The Few, The Proud, The #$#!!@ | Page 4 | FerrariChat
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The Few, The Proud, The #$#!!@

Discussion in '308/328' started by Danielcookson, Oct 10, 2008.

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  1. dm_n_stuff

    dm_n_stuff Four Time F1 World Champ
    Lifetime Rossa Owner

    Dec 10, 2003
    43,659
    26.806311,-81.755805
    Full Name:
    Dave M.
    #76 dm_n_stuff, Oct 31, 2008

    Nothing required on the part of the Ins co. to make it a salvage title.

    If you work the settlement correctly, simply take their payment as an offer in full for repairs, retain title to the car in your name, and get it fixed or sell it as is.

    I did exactly that with a recent claim on one of my kid's cars. Damage was 80% of value. The insurance company wrote me a check, and I offered to keep the car to help them "avoid the cost of towing, storage, and disposal." They jumped at it. I kept the car, kept the $$ and sold the banged up but repairable car to a buddy who has a body shop.

    I don't think there is any legal requirement to total and salvage title the car if they are offering you 60% of car's value.

    DM
     
  2. Danielcookson

    Danielcookson Karting

    Jun 24, 2007
    85
    San Diego
    Full Name:
    Daniel Cookson
    #77 Danielcookson, Oct 31, 2008
    This is basically what I offered USAA. A salvage title condemns the car to the salvage grave yard and destroys any future value of the car. I told them I would sign any document they put together, that I was flexible on the repair amount, and was even willing to absorb some of the cost of repair, AS LONG AS THERE WAS NO SALVAGE TITLE.

    Back in the 1970's my older brother was driving a Ford Pinto and was hit by another driver. The police report placed all the fault on the other driver. (His company tried to get the traffic accident report changed but was unsuccessful). They wouldn't settle. He painted a sign on his damaged car, "Orwell Rickenbacker Failure to Yield, State Farm Failure to Pay" and drove the car over a three state area while trying to settle. Although the company was angry it didn't take long for them to settle.

    I feel my artistic side stirring. How does, "Hoover Bad Driver, USAA Bad Insurance" sound? With over six military bases and 400,000 members and dependents in San Diego that should get their attention.
     
  3. bpu699

    bpu699 F1 World Champ
    Owner Silver Subscribed

    Dec 9, 2003
    17,540
    wisconsin/chicago
    Full Name:
    bo
    #78 bpu699, Oct 31, 2008
    Last I recall when an insurance company totals out your car they either have to pay you the actual value, OR REPLACE THE CAR WITH AN EQUIVILANT.

    So, tell USAA that they need to provide you with a replacement in equivilant condition. You may also get additional reimbursement for any modifications/updates.

    15 years ago I wiped out and totalled a 1986 Ninja 900. Insurance paid its value, about $4000. I pointed out that I had added an exhaust and a radio system. Thye had a shop give estimates on what "custom" audio work cost and a "custom" exhaust. I got a couple extra grand without fighting...

    Present the insurance company with any recent bills for a major, paint, upholstrey, etc. You can get these values tacked on to the base value of the car. These are considered "custom" upgrades and valued seperately...
     
  4. 328Nero

    328Nero Karting

    May 14, 2007
    193
    Houston, Texas
    Full Name:
    The Dude
    #79 328Nero, Oct 31, 2008
    I have my 328 insured with USAA, as soon as I type this I am going to call them and ask them why you are being trated this way and what would happen if I had the same problem...maybe I will have to switch insurance carriers? I will let you know what they tell me...
     
  5. Danielcookson

    Danielcookson Karting

    Jun 24, 2007
    85
    San Diego
    Full Name:
    Daniel Cookson
    #80 Danielcookson, Oct 31, 2008
    Three issues contribute to this situation, well four.
    1. SSgt Hoover elected $25K in collision coverage (The max they are legally required to reimburse me)
    2. USAA has under valued my 308 at $31K, thus they say it is a total loss with repairs over the 80% of their stated value
    3. They claim the salvage value to be $12,000
    4. I was an idiot for not changing insurance carriers when they wouldn't insure my 308 for its full value.

