Just making sure

[FordGuy100]

I guess I was just curious as to why she brought that paperwork over. Insurance would have to find me a truck just like mine, I have many pictures and videos.

Thanks for the advise! Confirmed what I thought, don't do it

 

[towcat]

I guess I was just curious as to why she brought that paperwork over. Insurance would have to find me a truck just like mine, I have many pictures and videos.

Thanks for the advise! Confirmed what I thought, don't do it

not necessarily so. they are under no obligation to replace what you have.
they are only obligated to pay you "fair market value". Only time the insurance company is obligated to replace what you have is when you have purchased a "replacement value policy" This policy is significantly more expensive but you will get replacement value on your truck.

 

[FordGuy100]

Well unitrin valued my truck at $1850

They offered me $1417.some change

 

[Devilish]

You don't have to accept their valuation. What is the actual repair estimate? You can get your own appraisal and estimate then work it out in small claims court. Could you post pics of their appraisal and repair est so we can see how they came up with their offer?

 

[FordGuy100]

That was over the phone,I'm sure I would have to request that info.

I have allstates in front of me though, as he printed it out when he came to look at the truck.

 

[Devilish]

Look here for your retail value in the classic section http://www.nadaguides.com/
Don't tell the ins co about value at nada. This is for suing the insured at small claims court. Get a real estimate from a body shop. Insurance companies play this game where they estimate the damage as low as possible. When the actual work is done the shops call the adjuster back for supplemental repairs. This way they can pay you less you just take the cash. In your case they went low with your truck to give you less payoff. They'll use ads on newspapers for comparable trucks to show why they can offer you a low amount without picture of those trucks to back it up. They also didn't ad for your turbo system and other upgrades. I've never seen an ins co ad those without a fight.

 

[towcat]

Well unitrin valued my truck at $1850

They offered me $1417.some change

the 1417 and some change.....do you retain salvage?

 

[FordGuy100]

Calvin, I believe that's without doing anything to the title, pay me 1417 to resolve. They said to buy the truck fin me would like 2100$ which includes tax, title, and license. If they do pay me, I would think the title would be unaffected (unless I sign it over, which I won't).

 

[towcat]

Calvin, I believe that's without doing anything to the title, pay me 1417 to resolve. They said to buy the truck fin me would like 2100$ which includes tax, title, and license. If they do pay me, I would think the title would be unaffected (unless I sign it over, which I won't).

are you comfortable with the $$$?
if so, have them give you an offer in writing or email. with the clarification that you will retain clean title on the truck. salvage title takes down your value by 1/2. we certainly can come up with comps on your truck's value.
also, does unitrin have pics of the bodywork being done already?

 

[FordGuy100]

Calvin, I had not started the bodywork, thank goodness, I was waiting to settle before doing so. I will request the paperwork showing what they factored in for the pricing.

I will have to call both to see if they would require a salvage title to pay out.

 

[creighta]

Don't sign yet!!!! Just went through this with the wifes ride!

(I missed your accident thread, sorry to hear about it!!)

If you want the truck fixed the insurance will give you a check for the value of the repairs and you get it fixed, or not, your truck and your money....been there before.

If they total it they give you a check for value and they get the title. If the book value is crap and you have a restored vehicle (as in this case) if you can show value of major restoration work they should cover it.

perfect example, I just got close to $6K out of a car with a KBB of $1200 because I had GOOD records of restoration and non-maintenance preventative work.

In my experience, Allstate will work hard to screw you. Just hold out and they will give in bc it is cheaper than calling and filing paperwork every day.

 

[Devilish]

I got $3700 including court costs by suing the insured because the ins co tried to jerk me around. I used nada retail values and body shop estimates to state my case. My truck really is a total though. Also because of the way I did it I still have my truck and the title is clean.

 

[Devilish]

I should also state the even though I sued the insured, the ins co had to pay the judgement.

 

[seawalkersee]

In 05, there was a tornado that went through here. Tore up a lot of houses and such. Within weeks, there were some places that had been knocked down and were half built or totally repaired. Then....there were the people with allstate. They were still awaiting adjusters. So much so, there was a news story about how they had failed to fix the houses and property.

SWS

 

[Devilish]

Allstate......because of them I learned how to beat the ins companies