insurance

85McLaren · Post by **85McLaren** » Fri Nov 19, 2004 9:41 pm

The every popular thing happened to me two nights ago. My 85 was hit hard in the front corner. Woman admitted it was her fault and turned it into her insurance company (ALL STATE). Well as you know here we go....

"What is an ASC mclaren." Vin number says it is an 85 capri.

Yeah Yeah Yeah, I told the insurance lady. I know. So I am getting hank to fax the value and info on the car to insurance lady as all receipts which I have done on the car. Anything else????.... I know if they look at the car as just a mercury capri, they will TOTAL it......

Also, I remember that rather NADA or KBB "screwed" up on how they listed those cars, because a long time ago, I found the 85 under the FORD section and not the mercury section which obviously brings suspision to ALL STATE that I am lying about the car.... Any suggestions anyone has will be greatly appreciated....

Jason

Post by **negusm** » Fri Nov 19, 2004 10:05 pm

Ack! How hard was it hit? What's the damage estimate?

I dread having the same thing happen to me. I'm afraid I would have to just EAT the repair costs.

-Mike

cobrajeff · Post by **cobrajeff** » Fri Nov 19, 2004 10:48 pm

This is why it is SO IMPORTANT to have an Appraisal done on your car BEFORE anything happens to it. I have an Appraisal done by a certified appraiser, WITH pictures, for each one of my cars, and on file with my insurance company. I cannot stress how important this is. It should be updated every couple of years, especially with "collector cars". It costs around a hundred dollars (per vehicle) to have this done, but, when there's a problem, it can save you THOUSANDS of dollars, and lots of headaches.

Advice for everybody else: get your vehicle appraised NOW, take LOTS of pictures, and make sure you have "Agreed Value" insurance (you specify the amount of coverage, based upon the Appraisal) instead of "Actual Cash Value" (where they will say..."well, a 1985 car is now worth about 10% of it's original sticker price...." ). Make sure your insurance company has a current Appraisal and photos on file.

I have helped negotiate some settlements for people who DIDN'T have an Appraisal on file, but, believe me, it's an uphill battle.

regards,

Jeff

Euro#13 · Post by **Euro#13** » Fri Nov 19, 2004 10:58 pm

Anyone that has an ascMcLaren should look into getting collector car insurance through one of the specialty companies like Hagerty or Grundy's. They understand what our cars are and with proper documentation proving your cars condition, they will more than adequately have you covered. They work on an agreed value system so you know exactly how much you are covered for.

I think Sandy has mentioned that he uses one of these companies for his cars.

Brent

Euro#13 · Post by **Euro#13** » Fri Nov 19, 2004 11:00 pm

Very well put Jeff, you type faster that I can.

Brent

Sandy · Post by **Sandy** » Sat Nov 20, 2004 12:04 am

I have 4 cars with GRUNDY and Grundy is THE best! VERY reasonable rates, terrific coverage. Don't leave home w/out it!!

http://www.grundy.com

Horsham, Pa. They'll quoite on their suite. They ARE car people, to boot!

They place the insurance with CHUBB a huge 5 star ins. co here in the NY NJ PA area.

You can use my name, and they'll look up my policy and sell you the same,if you want.

My 3 McLarens are each covered for $ 18,000.00 total loss value. My Sixty Special is also at $18,000. My premium is $250.00 per car, per year. BEAT THAT !! (and) UNlimited Mileage !!

85McLaren · Post by **85McLaren** » Sat Nov 20, 2004 12:32 am

If her insurance company still totals my car, do I have chance of SUEING her personally for the rest of the cash to restore the car for what her insurance company won't pay. I have pictures, receipts, etc. of what my car looked like before the accident.... I have been told that if you feel you are being treated unfair by insurance companies, you can contact a HIGHER overseer of insurance companies. I think the nearest one near me in Va Beach is in Richmond. Just can't remember the politically correct name for them.

Just the exterior parts that need replaced (not fixed) are
- bumper cover
- Front air dam
- Hood
- Pass. Fender
- pass. head light bezel

Of course, I am sure it bent things behind it that I can't see. But I did drive it home and it did still drive staight....

