Insurance co. is trying to steal my truck ! What are my rights

[Outnumbered]

Most insurance is a scam. Just about every time I have had to make a claim I have got screwed one way or another. I quit making claims on small stuff and raised my deductibles way up.
Sounds like a raw deal. I would not have got full coverage on that truck. You could just get liability and put the money you save into an account to self-insure in the case it was stolen or wrecked. In just a few years your full coverage premiums will be more than you paid for the truck.

[wolfie]

This is really F'ed up.
I also have a 68 camaro that I fully restored myself.
when I bought insurance they told me that if i wanted it insured for over 25000.00 it would need to be appraised, so I just bought the up to 25000.00 stuff. But nowhere on the policy does it say anything about what the car is valued at. I bought the body for 800.00 and spent 23000.00 in parts to restore it.
Now it sounds like the insurance company could just tell me my Camaro is only worth 800.00 and screw the crap out of me if I ever have a claim.
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When you insure with a stated value below $25,000, that's what the value is. You pay a larger premium due to that so it'll be covered at stated value. You're right in the fact that you need an appraisal for anything over the $25,000 value. My wife use to work with American Family Insurance and we have my wifes car, the kids El Camino, and the Bronco insured through them with a stated value.
My father-in-law is doing a Mustang for the wife and kid and it's appraising at $50,000. We'll be going through a specialty company for the insurance on it.
Here's the wifes car. We had to state the flames and wheels to increase the value.
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Here's the kids car. We have a stated value on it.
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[wsm9808]

so what did you have the truck insured for? probaly a 1997 chevy truck stock with high miles.I can tell you this insurance company's are not in the biz of insuring one thing and paying on another.I would keep trying to get the payoff higher they hopefully they will give in alittle try changing adjusters r supervisors.
Ok, that is a fair statement and leaning towards the point of view that the insurace co. would have. Your point is well taken.
However, 120,000 miles is not high milage for a 97 vehicle. And the values in NADA and such books are average values for a particular condition and milage range for your area. Their offer, that they will not budge from, is below averge for even a fair condition vehicle. They refuse to concider the above average condtion of my truck and the curb appeal that anyone who is in the car business knows adds $ to the price of a vehicle at the time of sale. BUT, you can bet your a$$ if my truck had pre exsisting damage such as a kicked in door and smashed up rear quarters the insurance company would be marking even more bucks off the value.
The scales are sloped way too far to their advantage.
I did not try to decieve the insurance co by working on my truck. I have been paying premiums for 25 years thinking I was protecting my investments at a fair market value. That is all I am asking for. If they want to take my truck pay fair market for it or give me the money to fix it. After all, that is what their TV commercals say I am paying for.

[boatnam2]

Ok, that is a fair statement and leaning towards the point of view that the insurace co. would have. Your point is well taken.
However, 120,000 miles is not high milage for a 97 vehicle. And the values in NADA and such books are average values for a particular condition and milage range for your area. Their offer, that they will not budge from, is below averge for even a fair condition vehicle. They refuse to concider the above average condtion of my truck and the curb appeal that anyone who is in the car business knows adds $ to the price of a vehicle at the time of sale. BUT, you can bet your a$$ if my truck had pre exsisting damage such as a kicked in door and smashed up rear quarters the insurance company would be marking even more bucks off the value.
The scales are sloped way too far to their advantage.
I did not try to decieve the insurance co by working on my truck. I have been paying premiums for 25 years thinking I was protecting my investments at a fair market value. That is all I am asking for. If they want to take my truck pay fair market for it or give me the money to fix it. After all, that is what their TV commercals say I am paying for.
Yea it sucks but most ins companys dont want to pay or try everything to not pay fair amounts.Just like everything else its not about taking care of there clients but about making money for the greedy ceo's.

[havasu5150]

I had a similar experience with an insuance company about 10 years ago. 85 Toyota 4x4 was stolen, stripped ad trashed....totaled, The Ins co brought in a way low ball estimate. I refused to accept it. the negotiations were on. I wouind up getting $4800 when their initial offer was $2800.
In California the Ins co. is required to pay fair market vaule for the vehicle ... so some research and find out what a similarly equiped truck is going for in your area, and stick to your guns. My ins co ponied up once I threatend to take the to the insurance board in California

[polaris]

first thing i would do is get it to a body shop that you know so they can keep an eye on it before parts start missing or the storage fee starts running up you will have to pay to have it moved the ins co will not . then i would see what the ins company needs $$$ for you to buy it back

[wsm9808]

first thing i would do is get it to a body shop that you know so they can keep an eye on it before parts start missing or the storage fee starts running up you will have to pay to have it moved the ins co will not . then i would see what the ins company needs $$$ for you to buy it back
Thats the funny part. The truck is driveable. I put in a new radiator and my son drives it to school and back before dark. All it needs is a hood, grill and lights and misc brackets, core support and a/c condensor. The front bumper is not even scratched.

[Kindsvater Flat]

Do what I did. Tell the insurance company that if thats whats its worth then I'm willing to accept it only if they find the same vehicle with the same options with the same accessories and the same mileage for that price. You know cause thats what its worth. They ended up fixing my vehicle.

[ratso]

What Insurance Company? See what they will pay out and let you keep the truck... That might be your best route.

[Outnumbered]

What Insurance Company? See what they will pay out and let you keep the truck... That might be your best route.
He does not want to because they will total it and brand the title "salvage".