Ouch, my poor Z28

[ohhawk]

The insurance carrier and type of policy one has could be a key part of how this has progressed thus far.

Very sorry to hear about this incident and hope it all will work out for you. I remember seeing this car a number of year's ago before it made it's way to TX.

[TimG]

He wrote the estimate with the prices his computer generated for parts. He said to take it to a shop that works on classic cars and have them provide a better estimate. He said they will not total the car, but he was leaning more to that when he left. I want the car to be a total. It is a never hit car, very original with one repaint. I want to hold off having my carrier get involved and see where they go. I paid $36,000 for the car one year ago, have it insured for that much and registered it with DOT for that much. I can verify the value and I'd rather have them take the car and pay me the money. If I keep the totaled car, they run the title through Texas DMV and I get a salvage title.

[Kim_Howie]

The insurance works diff in Iowa. When the car is totaled & you keep the car. You are given a check minus what you and the company agree on for salvage value. Most the time that is between 6 & 15% of the value of the car at date of loss. You keep the title. There is no salvage listed on the title. The only time it will have salvage on the title is when the Ins. co. keeps the car. They then have the state put salvage on the title.

[njsteve]

[ QUOTE ]
He wrote the estimate with the prices his computer generated for parts. He said to take it to a shop that works on classic cars and have them provide a better estimate. He said they will not total the car, but he was leaning more to that when he left. I want the car to be a total. It is a never hit car, very original with one repaint. I want to hold off having my carrier get involved and see where they go. I paid $36,000 for the car one year ago, have it insured for that much and registered it with DOT for that much. I can verify the value and I'd rather have them take the car and pay me the money. If I keep the totaled car, they run the title through Texas DMV and I get a salvage title.

[/ QUOTE ]

Tim, I see from your bio that you are in insurance sales. I don't know if your collector policy is with your own company but as a lawyer I'd offer you this info:

The stated value you have of $36,000 is with your insurance company. The girl's insurance company has no obligation whatsoever to follow that valuation. If they total it, they may end up offering you a check for $10,000 and not $36,000.

So unless you contact your insurance carrier or your lawyer there is most likely going to be a big problem.

If it was me I'd contact my insurance carrier immediately.

By the way buried in the fine print of most of the collector car policies is a requirement that you contact them within a specified period of time when a loss occurs to an insured vehicle regardless of who is at fault, under penalty of them not covering the loss at all. This is because it's their lawyers that end up suing on your behalf to recover the money if there is a discrepency in the repair price/total value. Otherwise without them being involved, the legal fees are going to come out of your wallet.

SO, PLEASE CONTACT YOUR INSURANCE CARRIER ASAP.

[SuperNovaSS]

I'd listen to Steve. They are going to find out one way or the other anyway.


Jason

[snydes]

The problem here is getting in the hands of a shop that does "good" work on classics. You take that car to any flat rate collision shop and you will have nothing but grief and disappointments no matter what the adjuster puts down.

[njsteve]

What I would do is pay to have an expert in these cars (i.e. people from some of the shops linked to this website) fly down there and do the estimates. That would be the best evidence for the repair cost. That is one of the costs that your insurance company may foot the bill for.

[Smokey]

The adjuster was doing his job. His job is to make it as smooth as possible and as cheap as possible. You got alot of great advice from Kim and Steve.

Take the 36k minus the buyback amount, give the car to your son and let him build it and have fun with it. Sure it won't be a Chev Vettfest Unrestored Gold Spinner car or a non hit virgin, but a very nice start for Jr who will love it with the same heart and love it as much as you have. He won't care about NOS Harrision stickers and the high end nickle and dime 998 point details pieces. Things that we forgot is that we became classic car snobs and want original born with everything with GM paint, and not a great restored muscle car unless if its a COPO, BM, Yenko or 1 of 29 cars.

I went through this same thing with a 63 409 car that was un-restored with its born with paint 3 year ago. I still kick myself about it so learn from our mistakes.

[Kurt S]

I agree with Kim. If the car is totalled, they pay you and you get to keep it. The title never needs to leave your possession. I just did this a few months ago.
The exception (at least in MI) is that if it's new than 8 years old, then it does get a salvage title.

[69 Post Sedan]

The key thing is to contact your insurance company like Steve advised ASAP if you haven't done so already.

If it were me I would do what Chad said, total the car for $36k. I think the norm is 10% charge to buy the car back. That gets you back into the car for $3600. Have it restored for $20k.

As far at the girl not getting a ticket...that's She pulled in front of the Z, she is at fault and it’s called "failure to yield the right away", plain and simple!

Good luck on getting this all straightened out.

Kurt