Got my car appraised today..

C

Chaz

Guest
I'm with State Farm. They did a "stated amount" policy on my 90 Sup for 15 K. All my agent did was take some pictures. I guess it depends on the agent you are dealing with. I think I would of lost my composure if someone said my car was worth 1500. There is little respect for the rice burners in our country as compared to the american muscle from the same era. I've had nothing but American muscle cars before this Supra and I always made money on them. I know thats not going to happen with this car, but this car, I bought for me. It will be a sad day for me if I ever had to sell it, irreguardless whether I make money on it or not.
 

NCSupraowner

New Member
Sep 29, 2008
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Could you guys pm me what insurance company you using? not asking for a recommendation in the forum, but a pm would be great.
 

figgie

Supramania Contributor
Mar 30, 2005
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Twin Cities, Minnesot-ah
Chaz;1215108 said:
There is little respect for the rice burners.

Respect?

**Where the hell do people get this absurd notions.**

To an insurance company. It is all about one thing and one thing alone.

THEIR bottom line. They could give two rats asses about "respect".


On the A/C front. I have to laugh, hysterically. $1500 sounds about right as that is how much A/C used to cost around before it became a standard option. Taking a hit in devalumentment because it is missing is a GOOD thing, save for the monkeys (Duane, that includes you too ;) ) that took A/C off for "weight savings" or whatever is the reason this year. lol
 

tissimo

Stock is boring :(
Apr 5, 2005
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Melbourne, FL
I think 5k is generous without a/c. The non working airbag tells me the car has electrical problems and devalues the car even more.
 

tsuper92

supra addict
Apr 7, 2005
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i pulled the a/c,airbag, and abs from my car.the insurance company might want money from me in the event of a total loss:)

good luck getting the number higher though
 

ZoomZoomZoom

On the road again..
Dec 9, 2007
443
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KY
figgie;1215262 said:
Respect?

**Where the hell do people get this absurd notions.**

To an insurance company. It is all about one thing and one thing alone.

THEIR bottom line. They could give two rats asses about "respect".


On the A/C front. I have to laugh, hysterically. $1500 sounds about right as that is how much A/C used to cost around before it became a standard option. Taking a hit in devalumentment because it is missing is a GOOD thing, save for the monkeys (Duane, that includes you too ;) ) that took A/C off for "weight savings" or whatever is the reason this year. lol

$1500 was for AC and airbag.

tissimo;1215293 said:
I think 5k is generous without a/c. The non working airbag tells me the car has electrical problems and devalues the car even more.

Naw, previous owner pulled the front airbag sensors out plus the a/c. Probably when the engine got replaced. If I'm not mistaken, he wanted to race the car. The appraiser (who also does accident reconstructions) did not see enough damage to the car to indicate that the airbag ever deployed. But it does suffer from the usual electrical gremlins that all my previous supras had.

On the subject of airbags, I told the appraiser I was afraid to set it back up because it was first generation and I sit close to the wheel. He said after all he has seen in accident reconstruction, he said the airbag was well worth it. I also asked, even if the airbag system was intact, how could I be sure it would work after 18 years? He said it would have. He said they are some of the best built components in any car, and from his experience the first generation bags are still very reliable to this day. So I guess I'm going to price out some sensors from Champion..
 

deabionni

The Lurker
Sep 16, 2007
431
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Kalkaska, MI
tsuper92;1215497 said:
i pulled the a/c,airbag, and abs from my car.the insurance company might want money from me in the event of a total loss:)

Lol, I know that was meant as a joke, but as an insurance agent I'm only going to say this for those who modify their vehicles: (That's practically all of us, right)? ;)

*Most insurance companies have a clause either in your insurance policy, or the very contract (application) you signed that basically reads something along these lines. ~ Any modifications you make to enhance or alter either the performance or safety of your vehicle from stock, could be grounds enough alone to void your policy in the event of a loss.*

In other words, if you modify your vehicle at all (removed air bags, ABS, altered suspension, upgraded turbo, etc.); it's most defiantly in your best interest to get your agent on the phone and let him/her know what's been done to the vehicle. Not only could you not get what your car is worth, but in a worse case scenario; they could use your modifications as an excuse to void your policy, and pay out nothing altogether. If they void your policy, they make it like you never took out that policy in the first place. Believe me, as an agent, I've seen it happen more than once.

