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 Posted: Fri Aug 15, 2008 6:42 pm Post subject: Can someone please help I’m having a problem with my carrier |
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Can someone pleases help I'm having a problem with my insurance company
I own a 2003 GMC Yukon denali XL, with custom 23” rim and duel 12” headrest DVD entertainment system, the KBB value at the time of lost was retail: $20,053 without the entertainment system and rims, current value is $18500, geico offered $13500..
I've read the other postings on this blog and have check local dealerships within 10miles of my zip code for similar trucks. what I found was that there were only 3 denali xl for sale locally and 2 of them where around last November when I purchased my denali, these truck where in very bad condition and I never gave them a second look. I instead traveled 300 miles to road island and purchased a truck with twice the mileage but was very well maintained for the same price..
-Question1: can someone please let me know the fair CCC:
2003 GMC Yukon Denali
Miles: 160,000
my zip 10469
date of lose 7/6/08
options
Air Conditioning, Power Steering, Power Windows, Power Door Locks, Tilt Wheel, Cruise Control, AM/FM Stereo, Cassette, Multi Compact Disc, Premium Sound, OnStar, Dual Front Air Bags, ABS (4-Wheel), Leather, Dual Power Seats , Third Seat, Roof Rack, Privacy Glass, Rear Air, DVD System, F&R Side Air Bags, Traction Control, Running Boards, Towing Pkg,
Oversize Wheels 20"+
mint condition no scratches, dents, dings or mechanical flows. This truck was very well maintained I spent over 3k on preventive maintenance since purchase, and over 5k on accessories which was installed before i insured the vehicle I also have tones of detailed photographs and videos showing vehicle condition less than a month before it was stolen.
I was very proud of my truck
-Question2: my adjuster called me and said that my $5000 rims pulse tires is considered a personal item and is only covered up to $200, I've never heard of rims and tires being considered as a personal item and not a part of the truck. How do I respond to this? |
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ChanelM
New member
Joined: 15 Aug 2008
Posts: 10
Location: New York
4.34 Dollars($)
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| Posted: Fri Aug 15, 2008 8:11 pm Post subject: |
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| Insurance companies usually have limits on accessories such as stereos, rims etc. Some policies do not cover any accessories and some like 21st Century include up to $1000 in the basic policy. To insure expensive accessories you will need to purchase an endorsement. The premium you pay for insurance is calculated on a stock unmodified vehicle. |
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900500
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Joined: 06 Aug 2008
Posts: 28
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| Posted: Fri Aug 15, 2008 9:15 pm Post subject: |
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We've got a double post going on here, Chanel I'm going to move all the other posts to this thread...
_________________
"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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Lori
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Joined: 10 Sep 2007
Posts: 8173
Location: Missouri
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| Posted: Fri Aug 15, 2008 10:35 pm Post subject: |
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I think 900500 hit the nail on the head. It sounds like your carriers policy places limits on aftermarket parts.
I'd recommend obtaining a copy of the CCC and reviewing it. I've said it before and I'll say it again, you need to make sure the correct information is being considered. Also, with what you mentioned, they might be considering the vehicle you mentioned that were in bad shape. CCC seldom has good knowledge about the conditions of the vehicles in their list. They will have in-depth info on 2-3 vehicles from their list. Feel free to call those places and ask them if they could tell you what condition those vehicles were in. If they were not in good condition, call your carrier and let them know. Your carrier can ask CCC to perform a manual search and expand the search area as well. I find that they give much better results this way. |
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tcope
Forum Expert
Joined: 22 Nov 2006
Posts: 5193
Location: Salt Lake City, UT
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| Posted: Sat Aug 16, 2008 6:29 am Post subject: |
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Well, i think we need to understand that insurance companies attach very little rather no importance to the accessories attached to the vehicle at the time of determining the ACV. Hence, they may not influence the ACV of the car by a huge margin.
I hope re-reading the policy document may help you to understand your insurer's approach towards these items. |
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JeremyHolter
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Joined: 06 Jun 2007
Posts: 1194
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