Okay, as mentioned in a previous thread, hubby DeathLlama’s car was rear-ended last Friday. He was, in no way shape or form, at fault. In fact, the person who caused the accident set off a chain reaction–4 total cars were involved, with my hubby the unfortunate end of the chain.
DL drives a true classic car, a 1968 Volvo that of course had just come back from the shop getting brand new suspension the day it was hit. True story: The car is a family heirloom. DL’s parents bought it when it was 6 months old–4 years before DL was born–and have had it in the family ever since. For a 34 year old car, it’s in great shape–good interior, paint, and of course…brand new suspension.
Now, DL was told to take the car to an approved collision center and get the damage repairs estimated. Then, AAA would be notified and issue him a check for the estimate of repairs. He went today and came back with smoke coming out of his ears…why? Because he was told the cost of repairing the vehicle outweighed its value. :mad: They told him–grr–it was only worth $500! Bull feathers! GO FIND ME a 34-year-old Volvo with JUST TWO OWNERS–AND THE SAME ONE FOR 33 1/2 YEARS–and in THIS KIND OF CONDITION FOR $500!
Besides all that, what does it matter? It’s not DL’s fault his car was hit, it was the fault of the guy who didn’t notice the cars stopped ahead of him. Perhaps it is noteworthy that the guy at fault has the same insurance as us–perhaps the insurance company doesn’t want to have to pay?
So, my humble Dopers, What can we do? Is there any hope of insurance paying for repairs on the car?
Go to Trader Online and search for, say 1966-70 Volvos and you may be able to establish a true market value. Almost anything that’s 34 years old and in good shape has some collector value.
Ebay can also be a good place to look for prices because you can find selling prices instead of asking prices. Often they are more convincing to the insurance company.
All the above are correct. You need to establish a market value for the car. Many used car departments of new car dealers subscribe to a booklet publication called “Cars of Particular Interest.” It shows auction values of mostly older cars that are thinly traded.
How many miles are on the car? If it’s over 100,000 (and why wouldn’t it be?) you’ll be fighting an uphill battle all the way, regardless of the condition. The market for 33 year old cars with high mileage in Chicago is not that great, almost regardless of the make. So Cal could be different, but most who buy really old cars want low miles.
My guess is the market for 68 Volvo’s is pretty thin, but you’re fortunate living in So Cal becuase the auctions there are more likely to feature older, rust-free cars. Perhaps the 68 Volvo is much more popular and considered a classic vs being a relatively unknown commodity in Chicago.
(Genral advice that may not apply to Ruffian’s situation follows) Driving an older car, a high mileage car or a car with low book value for daily transportation is risky for exactly what has happened to Ruffian. Almost any collision will result in a low cash payout to the owner instead of a repair. Insurance companies are not required to make repairs that exceed the actual cash value of the car, regardless of the cost of recent repairwork. It’s not a bad idea to check the ACV of one’s car once in awhle in order to be prepared.
Restoring or making improvements to an older, especially high mileage car, is very risky unless the car is deemed a “classic.” '57 Chevorlet or '55 T-Bird come to mind. Gull-wing Mercedes is another. There are many.
However, no one drives a “classic” for daily transportation because the risk of not recovering the investment in the event of a collision is too great.
I don’t think an insurance company is going to take an Internet quote of value on any car.
It would probably depend on zee policy, if you read it, it probably says something to the
effect of how they determine the value. The book value is pretty common. If it was worth
more then you should have told them that beforehand, right?
Scum-sucking insurance companys! Almost as bad as lawyers! Legalized theft and extortion, if you ask me! (and you kinda did, being IMHO and all)
Since it wasn’t hubbys fault, go after the cause of the pileup and demand they fix your car! Similar thing happened to me, and they were so afraid I would sue that they gave me whatever I wanted, and in the end settled for a nice chunck and I didn’t have to split it with a lawyer. (would have come out about the same I reckon)
Good Luck!
The black eye was just a misunderstanding. She thought I said that she must attract a lot a admirers with her wits. I told her she misunderstood…
For the love of gawd, let this be a lesson to ANYONE with a collectible car.
GET IT APPRAISED!!!
Worst case senario - let the insurance company write it off and then buy it back off of them. Pay to get it fixed yourself if you can handle it. Then, get it APRAISED.
