Need Help - CR Total Loss Appraisal
02-09-2017, 12:15 PM
#1
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Need Help - CR Total Loss Appraisal
Hi Everyone,
I was going to wait until my insurance is settled to share the news but two weeks ago I was involved in a not at fault hit and run accident in the CR. The important thing is that I'm alright (a handful of broken ribs), however the CR was deemed a total loss. My insurance company has come back with an initial actual cash value of $25k. The car is ABP, stock with a Mugen exhaust and has just a hair over 24,000 miles and was in pristine condition with no funny history. I know an actual cash value of $25k is just plain low and I'm looking into ways to prove this to my insurance company. Ebay is currently littered with non CR S2000s of the same year/similar mileage and they are listed in the low $30k range, however I don't think sharing eBay ads with the insurance company is going to do much. I think I'll need to enact my appraisal clause, if anyone has any advice on obtaining an official appraisal from someone who knows the actual value of a CR could chime in, I would greatly appreciate it.
Thanks!
I was going to wait until my insurance is settled to share the news but two weeks ago I was involved in a not at fault hit and run accident in the CR. The important thing is that I'm alright (a handful of broken ribs), however the CR was deemed a total loss. My insurance company has come back with an initial actual cash value of $25k. The car is ABP, stock with a Mugen exhaust and has just a hair over 24,000 miles and was in pristine condition with no funny history. I know an actual cash value of $25k is just plain low and I'm looking into ways to prove this to my insurance company. Ebay is currently littered with non CR S2000s of the same year/similar mileage and they are listed in the low $30k range, however I don't think sharing eBay ads with the insurance company is going to do much. I think I'll need to enact my appraisal clause, if anyone has any advice on obtaining an official appraisal from someone who knows the actual value of a CR could chime in, I would greatly appreciate it.
Thanks!
Last edited by TheCarGuy2021; 02-09-2017 at 12:30 PM.
02-09-2017, 01:16 PM
#3
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I was hit pretty hard in the rear from an angle at speed on the freeway, similar to a pit maneuver. I wasn't able to keep it straight, came around and hit the cement median pretty hard on the passenger side. The other car drove off never to be seen again, however there was a witness. The terrible thing is that I still have the quote from Hagerty, dated 3 weeks before the accident, with an agreed on value of $35k. Procrastination is a terrible thing.
02-09-2017, 01:39 PM
#4
You have to find previously sold CR's and show to the insurance company.
First, have the insurance company give you the list they used to compile the value. Ask them how the determined the value if they didn't find any CR's for sale.
Second, go on the CR subform and ask members to send you any info they have about their recent sales. Receipts, ads, etc.
First, have the insurance company give you the list they used to compile the value. Ask them how the determined the value if they didn't find any CR's for sale.
Second, go on the CR subform and ask members to send you any info they have about their recent sales. Receipts, ads, etc.
02-09-2017, 03:43 PM
#5
You have to find previously sold CR's and show to the insurance company.
First, have the insurance company give you the list they used to compile the value. Ask them how the determined the value if they didn't find any CR's for sale.
Second, go on the CR subform and ask members to send you any info they have about their recent sales. Receipts, ads, etc.
First, have the insurance company give you the list they used to compile the value. Ask them how the determined the value if they didn't find any CR's for sale.
Second, go on the CR subform and ask members to send you any info they have about their recent sales. Receipts, ads, etc.
02-09-2017, 04:51 PM
#6
Value of a car is based on the same type of car locally for sale. Insurance companies will typically call 3-4 dealerships near your home and take an average from the quotes given by those dealerships.
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02-16-2017, 08:47 AM
#9
Actually, showing the insurance company ads for similar cars can help you. I went through this same process 3 years ago with a different car-you have to do absolutely everything to show them that your car can not be replaced for whatever they are trying to give you.
05-05-2017, 03:13 PM
#10
I was hit pretty hard in the rear from an angle at speed on the freeway, similar to a pit maneuver. I wasn't able to keep it straight, came around and hit the cement median pretty hard on the passenger side. The other car drove off never to be seen again, however there was a witness. The terrible thing is that I still have the quote from Hagerty, dated 3 weeks before the accident, with an agreed on value of $35k. Procrastination is a terrible thing.