My S2000 ... totaled :(
08-19-2008, 03:46 PM
#121
Originally Posted by PrimoGen,Aug 19 2008, 11:59 AM
hey James...tell me how full of BS this statement is:
I was at todds shop this weekend discussing this very car and the situation. A kid that was there told me to just pay the 50.00 fee insurance companies charge to buy back the wreck. I called BS immedately and he protested that his boss (that owns a junkyard) and many of his friends do this all the time. He said that the insurance company simply charges a 50.00 processing fee and then just gives up the wreck (title is converted to slavage etc).. Sounds like BS to me
Is there any truth to this? if so would not people be snatching up all kinds of cars all the time for parting out purposes??
with your background...maybe you have some perspective on this seemingly ridiculously low buy back scenario....
I was at todds shop this weekend discussing this very car and the situation. A kid that was there told me to just pay the 50.00 fee insurance companies charge to buy back the wreck. I called BS immedately and he protested that his boss (that owns a junkyard) and many of his friends do this all the time. He said that the insurance company simply charges a 50.00 processing fee and then just gives up the wreck (title is converted to slavage etc).. Sounds like BS to me
Is there any truth to this? if so would not people be snatching up all kinds of cars all the time for parting out purposes??
with your background...maybe you have some perspective on this seemingly ridiculously low buy back scenario....
08-19-2008, 03:49 PM
#122
The insurance company will try to get as much as they can . I had a customer that owns a bodyshop that told me that with certain types of cars the insurance company will try to total the car at less than the amount the car should be totalled so they can sell the wreck for a profit . 
I am not sure of this either though .
I am not sure of this either though .
08-19-2008, 07:01 PM
#123
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Originally Posted by PrimoGen,Aug 19 2008, 11:59 AM
hey James...tell me how full of BS this statement is:
I was at todds shop this weekend discussing this very car and the situation. A kid that was there told me to just pay the 50.00 fee insurance companies charge to buy back the wreck. I called BS immedately and he protested that his boss (that owns a junkyard) and many of his friends do this all the time. He said that the insurance company simply charges a 50.00 processing fee and then just gives up the wreck (title is converted to slavage etc).. Sounds like BS to me
Is there any truth to this? if so would not people be snatching up all kinds of cars all the time for parting out purposes??
with your background...maybe you have some perspective on this seemingly ridiculously low buy back scenario....
I was at todds shop this weekend discussing this very car and the situation. A kid that was there told me to just pay the 50.00 fee insurance companies charge to buy back the wreck. I called BS immedately and he protested that his boss (that owns a junkyard) and many of his friends do this all the time. He said that the insurance company simply charges a 50.00 processing fee and then just gives up the wreck (title is converted to slavage etc).. Sounds like BS to me
Is there any truth to this? if so would not people be snatching up all kinds of cars all the time for parting out purposes??
with your background...maybe you have some perspective on this seemingly ridiculously low buy back scenario....
That is what most companies do. Now you do have those renegade old school adjusters that do whatever they want and will just say Ohh we will subtract $50 and you can keep it. That might be the case if it is an old beater car or something.
The are supposed to take the title and have it branded as salvage. The type of brand (certificate of destruction vs rebuildable etc.. ) depends on the damage as compared to the pre-loss value of the car. In a nutshell that is how it should work.
08-19-2008, 07:06 PM
#124
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Also, on that issue Rob.. there are situations where an insurance company may just abandon the salvage to the tow yard in exchange for waiving the storage charges and towing. That might be what is going on with that guy.
Most companies have contracts with salvage vendors that they utilize instead though.
Ok, back on topic, sorry!
Most companies have contracts with salvage vendors that they utilize instead though.
Ok, back on topic, sorry!
08-19-2008, 07:40 PM
#125
Thread Starter
Originally Posted by vvs,Aug 19 2008, 12:59 PM
Attorneys just slow the process down. Once the adjuster hears that they will just wait until they hear from someone from the attorneys office. In the meantime, you wait.. then 2 weeks later the attorneys office says hey we dont handled property damage...
If you did not retain them they will most likely want something in writing confirming that.
Why are you considering getting an attorney? They just take 20-30% of your BI settlement? You can make that claim on your own without their help.
If you did not retain them they will most likely want something in writing confirming that.
Why are you considering getting an attorney? They just take 20-30% of your BI settlement? You can make that claim on your own without their help.
I've been through this type of thing before ... unfortunately.There is no charge for the services she and her boss provide for me at this point. I have no real BI issues ... just property and 'loss of use' issues. My ex has already called them on behalf of her boss and let them know that they are NOT officially representing me in any claim ... just overseeing the process. She and her boss actually have had substantial success with handling property claims especially when the adjuster only uses a standard value estimation and not a true/real one. Also, the adjuster technically can't disregard my inquiries unless there is an official document drafted and signed by me and the attorney.
