Guess the adjusters estimate to fix damage - 1938 Studebaker is settled

[39BuickEight]

I’m an auto (and property) insurance adjuster.  Every state is different.  Every claim is different.  Every insurer is different in their philosophy.  I’m glad I work where I do.  I’m allowed to do what’s right.  I enjoy claims where people love their paid-for cars.  Those people and I are one and the same. 

[Terry Bond]

On 9/5/2021 at 5:08 PM, SC38DLS said:

If my guarantee is 15,000 and it cost 5000 to fix and 5000 buy back I would still be 5000 in the good. The problem is it will have a salvage title is not worth getting the 5 grand. That is OK as long as its mine but selling it will be a hassle I do not want my family to have to deal with in the future. Hopefully that's a long time from now, but the way I mistreated this body in my youth it may not be that long! But it was well worth it. 

dave s 

Re read my earlier respone- you may not have to get a salvage title for an ins. buyback. Check the SC State laws on that yourself. 

Terry

[39BuickEight]

1 minute ago, Terry Bond said:

Re read my earlier respone- you may not have to get a salvage title for an ins. buyback. Check the SC State laws on that yourself. 

Terry

This correct.  KY just changed their laws a couple of years ago and now we require a salvage title on buybacks.  This is certainly a state by state issue.  If you are dealing with a national carrier, they may require it regardless.

[Robert G. Smits]

7 hours ago, edinmass said:

agreed value policies like I described for cars are common place.

I would agree with ED.  I have insured with Hagerty for years and all of  my cars are "agreed Value"  I don't think Hagerty even cares as to the actual value.  Lets face it you pay so much per $1000  The risk analysis computer program has figured out how much to charge per $1000 based on your credit rating, claims history, and so much information  about you that you would be shocked.  When I had cars in both Florida and Texas I had individual policies for both states and paid a lower rate in Texas where I am 100 miles from the gulf  

[Terry Bond]

1 hour ago, 39BuickEight said:

This correct.  KY just changed their laws a couple of years ago and now we require a salvage title on buybacks.  This is certainly a state by state issue.  If you are dealing with a national carrier, they may require it regardless.

Not sure the ins co can require something the state of SC doesnt.  As suggested, research the law yourself and be satisfied you are well versed in what is legally required in your case. 

Might I also suggest there are far too many arm-chair lawyers and cooks in the kitchen here. I'm going to pause and just wait for your final report Good luck.

[edinmass]

Let’s face it, insurance claims on pre war cars have never been, and never will be easy. It’s not difficult to price a 1966 Mustang..........or a 1971 Chevrolet Corvette. There is plenty of data, and competent shops to repair them........pre war.......not so much, if at all. With the market on many cars getting soft.........replacement for something that fills a void is a bit easier. 
 

As far as Dave’s title being “clear or salvage “ in my humble opinion it will have very little to no effect at all. With labor rates on pre war cars running from 85 to 250 dollars per hour depending on location and type of work......any car valued at less than 20k is probably going to be a total with just minor damage. Hell.......towing, storage, and time in writing the repair estimate could easily hit 2k in less than a week. I spoke to Dave on the phone a few days ago, gave him my point of view.........and what my choice would be. Fact is, the twenty years that separate our ages will make most of the decisions for him. Fixing the Stude with an unlimited budget is not easy......time, parts, and a willing shop are all very difficult to find. It could easily be 12-18 months before he gets the car back regardless of money issues. At this point......if he takes a direct payoff of 15k and walks, he is ahead of where he started, minus a car he would rather have than money. It’s better than being 25k in the hole and no car. Sometimes you need to look at the bright side.....he’s on top. Time will cure all the questions, and it will be interesting to see where it ends up. I wish the best for Dave........

Edited September 8, 2021 by edinmass (see edit history)

[MarkV]

On 9/3/2021 at 6:18 PM, SC38DLS said:

Car Crazy is close the adjuster says $28,480.00 !  They haven’t sent me the actual appraisal so I have no idea what this covers or why so high. They also have not given me a buy back but the lady did mention they normally are between

60-75 % of the guaranteed amount. If that is the case I will let them have it and start looking for another ride. 
dave s 

let me guess they are stating the entire car has to be repainted? They did that with two of my cars 

[Guest]

8 hours ago, edinmass said:

 

As far as Dave’s title being “clear or salvage “ in my humble opinion it will have very little to no effect at all. 

