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73-87 Chevy _ GMC Trucks => 73-87 Chevy & GMC Trucks => Topic started by: heavychevy91 on September 29, 2010, 03:48:37 pm
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Sorry this is soo long its a long story...
So it was a beautiful Saturday (9/18) morning, my buddy and I were heading to my cousins house to help him swap the front axle in his K5 Blazer. We are sitting to make the left turn into his neighborhood.... and BAMMMMMMM a Lexus plows into the back of me doing about 40~45 mph. We were dead stopped. We were pushed about 20 ft forward. I was in shock. One min were sitting still and then bam, I look at my friend and was like, "what in the heck just happened?" I got out and asked the other guy if he was okay. He said yes and his kids were fine too. I said okay good I’m calling the cops now. There was coolant spraying everywhere out of his car and my truck was hit pretty good too. He hit me so hard it bent my trailer hitch down into the ground and my ball was dragging on the asphalt when we went to pull it off the road. (He bent the friggin frame!)
The first officer to arrive was a park officer and he helped us exchange information and check to see if everyone was okay. The other guy involved was being kind of weird about the whole thing at first he refused to let me see his driver’s licensee claiming it was personal information. I replied it may be but that’s the information I get when you hit me. The officer came over and helped clarify at this point. blah blah blah more legal stuff goes on. They ask me if I need a tow home and I reply no my trucks still functional. (Luckily I was going to work on my cousin’s truck so I had tools to unbolt my hitch at the scene)
About 3 hours later that day I get a call from the other guys insurance company (Geico). They ask me if I would be willing to take my truck to a body shop to get an estimate. I inform her that I do all my own work on the truck and if I went and got an estimate that’s all it would be and that I would be doing the work myself. She said that’s fine. On Wednesday I take it to one of their Insurance/ body shop places the guys comes out and looks at my truck and says it most likely totaled due to the frame damage. He writes down some notes. He said since I want to keep the truck I basically have two options. They can total it and give me the amount, then I can buy it back from them with a salvage title...or they do a property "damage claim" and write me a check for 74% of the trucks value (right under being totaled) and I can just go on my merry way.
He calls me back and says my truck is worth $2,925 and he will do the "property damage" check for $2,162.50. With the price of a new bed, new bumper, new trailer hitch, and going to a scrap yard getting sections of frame rails and splicing them in... Plus paint I’m probably looking at right around $2,000 if not more. Im pretty attached to the tuck. Already put a new motor in and rebuilt the trans and I’m not afraid of the work. BTW my truck was garage kept since new until 2000 so theres not a spec of rust on it which is rare for my area.
I believe the value of my truck was too low given the guide lines that assessment document shows and the price of comparable trucks for sale in my area.
Input?
Thanks
Tim
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more pics. also i do have the file the Insurance Adjuster sent me about the appraisal of my tuck
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I would take it to more than just "their" shop. I would also be prepared for a battle. What does your insurace company say?
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"that's personal information" Hahaha what a dummy. You handled that just right--"that's the info i get when you hit me" right on!
That guy needs to not only take a safe driving class, but, take a class on exchanging info when in a wreck. I guess he thinks you should just drive off and wish it didn't happen since there would be no way to contact him. ??
I hope everyone reads this thread, and the one by Mike Phillips whose red blazer was hit in the but end also and bent all up. As a general rule, our trucks are worth so much more than book values. What does that mean? It means call an appraiser that deals with classic cars/trucks and get a written appraisal. Then, call your insurance agent to have on record the value of your vehicle in case you are in an accident. It will be on record as to the value of your truck. Once the accident happens, it's too late. Your truck, judging from the pics was probably worth 4x the amount they are willing to pay.
As Chris states, never, ever use the body shop recommended by the defendant's insurance company. You know there is a relationship between the insurance company and body shop company. Politely say, "no, I have a body shop in mind, thank you" and take it to the most expensive place that exists--then do the work yourself and pocket the balance. Of course, being totalled, it is a slightly different story, that is why you should have a current appraisal on record.
