Well, it's pretty much official now......

Pakrat · Oct 9, 2004

The claims adjuster reviewed my car yesterday and said "it'll take a week to run all the numbers, but almost gauranteed a total loss". I guess now all that is left is negotiating the pay off. I have looked online, and from the handful of cars out there right now, it looks like it'll cost around $20,000 for a replacement car of equal condition. Regardless of wether somone could still fix it for that remains to be seen, but I will settle for no less, and then I'll have to determine how I proceed from there.

I'm not ashamed to admit that for the first time in over 10 years I actually shed a tear, and the last time was because my best friend died in my arms.

Pak.

bnickel · Oct 9, 2004

our cars are our friends in many ways especially to those of us who have had ours for a long time. if they total it and give you 20k you should be able to restore it back to better than new shape with that much, depending on how much they'll sell back to you for salvage for, if nothing else i would buy it back for parts and build a new one, that way at least you'll still have a majority of your car. i'm sorry pak if there is anything i can do to help you out just ask, i'm sure i can locate you another TEXAS vert if it comes down to it.

'68StangGT · Oct 9, 2004

sorry to hear it

I have been following the story since you first posted it

I always thought that was one beauty you had there

SO

Do you think you will be looking for another 69 Vert ?

some other classic Stang ?

or is it too early to tell ?

charlies · Oct 9, 2004

let us know if they give you the 20k

'68StangGT · Oct 9, 2004

its not a vert, but

http://adcache.collectorcartraderonline.com/10/8/6/75985386.htm

charlies · Oct 9, 2004

i'm sure his was worth that much.

when i think of the years i spent writing letters, eventually up to the insurance commisioner of maryland. i got a little something more than the original offer, not what it was worth though.

mdjay · Oct 9, 2004

Pak, you better have an appraisal in hand if you're thinking anywhere close to a number like that. They'll hit you around 7-10k! I would consider an attorney for compensation for your injuries to make up any differences.

Ronstang · Oct 9, 2004

I'm really sorry about your car Pak and I hope it all turns out OK in the end.

I can't stress this enough....before you drive a classic anywhere except home from where you bought it you need to get a professional appraisal. You should have it reappraised anytime there is a significant increase in the market value of similar cars. If you don't have an appraisal someone else's insurance is not going to give you what you think it is worth. You usually must have a professional documented appraisal if you hope to come out of an accident monetarily satisfied.

chepsk8 · Oct 9, 2004

Pak,

Here's an idea.

If it is impossible to repair, time to build that 428 69 Vert you've wanted more than anything else. Let our Sw Desert boys find you a solid base, and you go from there.

(and this time, install the thermostat correctl!)

Platonic Solid · Oct 9, 2004

Pakrat said:
The claims adjuster reviewed my car yesterday and said "it'll take a week to run all the numbers, but almost gauranteed a total loss". I guess now all that is left is negotiating the pay off. I have looked online, and from the handful of cars out there right now, it looks like it'll cost around $20,000 for a replacement car of equal condition. Regardless of wether somone could still fix it for that remains to be seen, but I will settle for no less, and then I'll have to determine how I proceed from there.

I'm not ashamed to admit that for the first time in over 10 years I actually shed a tear, and the last time was because my best friend died in my arms.

Pak.

Was your car insured as a classic? When I insured mine, I told them how much I wanted it to be covered for in case of a total loss, and my rate is adjusted accordingly, thus there's nothing to argue about.

Ronstang · Oct 9, 2004

Platonic Solid said:
Was your car insured as a classic? When I insured mine, I told them how much I wanted it to be covered for in case of a total loss, and my rate is adjusted accordingly, thus there's nothing to argue about.

That is fine if the accident was his fault and his insurance was the one required to pony up the cash but this does not apply when you are hit be someone else unless somehow your insurace goes to bat for you using your insured value as a measuring stick....but I think that is a stretch at best.

PoliceInterceptor · Oct 9, 2004

FWIW:

NADA says its worth ~15,000.00 "mid book" and ~24000.00 "high book"

Don't have a CPI handy but I might have one at work tomorrow.

I predict they offer something around mid book to start. HIGH NADA Classic book is a basically showroom car and its going to be real hard to get that unless it is actually showroom condition.

If it is super nice negotiating somthing aproching you range shouldn't be that big of deal.

If you can't negotiate a favorable settlement, and assuming that you have full coverage and there is nothing in your state law that prohibits it, your next step would be to try your company and let them pay you and subrogate the at fault company.

Platonic Solid · Oct 10, 2004

Ronstang said:
That is fine if the accident was his fault and his insurance was the one required to pony up the cash but this does not apply when you are hit be someone else unless somehow your insurace goes to bat for you using your insured value as a measuring stick....but I think that is a stretch at best.

Hmph, good point. I'll have to check my policy now. I know there's a section for "uninsured motor vehicle" coverage. I wonder if there's a section for "under-insured motor vehicle".

pabear89 · Oct 10, 2004

Ronstang said:
That is fine if the accident was his fault and his insurance was the one required to pony up the cash but this does not apply when you are hit be someone else unless somehow your insurace goes to bat for you using your insured value as a measuring stick....but I think that is a stretch at best.

If It has a Agreed Value policy, Then the Battle is almost over.
When the Ins co from the party that hit you says its a total,
They will have to payout the Agreed value one way or the other.
Eather directly to you or to your Ins co, Because you can go thru your policy to get the agreed amount and they will recover the expenses from them.

PB

66 BLAKE 96 · Oct 10, 2004

Dammit. Sorry to hear that Pak.

Keep us informed about the decisions ahead. I hope it works out well for you.

FrdMustangCpe · Oct 10, 2004

man that sucks. i sold my 69 and i was bummed, but having it die would be way worse. good luck

PoliceInterceptor · Oct 10, 2004

CPI is not as favorable. 9700 or so mid book and 18700 or so high book.

Truly the best and least stressful way to handle this if you have an agreed value is to let hagerty subrogate. They should be able to code the payment so it isn't a chargeable loss. Although they will deduct your deductible from, the settlement, they will claim it to the at fault party and most companies usually refund the deductible to the policy holder before keeping any if they don't recover in one large payment (such as they allow an uninsured party to have a payment plan.)

Pakrat · Oct 11, 2004

I really do not want to do it that way. I have no deductable, but my agreed value policy is for my dollar investment value only, not the cars worth or full replacement value. I wouldn't normally use my insurance unless I was at fault, and there was no way in my mind that an accident caused by me would ever be this bad.

Naturally I won't take the first offer regardless of what it is, but if they succesfully screw me on it than I'll make up the difference with the injury case and pain and suffering, they will pay from one end or the other, both if I am really lucky. Considering the circumstances of the accident, they don't have much of a leg to stand on.

Basically this is more about personal vengeance in my mind now, so even if sueing them nets me less money in the end, I am determined to be the biggest pain in their ass ever, period. I am not letting car rot in some field somewhere, it will get fixed somehow!!!!!!!!

66 BLAKE 96 · Oct 11, 2004

Pakrat said:
I am determined to be the biggest pain in their ass ever, period. I am not letting car rot in some field somewhere, it will get fixed somehow!!!!!!!!

Atta boy!

chepsk8 · Oct 11, 2004

Lord Knows you are one PIA!!!!

Go get 'em!

Well, it's pretty much official now......

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