Insurance advice needed

[Dr donuhole]

43 days ago I was hit by a drunk driver. My car was a 17 mustang gt with performance pack and recaro cloth seats. It had 55,000 miles. On top of that it was twin turbo with supporting mods. The other drivers insurance just today offered me $24200 for the car. The did admit they didn't add anything for the invoices I sent in regarding all the aftermarket stuff and are working on that portion. It took 2 weeks for me to find out the other driver was insured as I was told by police on scene that he was not. So my insurance offered me $29,000 for the car not including any extra mods or anything. All the cars on my insurances valuation was equal to my car regarding recaro seats and pp1 cars. However the other drivers insurance none of the 8 cars on the valuation had recaro seats and only one of those 8 are a pp1 car. How do I go about wanting them to price the car based off of equal cars. And what kind of value do you believe is in the ballpark? The car was very well taken care of and I would say near showroom condio

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[Bigred911s]

That’s a rough situation to be in. Unfortunately insurance companies won’t pay for aftermarket stuff. I would remove all aftermarket stuff and sell them but $29k for. 2017 with 55k mi is a good number. Sue the drunk driver to.

 

[ORRadtech]

Sorry you are having to deal with this. You really can't trust either insurance company to have your best interests at heart. I think, to protect yourself and get the best outcome, you will need legal representation. I wouldn't expect the process to be quick, simple or easy though.
I'd also recommend that you completely stop posting anything about the accident on any form of social media.
Good luck.

 

[Paddles]

I would be curious to wait and see what they come up with for the mods but I'm guessing it will be a lowball. I would ask your own insurance company to provide you with the detailed report on how they valued your car at $29k, you may already have the report. I would then ask to speak with the adjuster representing the other guy's insurance and send him that report as well as your window sticker and make sure to let him know that your car has options which were not present on his "similar examples". They always do this, you may have to disagree with their offer a couple times before they give you one you like.

 

[SHOdaddy68]

You have more leverage with the other driver's insurance carrier. As long as the liability limit is high enough, they owe you what it would cost to replace your vehicle with the mods in it's pre-loss condition. If you've provided the receipts and proof of options, condition and anything else that supports your claim, they should eventually pay up. You may have to refuse a couple offers but you should get there.

Your own insurance carrier is limited to how your policy is written. Many companies have specific limits for aftermarket parts and modifications written into the fine print of the policy.

Good luck!

 

[Cobra Jet]

Hopefully you’re “ok” as materialistic things can be replaced.

—-

Whatever you do - do NOT accept their first, second, or third offer for the payout on the vehicle.

Go here and plug your VIN, then add any options the vehicle has on it from the factory:
http://www.blackbookportals.com/bb/products/usedcarhtmlportal.asp?color=o&companyid=thinkbank.com

That will give you THE most accurate value of what the car is worth TODAY. Do not use “Blue Book”, Edmunds, etc - they’re public BS “feel good” garbage values that Dealerships, Lending Institutions and Insurance Co’s. do not use at all…. The Black Book value is what those industries go by when assessing the value of a vehicle. They use that for ACV (actual cash value) evaluations, period. This hokey bullshit of providing you with 8 similar vehicles and then “averaging” them out to give you a baseline low ball payout is just that - bullshit - in hopes that you’ll be a sheeple and just say “ok I’ll take the check”.

Mods don’t add value at all - not in a wreck evaluation nor trading a perfectly good car into a Dealership; they don’t care, they only go by the VIN and As Built options and Black Book value is based off the VIN and factory equipment. You’re going to take a loss on the mods, unless you strip them off and sell privately on here or other venues. If you submitted valid receipts for the mods, that’s great - but don’t expect them to pay out what the tally of the retail receipts; expect to get 50% if that for the mods, because the mods are depreciated and full retail payback from any Insurance Company is a pipe dream.

If the other driver’s Ins. Co. Is going to play games, then you turn around and politely say “Your insured was DRUNK and almost killed me - I’ll let my lawyer figure out fair value for the car and my pain/suffering”.

