damage.

One of the biggest determining factors in values is mileage and condition. And did I mention mileage? Your truck looks to be in above average shape.

Above all, take the advice you read on an internet forum (including mine) with a grain of salt. Do your own research and a huge word of advice--keep cool and reasonable. If the adjuster sees that you are a reasonable person just trying to be indemnified, then there is a big chance that she will really want to help you and work to get the value you feel is fair.

Last thing--insurance laws in Texas are VERY different from insurance laws in other U.S. states, so advice being offered here may be totally incorrect if coming from someone in another state.

I hope this helps.

[y5mgisi]

Great reply!

[83burban]

I really hate reading these posts and seeing these pictures. Living in Los Angeles most of my life, I have seen so many nice cars destroyed by sh*t cars with un/under-insured drivers. The insurance companies aren't there for you unless your car is 2 years old or newer - the only thing they are good for is dealing with medical bills - and even then they can bend you over if you don't know how to cover yourself adequately.

I have been looking at the agreed value coverages recently, since I have in total 4 "classic" cars:

76 AMC CJ7
62 Chevy C10
70 Mercedes 220
83 Suburban

Couple things you may want to note. I am not even eligible for this coverage yet, since I am only 22. Of all the major places - Hagerty, Heacock, etc, the only one that I found that would suit me personally when I turn 25 is Lelandwest.

You can select unlimited annual mileage and occasional commuter use, something that many others do not do. I haven't done a ton of research on companies yet since the only car I drive is my Suburban and I wont be eligible for it for a couple years anyways, but its worth it for others to look at it in my opinion.

Sorry for the loss, hope that you can recoup as much as you put into it

[1LOW4X4]

God dammit this pisses me off to no end.

I would DEMAND another adjuster to handle my claim. Cold hearted ***** would be out the door.