As for salvage procedures ... it can vary depending on the carrier. The formulas are being adjusted this year considering the increase in metal values. So, the percentages are increasing with carrier buy-back and salvage.
I'll continue to update this thread with the process and results. I'm going to push the issue tomorrow seeing how i have yet to hear back from the adjuster after nearly a week. I would buy another S2000 now ... but, i'm going to let the 'loss of use' accumulate for a little while
08-20-2008, 04:29 AM
#127
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Originally Posted by Bandiscoot,Aug 19 2008, 07:40 PM
My ex-wife works for a PI attorney and has been in doing this kinda thing for nearly 15 years ... so, it's not her, nor my, first 'rodeo' I've been through this type of thing before ... unfortunately.
There is no charge for the services she and her boss provide for me at this point. I have no real BI issues ... just property and 'loss of use' issues. My ex has already called them on behalf of her boss and let them know that they are NOT officially representing me in any claim ... just overseeing the process. She and her boss actually have had substantial success with handling property claims especially when the adjuster only uses a standard value estimation and not a true/real one. Also, the adjuster technically can't disregard my inquiries unless there is an official document drafted and signed by me and the attorney.
As for salvage procedures ... it can vary depending on the carrier. The formulas are being adjusted this year considering the increase in metal values. So, the percentages are increasing with carrier buy-back and salvage.
I'll continue to update this thread with the process and results. I'm going to push the issue tomorrow seeing how i have yet to hear back from the adjuster after nearly a week. I would buy another S2000 now ... but, i'm going to let the 'loss of use' accumulate for a little while
I've been through this type of thing before ... unfortunately.There is no charge for the services she and her boss provide for me at this point. I have no real BI issues ... just property and 'loss of use' issues. My ex has already called them on behalf of her boss and let them know that they are NOT officially representing me in any claim ... just overseeing the process. She and her boss actually have had substantial success with handling property claims especially when the adjuster only uses a standard value estimation and not a true/real one. Also, the adjuster technically can't disregard my inquiries unless there is an official document drafted and signed by me and the attorney.
As for salvage procedures ... it can vary depending on the carrier. The formulas are being adjusted this year considering the increase in metal values. So, the percentages are increasing with carrier buy-back and salvage.
I'll continue to update this thread with the process and results. I'm going to push the issue tomorrow seeing how i have yet to hear back from the adjuster after nearly a week. I would buy another S2000 now ... but, i'm going to let the 'loss of use' accumulate for a little while
Also, right now with the market the way it is and the lag time with NADA updating.
If they offer you NADA, take it an run. A market survey will be much lower.
Unless of course you are the one doing the survey
08-20-2008, 05:49 AM
#128
Thread Starter
Originally Posted by vvs,Aug 20 2008, 07:29 AM
That is good they will help you out like that. Always nice to know a good attorney like that
Also, right now with the market the way it is and the lag time with NADA updating.
If they offer you NADA, take it an run. A market survey will be much lower.
Unless of course you are the one doing the survey
Also, right now with the market the way it is and the lag time with NADA updating.
If they offer you NADA, take it an run. A market survey will be much lower.
Unless of course you are the one doing the survey
I have values from more than 4 different sources and will be happy to have the average. I just want to make sure that it is understood that the condition prior to the accident was exceptional. I have already prepared several friends to attest to it in a statement in case it is questioned.
I just want to be in another S2000 SOON! But, i will continue to wait for GEICO and let the storage charges and loss of use values continue to build ... it's their dime and i'll be happy to collect them for the time being
08-20-2008, 05:50 AM
#129
Bummer to read about your crash, but along with everyone else here, glad that you are ok.
My .02 = I had a crash a few years ago and the other driver had GEICO. They took care of me very generously, covered all medical bills and then gave me a very nice settlement. They were even generous with the value of my truck. I gave them a list of items that were in the truck and destroyed and they added money for that too. Anyway, good luck with getting settled.
Jason
My .02 = I had a crash a few years ago and the other driver had GEICO. They took care of me very generously, covered all medical bills and then gave me a very nice settlement. They were even generous with the value of my truck. I gave them a list of items that were in the truck and destroyed and they added money for that too. Anyway, good luck with getting settled.
Jason
08-20-2008, 06:04 AM
#130
Thread Starter
Originally Posted by paha koira,Aug 20 2008, 08:50 AM
Bummer to read about your crash, but along with everyone else here, glad that you are ok.
My .02 = I had a crash a few years ago and the other driver had GEICO. They took care of me very generously, covered all medical bills and then gave me a very nice settlement. They were even generous with the value of my truck. I gave them a list of items that were in the truck and destroyed and they added money for that too. Anyway, good luck with getting settled.
Jason
My .02 = I had a crash a few years ago and the other driver had GEICO. They took care of me very generously, covered all medical bills and then gave me a very nice settlement. They were even generous with the value of my truck. I gave them a list of items that were in the truck and destroyed and they added money for that too. Anyway, good luck with getting settled.
Jason
