Re: Insurance company trying to screw me and my 4000Q!!

[Autobahn01@aol.com]

In a message dated 99-01-30 08:25:47 EST, VFChris@aol.com writes:

<< The estimated cost to repair my car is about $3100.  
 The trouble is, the insurance company is telling me the car is a total loss,
 because it's retail value is roughly $3000.  They don't want to fix the car.
 I assume they want to pay me their assessment of the car's value ($3000), and
 then they get to keep my car (presumable to be dismantled for parts).
 
 So, my situation is, I need to demonstrate that my car is worth more than
what
 they say it is.  Certainly, the value they quoted me is the "book" value of a
 good condition, standard 86 4000Q.  Beyond being maintained in perfect
 condition, I have made a number of customizations to the car that (arguable)
 increase the value of the car beyond the "book value."  The most significant
 of these are a custom stereo ($2000), Euro head lights ($600), and upgraded
 wheels ($1100).  I have receipts for all of this stuff.  This is just for
 materials.  I haven't even tried to assign a dollar value to my labor to make
 these modifications."
 
 Bummer! Sorry to hear about the accident, but methinks you may be barking up
the wrong tree w/this. The insurance policy you paid premiums on is based on
the avg book value of the 4000q, not your estimated value of the work/mods you
did on the car. If you wanted coverage above and beyond what book was, then
you needed a supplemental policy. The ins co is designed to limit their losses
to book, if they had more "liability" at stake, then they would like to charge
you additional premium for it. 

Believe me, I'm a huge fan of the 4000q, multiple owner myself, but I know my
"mint" '87 isn't worth much more than a beater '85 if I get creamed. The
solution for those with heavy investments in a low book car is the ins co
buyback option. You had said the damage was light/sheetmetal? Take their
buyback option of ~400, and cash the check.

Cheers,
Chris Semple
'87 4000q
   '86 4000q
       '84 4000q