my car got keyed!!! need advice
08-26-07, 08:31 AM
#1
Racer
Thread Starter
my car got keyed!!! need advice
actually my Mr2 not the lexus.
i need your advice on what to do.
my car got keyed about 2 week ago. 3/4 of the car. the claim adj est. the repair to be about $3400. they were suppose to give an answer a few days after the incident but took them a wk later. let alone the damn adj. was hard to get a hold of and refused to call back. anyways. i finally got a hold of them couple of days ago. he came back telling me that it's going to be salvage title. he stated that the damage was over the $2700 treshold and that the value of the car is only $3912. i refuse to accept this. 1. someone keyed my car and i refuse to be the victim and for my car to be of salvage title due to their punk@ss. 2. 93 Mr2 are very rare and should hold more value that than.
what could i do to prevent from getting a salvage title?
my car:
1993 Mr2 N/A.
interior is mint cond.
i searched and the avg selling price is between $4000 and $8000
retail value on kbb is $4900
thanks
i need your advice on what to do.
my car got keyed about 2 week ago. 3/4 of the car. the claim adj est. the repair to be about $3400. they were suppose to give an answer a few days after the incident but took them a wk later. let alone the damn adj. was hard to get a hold of and refused to call back. anyways. i finally got a hold of them couple of days ago. he came back telling me that it's going to be salvage title. he stated that the damage was over the $2700 treshold and that the value of the car is only $3912. i refuse to accept this. 1. someone keyed my car and i refuse to be the victim and for my car to be of salvage title due to their punk@ss. 2. 93 Mr2 are very rare and should hold more value that than.
what could i do to prevent from getting a salvage title?
my car:
1993 Mr2 N/A.
interior is mint cond.
i searched and the avg selling price is between $4000 and $8000
retail value on kbb is $4900
thanks
Last edited by GSing430; 08-26-07 at 08:35 AM.
08-26-07, 08:34 AM
#2
wait...wtf....salvage title because it got keyed? never heard of that before and dont insurance usually cover this kind of damage? obviously not caused by you and 3/4 of the car? they ran around ur car while pressing the key? sounds like some f-ed up kids.
08-26-07, 10:12 PM
#4
If you don't want the salvage title you will have to pay out of pocket. There really is no other way around it if you are trying to go through your insurance company. The fact is, if the insurace company pays more (Usually 80% of the cars value) than the car is worth according to their book value it will be totaled. It doesn't matter if it is actual body work or just paint. The fact is they are cutting a check for more than what they value your car for.
As for the actual market value of the car and what the insurance says it is worth, it can be different. Some insurance company will allow a negotiated value. That is you and your insurance compnay go over your car, check what other cars comparable to yours is selling for, possibly take into account rareness and maybe even after market parts, and between the two of you come to a negotiated agreed upon value of the car. In that case they will use that value. However, not all insurance companies do this.
PS. The fact that your insurance adjuster didn't return your phone cars tells me you should get another insurance company. Often if they are busy it may take them a day or two, but they should always return a phone call from a cliet. Not doing so is unprofessional.
As for the actual market value of the car and what the insurance says it is worth, it can be different. Some insurance company will allow a negotiated value. That is you and your insurance compnay go over your car, check what other cars comparable to yours is selling for, possibly take into account rareness and maybe even after market parts, and between the two of you come to a negotiated agreed upon value of the car. In that case they will use that value. However, not all insurance companies do this.
PS. The fact that your insurance adjuster didn't return your phone cars tells me you should get another insurance company. Often if they are busy it may take them a day or two, but they should always return a phone call from a cliet. Not doing so is unprofessional.
Last edited by CK6Speed; 08-26-07 at 10:17 PM.
08-27-07, 01:28 PM
#5
Racer
Thread Starter
PS. The fact that your insurance adjuster didn't return your phone cars tells me you should get another insurance company. Often if they are busy it may take them a day or two, but they should always return a phone call from a cliet. Not doing so is unprofessional.[/QUOTE]
tell me about it, i was so pissed. and when i got a hold of him he told me he'll get an answer the next by noon. i re-confirmed w/ him, yet 3 days later i had to call him again....
i will probably find a bodyshop to get a 2nd opinion on the damage.
tell me about it, i was so pissed. and when i got a hold of him he told me he'll get an answer the next by noon. i re-confirmed w/ him, yet 3 days later i had to call him again....
i will probably find a bodyshop to get a 2nd opinion on the damage.
08-27-07, 03:47 PM
#7
I am an insurance agent, and I can tell you, for them to pay over 3K of repaire on the MR2, it is totalled, depends on ins company, the way to determine if a car is total, is 60%-80% of the car's value. And a 91-92 MR2 can be had in my area for 3K ( non-turbo, I searched, since I am looking for one )
and there is no way around it, if at the time of insuring the car, you present a appraisal or receipt of parts, the car can be insured more than the value, but since you never did it, you are not going to get the value you want.
Moreover, why over 3K of repair on a keyed car? You don't need 3K to repaint the whole thing! My client's 02 CL500 got keyed around the whole car, and the paid out was 3500. My bodyshop can do my whole car for 15K and it is PDW lexus pearl white ( pearl costs more)
My suggestion, go find a bodyshop for cheap and pay for yourself, or let the insurance pay, and you get a salvage title.
and there is no way around it, if at the time of insuring the car, you present a appraisal or receipt of parts, the car can be insured more than the value, but since you never did it, you are not going to get the value you want.
Moreover, why over 3K of repair on a keyed car? You don't need 3K to repaint the whole thing! My client's 02 CL500 got keyed around the whole car, and the paid out was 3500. My bodyshop can do my whole car for 15K and it is PDW lexus pearl white ( pearl costs more)
My suggestion, go find a bodyshop for cheap and pay for yourself, or let the insurance pay, and you get a salvage title.
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