2005 Total Loss Value

[twotops]

Re: 2005 Total Loss Value

Repair or deem it a Total Loss. To consider it a Total Loss, the repairs need to be 70 to 80% of the market value. Market value depends on how much an 2005 T-Bird (steel blue) sells for in a 50 mile radius from where your vehicle is garaged.

How many did 05 steel blue T-Birds did Ford make? THe insurance company will have a hard time finding a comparison T-Bird as clean as yours, with as low miles as your, in the same color. Do not let the insurance company tell you the black or red one has identical miles, and indentical options as yours. Yours has a special color for that year.

Your car is a limited edition type vehicle. It can only be replaced with a steel blue, with only 12,000 miles on it. You need to bring documetation that there were only so many produced. What may happen, it search area will be widened from 50 miles to 100, then 200 then maybe even a 1000 miles.

You can request to have them fly you to the vehicle whereever it is so you could inspect it. They may not go for it, but, tell them your car is a rare specialty vehicle and should be treated like one. They will have to pay to have it transported back to your hometown.

Do not settle for a comparison model like a red or black. Those or more common. Did your T-Bird have the medium blue convertible top? If so that is more rare.

BTW insurance companies are suppose to pay for the license fee and sales tax on any dmaged car deemed a Total Loss.

If you have any other questions regarding settlement, just ask.

[JAB02LHS]

Re: 2005 Total Loss Value

tell them your car is a rare specialty vehicle and should be treated like one

They will tell you you should have insured it as such with an agreed value.
Book value on the Tbirds is not color specific.
So if you don't have a declared value policy you will only get book value regardless of color. JMHO

[twotops]

Re: 2005 Total Loss Value

JAB02LHS is correct. Are you dealing with your insurance co? or the other guys/gals company?

It is not color specific, but, if you bring in documetation, such as portholeauthority.com, showing them the limited number of steel blue T-Birds, and you will only settle if they can show comparable cars with steel blue paint.

An Inca Gold T-Bird does not sell for the same price as a black or red.

There are people working at the insurace companies. Those people have hearts, they have to go home a sleep at night just like all of us. Believe me, they want to put you back to a pre-loss position.

As long as you have the documentation that steel blue T-Birds (especially ff you have the medium blue top) were limited production you have a chance to pull at the heart, get them on your side.

You want them to be sympathetic, not angry. If you demand, demand and demand, you won't get any help from them. Which would you help more? A wounded Bird, or an angry dog? The wounded Bird.

[JAB02LHS]

Re: 2005 Total Loss Value

There are people working at the insurance companies. Those people have hearts, they have to go home a sleep at night just like all of us. Believe me, they want to put you back to a pre-loss position. .

Sorry my pre-loss position was not bent over.
Two separate motorcycle accidents the adjusters for the other driver of an auto would not even come close to the cost to replace my motorcycle. I even said if they could buy a replacement for that money to buy it for me. I was willing to sign off if they just replaced the bike!

Funny how they both came up to my reasonable number when my attorney called. Too late, now the attorney went after pain and suffering for mine and my wife's injuries. Cost them about four times what they could have settled on with me each time.

I am not sue happy, but the insurance companies treat you like a fool unless they are dealing with a lawyer.

[twotops]

Re: 2005 Total Loss Value

I work for an insurance company as a claims adjuster / estimator. I don't treat people like fools.

[Treken]

Re: 2005 Total Loss Value

I work for an insurance company as a claims adjuster / estimator. I don't treat people like fools.

As most don't I bet...

But since we have you here: How do you do the replacement insurance thing on cars like ours or sumular that are harder to replace?

From what I here, and I may be wrong, but a car has to be 20 years old to get true replacement on harder to replace vehicles, and then you have to ask and get special insurance.

My friend has to get a certified apprasial every 2 years for his bike to be covered because of the price and make.

[MATBird]

Re: 2005 Total Loss Value

Steve:
Not sure if this will help, but when I had my antique cars I had an annual appraisal and the insurance was for the appraised value. Other wise it would just have been a 19XX automobile.
Not sure if they'll do that for current models, or if our cars would appraise for much more than book value at this point. Maybe someone from the industry can help us with that.
Of course if they would do that for you, you would pay accordingly

[Katxoxo]

Re: 2005 Total Loss Value

Any update on your bird?

[billm]

Re: 2005 Total Loss Value

I got the same kind of hit in a '89 Olds Cutlass with 6,000 mi. on it. It really took a hit, but was repaired. I sold it immediately afterwards, being afraid of problems due to the front transaxel damage. The fellow who bought it, drove it over 100,000 mi. and later told me it was one of the best cars he ever had. No problems from the accident! Go figure!

[twotops]

Re: 2005 Total Loss Value

But since we have you here: How do you do the replacement insurance thing on cars like ours or sumular that are harder to replace?

You have purchase a special insurance policy, however, the cost of repairs have to exceed 80% of the vehicle value. The other would be if the vehicle is a structural total loss, meaning cost of repairs does not exceed the threshold, but, the manner in whech it is repaired is unrealistic.

One of my claims involved a $120,000.00 SL55 MBZ. Cost to repair was $65,000.00. Repairs did not exceed 70% let alone 80%. The Right Front and suspension was damaged, a little fire wall damage. Vehicle was not a strucural total loss, it was repairable. Why? Because repairs were not unrealistic.

Another of my claims involved a $165,000.00 Ferrari. Type of damage was extensive. Vehicle went airborn, came down hard on the freeway, went into a ditch.

Repairs cost $85,000.00. Did not meet the 70% threshold. Type of repairs were unrealistic because all susp was collapsed, chassis was pancaked, twisted, and major frame damage to the right front. Vehicle was a Total Loss.

[toysax]

Re: 2005 Total Loss Value

I just picked up my 04 merlot with the new bumper cover. It looks great. The adjuster could have had me fix the old one or put an used one on but said the car was too nice to do that. I have been pleased with State Farm coverage and claims people for years.

Gary

[Skip]

Re: 2005 Total Loss Value

Some of the antique/specialty car insurers like Haggerty and JC Taylor have allowed folks with policies covering other collectible/special interest vehicles put their retro Birds on these policies. I'm nor certain if they would do it on a stand alone basis yet. These are agents, not insurance companies (carriers), so they generally have some latitiude as they represent multiple companies.

[Skip]

Re: 2005 Total Loss Value

I agree with Curtis. My first few of nearly 35 years in the insurance business were spent in the claim department, then in risk management/loss prevention. We bent over backwards to be realistic and fair to claimants and insureds as long as the requests were reasonable and could be substantiated. Bad reputations regarding how insurance companies handle claims gets around quickly and aren't good for business. And my experience has been that claim folks have been much more liberal in handling clainms recently, which can be good or bad, depending on which side of the fence you are on.



twotops;371188]I work for an insurance company as a claims adjuster / estimator. I don't treat people like fools.[/QUOTE]

[FUN X 3]

Re: 2005 Total Loss Value

By far the easiest thing in the world to do is write that check every month to the insurance company. On the other hand; the hardest thing to do in this world is to get a check from them. They are there to make money period your emotional connection to your car is of no concern of theirs. IMHO.

Laughed out loud, so true!