Update on my 360 Fire in Vegas.

To those of you who were interested in how things worked out. The car was far too damaged to know what caused it (Picture of remains below). My mechanic thinks it must have been a ruptured fuel line. I was insured through Progressive. They were great to work with. I would highly recommend them. Whole experience was very scary, I definitely miss the car a lot. Going to save for a couple years and get a 458 Spider when the prices start coming down a bit. Thanks again for all the well wishes and wonderful advice I received while having the car.

Breck
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That'll buff out.

 

A little Bondo and good to go.

Breck, can you go into detail how Progressive came to a value on the car? It may help somebody here in the future if / when a car gets totaled. Thanks.

 

That's funny stuff but sorry to see what happened.


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They hired a professional appraiser to value the car. I had a stated value policy. Which means we agreed on a value when I got the car and what the policy stated was current value of car or stated value. Current value of the car appraised higher then stated value so I got what I insured the car for. I insured the car for what I paid for it, kind of a mistake because the car was worth between 12 & 15 more then what I paid. I'm just glad it all worked out and that I got my money back out of it.

 

I wish I could find the humor in it...

 

That used to be car! WOW! Glad you made it out safely.

 

Several years ago I was rear ended (not in the 360) and had some neck pain. I called the insurance agent of the person who was at fault and asked him if they would reimburse me if I had a physician check me out. He said yes. So, I had the physician check me out. I called the insurance agent and asked him who I should send the bill to, and he then said they would not reimburse me. When I spoke to his manager, the manager said, "I know we said that we would reimburse you, and I know that my agent made a mistake, but we are simply not going to reimburse you". The insurance company was Progressive. I will NEVER do business with that company.

 

My apologies, Utah. I couldn't resist.

Sorry about the car. As others have said, at least no one was hurt and you had insurance. Hopefully you be back in fold soon.

 

My Policy was directly with Progressive, no agent middle man. I think that eliminates a lot of confusion and makes things very clear when dealing with a high end exotic. During the process they were very clear and very thorough.

 

Progressive is not the greatest but some food for thought.

AIG Private Client group. If you have agreed upon value of "x" and current market value is higher you get the higher number. Vice versa. If market value is less then agreed upon you get the agreed upon.

Ace Private Risk - same thing

R

 

At least nobody was hurt. It must have been painful to watch. At the end of the day, that's what insurance is for

 

Sorry to hear about this Breck. Can you tell us what happened exactly? How much time did you have to react? I'm assuming that using your fire extinguisher was not an option.

 

Which calls to mind a question I brought up before: If you see smoke or flames, do you try to put it out or just let it go and take the check? Several here said they'd just let it burn to avoid dealing with a damaged car. Not sure I could do that, especially with an extinguisher by my feet.

 

Wow. That was more than a little fire. Glad all escaped with nothing more than a story to tell.

D

 

Sorry that things worked out as they did.

 

I see this coming to eBay with a "salvage" title

 

So basically you just have the keys and manual as souvenirs?
That picture is tough to look at.

 

Sorry for what happened to your car Breck.

Glad to hear you are OK.

We can replace a car. We only live once.

All the best to you.

Dan

 

Glad to hear everyone is okay, sorry about your car though.. That's quite a photo you got from the ordeal at least!

 

Did you mean to say that Progressive hired an appraiser to confirm the value that you wanted to insure the car for before they insured the car for that value? There would be no reason to hire an appraiser after the loss because in the event of a total loss, you get the amount stated on the policy regardless of the car's market value.

 

You say that you called the insurance agent. Progressive sells direct and through independent agents. If you were talking to an independent agent, your beef is with that agency, not Progressive.

You could have made a claim for bodily injury. I assume that you had damage to your auto as well? This should have become part of your claim. At a minimum, you should have called the company directly and/or filed a complaint with the Dept. of Insurance.

 

...or maybe an independent agent would have advised you to insure the car for its full value and you'd now have $12-15K more in your pocket.

 

Wow...that's horrible. Glad Progressive made it whole.

 

To answer a few questions.

We were driving and smelled fuel within two or three seconds of the fuel smell we heard the fire ignite, of coarse I immediately pulled the car over and we got the hell out as fast as possible. My passenger had to come out my door as there were flames already coming over his door. As you can see from the picture there is really no way to tell where or what started the fire. From the first picture we took after we got out the fire seemed to have started from fuel hitting the exhaust near the passenger rear tire. I didn't have a fire extinguisher, but with how fast everything happened there is no way I would have had time to mess with that. I left all my personal belongings and got out and away as fast as possible.

As for the appraiser from Progressive. If the current value would have been less then stated value that is the amount I would have received. I wasn't required to do a stated value policy it just helped lower my premium a bit.

Again thanks for all the kind comments. Still can't believe this really happened. I thought I would keep my first Ferrari forever, and just add to the collection.