 If a 40 year old car was totaled 20 years ago, that means that the repairs exceeded the value of the car. In that case about $100 would do it!

 

 So, who cares if your valuable car had $100 damage and has a salvage title?

 Personally, I would love to but a restored 1957 Corvette with a salvage title for a heavily discounted price because of the accident!  😁

[8E45E]

On 9/5/2021 at 5:07 PM, SC38DLS said:

. One good thing I know the worst case scenario is I get a check for $15,000. Then I have to find another car and probably add cash too it and not let my wife know I’m spending more than what I got for the 38 !!!

Here's one!  Here's one!

 

1939 Studebaker Commander - cars & trucks - by owner - vehicle... (craigslist.org)

 

Craig

[SC38dls]

I received the estimate today - the final number is $26,796.98.  They have $16,025,00 to purchase a parts car included.  They also want to replace the hood, hood side panels, fix the radiator support, fix and re-chrome the front bumper, fix the headlights, repaint the whole front clip.  The hours spent doing these things is 56 hours on the estimate.  The buy back they want is $4500. So I would get $15,000 minus the $4500 = $10,500.  This would be a salvage title. If it gets fixed and inspected by the state they would issue a "SALVAGE REBUILT" title that is able to be licensed and insured in the state. Hagerty will not commit to insuring it after it is fixed but Grundy has said the salvage rebuilt title is no concern and they will insure it.  The $4500 buy back seems high and I did question it. The agent said it is "BUY BACK COST" not value. By that she said it covers their cost to get rid of the car on top of its value.  So the value is really about $3to 3500 and the additional cost is between $1000 and $1500 out of pocket to the ins co. Legalize for we got it covered. 

So here is my situation. I pulled the grille off the car and the 2 side panels are not damaged. They straiten out as soon as the pressure was off them. The hood slid back on one side at the hinge so just had to be adjusted. No paint damage on any of these parts. The frame is straight the bumper had the other cars paint on it and cleaned off with no problem. The front radiator lower pan was not damaged so just needs to be removed and put on new fenders.  Basically it needs the two fenders, grille, directional and fog light lenses and bulbs. 

I have found the Rt fender for $700, the grille for $400, the directional lenses for $60, the fog lamp lenses for $85. This is a total of $1245. I have a quote for the right fender being fixed and both fenders being painted if I remove them from the car and replace them myself of $2500. So my total outlay will be $3745 + the $4500 for a grand total of $8245. This will be a net gain of $15,000 minus the $8245 = $ 6,755.  I'm 75 if I drive the car another 5 years and then sell it for $5000 I am still whole with the car and got the fun of driving it for ten years. I don't have another $15,000 to invest on top of the ins money to buy a good running car at my age. I know this car's history and to me this fender bender does not devalue it enough to junk it.  Hell if I keep it and Hagerty needs a parts car I will sell it to them for $16,000 and be way ahead. So if I get a positive answer from Hagerty that they will submit paper work to the state saying it is rebuildable I am going to keep it.  I don't think a "salvage rebuilt" title is going to hurt me as much as I did before we started this conversation. Thanks for all of your input so far. I hope you will answer this last question. Am I nuts, crazy or just plain stupid?

Let me know what you all think. 

dave s                            

  

Edited September 7, 2021 by SC38DLS (see edit history)

[SC38dls]

Just one more look. 

[Paul Dobbin]

20 hours ago, edinmass said:

Paul, in the collector car world agreed value policies like I described for cars are common place. You don’t see them often on cars under 50k, but in forty years I have insured a lot more of my own cars than most........never had an issue with a chosen number. Try and replace a true 100 point car at any price, especially if it’s an off brand uncommon car..........the underwriters I have dealt with have always asked for a reason,  and when explained they understood the thought process and the risk. Having multiple cars and no claims for years helps.........I have a sedan insured for 350k, as that is what I have in it. It’s current market value....under 100, but to replace it is impossible.........literally in every sense of the word. I don’t want money, but in a total loss situation I will have a chance to be made whole.

 

You said you never bound coverage on something you haven’t inspected.........we couldn’t work together. I regularly buy high end cars, and have coverage at time of deposit .........and we are talking very high end vehicles.......seven figures plus. Customers who have insurable interest at that league won’t tolerate exposure to loss. On high end cars, AIG seems to be the easiest to deal with.............anything under five large doesn’t require a phone call ,just an email with a brief description. Personally, my own policy covers any new purchase for ten days........on cars up to 500k. Over that, they want a heads up.
 