    Bobileff has provided an official appraisal for my 308 at $37,500.
    I have two real world offers on my car "as is" (one for $20K and another for $23,500)
    I will not settle for a salvage title

    I am sending off a demand letter to USAA today. I should hear back early next week and will keep everyone posted.

    DC
     
  6. KKRace

    KKRace Formula 3

    Aug 6, 2007
    1,052
    Rockville/Olney MD
    Full Name:
    Kevin
    #81 KKRace, Oct 31, 2008
    Maybe just settle with the Sgt's insurance and get the $25K check for the repair and then sell the car for $20K. You'll have $45K to find a nice car to replace her with. Might be easier to deal with his insurance company than your own. I'm not sure how state law is out there if you are "no fault" etc. In Maryland if the guy doesn't have enough insurance you can slap him with a judgement and take it out of his pay until you are whole.
     
  7. alberto

    alberto Formula 3

    Aug 25, 2001
    2,404
    San Diego
    Full Name:
    Alberto
    #82 alberto, Oct 31, 2008

    I'm not an expert on this, but I believe that you can have the car independently appraised by an expert (Gary qualifies) which you can use to fight back on this conclusion. One thing to consider is what value you need the car to be at so it will not be totalled. If the value is more than what Gary appraises the car at, then it might be a lost cause, unfortunately. You might need to spend some money on an attorney, that usually get's them to be more "agreeable".

    This sucks. I've not read every post, so forgive me if you have covered this, but I presume you did not have agreed to value on the car?

    Alberto
     
  8. Kevinwi

    Kevinwi Karting

    Nov 21, 2006
    241
    #83 Kevinwi, Oct 31, 2008
    Search the Internet via Google. You'll find lots of 308's for sale these days. To get you started, try the following link. Select Ferrari, and 308. Then, select the year of your car and start checking.

    http://www.driverside.com/buy-or-sell/Car-0-50-1970-1985-0-0-0-pg=1,condition=2
     
  9. Danielcookson

    Danielcookson Karting

    Jun 24, 2007
    85
    San Diego
    Full Name:
    Daniel Cookson
    #84 Danielcookson, Jan 22, 2009
    Its official. My 308 is on its way to Mexico. USAA finally agreed to settle with me and not total my car. Bobiliff found a buyer for the car un-repaired for what I paid for it. With the insurance $ I am way ahead.

    I do have some left over parts some of which I will post in the adds section. I would prefer to find someone that needed this stuff. You can contact me if any of you can use what I have left.

    A bag of 8 shift shaft quad rubber seals
    Original 308 muffler; it is heavy.
    Several relays that came from the previous owner
    12" long 3/4" braided hose from air filter box to air pump
    Euro style front air spoiler
    front fender assembly

    Thanks to all for your input and assistance. I look forward to getting another Ferrari soon.

    Dan Cookson
     
  10. jimshadow

    jimshadow F1 Veteran
    Lifetime Rossa Owner

    Feb 19, 2006
    6,246
    Indiana/North Carolina
    Full Name:
    JIM
    #85 jimshadow, Jan 22, 2009
    So, are you going to get back into another FCar?
    Glad to hear the ins. stuff worked out for you!

    JIM
     
  11. Neonzapper

    Neonzapper F1 Rookie

    Oct 19, 2008
    2,580
    MD/FL/Philippines
    Full Name:
    Mykol
    #86 Neonzapper, Jan 22, 2009
    We are all driving a lot more cautiously near trucks thanks to your post. Sorry about your car.
     
  12. Danielcookson

    Danielcookson Karting

    Jun 24, 2007
    85
    San Diego
    Full Name:
    Daniel Cookson
    #87 Danielcookson, Jan 22, 2009
    I'd like to find another Fcar. I have a 67 XKE that I have owned since 1982 and just put it in the shop for a tune and some other work. I will drive it until I can find the next Ferrari of my dreams. I am thinking about a 328 or perhaps a GT4. Thanks again.
    Dan
     
  13. 4REGT4

    4REGT4 Karting

    Aug 25, 2006
    124
    #88 4REGT4, Jan 23, 2009
    Unbelievable how this crap happens. My GT4 got backed up onto by a teen in a beat up Honda type car. Had my lights flipped up and they got bashed up, the bumper was cocked and was torn up by their exhaust, etc. I was at a light, sitting there behind him for about 20 seconds, then he must have floored it in reverse. The kid and his girlfriend told the officer that I rear ended him, and thus the officer put no fault on anyone and said to me that he knows about car repairs and only suggests $1k for repairs and considered that generous. Next week I'll finally have my 328 back from the damage done by a valet that jumped the clutch and ran it over a curb and into a wall (on top of that was a nearly complete repaint including the targa top going body color ;)).
     
