Insurance claims S13 $5500 - Zilvia.net Forums | Nissan 240SX (Silvia) and Z (Fairlady) Car Forum

gtstwincam · 08-31-2007, 11:33 AM

Do not leave your car sitting at a tow yard. The tow yard can liensale your vehicle and you can incur high storage charges. If not paid, you can get turned into collections.

Dont assume the insurance company is responsible for the storage. You have a duty to notify them where the car is so that they can at least make an attempt to recover it for you.

If the claim is under investigation to determine at fault, you need to get it out of a tow yard. Dont just let it sit there while the insurance is deciding at fault.

If they determine its your fault, you are screwed!

If they determine it is their insured's fault and if you have a $1000 storage bill and the car is still at the tow yard, the insurance co will pay for your car and "reasonable storage".

The car will be left at the yard and any excess is your responsibility.

Also, they will deduct addtl from your settlement. This is like you buying back your car because the insurance company was not allowed to recover it from the tow yard due to excessive storage charges.

Thus, you are forced to keep your own car and deal with the tow yard for the rest of the storage.

Just remember to have the car towed back home or to a storage free facility.

axiomatik · 08-31-2007, 11:54 AM

nice info, posi-rep for you.

hellion240sx · 08-31-2007, 12:10 PM

yeah thanks for being open to advice. Great info. Subscribed!

babowc · 08-31-2007, 12:13 PM

good info.
repped

GoodOl'S13 · 08-31-2007, 12:16 PM

Thanks for the info, posi rep for you.

*exitspeed* · 08-31-2007, 12:21 PM

Interesting. Thanks for the tip. More big rep for you.

(newbs with red squares take notes).

xpertsnowcarver · 09-08-2009, 12:38 AM

Quote:

Originally Posted by exitspeed

(newbs with red squares take notes).

Lmao. The current newbs since it was removed won't take notes. Therefore, newbs that have been ridiculed for not searching or posting stupidity, take note.

Andrew @ 240sxMotoring · 08-31-2007, 12:21 PM

Definitely some good pointers!

ESone3 · 08-31-2007, 12:27 PM

wow and adjuster that doesn't rip people off!

iROYAL · 08-31-2007, 12:50 PM

thank you, subscribed

*S13Boosts* · 03-19-2008, 08:58 AM

Quote:

Originally Posted by iROYAL

thank you, subscribed

same here +1

snappy · 08-31-2007, 02:00 PM

A+, my buddy could've use this advice a year ago. Mega rep points for you.

GSXRJJordan · 08-31-2007, 02:17 PM

Definitely good advice. Problem with 240s and comprehensive/collision is that the premiums for a year are damn close to the value of a clean shell... and if you request additional coverage (for aftermarket parts) it skyrockets.

$5500 for a S13. Wow. I'm definitely going to remember that.

gtstwincam · 09-01-2007, 01:57 PM

deleted.
deleted.

Inland180 · 08-31-2007, 10:22 PM

good info but my car is still worth more than $5500 with all the upgrades on it. About $5500 is still alot better than $1500. Will consider that.

gtstwincam · 09-01-2007, 03:04 AM

Quote:

Originally Posted by Inland180

good info but my car is still worth more than $5500 with all the upgrades on it. About $5500 is still alot better than $1500. Will consider that.

Dont take this personal and Im not trying to insult anyone..

but if you modify a ford pinto with suspension, engine mods, seats, etc etc...

its still a pinto.

If you upgrade a house, it will increase value.
If you upgrade a car.... you just wasted money.

You can put a $3,000.00 stereo system in a $500.00 car and your car will still be worth $500.00.

Now if you are talking about classic muscle cars or vintage cars, thats a different story.

