Help! My adjuster wants to total my car, what are my options?

[BrakeL8]

best of luck- have you considered/looked into 2 things? 1) loss of value claim agains the party that hit you? I know this was discussed in the initial thread. 2) I've been lucky enough to never have been in this situation, my friends who have have stressed that the initial numbers thrown out are just starting points, and they've always experienced them being extremely low and have found comparable cars listed/recently sold for significantly more (perhaps your local dealer can help here for a current customer?) and have gotten these 'offers' pushed up significantly. Again I wish you nothing but the best.

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[LUISGT3]

Right, but real world value for an 03 C2 is closer to $36k. 01 Turbos can be found in the low $40's.

[LUISGT3]

The most important thing is for you to make sure is that the DO total the car. YOU DONT WANT THAT CAR BACK. You just need to make sure you get the right amount of $. NADA, Edmunds, KBB are all good sources for you to show THEM the value. At the end of the day, they are going to give you whatever they want, it's up to you to do your homework and be prepared to debate the adjuster so that you don't get screwed. Once you are closer to the $60's in price, hit them with the tax. (Which they will have to pay)

[paulycw]

Sorry to hear about your car and the nuisance of dealing with insurance company is likely adding insult to injury.

Since the 996TT market is pretty soft, I would use the insurance check to purchase another turbo rather than fixing a car that is substantially damaged subject to diminution in value associated with a salvage title.

Ard is right, I would start bargaining and not settle with the $47K. As long as you can substantiate a higher comparable value, the insurance company will likely increase the offer.

[ard]

If I may add- once you start putting it in writing and show them you are willing to slog it out, they will recognize that you will not be easily dismissed.

There is someone on the board here who owns an insurance agency in Ohio....hmmm...just can't recall the name.

Ah, found it: viprklr

Good luck

A

[Turbohead]

Originally Posted by ard

Do you have the right to purchase the totaled car in Ohio?

You need to expand upwards from $47k. That is THEIR the value of a comp... then add in your additional expenses. Get the receipts, tally it up. Given the tranny rebuild and proximity to the total lost I'd try to get that into the deal.

AFTER YOU'VE COME TO A VALUE, hit them with taxes. You 'lost' taxes- it will cost you taxes to go out an buy a new car for $47k. In CA it is not an issue- insurnace pays taxes. They will, of course, argue that "oh, our number included taxes'. Bull. NADA does not include tax, nor do comps. For this reason you must wait until the very end, once all the comps are done, to hit them with tax.

Personally I would take the $$$ and start over- the hassles of repair and having to deal with a buyer when you sell it would outweigh the hassle. I also don't believe him when he says he will guarantee a 'no salvage title'. Get that in writing if you do go that way.


Put this in writing:

"Thanks for the offer, but we need to clarify the actual value of my loss'.... within XX mile sof thius accident I purchased the following: x, y, z with a value of a, b, c. The total is $14,900.

A review of the pricing for a 2001 996TT in excellent condition shows the following:

Edmunds
Cars
NADA
etc

The average price, retail, of a car is $53,700

I will therefore settle this claim for $53,700 plus $14,200

Thanks

Liquid"

Print out all the stuff, page prints on pricing, dated receipts, etc

One thought- if it starts getting too high, he may decide they need to fix it.... You could get it up there, then say "I'll take off the tranny repair and it will be $59k or whatever."


You are entering this funny world of 'hard and fast numbers and receipts' mixed with good old fashioned 'lets make a deal horse trading'


Sorry to hear-

Good luck

A

Exactly what he said........ I did it !
If you don't agree with their pricing you can force them to arbitration which they won't want to do.After you get an agreed price yopu can negoitiate the salvage value .....again they would like to write one check and not take the car back.
good luck
Elliot

[BJAFARI]

As a dealer i have worked with many insurance companies. Provide all receipts for work done and parts. Browse autotrader.com, this site, and other sites that show cars in the same condition as yours (miles, body, interior, exterior, etc) and prove how much it would cost to buy another in identical condition (after all insurance is so you can replace your car and not lose money). Have all registration + tax records on file.

They will always low ball you. Its like buying a car, your not just going to pay the first price a dealer spits out. They know this and you should too. Do not settle for less than you think your vehicle is worth.

In the end if your car is not covered for the amount you would want you can always go after the other party. Make sure you do not sign the document from their insurance that states " by signing this i agree to not pursue or take any legal action against ****** & ******* insurance".

Good luck and i wish you the best

[kilrgt]

Sorry to hear about your car, fight with them and get more money for the car and let them keep it,you don't want the future BS of owning a salvage tittle car.Can you try and get your mods out of the car before they write it off?

[Mikelly]

ard's two posts are indicative of what I experienced previously when I had a hobby car destroyed by another driver...

Insurance companies are going to low ball you because they want out for the least amount possible...

I'd also be concerned about what damage may crop up in the driveline later on. Buying this car back and repairing it makes total sense if you're going to use it as a track car, but ZERO sense if you think you're not going to experience a depreciated value issue associated with the claim... IT'S A CAR. Don't get too emotionally attached to it... Move on.

Mike

Originally Posted by ard

If I may add- once you start putting it in writing and show them you are willing to slog it out, they will recognize that you will not be easily dismissed.

There is someone on the board here who owns an insurance agency in Ohio....hmmm...just can't recall the name.

Ah, found it: viprklr

Good luck

A

[WILLIAMP]

liquidcool,

If you consider your car an asset and want more control over the repair process. Or if at any time, you feel you are NOT being treated fairly by the at fault drivers insurance company, simply contact YOUR insurance agent and discuss the possibility of Subrogation. It will take longer than simply settling with the other drivers insurer, but in the long run you have an additional party involved that has your best interests in mind (you are their client) and many of the choices (shop, parts, paint) can be made by you or at least performed to your satisfaction. It is at least worth a phone call to your agent.

Good luck!

[Small Shrimp]

Can I pitch in?

Ok, you can find 90% of those parts on the board (or really close)

If I remember right my rear bumper skin, rear spoiler and trunk lid and front bumper skin OEM came to around 12k. I got all I needed off this board and others plus Misha stuff for around 3200.

So you have options.

Just remember that.

[ari]

I LIKE that!

1. DO total the car. YOU DON'T WANT THAT CAR BACK
2. "hit them with the tax" you gotta replace it right

Originally Posted by LUISGT3

The most important thing is for you to make sure is that the DO total the car. YOU DONT WANT THAT CAR BACK. You just need to make sure you get the right amount of $. NADA, Edmunds, KBB are all good sources for you to show THEM the value. At the end of the day, they are going to give you whatever they want, it's up to you to do your homework and be prepared to debate the adjuster so that you don't get screwed. Once you are closer to the $60's in price, hit them with the tax. (Which they will have to pay)

[liquidcool]

Thanks, especially to ard whose advice I followed. I have reached a settlement agreement with my adjuster and will post the full story just as soon as the check clears - it will more than cover the repairs.

But alas, this may have been the last straw with my wife - she thinks the car is cursed and wants me to get a new 997 C2S, so I may be out of this forum if that's how we go.

Thanks to all for the help, you guys are great!

[kilrgt]

I'm glad you got it taken care of, but you will be back there is no way you can go from a TT to a C2........its just not possible

[LUISGT3]

Originally Posted by kilrgt

there is no way you can go from a TT to a C2........its just not possible

What he said. Congrats on coming to a settlement, I hope you got the right amount of $ for your car.