  14. Birdman

    Birdman F1 Veteran

    Jun 20, 2003
    6,689
    North shore, MA
    Full Name:
    THE Birdman
    #89 Birdman, Jan 23, 2009
    Daniel,
    Now is a great time to get into another fcar!! Don't wait too long....prices are down!

    Birdman
     
  15. doug328

    doug328 Formula 3

    Mar 11, 2004
    1,599
    The Space Coast, FL
    Full Name:
    Doug B
    #90 doug328, Jan 23, 2009
    Sorry to hear about your loss, I'm sure its tough to say goodby. All the best in finding another Ferrari.
     
  16. dinogt4guy

    dinogt4guy F1 Rookie

    Oct 31, 2004
    3,411
    Hewitt, Tx.
    Full Name:
    Kurtis Fordice
    #91 dinogt4guy, Jan 23, 2009
    I don't know how much you have to work with, but you may be in the 348 range now with how the prices are dropping! Happy shopping!

    Cheers!
     
  17. santacaferacer

    santacaferacer Karting

    Jan 6, 2009
    76
    #92 santacaferacer, Jan 23, 2009
    A SIMILAR TRUCK BACKED INTO MY 328 2 MONTHS AGO. THE DAMAGE WAS LIMITED TO THE DRIVERS FRONT FENDER BUT LOOKED SIMILAR TO YOUR DAMAGE. MY LOCAL BODYSHOP HAMMERED THE DENT OUT TO THE POINT WHERE IS WAS PERFECT. IT HAD A NASTY CREASE THAT I THOUGHT "NO WAY" WOULD THEY BE ABLE TO DO IT WITHOUT FILLER. NOW THE CAR HAS GOT JUST THE FACTORY SPEC COAT OF FILLER OVER THE DAMAGE AND HAS BEEN REPAINTED AND YOU WOULD NEVER KNOW THERE WAS ANY DAMAGE. THE HOOD HAD A SCRACT AND THE FIBERGLASS NOSE HAD A CHIP IN IT AND HE REPARED ALL THAT DAMAGE FOR $3400.00. A SUPREMELY WELL DONE JOB. NO PANEL REPLACEMENT.

    NOW I REALLY NOTICE WHEN I AM BEHIND A TALL TRUCK AND MAKE SURE I AM WITHIN SIGHTS OF HIS REAR VIEW MIRROR NOW. I HAD THE SAME PROBLEMS WHEN DRIVING AROUND IN MY E-TYPE - FOLKS WOULD INEVITABLE VEAR INTO MY LANE AS THOUGH I WASNT THERE. I ASLO WAS BACKED INTO BY A PICK-UP TRUCK WHEN I HAD MY 1999 BMW M-COUPE. LIVE AND LEARN.
     
  18. thecarreaper

    thecarreaper F1 World Champ
    Silver Subscribed

    Sep 30, 2003
    18,020
    Savannah
    #93 thecarreaper, Nov 2, 2011
    bump.


    :mad:
     
  19. GrayTA

    GrayTA F1 World Champ
    Owner Rossa Subscribed

    Jun 25, 2006
    15,130
    Deep South
    Full Name:
    PDG
    #94 GrayTA, Nov 2, 2011


    Why BUMP???

    Did I miss something??




    PDG
     
  20. Tricycle

    Tricycle Formula Junior

    Dec 21, 2004
    636
    LA Cnty 4,083sqmiles
    #95 Tricycle, Nov 2, 2011
    He rear ended him on the message board... :)
     
  21. thecarreaper

    thecarreaper F1 World Champ
    Silver Subscribed

    Sep 30, 2003
    18,020
    Savannah
    #96 thecarreaper, Nov 2, 2011
    ill post details when appropriate
     
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