I got rear ended yesterday while in my 51 merc, and I'm worried about what will happen at the insurance company. It is an unrestored 1951 merc 1/2 ton. Rusty but very solid and straight. Now it has two fenders bent (one rear, one front), broken tail and headlight, broken rear window (from my head), dented grill. I also noticed that the front of the box hit the back of the cab, so I think some things out of shape there, maybe frame, maybe just the box, I'm not sure. What I'm worried about is that because it's unrestored, the insurance company may not want to pay to have the damage fixed. I'm not looking to repair the rust and pre-existing stuff that comes with an unrestored vehicle, I just want the damage that was done to be fixed. I need to determine how much my truck really is worth, before the insurance company gives me a low ball number. Does anyone have any good internet resources or advice on how I should arm myself with good information?
The insurance co. will value it by looking at local and ebay sales of similar vehicles... I've got a close friend that is an adjuster, that's how he values cl***ics for State Farm. I'd suggest from now on, getting an appraisal before it get's wrecked. also the figure they give you is just a starting point, I would research sales online and see what you come up with. Take notes and keep links handy so you can justy what you should get for it. Good comparisons are what will help you. Hope it works out!!
I may be wrong but, you should of had it "valued" when you got insurance, Take it to a shop that repairs REAL vehicles and have them write you an estimate, You'lle still going to have to fight.
Do you have insurance on this truck? Preferably agreed value collector car insurance? If not, you're screwed. The time to deal with this is before the accident. Saying something is rusty, but very solid and straight is an oxy*****. Is it rusty or solid? Using the Old Cars Price Guide (and using a '51 Ford), this sounds like it's between a #4 ($4880) and a #5 ($2880) . If this is the case, the truck is worth around $3500. And the damage you discribed makes this a total loss. The good part? If you plan on keeping the truck to do your own repairs, the salvage value (the amount they will withhold from the settlement) shouldn't be much. Maybe $500. But I can tell you that it most likely won't be fixed. At least not by the insurance company.
Your screwed. They will value it for you. If you placed a vlaue on it , it only counts if it ges totaled. If its not totaled they have to repair it . They will check the gold book for a value or hemmings motor news. THEY WILL NOT USE EBAY AS A VALUE..Its unreliable. Find a real shop and avoid dealership types of shops.. Dont forget to add the value to the car for the exchange rate for the Canuck Dollar..( Im a canuck too) Good luck and dont stop fighting. It may go easy but probably not. Is the insured with ICBC too????????
To my knowledge, you can only get collector insurance where I am if the vehicle is in restored condition.
It couldnt hurt to go talk to the guy that hit you's insurance agent. Remember to hold your neck and mention two three maybe six times that YOUR head broke the back gl***. Good luck-- you're gonna need it.....imo
Insured Stated Value if ya dont get a outside replacement price you are under contract to you ins co. READ YOUR POLICY!!!!! and discuss this with you agent or bob k
The first thing to look at is what are the liability laws in BC. If the damage is 100% the fault of the other guy then there should be an obligation on him to fix/replace your vehicle. So find out what it will cost to purchase another 1951 MERCURY PICKUP in similar condition or fix yours. "His" insurance should pay. If there is some sort of "no fault" rule or the wreck was partially your fault, then it becomes an issue of "your" insurance. (And yes I know in BC there is only one insurance co.)
I do appraisals all the time my area, insurance companies call on me or refer me to their customers for appraisals... you can have stated amount ins with your company and your protected.... You may have a fight on your hands but don't give up. It is a word to the wise HAVE your Vehicles Appraised. racinman Rick
A Prior to Loss appraisal may help if you really want to make a case. You WILL be upside down though and it will be an uphill battle. Aim high knowing you're going to have to settle for less. Here is a link to NADA value guide for a similar FORD http://www.nadaguides.com/default.a...5014&y=1935&m=1065&d=7341&c=10&vi=90787&da=-1 I suspect there were fewer Mercs so they may be a bit more in value. These guys are nearby Kelowna , maybe the can help with the appraisal angle http://www.specialinterestappraisal.com/
doesn't matter if it is before or after the damage. A good Independent appraiser will look past the recent damage. Get it appraised! BTW I just got done fighting with insurance over repairing my 1979 ford f250. LONG STORY SHORT they value the truck at 1500. I had it appraised for 8000. It took two months of constant baggering and using the right "phrases and key words" to let them know you mean business, know your rights, and have a "lawyer". I didn't have a lawyer, but they thought I did. In the end it cost them 6,000 bucks to fix it and they paid.... If you need any advice on how to handle this PM me. I could write a book on this.
It may be different in Canada, but I have agreed value collector insurance on my '48 dodge pickup (below) just as it came from the barn. They keep bugging me to raise the value, too. Mine's with Gulfway. Trucks only, except once you have a truck insured they'll insure some cars. (Not our '75 Vette, though)
you need to collect ads that show the true value of the truck.. Hemmings, Old cars, etc.... cause they are going to low ball you and you have to throw in a counter arguement.... then get insurance from people like Haggerty or Sneeds or any other agreed value collector car insurance company ... not a regular insurance company.. good luck
I'm dealing with the same thing right now here in Phoenix. My car was hit, it was they're insured's fault entirely. Hartford sent out an appraiser to look at my car, (very luckily it was a local street rodder who is slightly smitten with my beater!), but long story short, it's going well. I was given the choice of an appraiser or an adjuster. I would recommend an apraiser. As someone a couple of posts back said, they can look past the current damage and report they're findings the the company.
For those of you that don't know, in B.C., auto insurance is no fault and provided by the governement. There are no "private" auto insurers involved. Both parties have the same insurance provider...... that said, it will be interesting to see how it works out..... keep us informed.
been there done that. You always have the option of fix or replace. Ins. will try to insist you take a lowball cash amount. B.S. They claimed my sons 39 chevy was only worth $750.00 I told them to produce the car I'd take 5 at that price. ended up with$7000 to fix car. They cannot force you to take a loss. Michael
The Jalopy Journal
