Need all the help I can get: Insurance

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Alex_V

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Apr 10, 2016
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Campbellsville, KY
Friday night my '82 Mercedes 300CD was involved in a wreck with 3 other cars when someone departed their lane, hit the front/side of a 3/4 ton Silverado ahead of me, careened into the side of my car, and then slid sideways square into the front of a Grand Prix before coming to a stop. I had just put full coverage on the car through State Farm when I took out a loan on it about 3 weeks ago - thank goodness. I don't think there's any way the car isn't totaled, but I'm expecting that and will buy it back. I have friends that received initial lowball offers on similar claims but did quite well in the end, and am going to be prepared with a list of recent substantial repairs to the car, good pre-crash pictures, and completed sale ads of similar models.

Anybody have any more wisdom to offer? This is my first car insurance claim, ever. I intend to push back if necessary, just hope I don't have to do it too hard to come out alright.

(One pic each of the other cars: the truck ahead of me and the Pontiac behind me.)

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Originally Posted by zrxkawboy
Sorry to hear that! Glad you weren't injured.


Thanks. My wife and 14 month old son were with me - he was strapped in behind me where the body caved in at least 10". Not a scratch on any of us.
 
That damage looks severe enough to be a total loss on most cars. Unless your 1982 is highly collectible and worth $15K-$20K, that looks pretty bad to me. And finding quality parts for those must not be easy.
 
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Originally Posted by Linctex
They'll offer you $800 for it


Which I will not accept.

69GTX, I'm sure it's totaled but I knew that as soon as I got out of the car. I have sources for parts (like, a whole good body), I'm just concerned with collecting enough to pay off the loan on the car.
 
The insurance company will definitely offer a beyond ridiculous amount. If I was in your position I'd be checking classifieds in Hemmings and The Star for comparable cars. Ditto for Bring a Trailer. If the difference between what you are offered and the actual cash value is large enough you might want to higher a professional appraiser as well.
 
Originally Posted by MCompact
The insurance company will definitely offer a beyond ridiculous amount. If I was in your position I'd be checking classifieds in Hemmings and The Star for comparable cars. Ditto for Bring a Trailer. If the difference between what you are offered and the actual cash value is large enough you might want to higher a professional appraiser as well.


Roger that. I've already saved half a dozen *sold* listings from Bring a Trailer and Ebay, as well as value estimates from NADA and Hagerty. Think that's proof enough?
 
Originally Posted by Alex_V
Originally Posted by MCompact
The insurance company will definitely offer a beyond ridiculous amount. If I was in your position I'd be checking classifieds in Hemmings and The Star for comparable cars. Ditto for Bring a Trailer. If the difference between what you are offered and the actual cash value is large enough you might want to higher a professional appraiser as well.


Roger that. I've already saved half a dozen *sold* listings from Bring a Trailer and Ebay, as well as value estimates from NADA and Hagerty. Think that's proof enough?


No, because they're only going to give you what's stated in your policy in the event of a total loss.

Did you have classic car insurance with an actual cash value? Or did you just go through GEICO with some generic policy?
 
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Originally Posted by oilpsi2high
They'll probably use NADA to determine the value. Check policy docs to be sure.

10-4.

Just for reference, here's what the car looked like before - 50 gallons of used oil in the trunk is what's making it squat a little.

57FB7B37-DAA2-4FBF-878E-8EAF33F11BC1.jpeg
 
Usually they just give you nada retail. Check nadaguides.com. Each insurance company may be different but if you have receipts for work done in the last year, you might be able to get a little extra but sometimes that's just limited to the engine or tires.
 
Originally Posted by AZjeff
Glad you and family are OK, and just out of curiosity what do you think it's worth?

You took a loan out against the value, like at a title loan place?


No, through a local bank for $8450 which is NADA "average retail", to put toward buying a plot of land to eventually build a house on. High retail on the same scale is $12K.

Realistically, if I'd have put it on CL I'd have expected ~$3500 because it had rust *starting* in a couple spots underneath, needed a B2 piston in the trans. (first was gimpy), and the driver's seat and commonly-deteriorated parts of the interior (wood trim, vinyl dash) weren't above average. However, in the last year it's had new brakes, battery, tires, injectors, belts, transmission adjustment and fluid/fliter change, alignment, A/C service... not a short list nor a cheap one at any import shop worth its salt, or a dealership. And, the factor least important to its value on paper but the biggest shame about it, is that the serial number is 000001 - the first turbocharged 300 coupe diesel.
 
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That is horrible man. It was so nice and clean. I am sorry to see it.

Took out a GTP too. I have soft spot for those.


I take it no one was hurt?
 
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is Kentucky a "no fault" state? you might be able to sue the other driver for any value above what your insurance covers.
I have a pre-determined value for my Cougar with Haggerty. same with the Sebring convertible.
 
Originally Posted by tomcat27
is Kentucky a "no fault" state? you might be able to sue the other driver for any value above what your insurance covers.
I have a pre-determined value for my Cougar with Haggerty. same with the Sebring convertible.


I believe it is a no-fault state. If my wife continues having hip pain from it, we may have other reasons to talk lawyer. I truly believe in forgiveness and understand some things are beyond control, but pulling out in front of 3 cars at 60 MPH ain't one of them.
 
Originally Posted by ls1mike
That is horrible man. It was so nice and clean. I am sorry to see it.

Took out a GTP too. I have soft spot for those.


I take it no one was hurt?


The GTP driver was helicoptered and the one that started it went by ambulance, but I didn't catch wind of any imminent fatal injuries.
 
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