Example: I swapped my GE engine for a GTE engine, and I needed to switch the insurance company I was with; as my current company wouldn't allow ANY modifications to the vehicle from stock, and would deny ALL claims I would make with my modified Supra. My new company has no problem insuring the Supra with the GTE engine, and is insuring my car for "agreed value". (Meaning I get paid out in a claim the actual value of my vehicle, and not the market value of the vehicle). The piece of mind of knowing that I'm going to receive what I know my car is worth should something happen, and that I won't be jerked around during a claim was worth a few minutes of my time of shopping around for the right company.
 
Apr 10, 2008
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South East USA
If you wrecked your Sup' wouldn't you want to own the wreck so you could move parts to the new Supra you bought ? Insurance companies as mentioned are interested in low balling and showing a profit. I had a car stolen once and they were low balling so bad it was pathetic. Car was recovered and lesson learned. I wouldn't want collision on the Supra cause the parts are worth too much to me. Getting it appraised for more sounds good however has anyone actually gotten the money from a stolen high appraised car ? Do some searching and you find that with higher cost cars the insurance company comes after the owner accusing them of fraud etc. BTW I had Geico lowballing me.
 

ZoomZoomZoom

On the road again..
Dec 9, 2007
443
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KY
easternguy2005;1215949 said:
If you wrecked your Sup' wouldn't you want to own the wreck so you could move parts to the new Supra you bought ? Insurance companies as mentioned are interested in low balling and showing a profit. I had a car stolen once and they were low balling so bad it was pathetic. Car was recovered and lesson learned. I wouldn't want collision on the Supra cause the parts are worth too much to me. Getting it appraised for more sounds good however has anyone actually gotten the money from a stolen high appraised car ? Do some searching and you find that with higher cost cars the insurance company comes after the owner accusing them of fraud etc. BTW I had Geico lowballing me.

I've read many an instance where the supra owner bought the car back from the insurance company for parts. I guess anything is negotiable.

There is a point where collision coverage is a bad idea. And there is a point where its a good idea. On my policy the difference between full and liability was less than a $100. After putting all the work into the car, the choice was easy.
 

deabionni

The Lurker
Sep 16, 2007
431
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0
Kalkaska, MI
ZoomZoomZoom;1215997 said:
I've read many an instance where the supra owner bought the car back from the insurance company for parts. I guess anything is negotiable.

Whenever a car is considered a complete loss, the insurance company can turn around and sell what's left of the car to try to recoup their losses. In most cases, they'll give the owner of the car first dibs to purchase the car back from them. (Usually you can get the car back for just a fraction of what your claim check is, and they'll just deduct the price of the car from your claim check).
 

Who

Supramania Contributor
ZoomZoomZoom;1215997 said:
There is a point where collision coverage is a bad idea. And there is a point where its a good idea. On my policy the difference between full and liability was less than a $100. After putting all the work into the car, the choice was easy.

Your right about the price difference. With allstate the price difference was just over $100 every 6 months. But now lets consider why the collision is so low. The insurance companies are nice guys aren't they? They figure the total payout is only $1.5k or less minus your deductible so if you get into an accident the expensive body shop repairs don't factor in. If you try and get your car fixed they total it. If your so poor that you can only drive an old car with no value than they figure on you driving around with a big dent or with your hood tied down. If you loose your car, you loose your transportation, you loose your job. You can't buy a car for $1.5k so you keep your dented car and drive it to work. No payout again, they win. Remember your poor and you can't afford a lawyer or representation. So you take what they give you with a smile on your face. Don't forget they have the final say on the payout.
:kickinthenuts:
On the flip side your liability coverage is usually more when you compare it to a new car. Hello... they gotcha again. You've got to remember that these insurance companies have a team Harvard MBA statistical analyst running numbers 24/7. Its hard to beat them. Bottom line they low ball you on the collision and quickly recoup their payout ,if ever, for a totaled car in a few years.

I would guess that your stated value insurance would cost you considerably more. If the quote doesn't change, than something sounds fishy. Make sure you double check your policy. Remember you've got to have all the bases covered with the insurance company. Its you against them baby. :)
 

tsuper92

supra addict
Apr 7, 2005
1,376
0
0
54
mass
deabionni;1215601 said:
Lol, I know that was meant as a joke, but as an insurance agent I'm only going to say this for those who modify their vehicles: (That's practically all of us, right)? ;)

*Most insurance companies have a clause either in your insurance policy, or the very contract (application) you signed that basically reads something along these lines. ~ Any modifications you make to enhance or alter either the performance or safety of your vehicle from stock, could be grounds enough alone to void your policy in the event of a loss.*

In other words, if you modify your vehicle at all (removed air bags, ABS, altered suspension, upgraded turbo, etc.); it's most defiantly in your best interest to get your agent on the phone and let him/her know what's been done to the vehicle. Not only could you not get what your car is worth, but in a worse case scenario; they could use your modifications as an excuse to void your policy, and pay out nothing altogether. If they void your policy, they make it like you never took out that policy in the first place. Believe me, as an agent, I've seen it happen more than once.

