So, as some of you may know from a recent thread, my car took some significant damages recently. I have a buddy at work that has been through the same thing before with one of his jeeps. Ended up having to file with his insurance and they wanted to total the car for $2000 but he couldn't find another jeep simmilar to his for less than $8000. Well, same goes for my fiero and he wants to help me out as book value is much lower than I i feel it should be and he knows how to fight for what is right. But before we begin, it'd be nice to hear a value from a fellow owner. Looking for a cost to replace value, the cost to purchase another exactly like mine. So let me begin listing everything I see in my fiero.
Body is an '84 with 130k. Title/registration says mileage exempt. Could definitely use some paint. Car has all options except A/C. This includes Cruise control, rear defrost, Power windows, power locks, power mirrors, sunroof, etc. Engine is a crate engine super duty with marine block that has only 40k on it $??? 5spd getrag with brand new clutch, axles, timken bearings and seals. $??? Steel clutch pedalwith adjustable banjo. $75 Few cheap engine mods such as MSD, egr delete, custom dual exhaust with cat and muffler delete (i know, loud) approx. $1000 total all ball joints, tie rod ends, bearings/rear hubs are less than 3 years old/20k miles. $400 when new Brand new Koni coilovers in the rear with 350lb springs Brand new Koni shocks in the front with 325lb springs and 2" drop $1300 for both fronts and rears Poly bushings all the way around, including engine/trans and cradle mounts. approx $200 High end aftermarket stereo with custom installed 6 3/4" component speakers behind seats with cross overs. 5.25" speakers in dash with 4ch amp. cost me $1500 Aftermarket wheels and preformance tires, 2 years old with less than 10k miles. cost me $1700 Archies fiberglass headliner $100 APC racing buckets $500 DoubleC4's HID headlights with high end ballasts and bulbs $900
Listed prices for what I remember paying off the top of my head. I know they won't care about itemizing unless I have receipts for everything. I know I can scrape together receipts for $5000+ of parts if needed though. But we are looking for cost to replace, or cost to find a fiero in similar condition. of course there are many many hours put into this car. I have put my heart and soul into it over the past years. Of course, many of these parts can be removed if needed and replaced with stock, but that is alot of work. My value is much higher than what is actual obviously, so i need you guys to bring me back to reality.
Once again, looking for cost to replace or find a fiero in similar condition (if possible). I already know what insurance sees (book value) and the cost to repair current damages caused by third party.
My experience is that the Insurance holds no value on aftermarket items unless the car was insured that way. I hope that is not the case here but when I totaled my firebird some years ago, they could care less about the 3000$ rims, 6500 system, 1200 air ride or the 900 vertical doors. I wish you the best of luck getting every penny you can though.
My experience is that the Insurance holds no value on aftermarket items unless the car was insured that way. I hope that is not the case here but when I totaled my firebird some years ago, they could care less about the 3000$ rims, 6500 system, 1200 air ride or the 900 vertical doors. I wish you the best of luck getting every penny you can though.
~James
Insurance agent is a fellow fiero owner. They said it should be fine before I bought insurance
Insurance agent is a fellow fiero owner. They said it should be fine before I bought insurance
I know he's your buddy and all, but whatever he said is not worth squat now that you are dealing with a claim. It's all in the policy.
I know it's too late for you, but I tell everyone that full coverage means almost nothing if you have a custom Fiero. Agreed Value is the only way to protect your investment. They are going to go by book value and maybe a little more if you can document the excellent condition. But even that wonderful super duty means nothing to them, unless you insured it that way. Sorry.
People spend all that money fixing up the car, then cheap out on a $100-200 appraisal to insure their car for the FULL appraised value??
The appraisal is usually good for 5 years (value will go up or down if condition is improved or not maintained).
On my Indy, I had it appraised once it was driveable. Then got it appraised again after it was repainted 1 year later. If I put any additional significant work or money in it, I'd get a new apprisal even before the next 5 year mark.
My insurance co said I can register and insure it one of two ways, as what it is and book value it or do it as an antique/classic car and insure it for whatever value I want to put on it. It’ll cost more but when something like this happens I won’t be screwed…..unfortunately like the poster is probably going to be. Do what was mentioned before, buy it back, get a roller and start swapping parts.
These cars if they have any value anymore need collectors insurance with agreed value.
They are at an age where if you have anything invested it is going to be much more than book value. So if you do not have agreed value now you have seen in this case a warning.
Like so many others, Shill likely has grossly overestimated the worth of his expected returns on costs for normal maintenance of his Fiero, the worth of his expected returns on costs for numerous and sometimes pricey "custom" aftermarket items that he'd purchased for his Fiero (because he obviously liked them, even if everyone else doesn't), and something else which his insurance agency likely either won't care about, or even know how to put a value on:
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Originally posted by Shill: ...there are many many hours put into this car. I have put my heart and soul into it over the past years.
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Originally posted by DL10: How's that claim coming along......
Given that Shill hasn't posted on this thread of his for over two months, my guess is that a candid answer to your inquiry is "Likely not nearly as well as he probably had expected."
