So my 92 GTA that I've owned for 10 years and spent countless $$$$ on not to mention about $7K recently to restore it, just got totaled I'm fine, but the entire front end is trashed, rock slide on a mountain road. Geico said it would be NOT at fault and an act of God. I'm waiting to hear from the adjuster today.

I ask this here because I don't know where else to go.

I have full coverage with $100 deductable. I have a list of all the aftermarket parts that are on the car as of the time of the wreck, about $12K. The $7K in NOS parts are not installed as I just the other week decided to sell the car and parts to chase a '57 Corvette, so much for that dream.

My question, who here has ever dealt with Geico on cars like ours with lots of $$$ into them? I am afraid of getting screwed over and not getting hardly anything back. What should I do? Ask to buy it back to strip the parts? Ask them to pay me for all the parts? I've never done a claim like this before. I towed it on a flatbed to my garage. Geico is going to reimburse me for that tow and then the adjuster is going to tow it to their repair shop to look over all the final damage.

Thanks!!!!!!

Alex

 

I heard from the claims adjuster and he says he is just going to come by my house tomorrow afternoon and have a look since it sounds to him like a total as well

I did the math and I VERY CONSERVATIVELY have $14K in just aftermarket parts on my car right now. I sent the adjuster a 100$ complete list of all of them with a cost. Worst case I think if he totals it, I'll buy it back, sell those parts for hopefully $7K then I still have all the factory parts to sell. It's going to be months of work to get some of my $$$ back out of it but I don't see another option.

 

ive heard that the insurance company only covers what came stock with the car. like if u have a aftermarket radio it wont be covered

 

I totalled a car many years ago and got the estimate from the insurance company and it was low. I just installed tires, gave them the receipt and they increased the value that much. As long as you have receipts to show the car going through a restoration, they will pay you for most of it. The problem is, some of these cars are worth a price in bad shape and it costs more to get them into great shape than they are worth in great shape. All restorations work that way. If you paid $2000 for rims and tires 8 years ago, you won't get full value in todays market due to depreciation. Just work with the adjustor and see what they are willing to do.

 

yeah, so long as you have receipts, and it seem like you have good documentation of the car from the beginning, you should get a better price, but, the book, on just a regular gta, not the slp options and NOS parts is only 4k, hopefully they dont try to screw your and lowball.

This is where real collector car insurance with agreed value come in handy. Something i really need to get one of these days

honestly, i really doubt they will pay you for all the aftermarket parts, to the tune of 12k. You may have to total it, buy it back and part it out

 

Well being the looser that I am, I don't have receipts for a damn thing, not even parts I just bought 30 days ago. I don't keep any of that because I never planed on selling it. I would have to print out all my GMpartsDirect, Spohn, Hawks, and ModernDayMuscle invoices from the last 6 months at cross my fingers lol. Even that would only cover a $5K-$6K of the parts on it though.

I'll post back tomorrow when I know. I won't be at my house when he looks because of work, but my GF will be.

 

I hear there are classic car companies who will
insure your car for whatever price you want
full coverage with an auto policy is funny
they can not tell you what they will pay you
for your car if it gets totalled
it is like buying something and you have no idea what the hell it is
you would most likely get more for the parts
less your time dealing them out and stripping
I would be interested to know if they will actually
pay you for your mods when you can produce a receipt

 

Bitch of it is that I was going to go with Grundy for $35K agreed value when I was done with the restoration, karma.....

 

Alot of us are in that boat - the few companies that will insure newer cars as hotrods or classics won't do it unless 1) it's garage kept, 2) you have a 2005 or newer daily driver car, 3) you stay under 3000 miles a year.

