Hagerty Ins questions, Lost my 914 to Sandy |
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Hagerty Ins questions, Lost my 914 to Sandy |
nolift914 |
Nov 9 2012, 06:51 AM
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#1
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Autoxer Group: Members Posts: 183 Joined: 24-May 09 From: Rockaway Beach NY Member No.: 10,399 Region Association: None |
I had Hagerty insure my 914, which i filed a claim with. They said I could keep the car but the needed to put it up for bid to establish the cost for me to retain it. The bid came in yesterday $2600 (IMG:style_emoticons/default/WTF.gif). It is going to cost me $2600 to retain the car, who the hell would bid 2600 for a 914 1.7 the has been completely under sea (salt) water!!!!!
Trying to figure out if this is a real bid or a ploy by the ins company to reduce the claim payout!!!!! |
billh1963 |
Nov 9 2012, 07:02 AM
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#2
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Car Hoarder! Group: Members Posts: 3,402 Joined: 28-March 11 From: South Carolina Member No.: 12,871 Region Association: South East States |
Let it go....that 914 will be powder in a couple of years
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02loftsmoor |
Nov 9 2012, 07:17 AM
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#3
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Senior Member Group: Members Posts: 577 Joined: 26-June 11 From: Ft. Worth TX Member No.: 13,243 Region Association: Southwest Region |
it went completely Under?? if so it can be saved, take it apart and start cleaning.
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GaroldShaffer |
Nov 9 2012, 07:18 AM
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#4
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You bought another 914? Group: Benefactors Posts: 7,623 Joined: 27-June 03 From: Portage, IN Member No.: 865 Region Association: None |
Let it go....that 914 will be powder in a couple of years (IMG:style_emoticons/default/agree.gif) If it has been under salt water it is junk. There are plenty of nice ones to be found to replace your car. Take the money and run and whoever bid $2600 good luck to them. (IMG:style_emoticons/default/screwy.gif) |
wndsrfr |
Nov 9 2012, 07:28 AM
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#5
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Senior Member Group: Members Posts: 1,430 Joined: 30-April 09 From: Rescue, Virginia Member No.: 10,318 Region Association: MidAtlantic Region |
Let it go....that 914 will be powder in a couple of years (IMG:style_emoticons/default/agree.gif) If it has been under salt water it is junk. There are plenty of nice ones to be found to replace your car. Take the money and run and whoever bid $2600 good luck to them. (IMG:style_emoticons/default/screwy.gif) Please post your vin so that I don't bid on it and end up with a piece of junk thanks! |
mepstein |
Nov 9 2012, 07:50 AM
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#6
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914-6 GT in waiting Group: Members Posts: 19,305 Joined: 19-September 09 From: Landenberg, PA/Wilmington, DE Member No.: 10,825 Region Association: MidAtlantic Region |
Everything is negotiable - usually. Counter the bid with a bid of your own.
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hot_shoe914 |
Nov 9 2012, 08:16 AM
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#7
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on ramp passer Group: Members Posts: 3,802 Joined: 20-November 07 From: Earle, Ar. Member No.: 8,354 Region Association: None |
What was the payoff? A lot of times they base it on the percentage of the payoff.
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billh1963 |
Nov 9 2012, 08:21 AM
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#8
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Car Hoarder! Group: Members Posts: 3,402 Joined: 28-March 11 From: South Carolina Member No.: 12,871 Region Association: South East States |
Having lived right on the water on the coast since I was a teenager, I can tell you with some authority that you do NOT want any car that has been submerged in salt water. Fresh water is bad enough. Salt water has destroyed that car.
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Nozzle |
Nov 9 2012, 08:28 AM
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#9
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Member Group: Members Posts: 158 Joined: 6-November 08 From: Lexington Park, Maryland Member No.: 9,725 Region Association: MidAtlantic Region |
This makes me think of a time our Navy squadron did an acceptance inspection of a jet from a sister squadron. We found some corrosion that looked highly unusual and called in the experts from the Navy rework depot for an opinion. After 30 minutes with the jet they came back and told us to start strike damage paperwork for the bird (strike = never fly again). We said WTF and they said aircraft probably took a wave at sea while on the carrier elevator at the hanger deck level in the past and once that happens its only a matter of time before the jet is toast no matter how much reclamation you do to the aircraft immediately after salt water immersion. They said you are simply never able to get all the salt out of the frame and that's that.
