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Thread: insurance help

  1. #1
    Join Date
    May 2002
    Location
    SC
    Posts
    12

    insurance help

    I have a 1995 5 speed that was hit in the rear at a red light by a f250. His insurance company says that a 1995 5 speed is no different than a standard tbird and that just because the car is a 5 speed does not make it a rare car. I would diff in that because of only 573 5 speeds made in that year. If everyone could post their views on how rare these cars are it may change their mind. Thanks

  2. #2
    Join Date
    Jul 2003
    Location
    Ottawa, Ohio
    Posts
    5,395
    Did you tell them it was just a Thunderbird with a 5 speed, did you mention it is the Super Coupe model?
    SCCoA Member#: 2515
    1990 SC AOD 2.1L Kenne Bell
    11.676 @ 121.35 mph
    506hp/478tq
    My Garage

  3. #3
    Join Date
    May 2002
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    SC
    Posts
    12
    I have told them it was an SC and showed them data from ford as for how many where made

  4. #4
    Join Date
    Oct 2004
    Location
    Charlotte, NC
    Posts
    8,159
    What you have is an exceptionally rare car.....

    His insurance company should fix or replace your SC.....

    How bad was the damage.....

    You might have to get your insurance company to sue his insurance company....

  5. #5
    Join Date
    Aug 2002
    Location
    Jersey Shore, PA
    Posts
    1,865
    Don't sign anything.

    Get in touch with your insurance company and let them know how they are trying to hose you.

    Show them the production data for your year.

    And don't settle until they fix it or give you fair market value.

  6. #6
    Join Date
    May 2002
    Location
    SC
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    12
    The damage is to the right rear quarter panel, trunk lid, bumper cover and trail light

  7. #7
    Join Date
    Oct 2009
    Location
    Spokane Wa
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    They most likely see the 5 speed as a down grade when looking it up in a estimator programe for car values.

    and they dont care that its rare. there job is to get you out of that car for the liest amount of money they can.

    like said before dont sign anything, dont settle for there offers. you need to arm your self with as many similar cars that you can find for sale and give them a wide range of prices and tell them how your car is not the lowest one you can find due to paint, interior, mods, ect anything you can get that shows what the cars are currently selling for is your best bet dealing with this.

    and if that fails thretten a lawyer on them then consult your insurance (which will most likely make your premium go up till they settle it)

    good luck man, did you get an extimate to repair the car yet?

  8. #8
    Join Date
    May 2007
    Location
    Wichita, KS
    Posts
    3,018
    looking around here gives you a clear indication of what the 95 5-speed is worth. you wouldnt be able to replace it with a clean specimen for less than 3-4k dollars. i wouldnt settle for any less than 4. buy your car back and part it, buy a replacement and swap your parts over.

  9. #9
    Join Date
    May 2002
    Location
    SC
    Posts
    12
    The car was hit almost a year ago, I have not signed anything and did show them the prices of the cars at the time of the wreck. At the time the only one I could find for sale were any where from 4000 to 10000. I did purchase a replacement for $4000.00 and told them what I had to pay to replace the car but they still do not want to give me more than $3000.00. The replacemnet cost does not include the airline ticket or the day from work to pick the replacement up

  10. #10
    Join Date
    Apr 2002
    Location
    Lakeville, MN
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    13,517
    What state are you in? That can make a difference on how the insurance company can value vehicles.

    i.e. in Minnesota, the insurance company is required to use market value, and if necessary establish the market value by identifying 3 similar vehicles current for sale in the market. I think they get to use the median price if they are all the same. Or they can use the difference to approximate the value of my car based on the options of features it has.

    In the end, you could always file with your company, have them pay you off, and then they can go after the other company.

  11. #11
    Join Date
    Oct 2009
    Location
    Spokane Wa
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    Quote Originally Posted by Mike8675309 View Post
    What state are you in? That can make a difference on how the insurance company can value vehicles.

    i.e. in Minnesota, the insurance company is required to use market value, and if necessary establish the market value by identifying 3 similar vehicles current for sale in the market. I think they get to use the median price if they are all the same. Or they can use the difference to approximate the value of my car based on the options of features it has.

    In the end, you could always file with your company, have them pay you off, and then they can go after the other company.
    i am orginally from north dakota and they do the same there. the problem is they will search all over and find a car for a few hundered dollars and one that is up in price and if you average them they come out low...

  12. #12
    Join Date
    Apr 2002
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    Lakeville, MN
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    Quote Originally Posted by 90turbo1 View Post
    i am orginally from north dakota and they do the same there. the problem is they will search all over and find a car for a few hundered dollars and one that is up in price and if you average them they come out low...
    In Minnesota that behavior wouldn't fly. They don't get to search all over and cherry pick and you have to agree to their selections as valid. that is why the state is important.

    Note also, if your insurance company wouldn't get you $4k for the car, then you had the wrong kind of insurance. Just because someone will pay $500k for a car on Barrett-Jackson doesn't mean Allstate insurance will give you any more than $500 if you wreck the car unless you arranged for special insurance.

  13. #13
    Join Date
    May 2002
    Location
    SC
    Posts
    12
    I am in South Carolina not sure what the laws are as far as how they valve the car.

  14. #14
    Join Date
    Feb 2007
    Location
    Grand Rapids, MN
    Posts
    144

    Insurance Co.-- IE organized crime

    The biggest thing to remember when dealing with them, is they are making an offer on the vehicle if it is a "total loss" -- AN OFFER! I just went threw this (also in MN) on a motorcycle I totaled out avoiding a damn deer. State Farm came up with 3 bikes they viewed as comperable, +tax & prorate on tabs and title fee - my $500 deductable... viola! Just over $1000 less then I thought the bike was worth. So I found half dozen same year, same model (06 R1) that people wanted reasonable to crazy money for. I then emailed links to these bikes, they eliminated 3 that were too far away, averaged three new with the three old and the price went up over 1200. I was quite content.

    Hope this helps and best of luck. ... And yes, plenty rare car

  15. #15
    Join Date
    Dec 2003
    Location
    Altoona IA
    Posts
    3,235
    Get your insurance company involved, a year is to long for this to be dragged out. Ask them for help and advise, they should help you out.

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