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

[keske968]

I also have USAA but have never had to file a claim with them so i am very interested in how this whole thing turns out becasue I have my 6 conversion insured with them. Keep us posted man and good luck. Maybe after you settel I can call them up and say "Hey this is what mine sould be insured for." True mine isnt as nice as yours was but better to try and use the leverage that I do have.


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[Dr Evil]

So the next person in line called me today...or it was the other chick I talked to and she had an attitude adjustment. She started at me about the 6cyl engine not being stock nor the front and rear bumpers. I told her that regardless of that the value offered is far from market. She said that their adjuster was working on valuating the car and that is how they found out the engine and bumpers were not stock. I told her that regardless of those facts, the price of a nice stock 73 /4 was much higher according to many respected sources in print and in the flesh. I offered to give them my sources to help them valuate my car more appropriately and she finally gave in and gave me a fax number for my stuff. I dont know how that is gonna help with communicating with the folks in the know who need a phone, but one step at a time.

[biosurfer1]

If nothing else, you have one more piece of documentation that you at least tried to help out and made them aware of what fair value is...keep those fax transmission sheets!

[kojo2001]

So the next person in line called me today...or it was the other chick I talked to and she had an attitude adjustment. She started at me about the 6cyl engine not being stock nor the front and rear bumpers. I told her that regardless of that the value offered is far from market. She said that their adjuster was working on valuating the car and that is how they found out the engine and bumpers were not stock. I told her that regardless of those facts, the price of a nice stock 73 /4 was much higher according to many respected sources in print and in the flesh. I offered to give them my sources to help them valuate my car more appropriately and she finally gave in and gave me a fax number for my stuff. I dont know how that is gonna help with communicating with the folks in the know who need a phone, but one step at a time.

Sucks Good Luck!!!

I know this doesn't help now but I have my Insurance thru Hagerty Ins and has a set agreed value at 16k 0ded( 73 4cyl 1.8) for less than $200 a year. Worth the call.

[sww914]

Just keep plugging away and you'll get what you deserve. It's the easy people that get the low payouts, don't be an easy one. There's no need to be a dick, just persistent.

[JRust]

Didn't you have an offer of 25k a while back Evil? USAA probably would laugh at that but if given with prices of cars similar? It may make it more realistic to them (IMG:style_emoticons/default/confused24.gif)

Might be worth talking to the guy who offered you the 25k & see if you could get the offer in writing. Seems like he was some kind of dealer (IMG:style_emoticons/default/idea.gif)

Good luck either way!

[rick 918-S]

That's the risk of not purchasing collector/classic car coverage with an agreed value. But your absolutely correct about the fair market value issue. It sounds like the guy maybe dinged you for not having the "original" engine or bumpers. (IMG:style_emoticons/default/WTF.gif)

[Dr Evil]

I figure that I am getting to keep the engine and /6 goodies so fair market value fo a /4 would be fine. I have a lead on some donor tubs and will be spending most of the money with Scotty B on paint and minor body work. Keeping it all in the family (IMG:style_emoticons/default/smile.gif)

[Root_Werks]

This really sucks for you Evil one and I am going to use it as a leason for myself to possibly change my policy to reflect an agreed value. I go through Progressive and have no idea what they value my car at? Sounds like your making a little progress with your settlement. Good on you for that. Keep at em'!

(IMG:style_emoticons/default/poke.gif)

[McMark]

It sounds like the guy maybe dinged you for not having the "original" engine or bumpers.

Which makes sense if you're looking at the car as a 'bastard'. The reality that they're not aware of is that the non-original motor is actually a standard 'upgrade' for these cars. Because they don't know better, putting a six in a 914 is the same us putting a Geo Metro motor in there. Might be worth getting together a stack of cars for sale that have conversion motors.

[r_towle]

I have a tub if you need. Barter for some tranny work and you can have it.

Rich (Massachusetts....not to far)

[Dr Evil]

It sounds like the guy maybe dinged you for not having the "original" engine or bumpers.

Which makes sense if you're looking at the car as a 'bastard'. The reality that they're not aware of is that the non-original motor is actually a standard 'upgrade' for these cars. Because they don't know better, putting a six in a 914 is the same us putting a Geo Metro motor in there. Might be worth getting together a stack of cars for sale that have conversion motors.

At first I figured this, too, but they consider that I am paying insurance on a stock 914 only. This is what my rates are based on so I can see their point. I never thought about it and it is good that the /6 parts are still good so I can recover from this. This is why I am comfortable with a /4 sized settlement so long as they do not depreciate my car for having the /6 in it (that would be retarded IMHO).


Rich, what year and shape is your tub in? I am looking for a 73-74 with no major rust (IMG:style_emoticons/default/smile.gif)

I am always open to barter for tranny work. (IMG:style_emoticons/default/thumb3d.gif)

[firstknight13]

(IMG:style_emoticons/default/biggrin.gif) dr. if it will fit on my truck i will bring it down for gas.........ray (IMG:style_emoticons/default/biggrin.gif)

[TravisNeff]

Maybe you should change your angle and state the car is very similar to an original 6 and ask to valuate in that direction. They might change their tune a little.

