Date: Sun, 22 Nov 1998 10:54:16 -0800
Reply-To: Beglins <beglins@MYHOME.NET>
Sender: Vanagon Mailing List <vanagon@vanagon.com>
From: Beglins <beglins@MYHOME.NET>
Subject: FW: What is a replacement value? (86 Westfalia)
Content-Type: text/plain; charset="iso-8859-1"
-----Original Message-----
From: Beglins [mailto:beglins@myhome.net]
Sent: Saturday, November 21, 1998 9:28 AM
To: Steven Minta
Subject: RE: What is a replacement value? (86 Westfalia)
As I do not know your ins. Co, the general rule is you have two options: a
monetary settlement or you have the right to "a vehicle of like value". The
2nd option takes work by you as you must shop for vehicles that you would
accept as replacements. Insurance co.'s do not like this option because of
the time factor for shopping. When I was a kid (16) I totaled a 74 Datsun
Pu. The adjuster who was in his 40's (my age now) offered me $1300. I had
bought it for $1600 which was a great price as it had only 25k on it. In my
ignorance, I mentioned that which fueled his argument. I called my brother
who was an ins. agent and asked his advice. " the monetary settlement is
unacceptable and my purchase price is NOT part of the discussion. I would
like a Pu of like and comparable value". He cringed at this as well as his
blood pressure went up 10 points. After a moment I revealed a list of
similar rigs that I would accept as replacements. The least expensive one
was $2300, (I also had Polaroid's of these). We settled for $2100! In early
August, my 84 Vanagon was rear ended on I - 5. The adjuster offered $2200. I
played the same cards and settled for $3100 or $2650 and I get salvage
rights. Option 2 worked for me as the only damage was the rear skirt, bumper
and a cracked exhaust manifold. Repairs ( expect for skirt which is the
panel that is below the bumper) cost approx. $400. I am driving which a
smile and am $2250 to the plus. P.S. the money from the Datsun paid off my
loan and enough left over to buy a 66 Ford Pu from a friend (which I still
have and is still running).
-----Original Message-----
From: Vanagon Mailing List [mailto:vanagon@VANAGON.COM] On Behalf Of Steven
Minta
Sent: Friday, November 20, 1998 2:13 PM
To: vanagon@VANAGON.COM
Subject: What is a replacement value? (86 Westfalia)
I'd appreciate the benefit of others' experience regarding an insurance
settlement for my totaled 1986 Vanagon Westfalia:
I have been negotiating with my claims adjuster as to its 'replacement
value' (if bought in or near Santa Cruz, CA). Consequently, I looked up the
Blue Book and IntelliChoice values _as guides_ to its fair-market worth or
replacement value:
BLUE BOOK Suggested Retail
$10,200
Blue Book Trade-in Value (excellent condition)
$6,050
...for California 95060 (Santa Cruz)
1986 VW Vanagon GL Camper (Westfalia)
150,000 miles
4 Cylinder Gas , 4 Speed Manual, Rear Wheel Drive, Power Steering, AM/FM
Stereo, Cassette, Premium Sound
similarly,
INTELLICHOICE Total Vehicle Value (adjusted) Retail
$7,760
(after the severe downward adjustment for mileage of -$1400)
Next, I looked up ads in regional papers (SF Examiner-Chronicle, San Jose
Mercury, etc.) and online sources. There were only a few '86 Westys, but
the asking prices were $8000+ for what I could determine to be a
_comparable_ vehicle.
I guess the real question is "what is comparable?" When I bought the Westy
several years ago, the engine and driveline were in very good condition
(despite the high mileage, and it gave me 20mpg), the suspension was in
excellent condition, the exterior was in excellent shape, and the interior
was in nearly mint condition. The single previous owner was anal-retentive
about maintenance and care, storing it in a garage, and he virtually never
used it as a camper (just freeway long hauls to visit relatives). There was
no rust, as the vehicle was kept in CA Central Valley, with trips to the
Southwest. At purchase time, we had two different Vanagon mechanics inspect
it, they both said we were getting a really good deal at the $7900 purchase
price. Absolutely everything worked. Since then, I have treated it like a
baby, only installing a new water pump and tires.
Now, my question is: Am I wrong in thinking I should get $7500 for
replacement? I have nearly given up on trying to convince the claims
adjuster that I can't replace it for his estimate of $6800, as nice as he
is.
Don't get me wrong, I'm not whining here--I've just never been through
anything like this. My wife claims that I fell in love with this vehicle,
therefore it is more valuable to me than any purely rational claims
adjuster!
Thank you for any advice,
Steve Minta
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