I have no garage, my newest car is a 1997 Camaro Z28 and I'll NEVER own anything newer as I refuse to ever have another car payment, a motorcycle doesn't count as a daily driver even though I ride year round, and 3000 miles a year won't get me to 1/2 of the car shows and cruisins I want to attend. Basically, I'm screwed. I've got well over $15k into my 92 RS, and that's all parts as I do my own work. So I said screw them, I'm not paying a dime more than I have to by law, and so I carry bare minimum amounts of liability, hardly even let the wife so much as touch my baby, and have alot of faith

Doesn't make alot of sense to me - give me what I want in insurance, and charge what you have to. Same with the freakin' medical insurance system - it's all a joke, that's why I don't, and will refuse to ever, have any of it either. Insurance is risk assessment - assess the risk and send me a bill. But today the world is a pre-packaged disposable society, and they have all the sheep so scared by crying wolf that they have everyone suckered into handing over good money for bad insurance products.

If you have a garage a newer daily driver, for your next project get insurance through a classics company where you can name the value you want.

And IMO - Geico wouldn't get a dime off me ever for any reason - I'd die before I gave those illegally operating jerks a cent!

I wish you the best of luck - as mentioned maybe the receipts will help. If Geico pays out nothing due to the "Act of God" excuse, then I'd talk to the state/county/city about reimbursement due to failing roads that YOUR highway tax dollars paid for.

 

Sorry to hear that you hurt your poor car buddy my mom got screwed over by the insurance company when her old sebring got totalled I know how it is... But as for the "act of god" accident claim to be an atheist? lol

 

Hey Alex,

Are you referring to the accident was NOT your fault and therefore is not a chargeable accident against your insurance so your rates will not increase as it was considered a act of God and there was nothing you could do about it?

Also what road were you on?

 

100% correct. HWY 178 through the Kern Canyon, about 15 miles East of the mouth of it.

 

Unfortunately GEICO will only give you book value for your car, which might be between $2-$3K. But I hope it is more for you.

That is why we should all insure with Classic Car insurance and have an "agreed upon value". I know it might be hard to get and there are alot a restrictions but its the best thing for our cars.

I have used http://www.americancollectors.com/. They are the cheapest and easiest to get. You can do it all online.

Thanks,

Rob

 

Bad news dude, I always thought your car was awesome, would love to have a SLP rig. Glad you are ok, it could have turned out worse. Death is an act of God but the life insurance policy still pays out!

Dont give them any slack, take that lizard and make the caveman eat it! (although being a caveman he may enjoy it)

I trust things will work out for you Alex, keep the faith!

 

Classic car insurance is basically for garage queens.

Those of us who enjoy our cars are SOL

 

Act of God only means that it isn't chargeable and falls under comp instead of collision. Before signing any of the papers with the insurance company to settle, contact the state and see what they will do. The fact that there was a rock slide shows that they didn't have the roadway protected. I'm not out for free handouts and I am definately not into "entitlement" thinking, however, you do need to look out for yourself in this case. You have a lot invested and if the insurance isn't willing to cover the cost, the state may be lible.

I know a guy that was driving on $3k custom rims. There were only a few sets ever made. The road broke up during rush hour and he couldn't avoid a huge hole that was created. He bent one rim when he hit it head on. The state paid him for all rims as he couldn't replace the damaged rim. It's worth checking into.

 

UPDATE:

The adjuster came and said it was $5K+ in damage and that's not even talking about the engine which is toast from lack of oil and rocks/gravel/sand going into the oil pan. He said just for that it will most likely be totaled out. Almost all the parts I need he entered into his system were showing not available anyway.

He said my buy back will depend on what the salvage value is. He is going to use a friendly Bakersfield salvage yard to get a much lower value vs. an LA salvage yard.

The amount they cut my check for if totaled is current market value, not book value. He said Geico corporate will determine that value.

He also said he can take into small account all parts I have on the car and to send him a list.

I will be hearing from him in a few days. Looks like I'll be parting her out

Thanks for the tip on the road issue! I doubt it though because it's a mountain road that has slides CONSTANTLY and is VERY dangerous in general. People die in wrecks on it monthly and I've never heard of anyone getting anything. It's a county road so I'll start there with my calls but I won't hold my breath.

 

dam that sucks hope you get what you need

 

Very true !!!