Flipzide · 08-31-2007, 11:42 PM

yea.. the guy shouldve bought it back.

i got into an accident shortly after receiving my stock 89 myself. anyway, it was totalled and i recieved about ~3300. re-registered under a salvaged title and repaired it with the remaining money after buying the car back. went from silver to white and zenki to chuki front. definately worth it, haha.

in my mind, i basically own a free s13 now. lol.

thanks for the tip, dude. i'll keep it in mind if something ever happens to another car of mine. +1.

hayaimoto · 08-31-2007, 11:44 PM

awesome info! Ill check with my insurance company tonite about my policy!

projekt_s13 · 09-01-2007, 12:13 AM

Quote:

Originally Posted by gtstwincam

I am a claims adjuster/supervisor for XXX insurance and also a fellow S13/S14 owner

I just totalled a very clean 1990 S13 the other day and paid $5500.00 to the guy.

He had the option to buy it back for $700.00.

What did the car have? Mods wise, cuz 5500 is alot for a zenki S13.

O3DigitalBath · 09-01-2007, 02:18 AM

yea lil more detail on how he got some much money for the car?

gtstwincam · 09-01-2007, 03:09 AM

deleted.
deleted.

gtstwincam · 09-01-2007, 03:15 AM

deleted.
deleted.

rainier · 09-01-2007, 03:27 AM

what insurance company do you work for? so next time i needa renew, ill go to you guys lol

gtstwincam · 09-01-2007, 07:07 AM

Quote:

Originally Posted by rainier

what insurance company do you work for? so next time i needa renew, ill go to you guys lol

Secret.

JaeTea · 09-01-2007, 07:22 AM

I still can't see how someone gets $5500 for a 1990.

Did someone just pull that number out of the air?

Even with the "drift craze" you are talking about, that car is no where near worth that much.

gtstwincam · 09-01-2007, 12:53 PM

Quote:

Originally Posted by JaeTea

I still can't see how someone gets $5500 for a 1990.

Did someone just pull that number out of the air?

Even with the "drift craze" you are talking about, that car is no where near worth that much.

I work for the second largest insurance company in the US and youre telling me I did not settle a claim for a 1990 240SX for $5500?

Are you saying Im lying?

What insurance do you have? Ill be glad to give you a low ball offer on your car.

I wont go into details on how or why it was $5500.

You obviously didnt read the previous posts about Fair market value.

Is it just me or is this guy a tourist?

Dont ask me for help with any claims you may have in the future.

Youre lucky you got to read this post. I can easily delete it.

JaeTea · 09-05-2007, 12:58 PM

Quote:

Originally Posted by gtstwincam

I work for the second largest insurance company in the US and youre telling me I did not settle a claim for a 1990 240SX for $5500?

Are you saying Im lying?

Nope.

I'm just guessing the FMV in CA is totally wacked compared to the rest of the country, thats all.

Every single insurance claim I've ever heard about, the payment never made up for the money owed on the vehicle. The person always ended up paying out of pocket.

Thanks for all this info though...and maybe take a few days vacation.

gtstwincam · 09-05-2007, 04:32 PM

Quote:

Originally Posted by JaeTea

Nope.

I'm just guessing the FMV in CA is totally wacked compared to the rest of the country, thats all.

Every single insurance claim I've ever heard about, the payment never made up for the money owed on the vehicle. The person always ended up paying out of pocket.

Thanks for all this info though...and maybe take a few days vacation.

Well, you are right. Ive seen some claims where we didnt pay the full amount owed for a vehicle.

For example.

We had a customer purchase a brand new $60,000.00+ BMW.

She totalled it 6 months later.

We paid off the vehicle (to the bank), which was $49,000.00+ FMV.

She still owed the bank the difference.

Remember that vehicles depreciate quickly!

Cars are not a good/wise investment.

Like E40 says, dont buy a $100,000 car before you buy a house.

oneighty · 09-01-2007, 09:41 AM

thanks for the advice

babowc · 09-01-2007, 01:43 PM

very cool.
but then the fair market value would be completely different per region, right?

And.. all insurance companies use the FMV?

