I had some trouble with an insurance company a few years ago about a real estate claim. I just hired a "public adjuster" to deal with the situation. I never knew they existed, but essentially, they negotiate with the insurance company for a settlement and they create a bill of parts for replacement far exceeding the value of the property. I understand that they may exist for autos as well.
We were willing to just take the original payout until the ins co started cutting into it and "nickle-and-diming" us to death, to the point where we could not afford to repair the property.
FWIW, there was a 84ish 300SD recently offered for sale near here for $25k+ (if i remember correctly) and it was an outstanding car, too. So I wouldn't abandon "ship." ;-)
From: n61cm <jim@tazwade.com>
To: diesel_mercedes@yahoogroups.com
Sent: Friday, February 24, 2012 2:44 PM
Subject: [diesel_mercedes] Re: Fair market value for an old diesel
You might be able to collect on a negotiated totaled value and then buy the car back from them for a few hundred bucks and fix it on your own. What part of Virginia are you in? I know some guys down in the Roanoke area who will do those kinds of repairs good and cheap (but not fast LOL).
Jim
--- In diesel_mercedes@yahoogroups.com, "mahatmakanejeeves" <mahatmakanejeeves@...> wrote:
>
> Dear all:
>
> My insurance company determined my 1991 350SD is totalled following an encounter with a deer. Body damage is limited to the hood, grill, and driver's side headlight. Airbags are intact. All the assorted heat exchangers were damaged, which is the big cost to repair. As for the deer, well she didn't suffer after the 60 mph impact.
>
> The Virginia dealership I towed it to estimates $12K to repair. GEICO says its market value is $4.2K. That seems like a lowball figure to me. The NADA website says an "outstanding" example is worth $11K. Mine is a two-owner car with 100% books and records. No deferred maintenance and no amateurs worked on the car. Paint & interior 100%. I verified from dealer records the PO had the "excessive oil consumption" repair on the 350 motor and confirmed it with a compression test at purchase 11 years ago. Mileage at time of accident was 201K. I think it easily falls in the outstanding category.
>
> Anyway, to get to the point, can folks give me pointers on how to better establish FMV on a rare car with an insurance company? When I get to missing my SD, I have to remind myself it's an inanimate object.
>
> Thanks,
>
> MKJ
>
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