On Fri, 18 Apr 1997 10:49:45 -0500 Scott.Mackay@SEMATECH.Org writes:
> OK guys, I can use your help.
>
>
> What I need is a solid $$ value for the car so I can preempt the
>insurance
> company in the totaled value. Does anyone have a good
>recomendation for
> where to look to get an estimated value?
>
> Thanks,
>
> Scott Mackay
>
>
Scott,
The CPI (Cars of Particular Interest) guide is used by many banks to
establish bank loan values on classic/collector cars. It is a fairly
conservative value guide and the new listing for TR6 in excellent
condition (almost show) is a little over 10K.
The value guide is the just the starting place. Make sure that you
prepare a property damage package that includes lots of pictures and
receipts for work done to document the condition of the car.
Last year I was able to negotiate a $13.5K total loss value for a client
who totaled his very nice driver TR6, and he got to keep the salvage. Oh,
that's another point. The insurance company will usually want to sell you
the salvage back at a pretty high price. Make sure that your negotiations
with them include discussions about that as well!
I spoke with a TR owner at a show last weekend who had lost his 30K mile
original TR6 to a similar incident, and he was able to settle with the
insurance carrier for 15.5K!
I think that you might consider hiring an attorney to process the
property damage portion of the claim for you. I know that I have been
able to negotiate many PD claims for members of our Triumph club over the
years after the insurance company had insulted then with a $1K settlement
offer.
Larry Miceli
'76 TR6
'73 Stag
'66 Herald
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