Total loss payout examples?

[Cory S]

Similar to mine but I was going slower. I no lift shifted 1-2 and blew the tires off so hard I couldnt recover, I hit a pole head at around 45 mph and it fell on top of my car. No injuries for me since it was head on and I braced well and wasnt going as fast thankfully.



Good luck with recovery, very lucky to have come out of that one.

After my accident Ive always left stability control on in the mustang

I remember you showing that. Insane as well. Amazing what we can survive these days. My upper body is yellow and purple in a dozen places, but not one bone broken or severe laceration. Severe pulled muscles, banged up elbows and wrists. Airbags and seatbelt kept me still as possible apparently. Except my arms. I think they whacked everything during the tumble impacts.

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[Andy13186]

I remember you showing that. Insane as well. Amazing what we can survive these days. My upper body is yellow and purple in a dozen places, but not one bone broken or severe laceration. Severe pulled muscles, banged up elbows and wrists. Airbags and seatbelt kept me still as possible apparently. Except my arms. I think they whacked everything during the tumble impacts.

This is one reason why I wont buy a classic car. The safety level of current cars is lightyears ahead of the classics. This would easily be fatal in a classic mustang or even foxbody. ABS, stability control, airbags, better seatbelts, crumple zones, stronger roof construction, stronger during side impacts, etc etc

 

[Cobra Jet]

@Cory S

Whoa.

Damn.

Sorry to see/hear about it Cory!!! So glad you're here and able to post though, I mean that's a nasty wreck for certain!

Glad you're ok (as ok as can be coming away from something like that!).

Ok, so if the ride had mods - the best thing I can offer is this:
Tally up your mods in an Excel file using current retail prices. If you have receipts for anything, make a note of that next to the item row.

Look online for similar S550's that are in the same exact condition with similar options and miles that yours had before the accident. Take at least 5-10 of them and print out the sites you found them on. Tally up the 5 or 10 and get an average RETAIL value. Keep that in mind but do NOT submit.

Submit the highest S550 retail value you saw out of the 10, the mod value list and any images you had of your vehicle inside and out before the wreck to your insurance adjuster. You tell them you want the combined value of the mods and vehicle.

DO NOT ACCEPT any 1st, 2nd or 3rd payout offers. Make sure you only accept what YOU feel comfortable with accepting and what is fair $$ to YOU. Remember that average value you calculated - is the Adjuster way below? If so, do not accept until they come to an offer that is totally acceptable to YOU.

The Insurance Companies do not use "blue book", they use Black Book values. They also deal with ACV for payouts where the owner also wishes to keep the car which results the Adjuster deducting essentially scrap value from the agreed payout. You'll end up with the balance of the original payout plus the vehicle. Obviously with your wreck, you're most likely not interested in that option at all.

Here is the Black Book value link - plug your VIN:
http://www.blackbookportals.com/bb/...olesale=True&showretail=True&showtradein=True

After plugging VIN you may have the option to select other features the car was built with; that end value is what the car is worth today to Banks, Lenders and the Ins. Industry.

"Blue Book", "NADA", "Edmunds", etc. it's all garbage values to make consumers feel good...

 

[RagmopInKona]

Car played pinball off of few trees in the woods.
Wheelspin at shift. Veered straight into the woods instantly at 70-75mph.

Ouch. Glad you are ok ,pinball,wizard.

 

[RagmopInKona]

This is one reason why I wont buy a classic car. The safety level of current cars is lightyears ahead of the classics. This would easily be fatal in a classic mustang or even foxbody. ABS, stability control, airbags, better seatbelts, crumple zones, stronger roof construction, stronger during side impacts, etc etc

Classic cars are fine, live rear axles are more forgiving when you lose traction, unlike irs that one wheel might get some and the other still nothing and both wheels running in different angles,planes. Classics also didn't have the gearing and short stiff sidewall that once you get wheel speed up it hard to stop it. Tall sidewalls hurt handling but will recover faster from loss of traction than stiff short sidewalls .
You also drive knowing their limits. This was a freak wreck. Most classic muscle get taken out from morons showing off that have no clue on how to control them. Aka more money than brains, although the same can be said for the cars nad coffee crowd catchers leaving in late models .

 

[Andy13186]

Classic cars are fine, live rear axles are more forgiving when you lose traction, unlike irs that one wheel might get some and the other still nothing and both wheels running in different angles,planes. Classics also didn't have the gearing and short stiff sidewall that once you get wheel speed up it hard to stop it. Tall sidewalls hurt handling but will recover faster from loss of traction than stiff short sidewalls .
You also drive knowing their limits. This was a freak wreck. Most classic muscle get taken out from morons showing off that have no clue on how to control them. Aka more money than brains, although the same can be said for the cars nad coffee crowd catchers leaving in late models .

