VX stolen, Looking for insurance advice

[bssage]

Here is the deal my VX peeps. My sweet little VX was stolen last weekend (short version) Mucho damage.

Going to review with the Ins adjuster today. My particular insurance is for "Replacement cost" as apposed to "Value". Which my understanding is they use comparison's in addition to blue book values.

Any advice on insurance in general? Any advice helping them gather "Comp's" specifically?

My ride is not completely tricked. But it is lifted, with larger than stock wheels/tires, cow cowcatcher, fog lights, ect . . . There is no way I could buy what I have for the blue book 2000 VX value. So I need to hit one out of the park doing this right.

Thanks in advance
Bryan

[WormGod]

Chances are, no matter what you did to it anyways, insurance just doesn't give a damn. Your best bet is to strip down the stuff you put into it, and let them value it that way. That stuff isn't going to budge them on value anyways. If the book says "this", you will probably get "this". **I do not think replacement cost works on vehicles that are no longer manufactured, so they will have to go by value.** I had a friend go through something similar with an older Honda CRX and that was how it was played out for him (his was stolen and left for dead too :( ). It is too hard to comp a vehicle that yuo simply, do not see anymore, heh.

Just keep in mind, and be up front, that when they value it at "book value", you are stripping off the things you did to it. I was up front with Allstate years ago on a vehicle that was totaled and I told them if they didn't cover the bells and whistles I put into it, I was taking them out. They really did not give a hoot, but again, I was up front about it. After the fact, you are probably going to lose that battle.

Good luck. Dealing with ANY insurance is cancer....

[nocturnalVX]

Man... that's horrible. Lowlifes ruining it for everyone else. I hope that you don't lose out too bad financially after losing out on your VX. Good luck.

[Dare2Dream]

1. Depends on whether they are offering to repair it or total it. You likely need to document all the things damaged and work with a body shop on the estimate or do one yourself. Don't short change yourself on this amount, add everything you can including labor costs. If you have records of items purchased and installed, that will help you.

2. Find comparable VX'es for sale to be able to argue replacement value from something comparable with similar mods.

3. Consider hiring a public adjuster, a professional who works for you to get you the most from insurance. I don't have personal experience with this but have heard about it and it makes clear to the insurance that you mean business.

4. Don't show your cards early, i.e. don't tell them your bottom line value or say anything to them that limits you in the future in case you have to fight them later. Better to ask for more than you'd be willing to settle in the end.

5. A lot of above may not make a difference. Last year, my Trans Am was totaled at 100% other guys fault. After they had given me the initial estimate, i submitted receipts for around $2500 for getting a sports transmission installed. They valued that modification at a laughable $100. Their initial offer wasn't bad but just shows that aftermarket installs don't always get you money from insurance. Not much you can do in such cases unless you are willing to hire a lawyer and go through extra hassle.

6. Finally, and you probably don't need to bring this up right away, but if you decide not to use an insurance provided rental car, then the insurance should pay you what is called "Loss of use" per day, around $20-$40 per day. They usually do it from the day of the loss to until 5-7 days after they give you an estimate. The rules are obviously different in different states but make sure to ask for that too. They don't always offer it themselves but are required to pay this, at least in CA.

Anyways, take all the above with a grain of salt and do your own research. I am not an expert in any way, just sharing a few things I learned last year from personal experience. You'd be best served talking to an expert, perhaps a lawyer who deals with such cases.

[ahdoman]

Don't accept their first offer! If you accept it and cash the check you're done. Keep refusing until you get the appropriate value. Pull up all of the VX's for sale right now that match yours and submit that info to the company. Take a look at Craigslist for the west coast. For some reason the prices of VX's seem to be higher out here. Also, most of them are pretty clean and rust free.

[bssage]

I've been researching and studying Negotiating ins comps. My VX friends on FB have been loading me up with real comparable to use as ammo. Once I have a workable strategy with comps I may post it here just to see if anyone has suggestions to improve.

[ipd]

Buy the sucker back. Rip every useable part off it and sell them--or sell it to someone who will do the same.