Realistic Salvage Value of this GN

[conn84gn]

Which collector Insurance company may I ask.
Was it stated as stock or modified.
None of us like to see this happen to our cars but at the same time when it happens we sure want to get a fair part of our money back.
That's why we paid the damn insurance in the first place

 

[Bweavy]

The rest of the story is forthcoming guys.

I have a pic of that car as well. Jeff sent it to me. Unless your in the business of selling the parts the car is worth $800 tops.
Don't get me wrong there is still 3K worth of parts sitting there. Rust free t-top cars are hard to find.

 

[MeanBuicks]

How did the car get 84 wheels on it??? I just wonder if there are people on this web site pulling this BULL$hit? They would almost have to be, how else do you know what parts are valuable? Have you kept your eyes peeled for parts listed on E-bay and on our TB websites? Did they catch the MOTHER FUC#Ers that did it?

Obviously someone with another Regal was involved with the theft of my GN looking at the T-wheels and the fact that they literally took everything. I and others have kept our ears to the ground regarding the parts but I believe they're pigeon-holed in a garage and being bolted into somebody's Regal around here.

 

[MeanBuicks]

This is proof that there is a difference between agreed value and stated (actual cash) value. If you keep after them they will eventually up their offer because it costs them money the more they have to deal with you. There is no way in hell that car is currently worth $2500. $1000 maybe. If you search here there are many posts related to people dealing with insurance cos. after an accident or theft. Some are successful in getting their asking price but none will ever get it on the first try. Most people say you should get after the for sale ads and autotrader etc. and find as many cars as you can similar to yours, then send them all the info you've collected. You may have to compromise a bit and give them your bottom dollar, for example tell them you'll take a check for $10k and you keep the car. It sucks that they tried to beat you down from a stated value by that much, but nearly no one actually gets their stated value. I wish you the best of luck. Don't give up 'till you get what you want.

Yeah, I knew before I created this poll that the remains of the car aren't worth anywhere near $2500. I did it to basically back up my allegation and prove my point that the 'unbiased' opinioned rendered by Stated Value Auto Appraisal Company is a steaming pile of dung.

I did just as you mentioned and complied that list of sales information early on and it was basically ignored by Nationwide and their hired guns. Basically, my adjuster, her boss the Claims Manager and his boss are all curled up in the fetal position deflecting any questions I throw their way. I will be relentless and they will either be cutting me a check for what I'm asking or they will be forced to burn up resources fighting me.

 

[MeanBuicks]

I have a pic of that car as well. Jeff sent it to me. Unless your in the business of selling the parts the car is worth $800 tops.
Don't get me wrong there is still 3K worth of parts sitting there. Rust free t-top cars are hard to find.

Correct. When they roll that thing out to auction it off, they'll be lucky to get $800 for it...idiots.

 

[wagon]

So they are saying that that pile of garbage that is left is worth almost a third of the value of the car if it was whole???? BS.


A friend of mine owns a restaurant, and they had an electrical fire. The insurance company was going to give him $40,000 less than what it cost to fix just the wiring. He said it is because the insurance companies know that people need the money, and will lowball the offer, knowing that most people will just take it because they need it to get their business going again. He was fortunate enough to have the money to wait it out. It sounds like that may be what your insurance company is doing.

 

[kenny]

Man, I know that hassle all too well.

State Farms first offer for my stolen T was $700.

Two+ months and countless phone calls/meetings later they paid $12,000.

Two weeks after buying a T to replace it (which I called to get a quote on before buying it) they dropped me claiming I had too many speeding tickets. My moving violation situation hadn't changed in probably eight months.

 

[salvageV6]

I bought my salvage car back from the insurance company for $1k.

I drove it home from the accident and never stopped driving it since.

Tell that to those idiot insurance people.

Time for you to read your policy cover to cover and get your own appraisals and check on any arbitration clauses.

It's time to put some fear back into THEM!!!

 

[SPOOLN]

Hold to your guns, don't settle easy! The insurance co wants to beat you down, since your emotions are strong. They can pay you what you feel the value of your car is. They are looking out for their best interest not yours. Wish you the best of luck.
I would rebuild that car and come back STRONGER then ever.....

 

[8UWITH6]

Ride them hard, they will pay up. Im fighting a totally different battle with my insurance company right now. Apparently in 1997 my GN was stolen, recovered, and deemed "totaled". Somehow the car got back out on the streets w/o a salvage title, but some power above did a VIN check on all State Farm claims from 1996-1998. Apparently there was some fraud going on there huh? I bought it in 2000 w/ a clean title, and have had it ever since. Last fall, Insurance sent me a letter saying that my car was a salvaged title, and they wanted to compensate me for it........ get this...... saying the car was worth 2700 dollars, and they would write me a check for 800 dollars for my "loss". A very very very long story short...... I currently have in my possession a check for nearly 13 grand. Have I cashed it? Nope, I want more if my car is going to end up with a salvage title. The cars worth (appraised) 25K now, whats it gonna be worth in another 20 years? Thats my whole arguement!!!!!!!!!!! Even though I will probably never sell the car, it still a value issue.

