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Thread: Need some help with a claim...

  1. #1
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    Exclamation Need some help with a claim...

    Hello everyone!

    I implore the members of this forum for help with determining an accurate value for a limousine. One of my clients had a vehicle declared a total loss. The at-fault party's insurance carrier is being very stubborn with regards to the true value of the stretch.

    The vehicle is a 2006 Chrysler 300 130", 49,000 miles, Pure White, (not cream, not pearl, Pure White) built by Empire Coach.

    Will those of you that have an understanding of this type of vehicle be so kind as to provide their opinion of what two parties (a buyer and a seller) would value this type of vehicle at in a mutual transaction?

    Your help is greatly appreciated. Thank you very much and have a great day,

    Phil

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    I had this exact year, model stretch with 54k on it, it was pearl white color. I sold it 20 months ago for 30K to a German buyer. In US, I was getting offers for 27-28k.

    Based on what I sold 20 months ago, this stretch should have at least a value of 25K as it has lower Odometer, it has pure white color, and I assume it has not seen NYC region.

    I hope this helps.
    ~Dee

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    Senior Member LIMOJESS's Avatar
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    $25K sounds right plus some loss of use.

    $30,000 would be fair.

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    If people wouldn't pull out in front of said limousine... I saw the photos. I'm surprised that they are calling it a total loss.
    Tim Wiegman, Jr.
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    There is a 2006 Chrysler 300 for sale on limoforsale.com that has 55k on it, is a 130 inch stretch, but black and built by Springfield and they are asking $27,900.
    Tim Wiegman, Jr.
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    There is another 10 passenger 2006 Chrysler that is white built by VIP Coachworks with 110,000 on it asking $32,000.
    Tim Wiegman, Jr.
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    I had our carrier purchase a third-party appraisal of the vehicle and it came back where we were thinking at a value of $32k. After confronting the at-fault party's carrier with this information they quickly changed their stance.

    The at-fault party's insurance carrier is behaving in a way that gives insurance companies a bad reputation, but I think we are making some progress.

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    Oh wow Phil, you are around....
    http://inthescenelimousine.com/
    Looking for an affiliate in the Phoenix market? We are at your service!
    Call me at 602-996-5466 - ask for Rachel

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    About 6 years ago I had a 2003 LTC got rear ended and totaled by a cab. Not our fault. But my insurance Northland wanted to give me $6000 for the car and I decided to go with the cab drivers insurance who offered me $8500 and plus i got to keep the car for parts.

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    Quote Originally Posted by LIMOJESS View Post
    About 6 years ago I had a 2003 LTC got rear ended and totaled by a cab. Not our fault. But my insurance Northland wanted to give me $6000 for the car and I decided to go with the cab drivers insurance who offered me $8500 and plus i got to keep the car for parts.
    This doesn't make sense. Why would Northland even made you an offer if the cab was at fault? You wouldn't want that loss on your record.
    Tim Wiegman, Jr.
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    I decided to go this route as Northland pays me, and the cab company company insurance pays northland. It was not at fault accident for us. Plus I had some loss of use too.

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    And now this makes even less sense.
    Tim Wiegman, Jr.
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    As an insured, you always have the option of making a first-party claim for your damaged property regardless of who is responsible for the damage. When making a first-party claim however, the insured is then less their deductible as well as unable to make a claim of loss of income as well as diminution of value against their carrier. Even when the at-fault party is insured, there are times when making the claim against your carrier is advantageous. For instance, if the insured wants to settle as promptly as possible and let their carrier handle recovery from the at-fault party's carrier then they will do this. Or there are times when there is no insurance coverage from the at-fault party.

    It still shows as a paid loss on your loss runs, however it does not weigh as much as if you had been responsible for the damage. If your carrier is successful in recovery from the at-fault party, then this is reflected in the loss history.

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    Thanks you Phil for explaining the way insurance works. I hope Tim understand it now. Sometimes you have to file the claim against your own insurance company when the other company is a B rated insurance company which does not even have a voice mail service.

    Another time i filled a claim against my insurance company was when one of our suv was rear ended by a state employee's car. I tried calling the state motor pool division and after two days of leaving messages, iI decided to call my insurance company who took care of the damage right away, gave me the money minus the deductible. I got the deductible after two months and did not had to waste my time going after the state everyday.

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    Phil and I have had many discussions about insurance and I understand what is going on, but the way you phrased it, Jess, it didn't make any sense to me. It sounded like you weren't even going to try to file a claim with the at-fault carrier.
    Tim Wiegman, Jr.
    Boulevard Limousine
    Travel Confidently!
    Serving Kansas City, Lawrence, Topeka
    http://www.BoulevardLimoKC.com - Kansas City Limos
    KC Airport Car Service

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