Re: Questions about insurance claims...

[human <human@nh.ultranet.com>]

-- [ From: human * EMC.Ver #2.5.02 ] --

> mint-condition '87 4kq was totalled last week ... the person who pulled
out in front of him has >Farmers as his insurance company and they're
claiming this car (with service history and only 52k >on it) is worth $4,100
.  He says the adjuster told him there is no negotiation possible and the
>salvage will cost him $900...

OK - 1. it's not his ins. co., they don't care about him.  2.  That's
probably all the car is worth (Nomex on) face it!  It's an expensive to fix,
slow (add Kevlar!), complex car that is 9 years old, the model is no longer
made, and there is not a *lot* of support for the brand in the U.S.

My adjuster told me last week my 82 coupe was worth $1475.  I paid $2300 for
it 3 years ago exactly.  Of course it's not mint (but it is tight and well
maintained) and it has 215000 on it now.  (145000 then)  The insurance co.
is supposed to be mailing me $1075.00 and I keep the car - I complaineth not
.  (* see next post for more info on  this saga) These are cars that are
cheap to buy and expensive to maintain, unless you are a mechanic.

By the way,... please accept my condolences.  Having one's beautiful 4kq
trashed by some fool must be a terrible experience.  The $$$ are so
meaningless when your baby is gone.

>Since I've successfully dealt with insurance companies before, he called
and asked my advice about >what to do ... obviously, hiring a lawyer is
something to consider but he needs to replace the car >ASAP so he doesn't
have the time to wait while letters and phone calls are traded back-and-
forth.  In >all the cases where I've had to deal with insurance companies,
I've never been given the "take it or >leave it" line that he was.

You can't be in a hurry *and* get the best deal.  I believe there is an
inverse square or even cube  law at work here.  1st he should call *his*
insurance company second he should call a lawyer - but only if he (we) can
justify a higher value for the car.  $900 seems a bit high for the salvage,
too.  But what actually happened to the car?

>Lastly, what would his car be worth elsewhere in the country.  Here in AZ,
I have found that 1) >quattros don't sell very well, period; 2) rarely sell
for much of a premium as compared to a FWD >Audi; and 3) are so rare,
finding any comparable sales to establish value is difficult.

>From the Boston area "WantAdvertiser": 
2 87 coupes for $2700.  
85 4kq 156k $2500
86 4kq 140k $2350
88 80q        $6000
86 5kcstq 123k, "exc cond" $4500
87 5kqt 184k leather, wood, $5000

The mileage seems to be the key here, but how much is his low mileage
actually worth?  I seem to remember working out book values before where
really high miles, ie 150-200k, only take a couple of hundred dollars off
the value of the car.  Is it a an Arizona car?  *No* rust?  Try advertising
it at more $ in the Northeast and see if you get any bites.  is it worth
$7000.00?  No.  $6000.00?  probably not.  $5000.00?  Maybe.  

I wish I could spread more sunshine, but, reality is the check here. 
Someone mentioned a while ago the difficulty of proving the value of Urq's
from the 80's in insurance situations, and I remember adjusting my attitude
accordingly - that I was driving an old car, that no one else really wants
to pay big $$ for.  Question - if one does own a high "intrinsic" value car,
ie low miles, clean, but not to be an antique for many years, how does one
insure one's investment?  a rider on your own policy?  Any insurance people
out there on the list that can answer that?

Whew!

Wish I could have helped more.
--
Huw Powell


82ish Coupe (resurrection imminent)
73 F250 "rust never sleeps"

Outstanding in their field:
80 5k, 81 5kt, 87 5ks (royal blood)

HUMAN Speakers
7 Kelsey Road
Lee NH 03824

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