RE: ow! value on 1982 320is

[neil <neil@xxxxxxxxx>]

...it was written:
>I've heard many stories of insurance companies offering lowball
settlements
>for Beetles and Sciroccos that were in exceptional condition.  I used
to be
>insured by State Farm, and when I asked how they would establish a
>settlement offer if needed for my Beetle, they told me it's based on
cars in
>the area in similar condition with similar mileage and features, etc.

The stories that you hear of lowball settlements are mostly just stories
told by pissed off people who took what was offered without trying to
support their case. This is circular logic (if you remember your
philosophy, that's when one must believe that the conclusion is true in
order to believe the premise).
Of course, there are reps (or even perhaps companies) who routinely
lowball, just as there are a few that tend to highball the figures.

Someone here suggested that, above all else, go to them prepared to
explain why it's worth X amount. This is the best advice. Period.
More advice:
Don't just grumble after the fact that you got screwed by the greedy
insurance company. Don't holler. Don't whine. Don't argue. Don't
threaten that you/your friends/family/neighbors/shrink/corporation will
take you/their business elsewhere if you're not happy. It won't work.
Accept the fact that your car just may possibly not be worth as much as
you think it is. Mint or not, some cars are just not worth much.

While it's true that cars similar to your <insert make & model> that are
for sale in your market area are sought to help establish a value for
it, that's not the only thing that is used. Some of the more unique cars
that had to be evaluated that I've seen recently include an Alfa Romeo
Milano in mint condition, and a 1967 Plymouth GTX (one of only 75 made).
Both would have been totaled if not for the other methods of evaluating.
It helps if the estimators/evaluator knows what they are seeing.
Once an evaluation of YOUR CAR (not average or "book" value), is done,
the normal guides include N.A.D.A. (not the printed books or website -
they are averages), specialty guides, experts in the field or on that
car, for sale ads, magazines, collector's groups, even the WWW. There's
maybe even more...

Bottom line, don't just say that it is worth whatever. Show them why.
Remember that they prolly don't know your car from any other old car.
Even most Bimmerphiles don't even know that the 320iS is worth anything
(cuz most 320's aren't).

That having been said, I must admit that I, personally would tend to
believe that a Scirocco or 320iS is worth more than perhaps your average
rep, but that's only because I am a fan of both, and would love to have
one myself.
- --
Neil Hitze
loafer by day, State Farm claim rep by night
'91 318iS
'87 325iS
'85 318i
stuff for sale:
http://www.hitze.com/~neil/forsale/forsaleindex.html

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