This whole issue is making me sick.....

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PostPosted: Fri Dec 19, 2008 3:32 am   Post subject: This whole issue is making me sick.....  

Had a collectable 2002 sports car in excellent condition with less than 17,000 miles, NADA shows high retail at 27,200, low retail at 16,100 on their web site with the following note:



“Low Retail Value

This vehicle would be in mechanically functional condition, needing only minor reconditioning. The exterior paint, trim, and interior would show normal wear, needing only minor reconditioning. May also be a deteriorated restoration or a very poor amateur restoration. Most usable "as-is".



Some of the vehicles in this publication could be considered "Daily Drivers" and are not valued as a classic vehicle. When determining a value for a daily driver, it is recommended that the subscriber use the low retail value.



Note: This value does not represent a "parts car".



Average Retail Value

This vehicle would be in good condition overall. It could be an older restoration or a well-maintained original vehicle. Completely operable. The exterior paint, trim, and mechanics are presentable and serviceable inside and out. A "20-footer".



High Retail Value

This vehicle would be in excellent condition overall. It could be a completely restored or an extremely well maintained original vehicle showing very minimal wear. The exterior paint, trim, and mechanics are not in need of reconditioning. The interior would be in excellent condition. Note: This value does not represent a "100 Point" or "# 1" vehicle *. . Car was in excellent condition.



While I know it would cost me close to the high retail value to replace it with one that was accident free, and with $8,000 of property damage, the frame having been bent in the accident, I would be lucky to get the $16,000, I am really out $10,000.



Can't even find a property damage lawyer in my state.



To add insult to injury the adjuster is replacing it with some used parts, just filing the spoiler that had a small chunk taken out of it with filler and then noted on their estimate phantom prior damage and deducting $130 for BETTERMENT!!!!!!!!!!



To make matters worse the guy who hit me and I both are insured with GEICO.



I could just puke!!!!



Insurance is just a big scam, lie to your face, jerk you around and bend you over. This is wrong. I was hit from behind, the loss I suffered is real, looks like I have to fight tooth and nail, pay for an independent appraisal go through a lot of aggravation just for the hope of recovering half of my real loss.



How twisted is that?!?



Too late I discovered GEICO is rank 23rd of the 50 worst insurers:



badfaithinsurance dot org / indexdetaillist DOT html



If you have a car that isn't a POS avoid the guys on the worst 50 insures and go with the guys on the top 50 list.


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PostPosted: Fri Dec 19, 2008 4:54 am   Post subject: insurance  

Please correct me if I'm wrong here..but, did the OP say 'he had minor damamge to the frame?' I'm from PA...I know a few Insurance companies and mechanics who won't even 'touch' a claim if the frame is damaged in any way. They will total the car.

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PostPosted: Fri Dec 19, 2008 6:27 am   Post subject:   

Quote:
badfaithinsurance dot org
You may not realize this but the above-mentioned site is run by injury attorneys. Also, their list is pretty much a joke. If you look hard enough you will find their explanation as to how they arrive at the list. Basically, they start with DOI complaint information which they full admit is meaningless. They then combine this information with... well, anything possible including the kitchen sink.... but of which nothing could be confirmed. You think I'm making it up? Read for yourself part of their own disclaimer:



Quote:
To determine FBIC Good Faith and Bad Faith Rankings, FBIC utilizes each of the states DOI (Department Of Insurance) complaint ratios and/or rankings as available as a beginning in a length process. DOI complaint ratios and complaint rankings alone have very little or nothing to do with "bad faith insurance" or insurance company breach of contract. If anything, DOI complaint ratios, rankings and/or indexes are misleading to the public, near completely useless and have no bad faith insurance or breach of contract validity for reasons which are addressed herein. FBIC merely utilizes state DOI complaint ratios as available as a beginning and initial first step representing one of a many steps process and extensive work involved in its methodology in determination of FBIC's Good Faith and Bad Faith ranking system.
it goes on but basically it's whenever they hear about a Bad Faith claim, they add a mark against that insurance company. Again... same problem. The larger companies are going to have more complaints. Also, are these complaints valid or not? Lastly, do these attorneys collect information from the entire US, or just in their area?



Most people think that this site is run by some independent "watch dog" organization. It's not.... it's simply one big advertisement.
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PostPosted: Fri Dec 19, 2008 12:23 pm   Post subject:   

Sick,

First (as you can see) I'm going to start a new thread with your post..



Second, What exactly is this 02 collectors car? While I don't doubt you about the condition it stretches the imagination that it is a collector (yet anyway)...is it a show car? or are you saying this isn't your 'driver' and you are keeping it to someday be a collector? Let me know the make/model and options and i'll run another value to see what i come up with...another thing..I'm not sure (i guess) what your problem is with your carrier? are you saying they should've totaled it?