What did you do for customers who go to an auction and buy five cars? They need insurance as soon as the hammer drops? On very high end cars, I have had binders written BEFORE we actually bought the car.........agreed that it’s not a normal situation.........but most collectors who have high end stuff ..........zero exposure is the only reasonable alternative.

     What you say us mostly correct, however for the guy who was referred to me and says I have a $50,000 car, we need to see it and 

     agree on value.  That's why it's called agreed value coverage.   Once we insure you and I have a customerl arrangement,

     the process is easier.  Remember the agent has to sell the risk to the carrier with photos and documentation as to value.

     With Collector Car policies the difference in premium is small when the risk goes from a $10,000 car to a $50,000 car.   If I had a

     client with a $1,000,000 car, I'm sure I would have to get prior approval to bind it.  Like most agents, I was a big hitter in family and

     small business insurance but to insure a big high end collector without a lot of other insurance relationships with me, I would need

     prior approval.   Having a on going relationship with your agent is very important.

     Most policies (auto insurance) have a "Newly Aquired Vehicle Clause" where by your purchases are automatically coverd for liability

     and physical damage up to the purchase price.  Then we could discuss agreed value.

     I never had a customer buy 5 cars at an auction, unless it was a dealer with a commoercial policy.  This discussion is about personal

     collector auto policies.   

     Note:  I've been retired 20 years and things can change and your agent may have more authority than I had.

[Zimm63]

Push back on the purchase of the parts car for $16K.  That would appear to be most of the problem with an excessive estimabe.  Strikes me that adjuster has no idea what it will take to deal with this issue.  

 

 

Edited September 7, 2021 by Zimm63 (see edit history)

[39BuickEight]

I would fix it too if I were you.  It seems just a matter of finalizing the numbers at this point.

 

 

[Frank DuVal]

I would push back on them "totaling" the car. If totaled they give you $10,500 and the car. Seems to me they can buy you off for a $9000 repair, which is 60% of the agreed value, which should not trigger a salvage title. Much easier paper work for them. 

 

But, what do I know?🤔

[8E45E]

2 hours ago, Zimm63 said:

Push back on the purchase of the parts car for $16K.  That would appear to be most of the problem with an excessive estimabe.  Strikes me that adjuster has no idea what it will take to deal with this issue.  

 

 

I've NEVER seen a 'parts car' Studebaker sell for that amount......Ever!!

 

Craig

[mike6024]

Looks like the car that was hit went right over the top of the Studebaker's front bumper.

 

 

[TAKerry]

Dave, sounds like a fairly good plan to me. You get to keep the car and you get $10,000. to make repairs that you hope will be in the $8k range. Enough money left over for a tank of gas and date night out to your favorite rest. !  The biggest concern I would have would be time frame, but heck, there are a lot of us restoring cars now that you can commiserate with.  As for the salvage title, that is only a concern when its time to sell, and it sounds like youre not worried about that at this time. Again, most cars being restored will have more body work than what youre getting into.  Good luck, hope it all works out.

[prewarnut]

I'm not sure I understand the math with the "buyback"....If you're not using insurance then that doesn't apply, correct? At any rate, easy for any of us to say as we're not in your shoes. That said, to me this is a no-brainer if I had the extra cash, I'd go the do-it-yourself route of removing the fenders, having them professionally repaired/replaced/repainted and sourcing the parts needed and re-installing either myself or with help. If the hit was further "in" now involving the sides of the nose, hood or bumper (other than the scratch) then probably game-over. This, I'd take as a personal challenge - I know we don't need that at 75 though....

[SC38dls]

Prewarnut I would use the insurance. 
The guaranteed amount is $15,000

i can buy it back and then fix it but they want $4500 from the $15000. Then I will have $10500 left over from ins and will spend $3745 fixing it leaving me $6755 left over from the original $15000 guaranteed payout 

if I put that away and sell the car in say five years for $5000 I would have $11755 which is more than I originally had invested in the car. I’m assuming a salvage title would devalue the car down to the $5000 figure. I would hope it can be higher but it doesn’t really matter as I will have the fun of using it for another five years. 
dave s 

Edited September 7, 2021 by SC38DLS (see edit history)

[bryankazmer]

They are offering you more than the expense of fixing the car.  You will have a repaired car plus cash.   Stop complaining.

