So here is whats up...
After some delays with insurence they are now trying to total the car for 30k, this is crazy since the car is worth well over 80k. Sooo I have a few choices with this...

1) Get more comparables from them and get more for the total. Keep the car and use the total money to fix it.

2) Take their *** to court, show the value and get what the cars worth and lose the car. That woudl take a while...

3) Use the total money to buy another car (NSX or Skyline) and sell the wrecked Z to pay for the rest of the new car or mods for the new project.




What do you guys think?

 

You're going to have an uphill battle with the insurance to get them to cover the expensive modifications unless you also upped your insurance to account for them. I'd try to battle for the best amount possible and buy it back for cheap. Then part out the rest.

 

2, and get a 2011 GTR when ur done. Thats if u win.

 

1 or 3 , court sucks and takes forever. Plus insurance companies have money to throw away for legal fees.

 

1 or 3 and get an r34

 

I don't know how your insurance works or if you paid xx dollars a month to cover xx dollars in covered, acceptable and provable mods, but I'mma have to say 1 or 3 with what's given.

that really sucks, dude. the fact that they are offering you 30k is a partial sign that they acknowledge the mods value, but are oblivious to the true worth and cost associated with them

 

You're going to have to provide them with every single receipt and picture to the insurance company. Is 30k their 1st offer? If so, it's just a lowball to see if they can get away with suckering you

 

I would assume you've hired counsel and told your insurer to **** off.

I know a few people who could help resolve this quickly.

Does your policy allow for replacement value of your mods?

 

Im going to talk to my lawyer soon. When they were going to fix the car they said they would cover all aftermarket parts. They said they have to pay the value of the car if it was sold not the parts total if they total the car out. Who do you know?



wasuber
Im not worried about that, if I go to court Im getting what the cars worth.


Entaille
Yeah that amount was silly. I told them that if they really think thats comparable then show me the cars for 30k with the mods I have, I will buy 2 today.


Jeff92se
Oh I have the receipts, one of the reasons Im pissed is that I took a bunch of time to get them together for them and they came back with this crap after nearly 2months of the run around.

 

did the insurance company know about all the mods and accepted them and said they would cover it if something happens? do you have that in writing? if not, then you're sh*t out of luck. not trying to **** you off or ruin your day or anything, just telling you how it is. if anyone tells you different, they're full of crap...

 

If you don't get your car fixed back to its original glory I will be sad

 

I can hook you up with counsel. Many friends in insurance lit. If you've got
an attorney whom is local and trusted (w/ results) stick to them.

You are losing room though. Have you executed any documents from the
insurance company re: the loss since the accident? Do you have a full and
complete copy of the policy and addends? - Your atty will prob need this
stuff to get rolling.

glgl. I can't stand to hear this stuff.

 

#3 and get the new sti.

sorry to hear about your insurance company

 

Buy it back and part that 8itch out......you never get your money back from the insurance....my last car got totalled, I was lucky enough to ****** out all the gauges (W/B, scangauge, boost gauge, etc) as well as the hardpipe, bov, wastegate, and injectors!! It happened on base (mcchord afb) and it took the tow truck forever to get on, and after they picked it up they lemme go on the yard and get my personal items, which allowed to ****** out the short shifter and the booger bushings!!!!

long story short, insurance sucks for gearheads, I still lost money by not buying it back, but I was still able to sell off what I was able to salvage for close to 1500

 

Make that a wrx. STI has a bigger turbo, but less compression, so you could just buy a bigger turbo for the wrx and up the boost and get more powa. I think thats what I read anyways.

 

If you have a turbo I'll take it, lol!

 

about the only way you will get your monies worth is a stated value policy. i have been through the insurance game before. if you battle, you may get a little more, but that is after you have spent a bunch to do battle and you give up, and ultimately will loose anyways due to you not notifying them with every mod so they could adjust premium accordingly.
$30k is not bad considering. i sold mine for $30k, and was a high caliber Z. no matter what you THINK it is worth, the market determines value. i sold mine knowing it would be the most i would ever see out of a car that would take 100k to duplicate. sucks. would i do it again, yup!

i heard a saying and is my new motto "i spent alot of money on girls, cars, and alcohol, the rest i just pissed away"

 

Waiting to hear from my lawyer....

 

God thats sucks man. Keep us updated.

 

Not stirring the pot but did you have this in writing? And was the value of the car is determined at the point when you first sought insurance and did you pay an extra premium for the aftermarket parts?

Did they know about the aftermarket parts at the time of purchasing the policy?

I doubt it because if you did, they would have sent you to an assessor to approve the value your modifications. They did so on my $10K Suby that was assessed for $17k. I paid an extra $12 every six months to cover the NAV, turbo kit, standalone ECU and wheels which amounted to the extra $7k.

If you purchased the aftermarket parts after you got the policy and didn't update your insurance company, they might cover some of it but let's be honest, no flat-rate premium is going to cover the car for over twice of what it's worth. That's financial genocide and an opening themselves up to far more liability than what they're charging...



+1, you can argue as much as you'd like but they'll end up tying you up for months if not years, and there's no clear winner here; but they do have far more lasting power...

My 2 cents...