North American Turbocoupe Organization



Insurance company is #$$%&$ us.
wbrco Offline
Been around a long time
#1
Folks,

My '88 got hit by the tornado in late May. The worst physical damage was broken tail lights and one hood scoop cracked. Obvious little dings/scratches etc.

After the adjuster did their job, the estimate came back at just over $4100.00.

The issue is that according to the insurance co, NADA only values a one owner 50K miles 88TC at $4000. I'm certainly disputing this, and have provided them recent sales from eBay, and listings from Craigslist.

As a collector organization, we need to start thinking about tracking completed sales so that we have a reference to guide future assessors.

From a personal standpoint, make sure you get classic auto "Agreed Value" insurance so you don't end up behind the 8 ball.

Soapbox mode off...

Allen
1988 TurboCoupe 5 Speed - 50,XXX Miles, stock as a rock. I drove it off the showroom floor in January 1989....
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5.0TurboCoupe1988 Offline
Posting Freak
#2
it's been that way ever since some guy came up with the idea of taking everyone's money and giving some of it back to a few of them. brilliant!
1988 TC 2.3/5-Speed, 148K
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natmac3 Offline
Administrator
#3
usually they'll give you up to 70-75% and let you get it fixed yourself, without calling it "totalled".

tell them you can get it fixed for $3k and you'll take the check payable to You!

i've seen it done this way plenty of times.
1987tc
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Gary S Offline
Administrator
#4
I got mine insured with State Farm at an agreed value of $15,000 and it only costs me about $200.00 a year. Actually it was cheaper than the regular insurance on it. Obviously there are restrictions that go along with but mine is not a daily driver.
Gary
NATO Member
1987 Turbocoupe
168,000 Miles
5 Speed
Black w/Raven Interior
http://www.turbotbird.com/showroom/data_...t_87tc.php
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turbird77 Offline
Member
#5
Most Insurance companys go by a little thing called black book value, which will always be significantly lower than the "Market Price" of any given car. Siting the current market value of a car means nothing to them, they won't even listen 99% of the time. You can sometimes wring it out of them, but it will always involve weeks/months of litigation, so be prepared to pay for a lawyer.

Since you already are where you are, the best way to go about it here, is to have them cut you the check for $3-4K, and then fix it yourself. If you do it right, you will even have some money left over to upgrade the car afterward.

Like all my cars (I own 4 old cars), I have mine insured through Hagerty with an agreed value. The TC being $14K, I pay $223 a year. Only restrictions are that it cannot be a daily driver, or driven over 8,000 miles a year, and has to be stored in a garage during downtime. Since mine will never be a daily driver again, that won't be a problem. The car will also be stored in my friends car warehouse during it's downtime. A F5 tornado couldn't knock that place down.
88 TC - Work in Progress.
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TurboE Offline
Posting Freak
#6
I've bought the car back for 20% of the totaled price. It would be a salvage title I belive at that point, for someone that cares or cares for resale reasons.
-88 TC Black
5spd, Precision SC50 T3/T4, QH/SD Tune, Gillis, AFPR, 255FP, WB O2, K&N, Ported E6, 3" DP, ATR 2.5" Duals, 3:73 Rear, Konis, Eibachs, 18" Voxx Wheels, X Drilled Rotors.
-06 G35 Coupe Diamond Graphite
-97 Pathfinder
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turbird77 Offline
Member
#7
Yep, I've bought a few back before, and depending on your states laws it most likely will acquire a salvage title at that point. It only kills the resale value for people who are looking for a Clean Car, otherwise it doesn't matter.
88 TC - Work in Progress.
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