[Paul Dobbin]

On 9/6/2021 at 1:35 PM, edinmass said:

Paul, in the collector car world agreed value policies like I described for cars are common place. You don’t see them often on cars under 50k, but in forty years I have insured a lot more of my own cars than most........never had an issue with a chosen number. Try and replace a true 100 point car at any price, especially if it’s an off brand uncommon car..........the underwriters I have dealt with have always asked for a reason,  and when explained they understood the thought process and the risk. Having multiple cars and no claims for years helps.........I have a sedan insured for 350k, as that is what I have in it. It’s current market value....under 100, but to replace it is impossible.........literally in every sense of the word. I don’t want money, but in a total loss situation I will have a chance to be made whole.

 

You said you never bound coverage on something you haven’t inspected.........we couldn’t work together. I regularly buy high end cars, and have coverage at time of deposit .........and we are talking very high end vehicles.......seven figures plus. Customers who have insurable interest at that league won’t tolerate exposure to loss. On high end cars, AIG seems to be the easiest to deal with.............anything under five large doesn’t require a phone call ,just an email with a brief description. Personally, my own policy covers any new purchase for ten days........on cars up to 500k. Over that, they want a heads up.
 

What did you do for customers who go to an auction and buy five cars? They need insurance as soon as the hammer drops? On very high end cars, I have had binders written BEFORE we actually bought the car.........agreed that it’s not a normal situation.........but most collectors who have high end stuff ..........zero exposure is the only reasonable alternative.

     What you say us mostly correct, however for the guy who was referred to me and says I have a $50,000 car, we need to see it and 

     agree on value.  That's why it's called agreed value coverage.   Once we insure you and I have a customerl arrangement,

     the process is easier.  Remember the agent has to sell the risk to the carrier with photos and documentation as to value.

     With Collector Car policies the difference in premium is small when the risk goes from a $10,000 car to a $50,000 car.   If I had a

     client with a $1,000,000 car, I'm sure I would have to get prior approval to bind it.  Like most agents, I was a big hitter in family and

     small business insurance but to insure a big high end collector without a lot of other insurance relationships with me, I would need

     prior approval.   Having a on going relationship with your agent is very important.

     Most policies (auto insurance) have a "Newly Aquired Vehicle Clause" where by your purchases are automatically coverd for liability

     and physical damage up to the purchase price.  Then we could discuss agreed value.

     I never had a customer buy 5 cars at an auction, unless it was a dealer with a commoercial policy.  This discussion is about personal

     collector auto policies.   

     Note:  I've been retired 20 years and things can change and your agent may have more authority than I had.

[Paul Dobbin]

Dave,

Obviously you and your two Golden Doodles love the car, you are right to get it fixed an keep enjoying it and the dogs.   It's a car not often seen and sure looked good before the accident.   Don't let a shop take years to fix it either.   At 75 we don't get many do overs.

[SC38dls]

30 minutes ago, bryankazmer said:

They are offering you more than the expense of fixing the car.  You will have a repaired car plus cash.   Stop complaining.

I’m not complaining regarding the payment but the way they have come to the final cost which may result in a salvage title. If they took more than a half hour to inspect the car to determine the estimate and then communicated in a reasonable manner I may not be upset. If you are buying a parts car that cost more than the value of the car you are fixing don’t you think something is wrong? If you go to a repair shop and they say a part with no damage has to be replaced and you were paying for it wouldn’t you say the shop was ripping you off? I just want to be fair and get the car fixed. It’s a driver not a show car treat it like one and repair it like one. That’s all I’m asking. 
dave s 

[dalef62]

If you do the buyback and fix it yourself and with body shop or friends help make sure you keep track of your hours worked.  As I said with my car, the insurance company wanted to know how much I spent on repairs before I could insure it with them.  When I showed them the parts receipts, they said that didn't add up to the payout, I told them I did the work myself and they told me to add that to the total cost of repairs.

Good luck!

[Frank DuVal]

Have the shop you were talking to write an estimate in the $9 to 10 K  range. What is the "total" percentage in your state? Make sure the estimate is less than that. Real estimate on their estimating software (or hand written, does anyone still do that?). Present to insurance company as your preferred shop. Tell then you do not know the shop they were using to write the estimate.

