RE: [DML] Owners vs. The Insurance Companies

["Joe Thome" <joethome@xxxx>]

I would imagine that if you can show evidence your car is worth more
than they want to give you, the threat of a suit will get them to be
more fair about it and if not then file a suit and see how fast they
come around. Of course going to court will cost money too. 

> Hi all,

> I've seen a few posts in the last 6 months regarding members who've
> had the bad fortune to have their DeLoreans totalled out in accidents.
>
> The most recent post by "bepositive" detailing how his insurance
> company is shafting him has prompted me to do a little research.
> For some of us, getting insurance at all is very difficult, but
> paying for insurance that won't pay you for your wrecked car is worse
> than having no insurance at all.
>
> First, after calling Safeco, State Farm and Allstate, I found they
> all say they will pay "fair market value". When pressed on where they
> obtain that data from, they all faltered and refused to provide me
> with a concrete answer. They have no idea what "fair market value"
> for a DeLorean is because the market is tiny.
> 
> My insurance company, (Safeco) did state that they would honor a
> written, signed, appraisal by an auto dealer, antique dealer, or from
> the DeLorean vendors/service centers. They will then adjust my
> premium accordingly vs. just pluggin in a VIN number and going with
> the default value in their computers. As you can imagine, the default
> value is tied to the VIN which shows the age of the vehicle so the
> payout probably wouldn't be the worth of the vehicle. All they see is
> a 20+ year old car.
>
> Many of us do our own maintenance and repairs. I want us all to get
> fair value for our collector's cars, our time, sweat and parts.
> Unfortunately, many of us aren't "professional collectors" and don't
> know all the in's and out's of insurance companies.
> 
> For those of us who aren't savvy, I urge you to contact your>:
> insurance companies and find out exactly what happens if your car is
> totalled. Get names and times. Press them. Be a jerk. Don't let them
> waver. If they sound uncertain, tell them you have their name and
> you're holding them to it. Talk to a supervisor, whatever it takes.
>
> Insurance co's are in the business of making money, not paying it out.
>
> Respectfully,
>
> Rich Acuti
> #5335