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Insurance Question....

Discussion in 'The Lounge' started by TXsizeK5, Jun 25, 2003.

  1. TXsizeK5

    TXsizeK5 1/2 ton status

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    College Station, TX
    If you have an upgraded vehicle... say a K5. And you have money invested into it with reciepts and you get into a wreck and total your truck. (other persons fault mind you). Do you get reimburst for all the extra stuff you put into your truck? or do you just get blue book for it?
     
  2. Don

    Don 1/2 ton status

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    A Freind of Mine had that happen to Him. A 72 K5. He was involved in an accident which totaled the K5, He had it insured for around $20,000. The insurance company balked at this of course, it is'nt worth that much, it's old, it was never worth that much, on and on. He had a Good Attorney, Who after about 2 year's, finally had the Insurance co. by the Short one's, and They finally settled for the insured amount.

    Why the hell, when anyone insure's any vehicle for a stated figure, pay's the premium's for that figure, why doe's the Insurance co. fight it? They keep rebuilding, and reinsuring Home's that get whacked by a Hurricane, or the Home is Continuously, flooded out, but They still insure it, yet They Balk at a Vehicle? They are in business to make money, and don't really give a Rat's Rump about Us!

    Beat's the hell outta Me!
     
  3. 88Silverado

    88Silverado 1/2 ton status

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    Depends on the company.
    My cousin had put a lot of money in rebuilding her vette. Some lady ran a red light and t-boned it and totaled it. She had all the receipts showing the work and upgrades but the insurance offered a much lower value, slightly over high blue-book but no where near what was invested.

    Some companys will allow you to submit an apprasial for the vehicle and some companys will allow you to to specify a specific loss value.. The later ones are usually classic car insurers. Sometimes if you can get several comparative sales of similar vehicles, you have a chance on getting more money. Otherwise they will low-ball you and if you want to fight it it will cost you for an attorney and a few years to settle.
    An apprasial would be good way to go but even that will cost you a few hundered $$$
     
  4. ChevyCaGal

    ChevyCaGal 3/4 ton status

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    You can take out an extra policy for the custom parts. What I plan to do. Extra bit of insurance. Also, if you have a nice stereo system, bolt it down, and make sure you take pics. If you do that, chances are your home owners will cover it. I learned that the hard way....
     

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