The point of all this rambling BS, KEEP AT THEM, THEY WILL PAY UP!!! Good luck man!!!

 

[Quiky One]

Ride them hard, they will pay up. Im fighting a totally different battle with my insurance company right now. Apparently in 1997 my GN was stolen, recovered, and deemed "totaled". Somehow the car got back out on the streets w/o a salvage title, but some power above did a VIN check on all State Farm claims from 1996-1998. Apparently there was some fraud going on there huh? I bought it in 2000 w/ a clean title, and have had it ever since. Last fall, Insurance sent me a letter saying that my car was a salvaged title, and they wanted to compensate me for it........ get this...... saying the car was worth 2700 dollars, and they would write me a check for 800 dollars for my "loss". A very very very long story short...... I currently have in my possession a check for nearly 13 grand. Have I cashed it? Nope, I want more if my car is going to end up with a salvage title. The cars worth (appraised) 25K now, whats it gonna be worth in another 20 years? Thats my whole arguement!!!!!!!!!!! Even though I will probably never sell the car, it still a value issue.

The point of all this rambling BS, KEEP AT THEM, THEY WILL PAY UP!!! Good luck man!!!

So Neil, you will get over $13k and still keep the car? So they just showed up and are going to give you money? Or did I read it wrong?

Jason

 

[8UWITH6]

After some sweating.......... (maybe it was stolen and never recovered and they might come to my house and take it back)...... it ended up it was just stolen and keyed, and the owner didnt want it anymore because the car was violated, so they totalled it. Anyway, they offered me 13K in losses in late 2005, but will make my car a salvaged title if I cash it. I just want my clean title, although the 13K is VERY tempting. My arguement is, your offering me 13K today for my loss, what about if this car is worth 50K or 100K in 20 years, and Im stuck with a car worth much less because it has a salvaged title. The whole point of the long/short story is to keep on the insurance company's ass!!! :biggrin:

They are not trying to take my car, just issue a salvaged title on it

 

[Quiky One]

After some sweating.......... (maybe it was stolen and never recovered and they might come to my house and take it back)...... it ended up it was just stolen and keyed, and the owner didnt want it anymore because the car was violated, so they totalled it. Anyway, they offered me 13K in losses in late 2005, but will make my car a salvaged title if I cash it. I just want my clean title, although the 13K is VERY tempting. My arguement is, your offering me 13K today for my loss, what about if this car is worth 50K or 100K in 20 years, and Im stuck with a car worth much less because it has a salvaged title. The whole point of the long/short story is to keep on the insurance company's ass!!! :biggrin:

They are not trying to take my car, just issue a salvaged title on it

I understand. But if you arent ever gunna sell it, then take the 13k and run like ya stole it. Anyway you can keep a clean title?

Jason

 

[Blown&Injected]

So they are saying that that pile of garbage that is left is worth almost a third of the value of the car if it was whole???? BS.


A friend of mine owns a restaurant, and they had an electrical fire. The insurance company was going to give him $40,000 less than what it cost to fix just the wiring. He said it is because the insurance companies know that people need the money, and will lowball the offer, knowing that most people will just take it because they need it to get their business going again. He was fortunate enough to have the money to wait it out. It sounds like that may be what your insurance company is doing.

I was thinking the same thing about the stated value and the salvage value. That deserves a good explanation from the insurance company

What an insult and an indignity to have your car stolen and then finding out that NATIONWIDE, your own insurance company that you have been paying money to with the understanding that the car is worth a certain amount are also no better than the damn thieves that robbed you

Ask Nationwide why they did not reduce your rates as they were reducing the pay-off value of your car. Then tell them a lawyer was telling you that you have a strong bad faith claim.

 

[MeanBuicks]

I was thinking the same thing about the stated value and the salvage value. That deserves a good explanation from the insurance company

Ha! I certaintly thought so. When I confronted both the Claims Manager and his supervisor, they both plead ignorance. They said that's the reason they hired 'experts' because this is out of the realm of their expertise. Frankly, if they honestly can't tell that $2500 is out of line, they are in the wrong line of business.

 

[acoen]

Just my .02 I would find as many nice '87 GNs on the net for sale from Hemmings, Kirban's, this site and others and print them out. There is no way the car is worth that little. With as many cars out there for sale, ask them to replace your car with another GN in similar condition, they will never find one for 8.9k. Don't give up, just keep working them the more proof you have on value, the better off you will be.