08-31-2007, 11:33 AM	#1
gtstwincam Zilvia Member Join Date: Mar 2006 Location: Vallejo, CA Posts: 193 Trader Rating: (0) Feedback Score: 0 reviews	Insurance claims information- fr: Adjuster Do not leave your car sitting at a tow yard. The tow yard can liensale your vehicle and you can incur high storage charges. If not paid, you can get turned into collections. Dont assume the insurance company is responsible for the storage. You have a duty to notify them where the car is so that they can at least make an attempt to recover it for you. If the claim is under investigation to determine at fault, you need to get it out of a tow yard. Dont just let it sit there while the insurance is deciding at fault. If they determine its your fault, you are screwed! If they determine it is their insured's fault and if you have a $1000 storage bill and the car is still at the tow yard, the insurance co will pay for your car and "reasonable storage". The car will be left at the yard and any excess is your responsibility. Also, they will deduct addtl from your settlement. This is like you buying back your car because the insurance company was not allowed to recover it from the tow yard due to excessive storage charges. Thus, you are forced to keep your own car and deal with the tow yard for the rest of the storage. Just remember to have the car towed back home or to a storage free facility. Last edited by gtstwincam; 05-12-2010 at 10:29 PM.. Reason: revised

08-31-2007, 11:54 AM	#2
axiomatik Post Whore! Join Date: Dec 2003 Location: ATL Posts: 4,697 Trader Rating: (0) Feedback Score: 0 reviews	nice info, posi-rep for you. __________________

08-31-2007, 12:16 PM	#5
GoodOl'S13 Zilvia Addict Join Date: Nov 2006 Location: So Cal Posts: 937 Trader Rating: (0) Feedback Score: 0 reviews	Thanks for the info, posi rep for you. __________________ I HONDA HATERS Secret Society

08-31-2007, 12:21 PM	#6
exitspeed aWingThing.com Join Date: Mar 2003 Location: Milwaukee, WI Age: 44 Posts: 20,900 Trader Rating: (1) Feedback Score: 1 reviews	Interesting. Thanks for the tip. More big rep for you. (newbs with red squares take notes). __________________ What I do for a living...www.mhrussell.com

08-31-2007, 12:21 PM	#8
Andrew @ 240sxMotoring Zilvia Addict Join Date: Feb 2007 Location: New Haven, CT Posts: 789 Trader Rating: (17) Rides Gallery: Andrew @ 240sxMotoring Feedback Score: 17 reviews	Definitely some good pointers! __________________ Andrew @ 240sx Motoring Milford, CT @ 203-783-1422 (ext. 112) Read what people have to say about 240sxMotoring!

08-31-2007, 12:10 PM	#3
hellion240sx Zilvia FREAK! Join Date: Nov 2003 Location: NOLA Age: 42 Posts: 1,514 Trader Rating: (0) Feedback Score: 0 reviews	yeah thanks for being open to advice. Great info. Subscribed!

08-31-2007, 12:13 PM	#4
babowc Post Whore! Join Date: Nov 2005 Location: G.NET Posts: 2,659 Trader Rating: (9) Feedback Score: 9 reviews	good info. repped

08-31-2007, 12:27 PM	#9
ESone3 Zilvia.net Advertiser Join Date: Oct 2005 Location: Chicago Posts: 1,376 Trader Rating: (15) Feedback Score: 15 reviews	wow and adjuster that doesn't rip people off! __________________ www.illgarage.com

08-31-2007, 12:50 PM	#10
iROYAL Zilvia Addict Join Date: Jan 2007 Location: 310 Posts: 763 Trader Rating: (4) Feedback Score: 4 reviews	thank you, subscribed

08-31-2007, 02:17 PM	#13
GSXRJJordan Post Whore! Join Date: May 2006 Location: San Diego, CA Posts: 9,135 Trader Rating: (19) Rides Gallery: GSXRJJordan Feedback Score: 19 reviews	Definitely good advice. Problem with 240s and comprehensive/collision is that the premiums for a year are damn close to the value of a clean shell... and if you request additional coverage (for aftermarket parts) it skyrockets. $5500 for a S13. Wow. I'm definitely going to remember that. __________________ Jordan Innovations has a new web site! www.JordanInnovations.com -- All your favorite FD Pro Drifters love it, trust me -- www.JordanInnovations.com

09-01-2007, 01:57 PM	#14
gtstwincam Zilvia Member Join Date: Mar 2006 Location: Vallejo, CA Posts: 193 Trader Rating: (0) Feedback Score: 0 reviews	deleted. deleted. Last edited by gtstwincam; 05-12-2010 at 10:31 PM..