[MarkV]

11 hours ago, SC38DLS said:

I received the estimate today - the final number is $26,796.98.  They have $16,025,00 to purchase a parts car included.  They also want to replace the hood, hood side panels, fix the radiator support, fix and re-chrome the front bumper, fix the headlights, repaint the whole front clip.  The hours spent doing these things is 56 hours on the estimate.  The buy back they want is $4500. So I would get $15,000 minus the $4500 = $10,500.  This would be a salvage title. If it gets fixed and inspected by the state they would issue a "SALVAGE REBUILT" title that is able to be licensed and insured in the state. Hagerty will not commit to insuring it after it is fixed but Grundy has said the salvage rebuilt title is no concern and they will insure it.  The $4500 buy back seems high and I did question it. The agent said it is "BUY BACK COST" not value. By that she said it covers their cost to get rid of the car on top of its value.  So the value is really about $3to 3500 and the additional cost is between $1000 and $1500 out of pocket to the ins co. Legalize for we got it covered. 

So here is my situation. I pulled the grille off the car and the 2 side panels are not damaged. They straiten out as soon as the pressure was off them. The hood slid back on one side at the hinge so just had to be adjusted. No paint damage on any of these parts. The frame is straight the bumper had the other cars paint on it and cleaned off with no problem. The front radiator lower pan was not damaged so just needs to be removed and put on new fenders.  Basically it needs the two fenders, grille, directional and fog light lenses and bulbs. 

I have found the Rt fender for $700, the grille for $400, the directional lenses for $60, the fog lamp lenses for $85. This is a total of $1245. I have a quote for the right fender being fixed and both fenders being painted if I remove them from the car and replace them myself of $2500. So my total outlay will be $3745 + the $4500 for a grand total of $8245. This will be a net gain of $15,000 minus the $8245 = $ 6,755.  I'm 75 if I drive the car another 5 years and then sell it for $5000 I am still whole with the car and got the fun of driving it for ten years. I don't have another $15,000 to invest on top of the ins money to buy a good running car at my age. I know this car's history and to me this fender bender does not devalue it enough to junk it.  Hell if I keep it and Hagerty needs a parts car I will sell it to them for $16,000 and be way ahead. So if I get a positive answer from Hagerty that they will submit paper work to the state saying it is rebuildable I am going to keep it.  I don't think a "salvage rebuilt" title is going to hurt me as much as I did before we started this conversation. Thanks for all of your input so far. I hope you will answer this last question. Am I nuts, crazy or just plain stupid?

Let me know what you all think. 

dave s                            

  

Take the money fix the car. Salvage title will not matter to any collector as long as everything is documented. They total out for anything these days. 

I just bought a restorable 1940 champion for pennies where are they coming up with $16k for a parts car? Lol 

[Buffalowed Bill]

For me it's a case of forget the money and fix the car! Worrying about how much you may win or lose in the process doesn't do justice to the car or your connection to it. There are probably a dozen people reading this thread who are in the process or restoring or consider restoring a car that they know that they will be under water by the time the project is completed. The numbers that you are talking about are miniscule. I know we Studebaker owners are considered to be cheap, but I think this is a stretch too far!

 

[Janousek]

Those fenders are fixable but I'd want them on the car and have the new grill for the initial pulling.   The metal generally wants to go back to it's shape with methodical bumping.  

 

That would be easy pickins for 28,000.  

[Buffalowed Bill]

I hope my last post was not too heavy handed, but I think you will repair the car because you want to. There are too many things that are pulling you in that direction. First there is the emotional aspect. Speaking for myself if one of my cars, which had become a family member, was in an accident, which was my fault, I would feel obliged to put it back together, just out of general principles (I've gone much further with some of my cars then is required on this one of yours). Emotions notwithstanding, common sense says just do it.

1) Damage is localized and effecting only tin. The catedral headlights weren't even damaged!

2) You were able to procure some very rare parts that would be essential to the project. I assume you were able to come to terms for the NOS fender that RQ had for sale. I also hope that you got the beautiful grill that was on eBay. At least you should have, it is game changer.

3)You are already way under the anticipated insurance purchase price for the parts-leaving a substantial cousin. 

4)You have lined up someone to repair the fender. I assume that he qualification necessary to do the job.

Sorry to beat a dead horse, but if you don't repair the car you will regret your choice.