I've had multiple cars without ABS. (1987 mercury grand marquis and 1999 maxima) I've had multiple cars with live rear ends. (2003 gt 2011 gt) Classic cars are not even close to as controllable or as safe as modern vehicles if you are in the right mode.

 

[RagmopInKona]

I've had multiple cars without ABS. (1987 mercury grand marquis and 1999 maxima) I've had multiple cars with live rear ends. (2003 gt 2011 gt) Classic cars are not even close to as controllable or as safe as modern vehicles if you are in the right mode.

Whatever you say. The fact that you bring up nannie controls abs , tells me all I need to know about the skill level in the seat .

 

[Biggus Dickus]

I'm glad we are reading your posts and not reading a post about you. That said - you are down one feline life. Spend the rest wisely

 

[sirben711]

My car was totaled a in 2021. I don't want to promise too much - but I was paid more than what I bought the car for, though, it was completely stock.

Whomever the insurance is - they will try to find cars that are "equal" to yours. But you need to fight them on that. They will pick cars that are out of your region for comparison. Its a good idea to give them options more local to you - however, they will push back on that saying "that dealer value, not private seller value" Basically, insurance doesn't want to use a dealer mark up for an equitant price. Its all BS. Just fight them as much as you can, insist that you had no plans on selling the car. I hope, because you took care of your car and because of how crazy prices still are, you can get most, if not all of it back.

 

[Cory S]

My car was totaled a in 2021. I don't want to promise too much - but I was paid more than what I bought the car for, though, it was completely stock.

Whomever the insurance is - they will try to find cars that are "equal" to yours. But you need to fight them on that. They will pick cars that are out of your region for comparison. Its a good idea to give them options more local to you - however, they will push back on that saying "that dealer value, not private seller value" Basically, insurance doesn't want to use a dealer mark up for an equitant price. Its all BS. Just fight them as much as you can, insist that you had no plans on selling the car. I hope, because you took care of your car and because of how crazy prices still are, you can get most, if not all of it back.

Yeah, I’m not concerned about the regions values because generally they sell for MORE outside my region. I have all the values with options from many sources and the dealer/insurance black boom value. Also have 10 similar examples saved. I bought the car when the markets were rock bottom tanked late 2019. Basically, the current range for a 2016 GT Premium with almost every option @ 27K miles, is $29,900-34,000.00.

 

[Inthehighdesert]

One thing you may consider in the future when you do get back in to it is using Haggerty or Grundy for a stated value policy. As long as you have another vehicle that can be stated as a daily driver theyll write it. Many don’t realize theyll write gt’s just like newer shelbys and classics. You may be aware of this but I thought I’d throw it out there any way. It does eliminate the uncertainty when these unfortunate scenario’s come up. What’s most important is your still here, the rest will work itself out.

Yeah, I’m not concerned about the regions values because generally they sell for MORE outside my region. I have all the values with options from many sources and the dealer/insurance black boom value. Also have 10 similar examples saved. I bought the car when the markets were rock bottom tanked late 2019. Basically, the current range for a 2016 GT Premium with almost every option @ 27K miles, is $29,900-34,000.00.

 

[Strokerswild]

One thing you may consider in the future when you do get back in to it is using Haggerty or Grundy for a stated value policy. As long as you have another vehicle that can be stated as a daily driver theyll write it. Many don’t realize theyll write gt’s just like newer shelbys and classics. You may be aware of this but I thought I’d throw it out there any way. It does eliminate the uncertainty when these unfortunate scenario’s come up. What’s most important is your still here, the rest will work itself out.

This.

I have my lowly '15 GT insured through Hagerty with a stated value of more than I originally paid for it. And it's cheaper than my carrier that covers the daily drivers by a long shot.

 

[Cory S]

I negotiated the total loss payout to $33,970. Not bad considering I paid $25,000 for the car almost 4 years ago. They also sent me a direct deposit for any medical/ambulance costs for $5000.00. They were very fair.

 

[furdfan2018]

I negotiated the total loss payout to $33,970. Not bad considering I paid $25,000 for the car almost 4 years ago. They also sent me a direct deposit for any medical/ambulance costs for $5000.00. They were very fair.

Congratulations on the payout, seems very very fair.

More importantly, glad youre ok. Everyone I talk to about my mustang I warn them that at these power levels these cars are NOT safe on the street.

I know I sound like a boomer, but the rate with which my car (and Im certain yours as well) builds speed is absurd and unless you are almost the ONLY person on the road, you must drive these beasts with caution.

Hug your family chief, you burned up one of your 9 lives.

 

[Cory S]

Congratulations on the payout, seems very very fair.

More importantly, glad youre ok. Everyone I talk to about my mustang I warn them that at these power levels these cars are NOT safe on the street.

I know I sound like a boomer, but the rate with which my car (and Im certain yours as well) builds speed is absurd and unless you are almost the ONLY person on the road, you must drive these beasts with caution.

Hug your family chief, you burned up one of your 9 lives.

All 100% on point and correct.

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