08-31-2007, 10:22 PM	#15
Inland180 Nissanaholic! Join Date: Jan 2004 Location: Southern Cali Posts: 1,763 Trader Rating: (21) Feedback Score: 21 reviews	good info but my car is still worth more than $5500 with all the upgrades on it. About $5500 is still alot better than $1500. Will consider that. __________________ PTE6262 Full-Race Twin Scroll FTW! Feedback LINK

08-31-2007, 11:42 PM	#17
Flipzide Nissanaholic! Join Date: Jan 2004 Location: San Diego, CA Posts: 2,011 Trader Rating: (5) Feedback Score: 5 reviews	yea.. the guy shouldve bought it back. i got into an accident shortly after receiving my stock 89 myself. anyway, it was totalled and i recieved about ~3300. re-registered under a salvaged title and repaired it with the remaining money after buying the car back. went from silver to white and zenki to chuki front. definately worth it, haha. in my mind, i basically own a free s13 now. lol. thanks for the tip, dude. i'll keep it in mind if something ever happens to another car of mine. +1. __________________ D-Street.net \| bcuison.wordpress.com

08-31-2007, 11:44 PM	#18
hayaimoto Zilvia Junkie Join Date: Dec 2006 Location: Irvine CA Posts: 492 Trader Rating: (20) Feedback Score: 20 reviews	awesome info! Ill check with my insurance company tonite about my policy! __________________

09-01-2007, 02:18 AM	#20
O3DigitalBath Zilvia Addict Join Date: Apr 2006 Location: ~Orlando, FL Age: 39 Posts: 664 Trader Rating: (1) Feedback Score: 1 reviews	yea lil more detail on how he got some much money for the car?

09-01-2007, 03:09 AM	#21
gtstwincam Zilvia Member Join Date: Mar 2006 Location: Vallejo, CA Posts: 193 Trader Rating: (0) Feedback Score: 0 reviews	car deleted. deleted. Last edited by gtstwincam; 05-12-2010 at 10:30 PM..

09-01-2007, 03:15 AM	#22
gtstwincam Zilvia Member Join Date: Mar 2006 Location: Vallejo, CA Posts: 193 Trader Rating: (0) Feedback Score: 0 reviews	a tip deleted. deleted. Last edited by gtstwincam; 05-12-2010 at 10:30 PM..

09-01-2007, 03:27 AM	#23
rainier Nissanaholic! Join Date: Mar 2003 Location: San Diego / Santa Ana Age: 37 Posts: 2,093 Trader Rating: (0) Feedback Score: 0 reviews	what insurance company do you work for? so next time i needa renew, ill go to you guys lol __________________

09-01-2007, 07:22 AM	#25
JaeTea Zilvia Addict Join Date: Mar 2004 Location: EC Posts: 967 Trader Rating: (3) Rides Gallery: JaeTea Feedback Score: 3 reviews	I still can't see how someone gets $5500 for a 1990. Did someone just pull that number out of the air? Even with the "drift craze" you are talking about, that car is no where near worth that much. __________________ KILL!KILL!KILL!KILL!KILL!KILL!KILL!KILL!

09-01-2007, 09:41 AM	#29
oneighty Leaky Injector Join Date: Apr 2003 Location: houston Posts: 66 Trader Rating: (0) Feedback Score: 0 reviews	thanks for the advice __________________ loony from da boony...

09-01-2007, 01:43 PM	#30
babowc Post Whore! Join Date: Nov 2005 Location: G.NET Posts: 2,659 Trader Rating: (9) Feedback Score: 9 reviews	very cool. but then the fair market value would be completely different per region, right? And.. all insurance companies use the FMV?