Wrecked 914 part 2: The insurance offer, Hold your nose Options

[VaccaRabite]

Mike, when I saw that you bumped this thread my first thought was "Stop posting unless you have some good news, dammit!"

Well, I'd say this was good news. Take the money, buy back the car, and be happy (as one can post accident).

I'm glad this chapter is closing and an new one can begin.

Zach

[So.Cal.914]

(IMG:style_emoticons/default/smilie_pokal.gif) One for the Good Guys...

[type11969]

Sounds fair, congrats!

[Joe Bob]

Well, it's a LOT better....is it acceptable to you?

Seems like it might be as you're asking for validation on an open forum. I wouldn't put it past them to be monitoring this thread....if I had as much in it as I think you do, I'd make a counter offer.

A legitimate offer as to what you feel it's value should be. Be reasonable as you DID have the extras under the radar and not specifically expressed in your coverage.

Hopefully on your next ride you have a more comprehensive protection package.

[LvSteveH]

All considering that seems pretty fair. It looks like they may have actually done their homework as they increased the buyback to $2000. It always frustrates me when a fair resolution requires a lot of work and pressure. That means some other guy would have likely been screwed over in the same situation.

[zymurgist]

Well, I'd say this was good news. Take the money, buy back the car, and be happy (as one can post accident).

(IMG:style_emoticons/default/agree.gif)

Mike, if you don't find the offer insulting, I take it that you consider it to be fair. If so, take it and start stripping the carcass.

[Dr Evil]

The only thing that bothers me is that they multiplied the salvage x4 as well. A junked 914 stock would not be worth $2k salvage, a /6 might. And a my car with the /6 stuff is worth more than $16k. I will see if I can get back some of the salvage. I was just about to send them a valuation from my appraiser for $30K....I think that shook them to make an offer.

[plymouth37]

That offer sounds pretty good especially if you get your wrecked car back, that car has got to be full of parts ripe for the picking. Find a clean chassis and start transfering parts!

[Dr Evil]

Ya, the car has a good deal of $$ left in parts that is worth me keeping it.

[So.Cal.914]

Evil, aren't you being paid for your car and then being allowed to buy back a 2.7 and all sorts of goodies to boot? For 2K ? I think Mike made a good point about:

Be reasonable as you DID have the extras under the radar and not specifically expressed in your coverage.

Hopefully on your next ride you have a more comprehensive protection package.

All and all I am happy for you, considering you lost your baby, You get to rebuild

it and that insurance companies have no problem with screwing the public. My .02

[KELTY360]

Evil, aren't you being paid for your car and then being allowed to buy back a 2.7 and all sorts of goodies to boot? For 2K ? I think Mike made a good point about:

Be reasonable as you DID have the extras under the radar and not specifically expressed in your coverage.

Hopefully on your next ride you have a more comprehensive protection package.

All and all I am happy for you, considering you lost your baby, You get to rebuild

it and that insurance companies have no problem with screwing the public. My .02

There's a lesson here. Your coverage was for a cherry 914-4 for which you established a much greater value than what the insurance co. offered. They looked at your research and altered their their offer based on a more realistic value of a 914-4. In essence, they bought the car. Once they bought it, they 'discovered' all these add on goodies that weren't part of the deal so they're offering those goodies back to you at a value higher than -4 prices, but still well below the actual value of those parts.

My bet is that if you had worked to just establish the value of the car as a -4 you would still be getting the same offer but the salvage value wouldn't have quadrupled.

I think your idea of a classic thread dealing with insurance settlements is a great idea. Your experience, and those of others, helps set the bar for 914 values when calamities occur and owners are at the mercy of uneducated adjusters.

Sorry you lost that beautiful car after all the work you put into it. Now go build that badass bus!

[Dr Evil]

The shitty thing is, I didnt push the /6 stuff with them. Once they told me that those parts were not considered, I left it alone and pursued the /4 value only. I was hoping for only slightly more than what was offered, that $2K kinda sucked it.

[TravisNeff]

That sounds like a pretty good offer, the only heartburn is the salvage amount. If they cut the salvage by 1K or at least 500 that, to me would make it right.

[Dr Evil]

I just got off the phone with the insurance lady and she was much nicer now. Go figure. I asked her about the discrepancy in the /6 salvage price with the /4 settlement price and she said that they did value the car as a /6......they added $700 to the total for the engine (IMG:style_emoticons/default/dry.gif) and subtracted $300 for the missing door panels...which I told them were in the trunk and complemented the attention to detail that the inspector had (IMG:style_emoticons/default/dry.gif) I told them that I have a valuation from an appraiser for $30K, but that I was not interested in going after that amount. I countered with $16K and I keep the car. The lady said she would talk to her adjuster and have him call me to explain. I cant see them dragging this out over another $1500, and I think that I am being fair considering if they are now going to accept it as a /6 conversion I could be an ass and try to get more.

[r_towle]

I would take the money, get the salvage car and go buy a nice conv, already done...
Then strip you car and sell whatever you dont need.

Rich

[LvSteveH]

I would take the money, get the salvage car and go buy a nice conv, already done...
Then strip you car and sell whatever you dont need.

Rich

That's some pretty darn good advice

[Dr Evil]

I wont buy a converted car. Its not my thing. I have all the stuff to do a transfer to a good tub and I will be getting that tub done up by Scotty (paint and body work). It will likely cost the same, but I will know it was done right by me like its predecessor. It looks like this is gonna drag on until Mon, at least as I havent heard back from them.

[wilchek]

Sounds like you are going to get enough to build a new car. The paint and body alone will not be cheap. Sounds like things are turning around

[Gint]

Good show Mike. I think you're right on the money. You probably won't get $16k, but I'm thinking your approach is going to pay off. At least better than offered so far.

[Dr Evil]

This would not have been possible if it wasnt for the help that I got from ya'll (IMG:style_emoticons/default/smile.gif)