Topic: TRUE MARKET VALUE

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  • karenschultz’s Profile Photo
    karenschultz
    #1
    Apr 15, 2009 at 11:27 pm
    My 1987 Firebird Formula 350 just got hit by a large pick up truck.
    I got a good estimate from a Camaro/Firebird dealer at $2,500.00 to repair damages.
    The insurance agency has offered me $600.00 and have stated that this is the "True Market Value" for my car in good condition.

    Because Kelly Blue Book and Edmunds do not show TMV estimates for any car older than 1990, where else can I go to find the REAL true market value???

    HELP!

    Thanks.

    Karen

     


  • thejudge’s Profile Photo
    thejudge
    • Join Date: Apr 25, 2007 at 1:53 pm
    • Total posts: 433
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    #2
    Apr 18, 2009 at 10:16 pm
    insurance co's determine true market value
    if you have any other collector cars you must have a special policy for them
    go with a ins. co like Haggerty's that deal in collector and show cars. they will help you determine the real value of your car.
    if i had state farm regular policy and totaled my judge i would get about the same as you @ $600.00
    i have a Haggerty's policy on my car and if it gets stolen or totaled I will get $150.000.00 dollars that the real value that we came up with, and get this, Haggerty's costs less than the state farm policy.

     

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  • TravisBean’s Profile Photo
    TravisBean
    #3
    May 2, 2009 at 10:48 pm
    I hate insurance companies. Go to a couple of used car dealers and get letters from them stating what they would sell a cup cake of a car like yours for, and then take the insurance company to small claims court. This may or may not work, but when the insurance rep gets a summons to appear in small claims court, they might want to offer you a more equatable settlement.

     


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