 

I have Farmer's "Collectors" innsurance on my car and they ROCK !!!

Few years ago my EX-mechanic crushed my cowl hood with his shop door,I sent the adjuster a GM quoute for a "new GM cowl hood" and they sent me a check for $1200 NO B.S

Dave

 

GEICO is tough !
Sadly Fair market value is what they are gonna give ya.
But they will let you buy the car back very reasonable.

Then they will prob. drop you or put you in their "risk pool sub-company".
Been there and done that !!!!!!!!!!!!!

But their rates are the lowest I have found from any company.........

 

I hoope the buy back is cheap lol!

The adjuster said because it was "Act of God" I would not have my premium increased or be dropped, I specifically asked. I plan on dropping them for State Farm anyway but I didn't tell the claims guy that. State Farm insures my Ducati, Life, and Renters. Geico had my Camry and Trans Am and I just hadn't switched them to State Farm yet.

 

Hello 92GTA!!

If the buy back is cheap, why don't you just rebuild the car, using the money that you get from the insurance??



If you never intended to sell the car in the first place, and just kept putting money into it, for upgraded parts etc, does it really matter how much that you've put into her??? Sure, you want money to cover your losses, but is it really a loss, if you keep the car???

Think of it as a "minor" set back, buy back the car from the insurance company, and use the remaining money to rebuild the car into what you want her to be!!!



Think of all the money that you spent on gas, you spend it, the car uses it, and you get some enjoyment!! Same as putting money into the car to rebuild it!!

 

Total repair came back $6,812.xx but that includes a used short block from LKQ junk salvage, not a new or rebuilt one

I'm still waiting to hear the final word on if they are going to total it or if they will cut a check for the $6,812 for the repairs...

 

I still think the collectors insurance is the way to go. I would rather get $15,000 for my totaled car instead of $5,000 no matter what adjustments to parking and driving I have to make.

I say buy your car back and make the repairs. Obviously you love your car and would get the work done the right way. Buying a new thirdgen would not make you happy.

 

If they give me the money to fix it I will, if not then I won't. I'm just done throwing money away at it. If I don't get enough to repair it right, then I will part it out and walk away.

I don't plan on buying a 3rdgen again anytime soon. I want something older that I won't keep loosing all the money I pour into it. I'm looking at a 1956 Corvette right now. That or I will get a 1969 Firebird. I'm just done with newer cars as projects, atleast until I'm rich lol.

 

UPDATE: It is officially totaled

Total estimated repair :$6,812

Geico's market value: $3,700 (he is getting a revised one that takes into account the $12K in upgrades I could prove, prolly won't go up much though.)

Buy-back salvage value: $still unknown

That's where I am today

I'm going to drink and have some friends drive me to where it happened with a candle for a memorial service

 

Hey guys I just picked up my 1992 Camaro, and I have my insurance through progressive but when I called I asked about a situation just like this. They told me at the rate I was getting they would pay me the market value no matter what I had done to the car, but I could insure aftermarket parts and have to keep all my reciepts for everything I purchased. They told me that if I were to insure $4000 in aftermarket parts it would bump my rate up from $180 to $269 every 6 months. I have no idea how collector car insurance works but this seems like it would work pretty good.

Also you can't really blame them for not paying for things they didn't know about when calculating your rate. I know it sucks but hopefully some people can learn from this. I would check with your insurance companys I'm sure they will all have something to insure aftermarket parts. Otherwise check with progressive they offered it to me, and I thought it was pretty reasonable.

 

Sorry to hear that 92GTA... I've always drooled over your car - you keep it very nice.

As far as I'm concerned on the insurance issue, I regard my car as an expensive hobby. I'm going to drive it as much as I can, knowing full well that if they total it (again) I'll just part the entire thing out and recoup what I can. Sad to think of the car as disposable, but it definitely makes the insurance bills lower.

BTW - mine was totalled with alot of front-end damage in 2003. I've been through 3 body shops, 2 paint jobs, an engine swap, and countless other $$$ and I'm still enjoying the car. There are things that will "never be right" - but my steering, road-handling, etc. is perfect. If you wanted a project and an excuse to modify, you have it now.