Jason

lightning95sc · Post by **lightning95sc** » Sat Nov 20, 2004 3:30 am

Sueing for additional damages, over and above what a persons insurance pays depends upon what the liability limits are in your particular state.
Its highly unlikely, though, you can sue her personally after her insurance settles with you. Be prepared if they want to do a total loss settlement with you..... They may try and SELL you the "salvage" and title it as such to LET you have the "privelege" of keeping your car.
If you have any questions I used to be an adjuster with AAA and I still have a few buds in the business. Chuck

85McLaren · Post by **85McLaren** » Sat Nov 20, 2004 8:24 pm

I have never understood the idea of "buying" back a vehicle. ALL State tells me that if the damages are 75% or over from the value, they will total the car. Well that tells me they should give me 74% in a check of what the car is worth. Example:

Car's worth is 10,000
Damage for totalling would be 7500.
If damage is under 7500, let's say 7400, that means they would settle and fix it.

Therefore, if they would fix it using 7400 dollars, they should pay me 7400 as that would be the MAX amount they would give before totalling it....

If it is totalled, what does that exactly mean? It is my car, so why do they keep or buy the car...???? I just never had anyone explain this to me. Never been in this situation....

Jason

lightning95sc · Post by **lightning95sc** » Sun Nov 21, 2004 1:45 am

OK! Insurance vernacular 101.

TOTAL LOSS:Cost of repairs to vehicle would exceed value of said vehicle.

VEHICLE VALUE:Stated value....an amount agreed upon between insurer and insured. Usually requires insured to have an appraisal.
Replacement or market value(the latter term the insurance company teaches its adjusters to say"fair market value"!!!)... the amount it costs to theoretically relace the totalled vehicle. This figure is an average taken from sample/similar vehicles sold in your area OR what the used car manager at three(3) dealerships tells you that vehicle is currently bringing on thier lots and you average the three against the vehicle in question.
The problem with "fair market value" is that YOUR car is never as "clean" as the sample cars, so you get depreciated down from the average.
This is clear as mud, I know, but I hope it explains a little bit. Chuck

svo413 · Post by **svo413** » Sun Nov 21, 2004 4:23 am

I went with Ford Motor Company. They had a display at the 40th Ann. show. Of all places to get classic car insurance, most had some limiting factors like annual miliage etc. I got all 3 cars insured for $449 per year in CA and no appraisal.

84 SVO $18K value
85 Mclaren $10K
67 T-bird $15K

No deductable, full collision and $500 in spare part coverage too. Basically the liability is about $100 and you add each car. No annual miliage limit.

75coug · Post by **75coug** » Sun Nov 21, 2004 4:11 pm

svo413 wrote:I went with Ford Motor Company. They had a display at the 40th Ann. show.

What is the web address for the insurance program that you used?

svo413 · Post by **svo413** » Sun Nov 21, 2004 5:33 pm

I just called them at 877/ford-vip or try www.fordvip.com

n20capri · Post by **n20capri** » Mon Nov 22, 2004 4:54 pm

Sandy wrote:I have 4 cars with GRUNDY and Grundy is THE best! VERY reasonable rates, terrific coverage. Don't leave home w/out it!!

http://www.grundy.com

Horsham, Pa. They'll quoite on their suite. They ARE car people, to boot!

They place the insurance with CHUBB a huge 5 star ins. co here in the NY NJ PA area.

You can use my name, and they'll look up my policy and sell you the same,if you want.

My 3 McLarens are each covered for $ 18,000.00 total loss value. My Sixty Special is also at $18,000. My premium is $250.00 per car, per year. BEAT THAT !! (and) UNlimited Mileage !!

I have grundy...car is covered for 30k...less than $400/year...

Sandy · Post by **Sandy** » Mon Nov 22, 2004 6:01 pm

Mike, is your McLaren your daily driver, "go-the-the-movies & market" car? What do you use in the winter & in the snow ??

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