Hang in there at the end of the month they are very anxious to settle claims as that unallocated money for a loss is not good for the books

[r_towle]

It sounds like the guy maybe dinged you for not having the "original" engine or bumpers.

Which makes sense if you're looking at the car as a 'bastard'. The reality that they're not aware of is that the non-original motor is actually a standard 'upgrade' for these cars. Because they don't know better, putting a six in a 914 is the same us putting a Geo Metro motor in there. Might be worth getting together a stack of cars for sale that have conversion motors.

At first I figured this, too, but they consider that I am paying insurance on a stock 914 only. This is what my rates are based on so I can see their point. I never thought about it and it is good that the /6 parts are still good so I can recover from this. This is why I am comfortable with a /4 sized settlement so long as they do not depreciate my car for having the /6 in it (that would be retarded IMHO).


Rich, what year and shape is your tub in? I am looking for a 73-74 with no major rust (IMG:style_emoticons/default/smile.gif)

I am always open to barter for tranny work. (IMG:style_emoticons/default/thumb3d.gif)

Its a 73.
It has some rust, nothing major...flesh wounds.
Look up Cevan it was his car...its green (light metallic green) he posted pics long ago.

In my mind its a future driver, just have a big list and two 356's going now.
How confident are you with swing axle trannies???


Rich

[Joe Bob]

I'm curious....DOES the insurance policy specify a 914 4 cylinder or just a 914?

If not then the previous poster may have a point. Beyond the VIN, there's really not much diff between a conversion and a factory 914/6....

I looked at my old policy on The Rocket and it was insured with my 914/4 VIN and listed as having a six cylinder motor.

It was wrecked in a hit and run with damage to the front left fender and flare. The adjuster took the same low ball POS VW attitude but backed off when I said...hey stoopid, it's a six.....it's been 13 years, so I forgot all about it. (IMG:style_emoticons/default/blink.gif)

[Wanna9146]

I'm curious....DOES the insurance policy specify a 914 4 cylinder or just a 914?

There is a check-box on every insurance application that asks: "Has this vehicle been modified from stock. If "yes", please list modifications below". If no modifications are listed on the application, you are covered for the stock configuration only.

Three words to remember for those shopping for insurance (especially if you have an exotic or modified vehicle): "Agreed Value Policy". If you have a "Stated Value Policy", you will go through the scenario highlighted in this thread every time. Agreed Value? Collect your check and go spend it.

[ericread]

This really sucks for you Evil one and I am going to use it as a leason for myself to possibly change my policy to reflect an agreed value. I go through Progressive and have no idea what they value my car at? Sounds like your making a little progress with your settlement. Good on you for that. Keep at em'!

(IMG:style_emoticons/default/poke.gif)

I have a Progressive policy and they set the max value at $5000. Better check your policy. I'll be changing soon.

[ericread]

Maybe you should change your angle and state the car is very similar to an original 6 and ask to valiuate in that direction. They might change their tune a little.

Hang in there at the end of the month they are very anxious to settle claims as that unallocated money for a loss is not good for the books

As I work in Regulatory Audit and Compliance for a really big Insurance company, the real issue is unallocated monies at the end of a quarter, and that usually applies only on fully adjuducated cases. The more pressing issue is the time of adjudication for claims per your state's Department of Insurance requirements. The Ins. company can be significantly fined if they do not meet agreed-upon adjudication timelines (usually 60 to 90 days).

Dr. Evil; The dance has begun. Continue to collect your evidence, and press them for answers and written explanations. Just like a first dance with a young lady, go too fast and they'll pull back their offer; go too slow and they'll think you're dull.

Always have more documentation than the Ins. company expects. The adjusters are just folks that are used to working off of set charts. Your car doesn't fit on the chart. You need to convince them that your chart (evidence) is a better representation of the facts than their chart, and that a third party would easily see it your way. The adjuster is being graded by their abaility to keep claims to a minimum. Getting overturned by an arbitor for a large sum is not to their advantage, and if you convince them of this risk, they are much more likely to offer you a reasonable settlement.

Good luck, and please keep us updated.

[flat4]

It is interesting to see how insurance works there. Here is Oz I would expect to have zero coverage if they found an undeclared modification on a car. Their argument will be that they insured a slow car and you now have a fast car. The risk is clearly higher as you span off the road...

I insure all my cars at agreed value and list every modification and insist that they write them on the policy document. It appears to cost me $50 a year extra over bargain basement coverage but is worth it.

When taking cover out on a car they offered me a silly (high) agreed value, so I said OK and took it. I later had a write off claim and they paid in full. I mentioned to them that I expected them to haggle and they told me that they always aimed high with agreed value as a marketing tool to get people to sign up & be happy in the event of a claim. They factor the risk into the policy cost.

Cheers, Steve