I would've come out grabbing my neck and back personally and perhaps fell on the road. Those seats in our trucks arent the best for neck safety. Atty would get you double your money lost at work, double hosp bills for pain and suffering. You could then get a new truck. Chances are the guy was probably on the phone or texting when he ran into you--either that or he was just blind....talking punitive damages then...more $$
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Capt, I did take it to another shop in the area as well the guy took one look at the frame and cringed. So I talked him into writing an estimate if I fixed the frame and had him do the rest. He quoted me $2,496. When I told the insurance company this they kept going back to the fact that the value of my truck was only $2,925. >:(
http://www.nadaguides.com/default.aspx?LI=1-22-1-5013-0-0-0&l=1&w=22&p=1&f=5014&y=1986&m=1035&d=7239&o=7948~7946&vi=95775&z=21046&da=1
I would think I could at least get close to fair value for my truck. I dont know if its just them trying to low ball me or what. I did try calling my insurance agent just go get his opinion (I only have liability on the truck as of now) I did not reach him but I spoke to his secretary who recommended getting another estimate but didnt offer much more than that.
SgtDel, I did read that thread thread and kept telling myself I should get an appraisal. But decided to wait until I got a few things fixed up so it would look better. Probably not the best idea, I guess hindsight is 20/20.
Thanks for the input so far.
as John Lennon once said, "life is what happens when your making other plans."
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Looks like yours falls under average retail:
Average Retail Value
This vehicle would be in good condition overall. It could be an older restoration or a well-maintained original vehicle. Completely operable. The exterior paint, trim, and mechanics are presentable and serviceable inside and out. A "20-footer".
I would have an estimate based on the shop doing all of the work labor and all.
BTW the name of the site/company is nada"guides", so it can only give an general idea.
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Remember that the value at issue is for YOUR truck, not some hypothetical one in the guide. The guide values are OK for newer vehicles. For a vehicle the age of ours, they are mostly useless since the condition will vary so much. That said, you will probably have to be willing to get a lawyer and fight them if you want to get anywhere near what your truck is worth.
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Sgtdel and Captkaos brought up some good points and as they mentioned you can follow along with the nightmare Mike Phillips went through with his truck.
As far as fixing your truck I would start looking for a good parts truck with a solid/straight frame and bed. Then is would basically be a bolt together repair without straightening/splicing your frame back together.
Keep in mind that is some states if the insurance company totals it (like in Mass) you will have to have the State Police inspect it before you can put it back on the road. My advice as far as this goes is to keep track of your paper work. When the insurance company totals it they will provide you with a estimate with all of the damage. In Mass you are required to show proof of where your replacement parts came from. You just cant show up with the truck all fixed and plead the 5th when they ask where the parts came from.
Hope this helps.
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If your truck is as rust free as you say I'd go out on a limb and say its still worth more than $2925--even with the frame damage. Its just the last foot or 18" of frame that's bent, right? Easy fix and I'm not so sure you couldn't just do it with some channel or tubing. Very sorry to hear about this. Makes me scared to fix up and drive an older vehicle. No one seems to appreciate what they are worth.
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It shouldn't be too late to have it appraised by somebody who deals with classics/vintage vehicles, like SgtDel said. I am sure they can envision what it looked like before the crash and give you a realistic value. A friend of mine has an old Kaiser Jeep pickup that was pretty rough when he got it appraised and they valued it at $12k. He used it for collateral to buy his house. From the pics I would guess your truck is worth at least double what they say.
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A good reason to have collector insurance, such as Hagerty, you can have your truck insured for what ever value you are willing to pay for. Actually it is quite affordable. You can do a quote online.
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A good reason to have collector insurance, such as Hagerty, you can have your truck insured for what ever value you are willing to pay for. Actually it is quite affordable. You can do a quote online.
So I have this rusted out 85 M1009 that I paid $500 for, can I insure it for $100,000 in case something "hapens to it"?
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Yes, you can.
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A good reason to have collector insurance, such as Hagerty, you can have your truck insured for what ever value you are willing to pay for. Actually it is quite affordable. You can do a quote online.
So I have this rusted out 85 M1009 that I paid $500 for, can I insure it for $100,000 in case something "hapens to it"?
