by Guest » Thu Apr 25, 2013 10:33 am
I have an 03 f-350 superduty with 220k miles and someone vandalized it. They broke 3 Windows flattened 3 tires and put sugar in fuel tank. So after a month or two at body shop of the insurance co 's choice they decide to total it out and blue book value on the truck is $14,500 and the truck just got a completely rebuilt diesel engine with less than a 1000 miles on it and I have receipts totaling $10,000 for the rebuild and these people never even came and looked at the truck. they just had pics taken by body shop and they look bad, but the truck just got they shot beat out of it and the tires had all been stabbed! And they sent me a check for $6,500 and $3,200 went to pay off loan and $1,700 went to buy the truck back with salvage title. So that left me $1,400 to replace my $14,500 2003 f-350!!!! How does that seem right and fair ?
Posted: Thu Apr 25, 2013 12:45 pm Post Subject:
How do you know your vehicle is worth $14,500? If you are adding $10,000 you spend on the engine to the book value, you'd be incorrect. Did you review the carriers information on how they arrived at their value to see if it was correct? Did they consider the rebuilt engine?
A rebuilt engine is not going to add the same amount to the value as the cost of the engine. It might bump it up 25% or so.
Posted: Tue Apr 30, 2013 07:00 pm Post Subject: grange insurance
No I went to a local used car dealerships had one identical to mine sitting there it wasn't quite as good of shape but it was13,500and I looked through the online classifieds and Kelly blue book and I was going to refinance the truck to pay for the engine a few months before and the bank had someone come look at it and they said they was gonna refinance it for $15,300 so I didn't even factor in the cost of the new engine into the value of the truck. I have had insurance with this same agent For 15 yr three chemicals and my house and have paid them $350 a month that is around $270,000 that I have given them without claiming not even one single claim on it, and they turn around and pull anything like this! It's like I just paid $20,000 in 5 yrs for this truck and I might as well just gave it to charity or something cause I have not a single thing to show for that $20,000 except a beat up truck with a salvage title that they didn't even give me snuff money to fix! Go grange insurance!
Posted: Tue Apr 30, 2013 07:03 pm Post Subject:
Oops 15 yrs and 3 vehicles and a house. Sorry Damn spell checker !
Posted: Wed May 01, 2013 02:02 am Post Subject:
So what about the questions in my post?
What other coverage you have does not make any difference.
Posted: Wed May 01, 2013 11:09 am Post Subject:
Oh shit sorry, I thought you asked how I arrived at that value. I asked them why they only gave me $6,500 for it and they said they don't go by blue book value they use there own appraisal people to get their value and he said they used pictures that the body shop that they picked took pictures of it and they said it looked like it was in poor shape! Yeah that's why it was there it just got vandalized and it had been sitting for several months prior to this, outside gettin engine replaced and it was filthy. so they said it looked bad , they didn't send nobody to look at it or anything. And I never even mentioned the cost of the engine cause I didn't know they was gonna total it out. They called me two months later and said how much do you owe and who do you owe it to, and said you can buy it back for $1,700 and we will send you a check for the balance cause the vehicle is not worth repairing they ain't discussing it any further. They won't let me pick where I get the estimate on the repairs but they can pick where they get the appraisal from. That don't seem right.
Posted: Wed May 01, 2013 12:53 pm Post Subject:
You need to ask for and obtain their valuation (paperwork or where they obtained their numbers from). You need to check this information to make sure it's correct (did they consider options on the vehicle, you need to send them paperwork on the rebuilt engine, etc). You can also send them documentation on what you feel is the correct value. Point out to them that the vehicle looked to be in poor condition as it had been vandalized and ask them how they would know what condition is was before this.
You can pick where you obtain an estimate from. It's your vehicle... you can do with it as you please. I think you best bet at this point is to get them to increase the value to a point where they can pay for repairs on the truck.
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