Example: I swapped my GE engine for a GTE engine, and I needed to switch the insurance company I was with; as my current company wouldn't allow ANY modifications to the vehicle from stock, and would deny ALL claims I would make with my modified Supra. My new company has no problem insuring the Supra with the GTE engine, and is insuring my car for "agreed value". (Meaning I get paid out in a claim the actual value of my vehicle, and not the market value of the vehicle). The piece of mind of knowing that I'm going to receive what I know my car is worth should something happen, and that I won't be jerked around during a claim was worth a few minutes of my time of shopping around for the right company.
it was a joke.

i wouldn't be looking to collect money for wrecking my car.if someone else hit's me,thats a different story.i don't see what difference it should make what's done to the car.i don't see why anybody should be looking under the hood,after let's say someone rear end's you.

i would understand an insurance company not wanting to deal with me because it's modified.if you got it appraised would they take that into consideration?maybe adjust your premium to show the extra risk?i mean let's face it ,people have been doing stuff like that forever.
 

tbcmorris

SM Expert Thread Derailer
Mar 14, 2007
1,820
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PRUVEN PERFORMANCE MILFORD CT
deabionni;1216178 said:
Whenever a car is considered a complete loss, the insurance company can turn around and sell what's left of the car to try to recoup their losses. In most cases, they'll give the owner of the car first dibs to purchase the car back from them. (Usually you can get the car back for just a fraction of what your claim check is, and they'll just deduct the price of the car from your claim check).

ive gotten many cars this way. my friends will wreck there car and ill offer to buy it for the insurance buy back....a fraction of the cost is right.
 

ZoomZoomZoom

On the road again..
Dec 9, 2007
443
0
0
KY
whowouldfigga;1216259 said:
Your right about the price difference. With allstate the price difference was just over $100 every 6 months. But now lets consider why the collision is so low. The insurance companies are nice guys aren't they? They figure the total payout is only $1.5k or less minus your deductible so if you get into an accident the expensive body shop repairs don't factor in. If you try and get your car fixed they total it. If your so poor that you can only drive an old car with no value than they figure on you driving around with a big dent or with your hood tied down. If you loose your car, you loose your transportation, you loose your job. You can't buy a car for $1.5k so you keep your dented car and drive it to work. No payout again, they win. Remember your poor and you can't afford a lawyer or representation. So you take what they give you with a smile on your face. Don't forget they have the final say on the payout.
:kickinthenuts:
On the flip side your liability coverage is usually more when you compare it to a new car. Hello... they gotcha again. You've got to remember that these insurance companies have a team Harvard MBA statistical analyst running numbers 24/7. Its hard to beat them. Bottom line they low ball you on the collision and quickly recoup their payout ,if ever, for a totaled car in a few years.

I would guess that your stated value insurance would cost you considerably more. If the quote doesn't change, than something sounds fishy. Make sure you double check your policy. Remember you've got to have all the bases covered with the insurance company. Its you against them baby. :)

If I wreck the car (and no harm or minimal harm to others), then I will decide if I turn it into the insurance company. Alot of other factors come into play within that situation. I've only been at fault for one wreck in my life, and I totaled that car (hey if you're going to go, go all out!). Its far more likely that someone will hit me. I want their insurance company to pay up, no excuses! I will get the appraisal, and talk to Grange about the agreed value. Insuring the sup is cheap (for me, sorry guys!). If they try to double it, then I am going to take my appraisal and shop around. If its only $200 more a year, then I will consider it. I shop for new car insurance every 2-4 years, and I always save by doing so. The Grange policy is new, so I am curious to see what they offer. And I may decide to leave the policy alone.
 

deabionni

The Lurker
Sep 16, 2007
431
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0
Kalkaska, MI
whowouldfigga;1216259 said:
Your right about the price difference. With allstate the price difference was just over $100 every 6 months. But now lets consider why the collision is so low. They figure the total payout is only $1.5k or less minus your deductible so if you get into an accident the expensive body shop repairs don't factor in.

