Re: [DMCForum] insurance
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Re: [DMCForum] insurance
- From: "Walter Coe" <Whalt@xxxxxxx>
- Date: Thu, 7 Oct 2004 10:55:38 -0400
I know of two cases of wrecked DeLoreans in Florida over the
past 2 or 3 years. I dont remember the names of the
insurance companies. Both situations resulted in the owner
buying back the car.
Case 1)
Owner kept car with title untouched. This was negotiated
upfront as part of the settlement. Owner was a crafty
difficult-type person. ;-) The accident was not the owner's
fault. Owner restored the car.
Case 2)
Owner wimped out and gave title to insurance company. He
bought the car back for around $2500 (actually receiving
that much less money in the settlement) and received a
salvage title issued in the name of the insurance company.
This is basically non-transferable without having the
insurance company sign it over. They did not. They just
gave the guy their new salvage title as issued by Florida.
The accident was the owner's fault, so he did not feel
justified in being aggressive. I bought the car; and
unfortunately, parts are popping off of it like they are
spring-loaded. I really wanted to restore the car, but
there several local people (including myself) who are
putting the parts to good use.
My advise is to tell the insurance company upfront that you
intend to restore the car, and you cannot do that with a
salvage title in Florida. Tell them that these cars are
built like kit cars in a modular fashion. You can restore
the car by replacing some parts and cleaning others. The
VIN plates are as much of a replaceable part as any other
part of the car (yet this opens a can of worms concerning
fraud). Tell them that you need to start with an unmolested
title so that you can turn your collection of parts back
into a drivable car.
Walt
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