lumpskie
Independent Thinker
That's what I think. If I ran across a clean 80 with only 169k on it, that would be a steal! My my brief experience, I've been finding rigs with over 250k on them going for around that price.
Totalled my 95fzj80... Looking for unbiased opinions of value to settle claim
- Thread starter cruiserfanc
- Start date
That's what I think. If I ran across a clean 80 with only 169k on it, that would be a steal! My my brief experience, I've been finding rigs with over 250k on them going for around that price.
Ovrlnd Rd
Adventurer
You make a lot of assumptions, like someone else is at fault. Most front end hits like that are from rear ending another vehicle. So should he sue himself? Just because you don't like insurance companies doesn't mean they're wrong on the value. He can go your route and sit without a vehicle for the years it takes a suit to settle or take a reasonable offer and move on. Oh, and I shoot mountain lions.
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Wow that's a bit strong if not a bit misguided. Unfortunately if you get in a wreck and you're trying to make an insurance claim, they are ultimately the ones with the power. Fixing a decades old truck with significant damage is not usually a winning bet for an insurance company for obvious reasons, and the sample size of clean 80s out there for comparison is minuscule compared with typical Toyotas of the same vintage.
Arktikos
Explorer
OK, thanks. I was thinking of a friend's experience many years ago, when someone hit his POS Celicia. He got a check from insurance for about as much as it was worth, and also got to keep it.
The rig was dinged up pretty good, but didn't affect its driving ability, so that's what he did-never fixed it.
Regarding value, found this wrecked 80 series linked below close to home that owner is trying to unload for 2K. So, maybe not such a bad deal that insurance company is offering.
Also noticed you own three other Land Cruisers. Shoot! Now they get a chance to be driven.
https://fairbanks.craigslist.org/cto/6164580780.html
cruiserfanc
Member
couple of pics of the accident. the second one show them using the jaws of life to cut the hood open (radiator was steaming) looked like smoke I guess. No one was hurt, thank goodness and believe it or not but they drove it out of the intersection to where the flatbed was parket to tow it away. The 80 really is a beast..
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Ovrlnd Rd
Adventurer
You sound like someone who may know this industry very well....
. Not being in the industry I agree, I had someone back into me in high school then make up some ridiculous physics deifying excuse on how it was my fault. Because the school cop for whatever reason wouldn't call him out on it my insurance paid me out minus deductible, sued his insurance company, then a few months later I got a check for my deductible back.Back to the OP, i think you are on the correct path looking for comps. Your payout is something you have to agree to so is a negotiation. Don't go into it to strong or they won't bother trying to negotiate but I'd find some comps and make a logical argument on how your payout couldn't replace what you had before the accident.
Ovrlnd Rd
Adventurer
You sound like someone who may know this industry very well....
22 years as an adjuster, trainer, team leader, branch claims manager, and then regional special lines claims manager. Every company is different on how they handle the minor stuff and then you have to worry about lazy adjusters that just want the file off their desk because there's 3 more a day coming.
MarcFJ60
Adventurer
Regardless who is at fault, if they are totaling it they need to give you the fair market value. Obviously, the FMV can be argued. But for them to use a single comparative vehicle with 120K more miles and say the value is the same is a joke. If anything, their own comparative vehicle shows your truck is worth more than 5K. There are different ways to determine FMV. In addition to KBB and NADA, there are companies that provide more tailored results to insurance companies for just this reason.
I can't tell you the best way to fight their estimate. Obviously there is a spectrum from ""polite negotiation" to "Your civil trial date is . . .:" I would find 3 similar vehicles, price and condition, and provide them with a letter to the insurance company stating my vehicle is worth X. In contractual terms, their estimate is merely an offer that you can refuse. In the same vein, you can counter offer with your own estimate.
I think you will also find many of the more sketchy insurance companies are harder to deal with than the established ones - whether it is your own company or the other party.
I can't tell you the best way to fight their estimate. Obviously there is a spectrum from ""polite negotiation" to "Your civil trial date is . . .:" I would find 3 similar vehicles, price and condition, and provide them with a letter to the insurance company stating my vehicle is worth X. In contractual terms, their estimate is merely an offer that you can refuse. In the same vein, you can counter offer with your own estimate.
I think you will also find many of the more sketchy insurance companies are harder to deal with than the established ones - whether it is your own company or the other party.
cruiserfanc
Member
yep, thats the intersection......at rush hour nonetheless....it was awful.
cruiserfanc
Member
I've provided them with 20 pages of side by side pics of mine vs their comp as well as 12 comps from 95-97 fj80s that are legit condition/miles/specs as mine. I'm 2 layers of management up the chain and dealing with someone who "gets it" or at least he understands my point of view and the argument that I have made. They are going to consider my docs and should know something in a day or two.
cruiserfanc
Member
I felt that you must have had some background in the industry from your replies to a lot of the comments. I think you've been pretty spot on with your remarks btw...
Heres my take......if you want an 80- simply find one with 170k miles on it in about similar shape with lockers. If you can show the insurance that the 3-4 available on the market to replace your wrecked one are all going for $6500-8000.....simply tell them that $5k wont buy a 170k mile one with lockers.
March down to your local Toyota dealer and get a printed bill for the lockers and locked diffs.
when they say that all of the similar mile unlocked cruisers in your area are $5k.....hand them the paper for how much toyota would charge to get the lockers and they will start to see that $7k is probably closer tothe value of your locked cruiser.
white is also the best color.....so tell them that all the green faded ones they are finding on the cheap at $5k wont work as the white is a premium color......and if they want to add $2k-3k for a factory level white paint job.....that they are still going to be pushing the $7k envelope.
the prices of these are skyrocketing. wish them luck finding a white low mile locked 80 for under $7k imho and hold your ground.
March down to your local Toyota dealer and get a printed bill for the lockers and locked diffs.
when they say that all of the similar mile unlocked cruisers in your area are $5k.....hand them the paper for how much toyota would charge to get the lockers and they will start to see that $7k is probably closer tothe value of your locked cruiser.
white is also the best color.....so tell them that all the green faded ones they are finding on the cheap at $5k wont work as the white is a premium color......and if they want to add $2k-3k for a factory level white paint job.....that they are still going to be pushing the $7k envelope.
the prices of these are skyrocketing. wish them luck finding a white low mile locked 80 for under $7k imho and hold your ground.