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Re: Insurance Settlements
Posted by Peter Adler (more from Peter Adler) on Thu, 1 Jun 2000 11:49:21
In Reply to: , Kok Chen, Sat, 17 Dec 1988 12:00:00 

I sympathize with your shock.  After being stolen and recovered twice, my
wife's 69 Mustang convertible was stolen a third time and torched in
Boston.  It really is a shock to view a burned-out shell -- especially a
convertible.  Fortunately in both your case and mine, no one was in the
car!

Your 'full coverage' insurance will probably start with the vehicle's 'blue
book' value, based on age, mileage, and location.  Note, however, that most
'blue book' values assume that the car is in above-average condition.  The
insurance company may well try to get you to accept somewhat less.  In
anticipation of this, you might ask your daughter's mechanic to give you a
letter describing the 'excellent' condition of the car, especialy including
any recent major work, e.g., new brakes, exhaust, etc.  My experience with
insurance adjusters is that they're open to _some_ negotiation, but the
more backup info you have to support the price you want, the more likely
they will be to pay attention to you.

See one of the used car price guides, such as Kelley Blue Book
(http://www.kbb.com/) for details (with a
few assumptions, says your car

would retail for about $2770; see the explanation of what they mean by
'retail'). These guides are also available at your local library.

p
==================
Message from Jon Cole <jscoleno39sdcx6spamx782mindspring.com>
Expect a very low settlement.  The mechanical condition will barely figure
into it, if at all.  On an '86 I'd be surprised if you get an offer of more
than $2,500...it's too old even for the Edmunds guide, for ex., and our '89
is at around $3k-3,500 now I think...
==================
Message from <saab900sno39sdcx6spamx782juno.com
This will be a togh one for both of you (you and the insurer) As the car
is not readily reviewed for condition, 'crispy critter'  you will have to
call in all your witnesses as to the condition, i.e. your mechanic,
people who have nothing ot gain from describing the cars actual
condition, have you had any insurance calims in the last year and have an
adjuster that will remember the car? can you provide similar cars similar
condition for values do you have lots of documentation as to what you
have done to the car, though remember they owe the value of the car pre
loss, but that does not mean that the $1,000.00 in tires you just put on
increased the valus by 1000.00, more likely you raised the value by
250-300.00.  Good luck
==================
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