 

Holy crap guys! Awesome news! I just settled with Geico yesterday and my adjuster got me $9,300 AFTER buy back and my deductible!!!! Dude rocked it for me!

I still don't think I'm going to fix it though, the damage is just too severe, most especially to the frame and undercarriage. Even if I threw all the money in the world into it, it would just never be *right* again. Plus I've already sold some of my major parts I was going to use for my restoration so I think I'm just going to continue parting it out sad to say.

 

that sounds like some good news in this disaster.

that should be a good chunk of change to put down on that vette? you wanted. Its a shame that you will probably have to partout and scrap the car though.

 

Yeah it is. I paid the deposit on the '56 Vette last Saturday and I pick it up this coming Saturday. It's going to need allot done after being in storage for 25 years and this will go along way towards that. Atleast I'll have a car I can always get my money out of now.

I do totally feel guilty about not fixing the Trans Am but in all fairness I put it up for sale originally to do the old Vette and if I fix it I wouldn't be able to. I mean if I was selling it for $6,500 before, why sink another $7K into a patch repair and still only get $6,500 for it, tops. I still sucks though, I feel like I'm just doing wrong to the car

 

Damn, Alex, this sucks. Sorry to hear this.
'Been following your restore for years & now I'm wondering if I need any parts !
Good luck with the 'vette.

M

 

Really sorry to hear man

I'd probably go into depression if that happened to my car...

 

Thanks guys. I still can't bring myself to start taking anything off the car, it's really depressing I pushed it into the corner of my garage and put a cover on her. I know I'll sell the CD player but as far as any other parts, that's going to be a couple months. I need time to mourn. Deep down I'm hoping I'll forget about her and not need the money so I can end up fixing her in a couple years or more but life is never that easy. I already made the decision to sell my new Ducati that I'd be loosing $9K on easy if not more just so I can hold off taking my GTA apart longer

 

i need some advice from VA drivers if you are here?

this past friday i hit a tacoma in my 96 formula during 95s rushhour traffic at about 10 mph, so i went 'under' the truck, crumpled hood, smashed front nose, left light, car still runs normal. even fan was on with no problem after accident.... (may need a radiator or hose as after accident it was leaking fluid pretty heavily) of course only paint transfer to her bumper >ugh!

well, i have state farm, and according to the body shop, and the cost of 'insurance grade' parts they can get, he thinks state farm will probably total it

my only option monetarily at this point is to take the $, buy it back and reinvest into fixing it and pay the difference, mechanically my car was in very good shape.....just over 100000 miles, just had 'tune up' and only major repair ever was replacing blown head gasket during tune up...

now all my friends tell me im crazy to want to get it fixed, i figured someone here would understand and help guide me..........
1)is it 'worth it' to get it fixed (provided no frame damage, etc..) i think its mostly cosmetic, i can get a good deal on parts via a pontiac parts manager (usually gives me his 50% off deal) can i get a good many miles back on this?

2) can anyone in VA help me with info on the 'salvage / buyback/ title stuff' info..another words, can i keep a clean title? does a salvage title really mean anything? (can i get it re-insured, etc, probably wont worry about reselling)
any help or advice would be greatly appreciated
wendy1tiki@aol.com

 

frame should be fine I am guessing, since I hit a guardrail headfirst sliding sideways at about 70mph.
It was my brothers 96 Trans Am which I sold to him in 2001.
Accident happened in 03.
Needed the following, hood, radiator support, bumper cover, both fenders since they both cracked when the nose crunched in, a drivers side headlight assembly since it popped out and I couldn't find it, and I tapped the rear bumper as well since I did a complete 360 on the highway, so that needed to be painted.
Total repair cost back then was $6400

 

This thread has gone completely off subject now. I think the original poster's issue was addressed. Now the thread is being hijacked for 4th gen repair issues and and dealing with salvage titles. Sorry guys.