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Insurance wars

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Old Jan 28, 2003 | 05:54 PM
  #1  
ITR632's Avatar
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Default Insurance wars

Well after two months have gone by since my car was stolen and recovered.....(stripped to the bone). I have finally been offered a price by my insurance company today. They claim the fair market price on the car is like 17,XXX, but after they take out my 500 deductible and add back in some misc. stuff it comes out to a little over 18k. That is a freakin insult. I know that car is worth more so now i have to prove it. NADA says its worth right around 21k, and that is what the banks go by here when they give you a loan (at least that's what mine has always done.) And Kelly blue book will not give me a quote. Edmunds is ridiculous, it quoted me like 15k or somethin..... Anyways, if anyone has sold their R recently let me know what you got for it and possibly send me an ad or somethin i can use to show these clowns. Anyways the details on the car are as follows:
2000 PY ITR
40,xxx miles
stock except for AEM, CAM GEARS, golfclubs, and schoolbag/books(which they say is not covered).
Thanks all
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Old Jan 28, 2003 | 06:02 PM
  #2  
(__________)'s Avatar
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Default Re: Insurance wars (ITR632)

I would hit them for the 21k then buy your car back and pocket like 18k
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Old Jan 28, 2003 | 06:09 PM
  #3  
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Default Re: Insurance wars (steves98itr247)

You do not have to take there first offer. It is the job of the adjuster to save the company money buy giving you/the insured as little as possible. Collect as much data as you can on the going rate for the car ect. and present it to them.

I had to play the same game with the adjusters when I totalled a bike (ZX6R)

Good Luck.

Mattj
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Old Jan 28, 2003 | 06:12 PM
  #4  
ZygSpeed's Avatar
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Default Re: Insurance wars (ITR632)

http://www.cars.com/search/used/cc/s...questid=431990
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Old Jan 28, 2003 | 06:17 PM
  #5  
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Default Re: Insurance wars (Dropspeed)

You do not have to take there first offer. It is the job of the adjuster to save the company money buy giving you/the insured as little as possible. Collect as much data as you can on the going rate for the car ect. and present it to them.

I had to play the same game with the adjusters when I totalled a bike (ZX6R)

Good Luck.

Mattj
This is true, when I totalled my SI i denied a lot of there first offers and they finally decided to give me a little over 17 for a 2000 SI with 34k on it. I only paid 14200 for the car too


[Modified by steves98itr247, 10:18 PM 1/28/2003]
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Old Jan 28, 2003 | 07:53 PM
  #6  
TypeR 01 886's Avatar
 
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From: Ownz, Fl, USA
Default Re: Insurance wars (py1091)

golf clubs... riiiiiiiighhhtt, just kidding but that is not correct. I just totalled my GSR same year same mileage and i got 18K and its not a TypeR. Better fight that man.
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Old Jan 29, 2003 | 12:25 AM
  #7  
TurboR1391's Avatar
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From: Tallahassee, Florida
Default Re: Insurance wars (py1091)

Yea my friend payed $18,000 for a 2001 GSR in 2001 right before the RSX was introduced.
I just totalled my GSR same year same mileage and i got 18K and its not a TypeR.

You really lucked out. In 2001, right before the RSX was introduced, they were selling brand new GS-R's at my local dealer for $18K.
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Old Jan 29, 2003 | 06:14 AM
  #8  
nsxtasy's Avatar
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From: Chicago
Default Re: Insurance wars (py1091)

Sorry, but with that many miles, I don't think your car is worth $21K. Maybe around $18.5-19K.
Not even. Just take the $18K and use it to buy this one:

2000 Integra Type R #510
Phoenix Yellow
$17,500
54,300 mi
Located in Raleigh, NC

Leased from Springfield Acura (MO) in Feb 2000
Purchased thru Baranco Acura (GA) in Jan 2003 (awaiting title return)

Meticulous service schedule.
All major work performed Acura-tech friend.
Never wrecked.
Few knicks and scratches (daily driven for 2.5 yrs)

Car is currently stock.
Clifford alarm and ITR bra included.
ES motor mounts & shift bushings included.
(VAFC in passenger sun-visor still installed. Can be negotiated into
purchase price)

At one time was modified with Toda-SMSP set-up. Made 190 whp/128 tq.
New timing belt & tensioner installed upon removal.

Performed 6 HPDE's and about 20 1/4mi passes in 2001-2002.

Have many references.

I have decided to sell my car because I've decided to further my career by
undertaking a new training course. Just need to free myself of the car
payment.

Contact Info:
b18c510@hotmail.com
919-791-0678

Chris Blake
00 PY #510
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Old Jan 29, 2003 | 07:30 AM
  #9  
mstewar's Avatar
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From: Charleston, SC, USA
Default Re: Insurance wars (steves98itr247)

This is true, when I totalled my SI i denied a lot of there first offers and they finally decided to give me a little over 17 for a 2000 SI with 34k on it. I only paid 14200 for the car too
i paid a bit more for mine, but I did the same thing when I wrecked my 2000 SI.. argued them up to 18000, and then bought it back.. your R is worth way more than they're offering.. H-T classifieds will only help a little.. cars.com, autotrader.com and newspaper ads will help more with the insurance company..
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Old Jan 29, 2003 | 07:47 AM
  #10  
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From: Tempe, AZ, USA
Default Re: Insurance wars (mstewar)

Just tell the insurance company you want the report they used to get this price. Most likely they based it off some GSR's, etc. They get their price by getting a marketing company to look up what similar cars are currently selling for. Tell them you want to see the report they used.

Also, go on Autotrader.com, etc. and look up prices for similar Type-R's being sold. Then send those adds to the insurance company.

I did this and on my 2000 PY ITR w/ 15K miles (stock) I got $23K+ before adding in tax, etc. This was one year ago.

Just hold out until they give you what you want. I would ignore calls for the insurance adjustor so finally he got annoyed and made an offer I liked.
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