Absolutely correct.

The insurance company needs only one piece of information to properly rate your vehicle for your policy, and that's your car's VIN number. That VIN number tells the company everything they need to know about your car, as that was the number issued to it by the factory.

Now why is this important? Because that's exactly how the insurance company is insuring your vehicle with full coverage: ~ exactly the way that it originally came from the factory. And as you can guess, a 20+ year old car in factory condition (remember, that's how they're insuring it) doesn't hold much value in the eyes of an insurance company.

What about all the "upgrades" you've made? Meaningless, unless you purchase a "stated value" or "agreed value" policy; in which case, both you and your insurance company are agreeing to what your vehicle is actually worth. (Not all companies offer agreed value policies, and all have different requirements; so it's worth calling around for the best deal).

whowouldfigga;1216259 said:
I would guess that your stated value insurance would cost you considerably more.

Maybe not considerably more, but defiantly more than just a regular "market value" policy. After all, you're expecting the insurance company to pay you more than what they normally would for your car; so expect to pay more than you normally would to insure your car. Most companies charge a set amount of $x for every $1,000 worth of coverage you wish to buy.

tsuper92;1216283 said:
it was a joke.

I figured that. ;)

tsuper92;1216283 said:
i don't see what difference it should make what's done to the car....

...i would understand an insurance company not wanting to deal with me because it's modified....

Remember what I said earlier about your VIN number telling the insurance company everything about your car to properly rate it? Well, when you alter the vehicle (enhance performance, raise or lower the body or suspension, etc.); you're changing the category of "risk" your vehicle falls under.

Why is this so important? Because once again, they're using your VIN number to insure your car exactly the way it was when it left the factory. By basing their rates from the factory data, they know how the factory vehicle performs, the data obtained during the crash tests, etc. By using that data, they can determine the exact risk category that any factory vehicle falls in; as they will already know that when a collision happens, they can estimate how much damage a car can: absorb, do to others who are hit, and pass onto the passengers inside.

When you alter the performance, handling, or safety equipment of your car from factory; you're also altering the risk category your car falls under, and how it could perform in an accident. Because of this, a lot of companies won't touch a modified vehicle; and will simply void out a policy of any vehicle that's been modified, as they can no longer predict how that vehicle will perform during a collision.

Other companies have no problem with modified vehicles, and only need to be told of the modifications to cover them. My current company is like that, and didn't raise my price at all when I upgraded my GE to the GTE.

tsuper92;1216283 said:
...i mean let's face it ,people have been doing stuff like that forever.

People have also been complaining about not getting what they feel they should have from their insurance company, after they've been in an accident for forever as well.

Too many people treat purchasing insurance like Russian Roulette. They buy the policy, perform mods (or get an already modded vehicle), never tell the insurance company about those mods; then hope for the best whenever there's a loss to the vehicle, and bitch an moan when the company won't cover any mods that they didn't know about.

Insurance is very simple. It's there to restore you to the point you were at before a loss; and the only way an insurance company can do that, is if they know how much you stand to lose BEFORE a loss happens! Basically, you're purchasing insurance to protect you against losses, so I don't understand why anyone would "hope and pray" when a loss happens; instead of taking with their agent, and making absolutely sure that they're protected and know what will happen before a loss happens.

It's your money that you're spending on insurance every month, so make sure that you're spending that money wisely and that you'll be adequately covered should something happen to your vehicle.

ZoomZoomZoom's on the right track. She's getting her car appraised so that there's no question or confusion as to the actual value of her vehicle. If she get's an "agreed value" policy from a company by using that appraisal, then her insurance company is already agreeing to pay that amount BEFORE a loss happens. At that point, she's completely covered for the total value of her vehicle.
 
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Who

Supramania Contributor
deabionni;1216524 said:
Absolutely correct.


It's your money that you're spending on insurance every month, so make sure that you're spending that money wisely and that you'll be adequately covered should something happen to your vehicle.

ZoomZoomZoom's on the right track. She's getting her car appraised so that there's no question or confusion as to the actual value of her vehicle. If she get's an "agreed value" policy from a company by using that appraisal, then her insurance company is already agreeing to pay that amount BEFORE a loss happens. At that point, she's completely covered for the total value of her vehicle.

100% correct.

IJ.;1216560 said:
Zoom3 is a "she" ;)


No questioning that. I seem to recall a certain picture of someone holding a " I heart IJ" sign in front of a white supra. :drool: