2005 Total Loss Value

[vsardine]

Last week my 2005 Med Steel Blue bird with 12,700 was broadsided by a Nissan that ran a red light at 50. Shop say car is banana'd(his word) and may be a structural loss. Vehicle hit on left side. Right door 1/4 gap is more than 1/2 inch. Walked away a little sore and really pissed.
Would like to replace it and want to know if anyone has gotten a settlement offer from an Ins. comp so I can be prepared to negotiate.
Car was perfect.
Anyone want to see pictures let me know at paulf31148@aol.com.

[rmarshal]

Re: 2005 Total Loss Value

Ouch! We're all glad you are OK! But the poor 'Bird.........

Each insurance company handles total losses differently, but I'm guessing
they will replace the loss with one of equal value. I would find an identical model suitable for you and tell your insurance company that THIS is the one you want and have them buy it for you. This happened to me once and it worked for me -- I even negotiated for them to pay sales tax.

If you can, post some photos. We all would like to know how the car's safety system worked--side airbags, etc.

OK, time to do laundry.......

[ScottyNeutron]

Re: 2005 Total Loss Value

Glad you're OK Paul. A 50MPH broadside usually brings serious injury, or worse.

[Ol'Dave]

Re: 2005 Total Loss Value

Similar experience here. Had our Brand new Specially ordered 03 Heritage Edition F-150 Totalled. Worked with the dealer, who worked with the Insurer. And we ended up leaving the dealership in a Brand New 04 F-150, that was just hitting the lots for the first time.
All we had to do was sign some paperwork, and the Dealer and the Insurance Company worked out the kinks, and any problems between them, without us having to be involved at all. Yes we lost a beautiful Truck, and endend up with the New Style. Soooo, Maybe you can do the same, it's worth the look, maybe you get a T-Bird, but I bet the new Taurus or Fusion would work well for you. Till you can find another Bird, that is. My point is, let someone else do the worrying.

I truly am sorry for your loss, but you are safe, and that's the important thing. And if your like most of us, another Bird will be in your future eventually.

[EllisonCal]

Re: 2005 Total Loss Value

Check out "www.autotrader.com" and at that site put in "any distance" from your zip code. There are 108 2005s available as of today. I saw one Med Steel Blue with 3500+ miles priced at $29,999 at a Saturn dealer in Phoenix, AZ. That would be nice!

Cal

[MATBird]

Re: 2005 Total Loss Value

Also posted on your other thread:
Paul:
Welcome to the Nest!
We spoke earlier in the week about your car. Here's a potential replacement, which may not be sold as of yet -
http://www.thunderbirdnest.com/forum...teel+blue+sale
Of course a replacement is only good if they total yours or you fix it and sell it.
George

[tbird6t4]

Re: 2005 Total Loss Value

Ouch! We're all glad you are OK! But the poor 'Bird.........

Each insurance company handles total losses differently, but I'm guessing
they will replace the loss with one of equal value. I would find an identical model suitable for you and tell your insurance company that THIS is the one you want and have them buy it for you. This happened to me once and it worked for me -- I even negotiated for them to pay sales tax.

If you can, post some photos. We all would like to know how the car's safety system worked--side airbags, etc.

OK, time to do laundry.......

Insurance companies don't replace cars, they just cut checks. You will probably find that they want to cut you the blue book value for your car and that might not be quite enough to pay for a replacement. Be prepared to stand up to them and even threaten to refer the matter to your lawyer if you don't like the deal.

Of course a lot depends on whether you are in a no-fault state also. Your insurance agent/broker should be able to help you with your insurance company too, so don't hesitate to get him/her onside right away.

Most jurisdictions also have a dispute resolution system or ombudsman on staff to assist to settle insurance claims if you run into difficulty and it seems you are at an impass. Don't let them pressure you into a quick settlement and BTW they should cover the sales taxes it is part of your insurance contract.

From my experience in the insurance business you would be better off if they do write it off rather than try to fix it once it has been banana'd.

Keep us posted on how it goes!

Good luck,

Gord R.

