insurance settlement fair???

[klaasjoe]

Hey guys recently my supra was totaled by a drunk while it was in a shop. I have over 15000 in reciepts for it. The insurance wants to pay me 5000 for it with me keeping the car. All the damage is on the rear of the car but it is totaled. Should I be happy with the 5000 or fight for maybe a little more. BTW all the parts are salvageable

 

[bluedragon17]

Fight. Print off all kinds of things about these cars and try to find a couple that are close to the same modifications you have on yours and find the price and present them to the insurance company. Basically find prices for supras with the same mods as you or close to them and show the company that this is what there really worth not what they offered you. Insurance companies try to not pay out anymore than they have too. There cheap bastards. Take your money but when its time for them to pay they become scarce as hell

 

[Mr.PFloyd]

well, what did you invest the 15000 into?

 

[MK3Brent]

FYI most people can't sell their NON wrecked MKIII for 5k.

 

[upgradedsupra]

:ttiwwp:

 

[bountykilla0118]

I am with MK3Brent for the most part but I would try to get more out of them..... But if not just take the 5000 and buy another MKIII and swap the parts

 

[Wiisass]

I would be careful about trying to prove that it's worth more if you're going to try and buy it back. Because the buy it back price might change if they know you have $x invested in the car and those parts are still good. So you could get a higher settlement and a higher buy it back price and in the end it could work out the same.

 

[HommerSimpson]

Hey guys recently my supra was totaled by a drunk while it was in a shop. I have over 15000 in reciepts for it. The insurance wants to pay me 5000 for it with me keeping the car. All the damage is on the rear of the car but it is totaled. Should I be happy with the 5000 or fight for maybe a little more. BTW all the parts are salvageable

if you can prove you have 15,000 in it atleast try to get them to give you half 7,500 and keep car... for 7,500 you can buy a 50k mile supra in mint condition..... but if all you can get is 5k then you can still get one in mint condition with say 99k miles on her so eather way you will come out ahead.. that is if you can swap the parts your self.....but after you do.. you need to get with a insurance company that will agree on a set value of your car... if its worth 15k then you need them to cover that... lota clasic car insurance companys will do that....

 

[klaasjoe]

That would be all the stuff like suspension,paint,body kit,motor rebuild,turbo&IC and interior. I saved all the reciepts and it shocked me when I added it up.

 

[blackturbona]

id say take it and swap the parts

 

[BudweiserJason8]

Insurance companies only payout the value of the car according to its blue book value and if its totaled they usually take it from you and let you come out to their holding lot to take any personal items in or on the car before they have it crushed, you should always try to get your mods insured especially if your going to invest thousands of dollars, your rate will go up, but in the end if something happens you wont get screwed

 

[tissimo]

details on the car? year mileage will help

5k seems ok though. I would try to get a stock mkiii + what you spent on the paintjob back. If its under the 5k, take it and run. You will have all your parts from the other car.

 

[improved]

Insurance companies only payout the value of the car according to its blue book value and if its totaled they usually take it from you and let you come out to their holding lot to take any personal items in or on the car before they have it crushed, you should always try to get your mods insured especially if your going to invest thousands of dollars, your rate will go up, but in the end if something happens you wont get screwed

This is protocol if he would have been at fault. Since he isn't at fault, liability is the faulted's legal obligation. The liable party's insurance company, reguardless of current coverage from the victims personal automobile insurance, must cover his car's "MARKET VALUE", which includes any aftermarket parts and or specialty items. Which in this case market refers to specialty market pricing, which isn't available through KBB. You should also find listings of cars in your area: similar condition and similar modifications for proof.

In short he only has to prove the value of his car.

I did, when my bumper was smashed by a retard. They initially told me that it was going to be totaled. It wasn't, I small talked with the appraiser(always be present when they appraise your car,) showed receipts and proved my cars value. They settled and gave me nearly 6700$, clean title, and my car. They legally aren't responsible for rental car fee's, but if you complain enough they will pay.

Matt-

 

[osama1234]

It is the job of insurance companies to lowball you so that they make money, their first offer will inevitably be a lowball. So pull out your receipts and prove them wrong, they're in a position where they can't do much else besides come back with another offer if you can prove their evaluation of your car's worth is wrong.

 

[BudweiserJason8]

Very interesting, thanks for that info improved