Jay,
Your insurance company may, and probably will, offer you a ridiculously
low amount of money as if that's your only choice. Don't take it if it's
not right!!
I had a perfect diesel Rabbit. Straight, excellent paint, 5 speed, AC,
regular dealer service, you could have eaten off the engine. I bought it
from the original owner for the bargain price of $1300. Then, someone
drove into it while it was parked and totalled it.
My insurance company (State Farm) called me with 'great news'. My claim
person said she talked to her boss and even got me a little more than
normal. I thought, "wow, I can go get another one as nice".
That's when reality hit. She said, "we can give you $650"...$650?!?!?!
I couldn't even get a rolling chassis from a wrecker for $650!
I pressed them until they gave me $1300, still too little to get another
Rabbit nearly as nice.
It wasn't until I had spoken with several other people that I figured it
all out. The insurance companies we trust to take care of us when things
go wrong, will offer us appalingly low offers because most people trust
them and take that first offer. We have to remember that they are only
in business TO MAKE MONEY!! THAT IS IT, PERIOD!!
Remember also, your agent is often not very connected to your claim
adjuster. If you aren't happy with the offer, tell your agent. Let them
know that you have a lot of choices for your insurance, but you chose
them for a reason. It's your agent's job to get and keep your business,
it's your claim adjusters job to write AS SMALL A CHECK AS POSSIBLE.
Your agent sometimes will call the adjusters office. Mine did, and I got
my money.
Hope this helps everyone, especially LBC owners,
Christopher Palmer
ps - also, ask your agent if they will give you agreed price coverage. A
Spridget Mk2 or 3 tops out in the books at around $5000. When was the
last time you tried to buy a 100 point Spridget for $5000?? I've got
more than that in my Midget, and it's not even close to being showable
yet.
I told my agent I wanted $7500 dollars Coll/Comp, and got it. If it ever
got totalled I know I could replace what I have.
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