After the insurance company declares your car a total loss, you can buy your car back from the insurance company for the salvage value. However, in Illinois (and I would imagine in most states) the title gets stamped “SALVAGE” or something to that effect so that any future buyer will know what they are getting. Beyond that, if you do fix and keep the car, you will only be able to get liability insurance on the car. Once a car has been declared a total loss, insurance companies will not pay collision or comprehensive claims.
Combining a few posts, if you want more than book value for your car if it’s totaled, you need to get it appraised and have it insured for that amount. Of course, this will cost you more.
Whatever you do, get oldtimer insurance, and get that thing appraised. The oldtimer insurance might be cheaper than a regular one, and provide better coverage, even. The appraisal will make sure it won’t be declared a total loss as easily.
I think you’ve linked to pics of this Volvo before. From what I can recall, it’s a beauty indeed. Kind of a blueish gray, right? An Amazone 121, right?
Alas, you might be screwed as far as these repairs go. Well, I guess they’ll have to pay you the $500. Is there a Volvo Amazone club nearby? They might be a good start for cheap parts, should you have to pay for it yourself. Also, they’ll have good information on insurance and appraisals.
For “classic” car insurance, check with American Classics Insurance (1-800-360-2277.) I’ve got coverage for my 1969 AMC AMX through them. The first year, they just cover my actual purchase cost, but after that, they cover the appraised value. Conditions, though, include a 2,500 mile/year limit and it must be garaged. Oh yeah, it cost me $77/year.
Thanks for all the help, everyone! I’ve visited many of the links. We may indeed have to eat this, but we’re going to fight it every step of the way. (Politely, though.) The Car Pricing Index lists DL’s car as being worth nearly $6,000 in excellent/rebuilt condition…and of course, you have to pay/subscribe to find out for cars in good/fair condition. Still, $2000 should’t be unfeasible.
thinksnow, DL drives the car far too often for that insurance. 2500 miles a year? In L.A.? HA HA HA HA…ahem, I mean, not really likely.
Coldfire, you’re very close! It’s a 122, but yes, an Amazon. DL may have linked pix before, but not of his car–just ones like it. Here’s a link to some pix: http://www.scandcar.nl/defframe.htm If it doesn’t get you directly to the photos, click on the “Amazon” style off to the left. DL’s is like the 121, but there are small differences (small enough I can’t see them). His is the beige/cream like the 3rd car down.
DL is in the process of replying to this thread, so I’ll duck out…
I’d check with the Volvo club first, and see if they can connect you with a good appraiser and/or restorer who can give an expert opinion. Barring that, you may need to do some research through collector car magazines and ad sources. Collector Car Trader is a good start, and you may also want to check out Hemmings Motor News. IIRC, the NADA also publishes a collector-car value guide which may be of some help in establishing value. After you do that and once the car is fixed, hie thee to a collector car insurer to get coverage.
<unsolicited testimonial>
I have my '66 Cadillac and '76 Buick insured through Hagerty Classic Insurance. They offer “agreed value coverage” which pays off on a total loss at the agreed value of the car; you insure it for $10,000 then you get $10,000 if it’s totaled. They don’t have a mileage limit and for my two cars my premium is only $150 per year. Their service is excellent and I’ve had no trouble with them. Of course, I’ve never needed to file a claim (thank Og) but I’m happy with their service.
You must garage the car and show proof of a registered and insured daily driver to get coverage, though.
Dammit. I got hit. And I wasn’t pissed, because these things happen and that’s why we have insurance. Supid piece of crap insurance company. I just want my car the way it was before Mr. Inattentive crunched it up. (And at the time I felt sorry for him–taking out two of his family’s cars at the same time, plus two others.) Oh, and thanks for all the apprasial advice, folks, but that wouldn’t do me too much good. Even if it were in much better shape that it is (or was), it wouldn’t appraise for more than, say, 3 or 4 grand. This was a pretty minor fender bender (for my car) and the auto body guy told me they’d have to replace the replace a rear quarter panel (minimum of 2 grand). Even if it were in fantastic shape and were appraised high, all it would take is a slightly more involved accident to exceed the value of the car. Grr.
So apparently, my car isn’t worth much. Well, it’s worth a lot to me, dammit. Fix my car!. (Said in Krusty the Clown “Paint my fence!” voice.)
Grrr.
Oh, and thanks for the links, Coldie.
BTW, if you follow the link Ruffian gave, you will indeed see the type of car we’re talking about, but those are all much shinier than mine.