Bill

[SC38dls]

Bill my main concern was the salvage title- in SC there are two kinds of salvage titles - one is designated parts only and the other is repairable. It depends on how the insurance company puts in the paper work based on value. At $26,800 it is almost double the value and therefore requires a parts only title.  If they remove the parts car of $16,000 and the premium on line items for the parts car of $1600 that will actually put the value of the repair at $9200. With is below the required salvage amount in SC. I would take the $9200 which saves them either $5800 if I don't buy it back or $1300 if I did buy it back. I would not have to worry about the title as it would not have to go to the state for any checking. I am waiting for the ins co to get back to me, hopefully soon.

dave s 

Edited September 8, 2021 by SC38DLS (see edit history)

[Paul Dobbin]

It's my understanding in the states I practiced in,  A total loss would occur when the damage exceeded 75 % of the vehicles value.  Not the amount of insurance.  If they were going to buy a $16,000 parts car, obviously yours was worth more than that.  Even 75% of $16,000 is $12,000 in damage.

I don't see how they could total it without that rediculous estimate.    I'd write to Hagerty' s President and have him read this thread.

[60FlatTop]

I have been thinking about my situation in a similar event. As I stated, my biggest fear is the bureaucracy of the motor vehicle department and laws on the state books. Around here parts used in a title inspected rebuild need cradle to grave documentation of their source including VIN numbers of the donor. You get the wrong inspector on the wrong day and you and your title will be banished to that back booth in McDonald's where the gray haired guys sit every morning, in Purgatory with no ticket out. A real good reason to back away quietly.

 

My lucky spot is that New York State didn't start titles until 1973. Nothing before that has them. My older cars are safe from The Knights of Consumer Protection in any situation. Whew!

[Fossil]

The car in my avatar was purchased from an insurance auction. It was totaled by them. The only body part I had to refabricate (make one out of two) was the rear fender. Also some gears in the differential were damaged. The rest was just a matter of straightening and some welding. I don't think that insurance companies want to mess with these vintage automobiles or unhappy owners when they aren't repaired correctly. 

[Buffalowed Bill]

Dave,

 

Sorry I'm just not buying into the salvage title argument. I assume that you are doing this for your family's enjoyment and not for resale. For those of us who have been in this old car game for a long time, the value in an old car is determined by the quality of the work done and the car itself. For most of us the question is whether the tile belongs to the seller and the ID numbers validate that the title is not for another car. You know the history of the car and you can document with photos what happened and when. You have at least as much history of the car as most of us have for our 85+ yo cars.

 

If I were buying the car from you, after the work had been completed, I would file the title story away as an interesting part of the car's history and then go on to what I felt was really important. The whole process of buying, selling, titling and insuring an antique car with a salvage title is much different then dealing with a newer car, which is going to be driven daily.

[Frank DuVal]

3 hours ago, Paul Dobbin said:

I'd write to Hagerty' s President and have him read this thread.

Excellent suggestion!

[Janousek]

It's been a few years but I used to rebuild totals and sell them to friends and family.  In Michigan if a vehicle is totaled and the owner buys it from the insurance company the title never changes to a salvage.  At least it used to be that way.  Last couple I did were clean title wrecks so I've been out of the game for a decade.  

[Fossil]

I don't know when they started releasing salvage titles but I'll bet there are quite a few people out there driving vintage cars that were involved in accidents at one time in their history. Back in the sixties it took a really nasty hit to total a car. We put some back on the road in our body shop that would have never been touched today. If you found one of those now in nice condition at a good price you'd be very happy. 

[SC38dls]

I made a proposal to Hagerty that reduces their exposure by $5500 if I did not buy the car back or by $1100 if I do buy the car back. The total damages of $26700 minus the $20,000 for the parts car ($16,000 to purchase and $4,000 markup) plus what I would spend on parts $2600 .

I will release them from any other damages found in repairing the car so they do not have any more exposure.  I get enough to repair the car completely and a clean title. They get a reduced cost and less state required paper work and hassle to get rid of the car at auction.  I believe this is a fair settlement and hope they do too.

dave s 

Edited September 14, 2021 by SC38DLS (see edit history)

[lump]

5 hours ago, SC38DLS said:

I made a proposal to Hagerty that reduces their exposure by $5500 if I did not buy the car back or by $1100 if I do buy the car back. The total damages of $26700 minus the $20,000 for the parts car ($16,000 to purchase and $4,000 markup) plus what I would spend on parts $2600 .

I will release them from any other damages found in repairing the car so they do not have any more exposure.  I get enough to repair the car completely and a clean title. They get a reduced cost and less state required paper work and hassle to get rid of the car at auction.  I believe this is a fair settlement and hope they do too.

dave s 

Wishing you the best of luck.