Car accident

[mark0101]

So someone rear ended my 97 Mark VIII with 144K. Bumper, trunk and neon tailight is done for. They came back with an estimate of $1300 to fix it. I said bull****, lets see them find parts and fix it for that much. Dropped the car of today and 2 hours later, they said we found more damage Yeah right. Said it would take 1800 to fix it now. They are giving me 2500 for the whole car which I think is really low considering my cars condition. I am going to give them comparable and see what they say. Any thing you guys suggest?

Here are the comparable I am going to give

97 Lincoln Mark VIII with 137K for $5995

http://www.autotrader.com/cars-for-...t=[LINC[MARK8[]][]]&listingId=423490156&Log=0

97 Mark VIII with 180K for $4,000

http://www.autotrader.com/cars-for-...t=[LINC[MARK8[]][]]&listingId=438158431&Log=0

98 Lincoln Mark VIII with 180K for $3,500

http://www.autotrader.com/cars-for-...t=[LINC[MARK8[]][]]&listingId=434704368&Log=0

 

[ONLYTONY]

Insurance co's don't care what cars are selling for. Get a price from Kelly Blue Book, and NADA. I'd guess around $3000. Get a check, and buy it back for $500, and fix it.

 

[Bangster]

That sucks to hear. I have gotten twice from insurance, and didn't have to buy back the car, they didn't declare it a total loss, but they also couldn't get a shop to do the work, so they settled with me.

First time it was a 1800 dollars, front bumper cover, headlight, header panel. I was able to fix it for around 200 after some mis-steps with painting. Second was 2200 dollars, and I am still searching for a passenger door, and I would have some body damage fixed.

For some reason the insurance agent feels I can more easily get it fixed than they can, with all their work they do with shops and parts places, so they write a check to me and close it out.

 

[steve]

People can ask what ever they want it is what they get that counts. $2,500 is a fair offer, maybe you can buy it back cheap and fix it.

 

[Whtwhale]

Yep sound about right. Buddy had that hapen to his Solara which had a supercharger plus a bunch of nice work done to it in great condition. I think they gave him somewhere near $2500.

 

[biskit]

Mark0101 and anyone else... here is something to think about. I did some research because I feared the same thing could happen if I had a similar unfortunate sitch with my 95 Mark VIII LSC that I take very good care of. (Of course) I value it at considerably more than blue book, so was able to find with Progressive Insurance, a "stated value" rider on my policy once it turned 20 years old, on 1/1/15. Your 97 wouldn't have qualified, AND I believe they would have had to total it too, but a new year's resolution for you, and anyone else with a 97 may be to look into it on the first of the year. And for anyone with a 96 or older...now.

And no... I am not an insurance agent, haha.

 

[1998MarkVIII]

Good Advice biskit,
I have an agreed or stated value policy with Hagerty on my 1977 MG Midget.

When i got my Mark, I asked them if they would insure it.
They said it did not qualify because of age and number of miles i plan to drive.

Its good to know that other companies offer agreed or stated value policies.

 

[beerdog]

Do you have receipts for recent significant work. You can use that to negotiate a higher then blue book payout. I know several people who have done that. One had a Mark8.

 

[mark0101]

That is what sucks about doing work yourself. Well I got the car back with $2200. I will get a salvage title and can't drive it till I go to the DMV. They will need to get it inspected for it to be deemed roadworthy. The good thing is, I found a Mark VIII in my color with good rear bumper and trunk, so it will ok after I am done with it.

 

[steve]

Good deal