CR EH

^

Your basically saying you get what you pay for. They base our premiums on what they value our cars at so we should be compensated for what they consider the car to be worth. If they say our car is worth $15,000 and we say it is to be valued at $20,000 then they could come back and say well then you owe us $$ for the difference in premium since its been covered and moving forward.

Plus if we make the insurance company's value our car higher then it would affect the rates for every owner. We would be shooting a bullet in everyone's foot for the sake of one insurance claim.

haga888

Yes and no. There are situations where they will accept that they did a terrible job at underwriting and will pay out current market value and accept the underwriting loss. It won't be easy to get them to accept this especially for 10+ year old Honda's. Having a car not depreciate in value annually is not normal. I have no idea what their underwriters use to value an S2000 but I'd bet the value they used this year was not higher than the value they used last year.

But if they do pay, they will ensure they don't make the same mistake twice and up everyone's else's premium.

turtlepower

This is all great information and advice... for myself and anyone else going through what I am. The past few days have been quite depressing as I feel a void driving my rental. Feels like a very bad breakup/loss with no closure. I dont know if I will be able to afford another s2000 given the market. I have even been looking at the 350z given a cheaper price tag. But I went to drive one today and it handled like a boat compared to the s2k.

I will certainly keep everyone updated on the process and outcome as it unravels.

Thank you sincerely!

S2KRAYZE

If you ever want to go to S2K meets, give me a shoot I'll pick you up in my S2K.

Himura357

Can your insurance replace it with another one, or do they only pay out in cash?

s2kt3

see I just went through this for my ls1 swapped s2000. you do not have to accept any offer they give you. PERIOD. this will only make them go back to the drawing board as to how to settle with you. if all else fails you will be locked into a mediation scenario, at which point the outcome is out of your control as the company that deals with mediation will have the final say. BUT in this situation, I wouldn't mind going there, because THAT is when you say I don't want to be paid I just want another s2000 same mileage and condition. If I read your ad properly the body has over 200k. which in this case means you wont get more then 12-13k for it.

don't settle first time out. that's always a low offer to feel you out and gauge your response (how bad you freak out). If your calm collected and have printed ads of other comparables to support your reasoning to ask for more money, you will have a greater chance at getting what you want.