My car caught on fire tonight....
11-04-08, 08:43 AM
#47
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Sorry for your misfortune Jeff.
Listen to this guy Jeff, because this is exactly how it works. I will also hope for scenario number one. Hope they total it and you can buy it back for a cheap price.
Later, Jose
Later, Jose
Jeff,
Man that sucks about the fire, glad everyone is OK though !
Insurance wise it kinda depends on a couple of things.
1. what kind of coverage you carry.
2. do you own the car or have a lien/loan on it ?
3. your receipt records of what is in the car.
4. insurance company
There are basically 2 scenarios:
ONE: You own the car and take it to a dealer for an estimate. They TOTAL the car. You can then 'buy back' your totalled car from from the insurance company for 10-20% of the totalled value. Insurance will give you a check for whatever value they assign to the GS and you pay them out of pocket for the 'buy back'. So if they assess the car to be $10,000 (for the sake of argument) and their buyback is 20% of the value. Then you would get a $10K check from insurance and would pay them $2000 for the car. NOTE: your car title WILL change to a salvage title.
TWO: Like others have said in this thread you find a 'friendly' shop who will estimate the work for a low amount so insurance does NOT total the vehicle. You tell insurance you are using shop XYZ and turn in the estimate. If you own the car (no loans left on it) you can have them send the check to you and then go off and fix it yourself. If you still have a lien out they will ONLY pay the shop directly ... now you could negotiate with 'friendly' shop XYZ and get them to give you a rebate check (i.e. give them the paint/body work portion of the job then pay you out for the mechanical portion of the estimate) Then upside of this method is your title doesn't become a salvage title.
Man that sucks about the fire, glad everyone is OK though !
Insurance wise it kinda depends on a couple of things.
1. what kind of coverage you carry.
2. do you own the car or have a lien/loan on it ?
3. your receipt records of what is in the car.
4. insurance company
There are basically 2 scenarios:
ONE: You own the car and take it to a dealer for an estimate. They TOTAL the car. You can then 'buy back' your totalled car from from the insurance company for 10-20% of the totalled value. Insurance will give you a check for whatever value they assign to the GS and you pay them out of pocket for the 'buy back'. So if they assess the car to be $10,000 (for the sake of argument) and their buyback is 20% of the value. Then you would get a $10K check from insurance and would pay them $2000 for the car. NOTE: your car title WILL change to a salvage title.
TWO: Like others have said in this thread you find a 'friendly' shop who will estimate the work for a low amount so insurance does NOT total the vehicle. You tell insurance you are using shop XYZ and turn in the estimate. If you own the car (no loans left on it) you can have them send the check to you and then go off and fix it yourself. If you still have a lien out they will ONLY pay the shop directly ... now you could negotiate with 'friendly' shop XYZ and get them to give you a rebate check (i.e. give them the paint/body work portion of the job then pay you out for the mechanical portion of the estimate) Then upside of this method is your title doesn't become a salvage title.
11-04-08, 09:10 AM
#50
go through insurance Jeff. The premium won't skyrocket...especially since you have no claims. This may fall under Comprehension...not collision. Usually its collision that will drive your costs up. Think about it, if there's future electrical problems, because of this, it may be covered...
11-04-08, 09:14 AM
#51
Hot damn!
I have never felt all choked up for anyone's car.
Get your baby fixed if you can.
Go through insurance. Your rates won't go up, especially since your car wasn't moving/driving at the time of the incident. It could have been third-party arson; they can't really prove it without spending $$$ otherwise.
Good luck!
I have never felt all choked up for anyone's car.
Get your baby fixed if you can.
Go through insurance. Your rates won't go up, especially since your car wasn't moving/driving at the time of the incident. It could have been third-party arson; they can't really prove it without spending $$$ otherwise.
Good luck!
11-04-08, 09:27 AM
#53
Jeff,
If you can "stock it down" a little before an adjuster takes a look I would do so. Might be a real PITA though for you...you can't even put the stock rims/tires on because of your BBK upgrade! At least try to make the engine bay "look" a little more stock; if you are to go the insurance route. GL!
If you can "stock it down" a little before an adjuster takes a look I would do so. Might be a real PITA though for you...you can't even put the stock rims/tires on because of your BBK upgrade! At least try to make the engine bay "look" a little more stock; if you are to go the insurance route. GL!
11-04-08, 09:28 AM
#54
Lexus Test Driver
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damn jeff sorry to hear. but looks like everything can be fixed. Usually insurance companies can cover the stuff damaged if you have a receipt to it. its not a major accident where the frame is damaged; which it will not make a big claim to the insurance company. i think.... so i don't think its going to skyrocket your rates.
11-04-08, 09:29 AM
#55
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or you can get a highmilage 2jzge motor in your car remove ALL your engine mods and tell ins LOOK WHAT HAPPEND lol they total you get broke off and
DUMP the gs and get your e46 m3 and dump your motor gte motor in that
i know you told me you wanted to build something like that lol.. but if you want to keep the gs do that!!lol but realistically they might know your took the motor out lol!!
anyways good luck which ever way you go!!
11-04-08, 09:36 AM
#57
that SUCKS. just file it and see what they say and if u dont like it, just let them total it buy the car back and do whatever else u wanna do to it. LEAST YOU GOT YOUR FIRE OUT.. here is my BRAND NEW bike(bought brand new off the showroom floor back in 2005) after some lady switched lanes without seeing us and slammed another bike which then slammed into my bike as i was doing a wheelie. i ran him and his bike over and my bike hit a retaining wall....cracked gas tank open and cuaght on fire. took fire department 30 mins n by then NEW bike with 7k worth of stuff done to it was totally burned to the ground,not to mention the frame cracked and all the lovely carbon and titanuim i had was destroyed. sorry pic sucks it was on my cell phone while i was waiting for the fire department
very sorry to see this happen to you Jeff.
11-04-08, 10:11 AM
#60
Your insurance Co. can't really say much about the stuff you put in the car. Basically if it was in/on (i.e. the key factor being it was physically attached to the car) and you have a receipt to prove what it cost then they will replace it.
The performance mods you put in the car are no different than mods to the stereo system. So, if someone ripped out your aftermarket Nav unit, your insurance company would ask you for the receipts and pay you to replace the unit or if the unit is no longer made a comparable unit. The same goes for performance parts. the caveat being if you don't have a receipt for something your insurance company will ONLY pay for what the stock replacement would be. (i.e. you bought used Tien coilovers and had no receipt ... even if you had the other three mounted on the car ... depending on the adjuster they may just compensate you for a stock shock and spring).
If this is your first major claim and you are not a documented (i.e. bad driving record) speed demon then your insurance should take care of you. I was sideswiped from the right last year and hit a jersey wall with the left of the car trying to avoid the collision. The State Trooper was an A-Hole and did not note the damage to the right of the car (proving my allegation of being sideswiped). I talked to my insurance and their adjuster did make note of the damage. The insurance company, noting I had not made a claim with them ever paid the $3K bill. They even paid for the two aftermarket rims which were not made anymore to the tune of $650, I did not have receipts for them either since I bought them used. they accepted an old webpage with the specific wheel model on them and pro-rated the price. They didn't have to do that. My premiums have not gone up either. I would talk to your agent ... but if it was me I would go the insurance route unless you are trying to keep the title clean.
DaveC