I think the point is that this middle of the road scheme is garbage. If you have a newer car or an older car they can tell you a value, but they don't do justice to anything in between. A '69 camaro and a new camaro book similarly, give or take a few grand. Anywhere in the middle is scrap metal as far as the book value folks are concerned. heavychevy91 is in the crosshairs to get screwed in this deal, just like Mike Phillips got hosed on his blazer.
Fitz; if you dropped a pile of cash into that rusty M1009 and completely restored it and built a 10 second racer out of it I bet you would be upset when somebody smashed into it and offered you 500 bucks, cause that's all it was worth when you bought it.
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Gotta love MD drivers ;D
Couple of weeks ago the school bus going west stopped in front of our house lights a flashing some idiot rear ended the bus, his excuse the sun was in my eyes I started laughing cop didnt like that I was calling the guy out :)
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his excuse the sun was in my eyes
So he is a gambling man. He knew he couldn't see, he just hoped nothing or no one was in the road. Heck, just keep driving, no matter if something is up ahead.
Hint to an attorney...check his cell phone records. I bet he was on his phone or texting the instant of impact. ;)
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[/quote]
I think the point is that this middle of the road scheme is garbage. If you have a newer car or an older car they can tell you a value, but they don't do justice to anything in between. A '69 camaro and a new camaro book similarly, give or take a few grand. Anywhere in the middle is scrap metal as far as the book value folks are concerned. heavychevy91 is in the crosshairs to get screwed in this deal, just like Mike Phillips got hosed on his blazer.
Fitz; if you dropped a pile of cash into that rusty M1009 and completely restored it and built a 10 second racer out of it I bet you would be upset when somebody smashed into it and offered you 500 bucks, cause that's all it was worth when you bought it.
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I agree that more people should have stated value insurance on their specialty vehicle where the book value does not do the vehicle justice. The stated value lets the vehicle owner and the insurance company know up front what the vehicle is worth in the event of a total loss.
What I was getting at is that the value of the vehicle is set by an appriser, the owner just can't pick a value (like saying my rotted our $500 M1009 is worth $100,000 as an example). The idea is to get the vehicle insured for it's realistic replacement value.
You made a reference to a 69 Camaro. Yup, I got a hugger orange one in the garage and it has stated value insurance on it. The value of it was set by an independent appraiser (the car gets appraised every few years). The appraiser looks the car over and then does research to see what similar cars are selling for. One thing the appraiser loves to see is receipts for work done. They want to know if that great looking small block under the hood is a SB 454 that you spent $7500 on or is it a worn out 305 that is just highly detailed.
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Situations like these should be a warning to us all. Things get out of hand quickly when you start building a vehicle that started out for all practical purposes 'junk' and end up being a great rig with $6000 worth of reciepts in the glove box. I didn't really think much about additional insurance until now, but if my 82 was wrecked they wouldn't offer me enough to buy just the tires and the trans, let alone the rest of the truck.
fitz: My apologies if my other post sounded like an attack. Awesome camaro
heavychevy: Roll up your sleeves and fight this tooth and nail. See if you can get it appraised at what it was worth minutes before the accident. Somebody should be able to do that, it's not like it was burned to the ground. Good luck.
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fitz: My apologies if my other post sounded like an attack. Awesome camaro
No problem Grim, this is a good topic to cover, as I'm sure many of us could wind up in the same boat in the event of an accident.
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his excuse the sun was in my eyes
So he is a gambling man. He knew he couldn't see, he just hoped nothing or no one was in the road. Heck, just keep driving, no matter if something is up ahead.
Hint to an attorney...check his cell phone records. I bet he was on his phone or texting the instant of impact. ;)
No even better the sun was behind him lol that is why I was laughing
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I don't have any help to add but this...
"If" you had a heavy duty hitch your frame would not have buckled, the HD hitch goes a lot farther up the frame and would have kept it from bending under like it did. Having said that your heads might have went through the back window and seriously hurt you since the truck would have really been slammed forward instead of crumbling like it did.
I hope this all works out for the best for you, $2,500 should go pretty far towards making your truck even nicer. After you patch the frame you might want to box it in and install the HD hitch, that should make it a lot stronger then it was and make for a long\happy life.
