Question
"Hi, the other day I was rear ended while driving my 69 mustang coupe, and the car was totaled. Which was unfortunate because it was in great condition, it had a beautiful 302 v8 (only 105000mi), an auto trans, a cd player, working air conditioner, great interior, and new tires. So I was wondering, can you tell me what questions I should ask the insurance company; and what should I look out for that might indicate the insurance company is trying to screw me over? Also Can hire my own appraiser if I'm not happy with their assessment of my vehicles value; and in your expert opinion, would the age of my car be a plus or a minus. because I think it's much more valuable because of it's age, but I'm not sure what the insurance company will think? And finally, starting from the time that I agree to their offer, how long will I have to wait to be reimbursed?
AnswerHi Bryan,
My first car was a '69 Mustang convertible. So my first thought is you need to kill the person that hit you. (just kidding)
The valuation of a classic car can be highly subjective. The overall condition, level of restoration (if any), running condition, etc. will all play a part in determining value. Most insurance company appraisers are not very experienced in valuing classic vehicles.
You should do some checking on your own before you get an offer. Then when you get the offer you will know if it is within a reasonable range. If it is then you're done. They will have you sign some paperwork and sign the title over to them and they wil send you a check within a few days.
If you do not agree with their value you can hire your own appraiser to appraise the value of your car. If needed you should visit www.collisionclaims.com for an independent appraisal.
I hope this helps
Richard Hixenbaugh
