All,

MetLife and I are $2-3K apart on the value of my stolen and totaled Integra Type R.

They say the next step is arbitration. From what I can gather, I find an appraiser, they find an appraiser. We submit our appraisals to an independent party. The ind party's ruling is final. Their ruling could be lower than what MetLife is currently offering. Could be higher. And I have to pay the appraiser for their work.

Has anyone gone through arbitration? How'd it work out?

 

Who finds the "independant party"? They can't be biased towards MetLife in order to make a "fair" decision. Good luck!

Anyone?

 

Is it binding or non-binding arbitration? Who selects the 'independent' party? If your ins. co picks the arbitrator and the decision is binding, I would be very cautious.

 

The 2 appraisers agree upon the umpire. If they fail, a county judge selects the umpire.

 

i leave in mass and i went threw the same thing with my r be careful because if the 2 appraisers come in under which could be any where from 3 to 8 grand you will get burned badly. so you might wanna get your own appraiser and see what he appraise your car for what ever number he come up with there appraiser wont be to far off

 

Any new developments?

 

Yes, I have contacted an appraiser. He's doing some research before we decide to go for this or not. He's already pointed out one area where MetLife is trying to screw me on the depreciation of audio/electronic equipment. He also claims to be friends with the guy who does arbitration for MetLife.

So, we'll see what his research says before moving ahead. He's $400. MetLife and I would split the cost of the Umpire, which would be about $250 for each of us.

Classic Motorsports has an article coming out next month about the collectibility of the ITR. This might be helpful. They did an article recently on the collectiblity of Japanese cars and mentioned the ITR. This might be helpful too.

 

There are plenty of press articles about the rareity of the ITR and its unique traits.

USA Today listed the ITR as one of the ten most likely Japanese cars to become a collector car:
http://content.usatoday.com/communit.../09/68498782/1

EVO Magazine Best FWD car ever:
http://www.evo.co.uk/carreviews/carg...a_integra.html

There are plenty more, let some of the other members contribute

 

Classic motorsports magazine, may 2009 "Future Classics" mentions the ITR on page 49

 

Yup. They are sending me a copy of that issue.

 

Update: I didn't go to arbitration as the ins company and I were only $2500 apart in our offers/demands. I'm getting $11K which is about $3500 more than where I started with Met Life.

For those interested in the ITR shell, once they receive my title the shell will be available (maybe through auction?). If you want to contact the yard about this call 978-667-6787. Reference Lot#: 15533179.