Quote:
I am really out $10,000.


I don't see that much, but I guess what you are wanting is dv, does your state, (and policy) allow first party dv? It will be in your policy (especially if it's not allowed)...have you asked the adjuster about this? What have they said?
Quote:
then noted on their estimate phantom prior damage and deducting $130 for BETTERMENT!!!!!!!!!!


There can't be phantom betterment...what is the betterment for? or the prior damage, is that to the spoiler? if so what was the prior damage?
Quote:
Insurance is just a big scam, lie to your face,
honey what did they 'lie' about?
Quote:
jerk you around and bend you over. This is wrong.
I'm not fully understanding your 'issue'...what is it?
Quote:
I was hit from behind, the loss I suffered is real, looks like I have to fight tooth and nail, pay for an independent appraisal go through a lot of aggravation just for the hope of recovering half of my real loss
What do you need an independent appraiser for? What is the disputed amount? is it that you wanted it totaled? (ain't happenin') or the parts? the dv claim what? Are they repairing your vehicle under the 'other guys' policy? If so then I take back the first party dv...you would be a third party if they are paying under his policy...so dv should apply...please just spell out your exact issue and what you WANT done...



Honey you could also (I'm sure) find lists that say Gieco is in the top 20 or so...you can't use these 'types' of lists as any guide at all.. Rolling Eyes





sd, sorry but this is about as wrong as it can get...

Quote:
I know a few Insurance companies and mechanics who won't even 'touch' a claim if the frame is damaged in any way. They will total the car
Most (98% or better I'd guess) ''frame'' damage can be repaired...


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PostPosted: Sat Dec 20, 2008 10:58 pm   Post subject:   

why was my response removed or deleted?



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PostPosted: Sat Dec 20, 2008 11:35 pm   Post subject:   

I never say it, nor was an email sent when you posted. Perhaps there was a glitch and it never posted?

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PostPosted: Sun Dec 21, 2008 12:29 am   Post subject:   

I posted it originally on the wrong discussion, deleted old post but copied and pasted it to this thread, made sure it was here twice and now it's gone and wasn't placed on a new thread. oh well que sera sera.



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PostPosted: Sun Dec 21, 2008 3:30 am   Post subject: insurance  

LORI.........REALLY?? I din't know that. A friend of mine was in an accident this Winter. She hit a deer and did "medium" damage to the frame. her insurance company ( Idon't know which one, though..) 'totaled' her car. The reason?.......because her "frame was damaged." If the frame can be repaired, then why did the insurance company 'total' it?

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PostPosted: Sun Dec 21, 2008 5:06 am   Post subject:   

I'm guessing because of the cost factor. The labor cost involved in straighting a frame is extreemly high. I'm betting that the cost put the repair amount above 80% of the vehicles value.



In otherwords, it's not that it could not be done... it's that it was too expensive.



Either that or it was that 2%. Smile

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PostPosted: Sun Dec 21, 2008 5:31 am   Post subject: insurance  

Makes sense, TCOPE. I see where you're 'coming from'. Iguess it depends on the value of the car, etc. Yea..my friend's car was an older/used model.

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PostPosted: Sun Dec 21, 2008 1:40 pm   Post subject:   

Quote:
because her "frame was damaged." If the frame can be repaired, then why did the insurance company 'total' it?
If it was a car it was likely a unibody car...there are parts of the 'structure' that if damaged cannot or should not be repaired (unless minimal damage) ie the firewall as an example...But yes, I'm sure it was the total economic picture of the repair...also if it was a unibody, by the time both rails upper and lower are replace even on one side that can easily be 3k or so...







Mike, I never saw a post from you on this thread and certainly wouldn't delete one...I wasn't on all day yesterday except an hour or two in the morning..there was no post from you then..plz due post it again...must've been a glitch mike i assure you ... or someone else accidently deleted it.


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PostPosted: Sun Dec 21, 2008 2:15 pm   Post subject: insurance  

You mean 'looking OUTSIDE the box'..kind of thing. Yep...it would have cost ALOT more to fix the frame, than the car was worth. That's for sure. I 'get it'. Thanks.

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PostPosted: Tue Dec 23, 2008 1:44 am   Post subject:   

Yep we had one fixed a a mote carlo my husband was having trouble parting with. Put more money onto that dang car...glad he grew up

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PostPosted: Tue Dec 23, 2008 3:58 am   Post subject: insurance  

I use to have a '97 Baretta. I did get into a MINOR accident...nothing major. I hit a mailbox and the poll it was sitting on, while driving on a VERY snowy, icy road. Also...the car was getting to the point where I was 'nickel and diming' myself to death, just trying to keep a 'driveable' car. Finally...................I just had to get rid of it.

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