Given that Shill hasn't posted on this thread of his for over two months, my guess is that a candid answer to your inquiry is "Likely not nearly as well as he probably had expected."
I know, it isn't .....Maybe you missed his other 2 threads about it..
My experience is that the Insurance holds no value on aftermarket items unless the car was insured that way. I hope that is not the case here but when I totaled my firebird some years ago, they could care less about the 3000$ rims, 6500 system, 1200 air ride or the 900 vertical doors. I wish you the best of luck getting every penny you can though.
~James
WRONG, that's not the answer he wants to hear. NEXT!
I know he's your buddy and all, but whatever he said is not worth squat now that you are dealing with a claim. It's all in the policy.
I know it's too late for you, but I tell everyone that full coverage means almost nothing if you have a custom Fiero. Agreed Value is the only way to protect your investment. They are going to go by book value and maybe a little more if you can document the excellent condition. But even that wonderful super duty means nothing to them, unless you insured it that way. Sorry.
WRONG, that's not the answer he wants to hear. NEXT!
People spend all that money fixing up the car, then cheap out on a $100-200 appraisal to insure their car for the FULL appraised value??
The appraisal is usually good for 5 years (value will go up or down if condition is improved or not maintained).
On my Indy, I had it appraised once it was driveable. Then got it appraised again after it was repainted 1 year later. If I put any additional significant work or money in it, I'd get a new apprisal even before the next 5 year mark.
WRONG, that's not the answer he wants to hear. NEXT!
My insurance co said I can register and insure it one of two ways, as what it is and book value it or do it as an antique/classic car and insure it for whatever value I want to put on it. It’ll cost more but when something like this happens I won’t be screwed…..unfortunately like the poster is probably going to be. Do what was mentioned before, buy it back, get a roller and start swapping parts.
WRONG, that's not the answer he wants to hear. NEXT!
These cars if they have any value anymore need collectors insurance with agreed value.
They are at an age where if you have anything invested it is going to be much more than book value. So if you do not have agreed value now you have seen in this case a warning.
WRONG, that's not the answer he wants to hear. NEXT!
Like so many others, Shill likely has grossly overestimated the worth of his expected returns on costs for normal maintenance of his Fiero, the worth of his expected returns on costs for numerous and sometimes pricey "custom" aftermarket items that he'd purchased for his Fiero (because he obviously liked them, even if everyone else doesn't), and something else which his insurance agency likely either won't care about, or even know how to put a value on:
Given that Shill hasn't posted on this thread of his for over two months, my guess is that a candid answer to your inquiry is "Likely not nearly as well as he probably had expected."
WRONG, that's not the answer he wants to hear. NEXT!
As far as classic car insurance goes, it can't be a daily driver. Have to keep milage under 3k a year. I lone know cause that is what I'm going to do to mine. It is rather cheap, about the same as liability but it is full covered. May not work for everyone but I don't drive mine every day.
WRONG, that's not the answer he wants to hear. NEXT!
Kevin
why dont you add something helpful to this thread instead of constantly knocking others information... i'm tired of reading your constant WRONG, blah blah blah...
why dont you add something helpful to this thread instead of constantly knocking others information... i'm tired of reading your constant WRONG, blah blah blah...
Wut?
Lambo but was simply (well, somewhat obnoxiously) pointing out that the OP doesn't actually care about anyone's advice unless it agrees with his preconceived notion of How It Should Be.
As far as classic car insurance goes, it can't be a daily driver. Have to keep milage under 3k a year. I lone know cause that is what I'm going to do to mine. It is rather cheap, about the same as liability but it is full covered. May not work for everyone but I don't drive mine every day.
Each company is different but mine doesnt have a milage limit, I just cant use it to dgo to work etc as a daily driver. I could drive to a show in California though.
"Usage, Storage and Mileage Restrictions
Make sure that you ask about any usage, storage and mileage restrictions. Most collector car insurance companies, including Grundy Worldwide, will require that your vehicle be stored in a fully-enclosed and locked garage and be used for “pleasure and hobby use.” Pleasure use is driving your vehicle at your leisure, like going out to a nice dinner with your spouse, or taking a cruise in the country. And, hobby use includes shows, parades and different events. We ask that you not use your collector vehicles as your main means of transportation, but Grundy wants you to enjoy your vehicle. Some companies have annual mileage restrictions; however we offer Unlimited Mileage on all of our insurance policies. You can drive your car as far and as often as you’d like, as long as it is not used for daily transportation. We encourage our drivers to get on the road and remain active in the hobby." http://www.hotrodhotline.co.../2010/010grundytips/
I'm insured threw Giaco when I got it I told them it was costume and they asked me my estimated value I said 6k made my insurance a bit more but is worth it, mabye I should have said more?
Originally posted by DL10: How's that claim coming along......
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Originally posted by project34: Given that Shill hasn't posted on this thread of his for over two months, my guess is that a candid answer to your inquiry is "Likely not nearly as well as he probably had expected."
I actually didn't see his other two threads about it, DL10. Accordingly, thank you for providing me what turned out to be some eye-opening links to the other two of Shill's three threads he's already started on this same subject. I'll be sure to give his threads on this subject all the additional consideration they deserve.