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Sorry about the loss. Insurance companies are not fair when it comes to our trucks. I have Hagerty on both of my 50's vehicles, and they are covered for $15,000 each. It would replace one, but the other (less than 60k miles, everything is original) couldnt be replaced. But i may be able to build another one for that amount. We just dropped Geico after 15 years because they wouldnt cover my wifes WS6 after a hail storm caused the paint to chip on the hood. Our other insurance company said it should have been covered. Kept talking about how it didnt dent the hood??? Ifs composite, just like the majority of the rest of the car, it wont bend, it will flex and cause the paint to turn loose tho.
Too bad you arent closer, I have an 85 frame that Id give you.
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I dropped geico after they covered my car 100% but didn’t cover me due to "my choices" in coverage that I didn’t know I selected because it was all over the phone and I never under stood the paper work kind of my fault. but I had to fight with them to get my car 100% I think it was about 15,000 then only wanted to pay me trade in value I laughed at them and said but im not trading it in. they also wanted to check my millage so I "lost the key" and the digital gauges wouldn’t light up so they couldn’t check it. the still didn’t want me to 100% so for some reason they decided to show up with a tow truck and again I laughed at them and told them to get off the property until they send me a check about a month or two of fighting and calling they finally sent the check to the bank 100% and then they forgot to pick the car up lol. About 3 months after paying for the car I finally called them up and asked when they will pick it up they were confused why it was still there at my house. I guess what im saying is don’t give up it may take a little longer to get what you want but fight for it. Go some place where they know what they are looking at and not something they think should have been traded in as "c4c"
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Sucks about your truck, but glad you are ok.
Go on eBay, craigslist, etc, and find trucks, like yours, in good shape, and tell them "Your guide says they are worth $2900 but they sell for $5000" Do not take their first offer. Grind on them. DO NOT let them salvage title your truck. Depending on state, it effects ability to register and insure. Also, it will be less valuable when you sell it, so you need to bring that up with them. If they start giving you shoot, I think you, and your passenger may have some neck injuries that have surfaced...................
Being in Socal and the land of bad drivers and illegals with no insurance, I carry a TON of insurance. Uninsured, under insured, full coverage and theft etc. I have had stated value policies before AAA Collector car is great, but an '80 is too new so I had to go another route. AAA had my 66 VW bug was $108 a year for a $13,500 agreed value. It has to be plausible. Nobody is going to give you a stupid number for a car. If you can get them, great. If not MOST insurance companies will cover stuff you have bolted on to the car at the time of the wreck if you can obtain a rider. Wheels, motor stuff, etc with pics and receipts. My C10 has a stated value of $8500 with my insurance company. They have pics of it, motor, everything that way IF something God forbid happened to it, then they would have documentation it is not your average C10. This is what I figure, IF something happens to my truck, I would have to receive to obtain another and get it to what I have now, or buy one like mine.....
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It has to be plausible. Nobody is going to give you a stupid number for a car.
Well said.
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heavychevy, how did it turn out?
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A good reason to have collector insurance, such as Hagerty, you can have your truck insured for what ever value you are willing to pay for. Actually it is quite affordable. You can do a quote online.
The main problem I had when trying to insure my '71 C10 with Hagerty or other collector insurance groups is they won't let you use a truck like a truck, and they limit you mileage. I was told, by Hagerty, that I would not be able to tow with my truck, or even haul with it. I could only drive it to and from automobile functions like shows and meets, and to and from Maintenance facilities. And given the restrictions, it could not be used as my primary vehicle. Not that it is, I drive a company truck every day. At this point I asked them, hypothetically, I have a '71 model classic travel trailer I might want to show with it, can I tow the trailer to a show with the truck? "Nope, you will have to tow the trailer with a separate vehicle, then attach it to the '71 at the show", is what they told me.
Not what I was looking for as I use my truck to haul the boat to the lake, and use my truck for hunting trips as well as trips to the hardware store. My truck is a truck, not a show queen.
So I ended up calling around to all the big insurance companies, and Progressive ended up writing me an agreed value policy with no driving or use restrictions. I used $10k and they wrote the policy. Now according to them, they will not automatically pay me $10k for my truck, but that amount or whatever repair costs are, whichever is the lesser amount. Luckily I have not needed to test this policy as of yet.
My point is, before using a collector insurance company, be very clear of the policy and it's restrictions.