[Skip]

Re: 2005 Total Loss Value

I agree with Gord and others. They may not total it, but be prepared that they will. You need do the homework regarding values, what's available, etc., not the claim representative. The average CR handles hundreds of such cases annually-they all look the same to them regardless of how you feel about your car. With no injury claim (I assume), they are going to want to move this off of their case load as quickly, and cheaply, as possible. They are only going to look to the average book value, which should be retail book value, depending on the state. This may not be enough for your car. Since you can't replace it with an equivalent new model, you need to have the best available existing example that matches the mileage and condition of your car. Stand your ground. You may want to consider hiring an independent adjuster to represent your interests if you and the insurer can't agree on the value. Also, since you are the claimant in this instance, with no liability on your part, and there is not going to be a substantial personal injury claim, if any, that should give you some leverage too. Good luck. Keep us posted.

Skip

[My Raven]

Re: 2005 Total Loss Value

First, SIGN NOTHING & TENDER NO CHECK or FINANCIAL INSTRUMENT until you are made whole for the entire amount you are due and have agreed upon. Some insurers will send you a partial payment or the amount they deem your car is worth without negotiation or agreement. This is a trick with the thought if you have some money in your possession you will cash it and then press for more in the future. If you cash or deposit the check you have just released the insurance company and their insured from any liability; you have waived any attempt to seek further compensation; and the insurance company is quite happy because you have fallen for their scheme..

Demand they give you the difference between wholesale (which most insurers offer at first) v. retail and it is documented as such in your settlement. I also demanded demonition of value or the difference between retail value of your car before it was hit and the loss you will take if you sell it or trade it in and the dealership discovers it has been wrecked: The insurance company I dealt with refused and became quite nasty. After a month of playing hardball; hiring an independent appraiser to inspect and place a value on what the repair cost would be and what the car would be worth after it was repaired (it puts them on notice you are prepared to sue and you didn't just fall off the turnip truck) and then filing the necessary documents and paying court costs the insurance company relented: They realized I would indeed sue and see them in court.

Your car had a retail value when it was hit and you will pay a retail value when you buy another: Make sure you are compensated accordingly.

Your situation is a sore spot for me because I have been there: My car was t-boned exactly like it sounds like yours was and the subframe was bent.

Good Luck & Keep us posted.

[vsardine]

Re: 2005 Total Loss Value

Lots of good advice from all.
Reposted shots I posted earlier in Broken Wings
Thanks

[Sandman]

Re: 2005 Total Loss Value

Paul,did you have the top down when you were hit? Seems like our Birds can take a good hit at 50mph and not get completely demolished. The good thing is you were not hurt.

[FUN X 3]

Re: 2005 Total Loss Value

Wow, I expected a good deal more damage for a 50 mph t-bone impact.

[Katxoxo]

Re: 2005 Total Loss Value

Glad to hear you are okay.

While I do not have a Thunderbird loss story -- I do have a story about a stolen Maxima in 2000. While my car was 9 years old at the time, I had less than 20k miles on her -- and she was totally loaded and still had that new car smell when she was stolen (out of my own driveway a few days before Christmas -- loaded with gifts in the trunk!).

Anyway -- the insurance company wanted to give me about 5k for the car. Even though it was 9 years old -- it had little miles and was in MINT condition. Additionally -- it was a Special Edition model that was made in limited number.

Well -- I did my homework. There wasn't a lot of information on the net back then - but I did clip ads in newspapers, consult hardcopy of Kelley Blue Book as well as other car auction houses.

Got 10k returned to me -- double of what they initially quoted me. Lesson learned. They are in business to cover losses -- but losses they are willing to manage. As long as you are 'right' and can prove it-- they will definitely defer to you.

Good luck! And again, thank goodness you are okay!

[Vegas Retrobird]

Re: 2005 Total Loss Value

Sorry to hear about your lovely Bird, but glad that you are ok. Hope you get another just as nice, if not better!

[rmarshal]

Re: 2005 Total Loss Value

[QUOTE=tbird6t4;370558]Insurance companies don't replace cars, they just cut checks.

This is quite true--insurance companies do not go out and find you a replacement car, drive it to your home and hand you the keys. However, they will most likely write a check to replace your loss with a comparable value vehicle. This is not necessarily blue book value if you can show that THIS vehicle you've located is comparable to your loss. Standardized replacement values and actual values are two different animals. If your loss car had 8,000 miles and in immaculate condition, blue book will not necessarily reflect this.

Policy details will determine what they will pay. Ask for sales tax.