—-

Now, it’s an unfortunate event you’ve been in for sure. However, please take this advice if you’re going to do up another vehicle - and anyone else reading who has a large sum of $$$$ tied up in their S550 OR ANY other vehicle…

Get an AGREED VALUE policy the next time around if adding substantial amount of mods or $$$ to a cookie cut off the production line vehicle. An Agreed Vakie policy means you and the Ins. Co. agree that the vehicle is worth $X which is the base cost of the vehicle AND any mods OR a fair evaluation of the vehicle if it is low production, rare, classic, antique or what some think of as an “investment”. The Agreed Value will be in black and white in the Policy Declaration Pages. This means IF or WHEN there is a total loss claim, you will be paid that Agreed Value - nothing more and more importantly, nothing less. There will not be any “haggling” between you and the Ins. Co. as to what is fair or what you should be paid.

Im telling you all this - we see it time and time again here (and on many other similar enthusiast sites) where a good car with a decent amount of $$$ mods tied up in it gets totaled and the owner has to fight and prove vehicle worth just for the base “VIN” value and then any mods they had tied up in it…. and many times the owner does not come out on top… GET an AGREED VALUE policy for those that have such a vehicle and do not have such a policy now.

 

[Bigred911s]

If the drunk dudes was Progressive good luck. They are terrible. Are you sure you weren’t injured when struck by the drunk driver and need a lawyer???

 

[Jstang23]

Best advice, get a lawyer, end of story. You'll get at least twice that from pain/suffering.

 

[K4fxd]

Best advice, get a lawyer, end of story.

When I got ran over by a drunk his insurance paid for my motorcycle and all mods at current prices. They are required to make you whole.

Remember lawyers fee's are negotiable.

 

[ORRadtech]

When I got ran over by a drunk his insurance paid for my motorcycle and all mods at current prices. They are required to make you whole.

Remember lawyers fee's are negotiable.

They may be required to make you whole but that doesn't mean they won't try to pay you as little as absolutely possible. Nor does it take into account the disruption of your life through their clients negligence.

Wouldn't a good lawyer make the defense pay his fees?

 

[Jstang23]

When I got ran over by a drunk his insurance paid for my motorcycle and all mods at current prices. They are required to make you whole.

Remember lawyers fee's are negotiable.

Just because they are required doesn't mean they do it. Lawyer will solve all problems and more. Lawyers fees are usually covered by looser of the suit.

 

[Cobra Jet]

When I got ran over by a drunk his insurance paid for my motorcycle and all mods at current prices. They are required to make you whole.

Remember lawyers fee's are negotiable.

Did they pay for any incurred medical or health related issues to you from the accident too - or did they pad all the materialistic stuff so you wouldn’t pursue a suit against their client. Just asking out of curiosity because full retail payout isn’t normal unless there’s other negation involved to have less of an impact on them or their client.

 

[K4fxd]

Wouldn't a good lawyer make the defense pay his fees?

Sometimes you end up at limits of coverage. At that point you have to sue the individual and or use your un/underinsured coverage.

Did they pay for any incurred medical or health related issues to you from the accident too -

The payout exceeded his coverage limits. He was a practicing drunk with nothing.

I got 2 checks, one was for the motorcycle which was enough to replace it with the same model and year along with all my mods. Which were extensive. The 2nd check was for medical, loss of income ect.. This check was reduced 10% for lawyers fee's

No his coverage did not cover all the expenses and my under insured was not enough either so I got that full amount as well, also reduced by 10%. This payment was combined with the 2nd check. Actual payment went to the lawyer and he cut me the payout. The vehicle check I picked up at a regional office of the paying company.

 

[K4fxd]

The biggest crime here was my wife lost her leg and the drunk only got 6 months in jail. Although he died of liver failure many years ago, so there is that.

Wow, bad memories.

 

[Torched10]

The biggest crime here was my wife lost her leg and the drunk only got 6 months in jail. Although he died of liver failure many years ago, so there is that.

Wow, bad memories.

Get your self a good lawyer herscs link for 10 million settlement for amputated leg

https://www.blockotoole.com/verdicts-settlements/9-950-000-settlement-for-client-struck-by-van/ gt500

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