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Tom_T |
Nov 9 2012, 10:36 AM
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#10
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TMI.... Group: Members Posts: 8,318 Joined: 19-March 09 From: Orange, CA Member No.: 10,181 Region Association: Southern California |
I had Hagerty insure my 914, which i filed a claim with. They said I could keep the car but the needed to put it up for bid to establish the cost for me to retain it. The bid came in yesterday $2600 (IMG:style_emoticons/default/WTF.gif). It is going to cost me $2600 to retain the car, who the hell would bid 2600 for a 914 1.7 the has been completely under sea (salt) water!!!!! Trying to figure out if this is a real bid or a ploy by the ins company to reduce the claim payout!!!!! The first thing to check is your policy terms. It was my understanding that Hagerty's policies were "Agreed Value" - which means you & H agree on the insured value, then any total loss claim pays you the full agreed value that you have been paying for over the years. However, you may have a "Stated Value" or other policy terms which allows them to discount that payment. I was able to keep mine + the full amount of estimated repairs (which was about 80% of est. value then as rolling restored just prior), & not have a salvage title, when it got whacked back in 85. However, that was a long time ago & things change over time & are different by state, and by situation. A bid of $2800 probably indicates a less than scrupulous buyer who will clean it up & resell it as a non-disclosed water damaged vehicle at a huge profit to the unsuspecting. You could impress upon them that fact & that the parts are mostly/all unusable, but you want to keep it for now for "personal reasons" & maybe they'll reduce it to a minor $200-500 cost/deduction. So even if you were to keep it for some parts - although I agree that salt/brackish water will have compromised everything in there - they would be of little value & hope not to see them end up on your future ride to give you problems, or if you want to fix it up you'll end up with a salvage title in all likelihood - which won't help post repair value, let alone future tin worm problems as others have said above. IMHO - take their money & go buy the best running 914 you can afford - there are some good ones out there! (IMG:style_emoticons/default/smile.gif) Good Luck! (IMG:style_emoticons/default/beerchug.gif) Tom /////// |
nolift914 |
Nov 9 2012, 01:10 PM
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#11
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Autoxer Group: Members Posts: 183 Joined: 24-May 09 From: Rockaway Beach NY Member No.: 10,399 Region Association: None |
Thank You all for your input, I have agreed value insurance. I just thought the bid price was way to high I figured I could hold on to it for $500 to $1000 and get the balance of the agreed value.
My VIN is listed in the VIN data base the car is apparently going to be picked up by copart So I am going to let it go, It was a northeast barn find mostly rust free all original 1.7 early (1969) production with the oil bath air filter. |
rjames |
Nov 9 2012, 02:16 PM
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#12
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I'm made of metal Group: Members Posts: 3,948 Joined: 24-July 05 From: Shoreline, WA Member No.: 4,467 Region Association: Pacific Northwest |
QUOTE A bid of $2800 probably indicates a less than scrupulous buyer who will clean it up & resell it as a non-disclosed water damaged vehicle at a huge profit to the unsuspecting. You could impress upon them that fact & that the parts are mostly/all unusable, but you want to keep it for now for "personal reasons" & maybe they'll reduce it to a minor $200-500 cost/deduction. The price definitely seems high for a car that was under salt water. We bought back a totalled car that had a blue book value of 5k, and it only had minor rear fender damage for $150. That was the supposed auction price. I don't know the value of your 914 before the water damage, but the estimated bid auction value I would think should be a lot lower thatn $2800 given what's happened to it. |
SUNAB914 |
Nov 9 2012, 04:34 PM
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#13
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Senior Member Group: Members Posts: 698 Joined: 29-December 08 From: Fredericksburg VA Member No.: 9,880 Region Association: South East States |
It would never fetch more than $500.00 at an auction, and that is if anyone knew what it was.
Good luck. |
nolift914 |
Nov 9 2012, 05:02 PM
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#14
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Autoxer Group: Members Posts: 183 Joined: 24-May 09 From: Rockaway Beach NY Member No.: 10,399 Region Association: None |
Looks like I will be lurking in the classifieds for a replacement.
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brant |
Nov 9 2012, 05:20 PM
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#15
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914 Wizard Group: Members Posts: 11,632 Joined: 30-December 02 From: Colorado Member No.: 47 Region Association: Rocky Mountains |
I'm so sorry about loosing your car
that sucks... I hope that the next one is even better than the last these silly cars have a way of eliciting an emotional attatchment |
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