Totaled Interstate Valuation

[Lily&Me]

I was hit by a tractor trailer on Thursday, and the trailer sliced off the front of the Interstate.

We were not hurt, but the conventional wisdom is that it is totaled. No damage to the other rig, and no injuries.

I have State Farm and expect eventually they will decide on a valuation to pay me for its worth.

I would like to be reasonably informed on this, and would appreciate any information and suggestions from the good folks here.

I would like to trust that they will do what is best for me but, alas, I am not of that much faith.

I am not looking to do battle, but would like to be armed with information.

Do I make a list of when things were replaced, etc., when service was done?

There are relatively new batteries and tires, a new water pump, 192,000+ miles, faithfully maintained...any help would be appreciated

Thank you in advance.

Maggie

[iaqstuff]

Sorry, Maggie. My experience is separate renewed items (like new tires, etc.) were not considered in the evaluation for a car/truck being totalled. Again, sorry for your misfortune, glad no one was hurt.

[Alex AVI]

Originally Posted by Lily&Me

I was hit by a tractor trailer on Thursday, and the trailer sliced off the front of the Interstate.

We were not hurt, but the conventional wisdom is that it is totaled.

I have State Farm and expect eventually they will decide on a valuation to pay me for its worth.

I would like to be reasonably informed on this, and would appreciate any inf9rmqtion and suggestions from the good folks here.

Do I make a list of when things were replaced, etc., when service was done?
There are relatively new batteries and tires, a new water pump...any help would be appreciated

Thank you in advance.

Maggie

MAGGIE,
Oh my. First and most important is you are well. As soon as I saw the title, my heart was racing. Never want to read news like this. No help from me on the valuation. Just advice with State Farm. Been with them for 45 yrs. Home, auto, rv, personal liability, life insurance. And full disclosure, when I was working in HP, they were one of my major accounts. So I know them professionally & personally. I have had many differing type of claims with them and not once had I ever felt I was getting shafted. Not the cheapest, not the most expensive, but all my dealings with them I felt they gave me fair compensation and in some better than expected (home, user caused water damage & wind driven rain damage). So I think you will be good. But still, get all receipts ready, especially not factory installed items of substantial value. Everything that comes from factory will be valued & depreciated accordingly. There's not much you can do about that. Please reach out to Jackson Center for help because they can give you replacement cost values (if your policy has that provision). Recent pictures of rig and improvements, kinda like what WACHUKO does, is not just for documenting thee steps, but records the improvement process. And it could mean the difference between condition=Good vs. condition=Very Good in their valuation report. Otherwise absent those, they revert to mileage as current condition of rig is not gonna help anymore.

Lastly, still get medically checked up VERY thoroughly, x-rays, cat scans, CBC just to establish comparison with your baselines if you get bi-annual physicals like me. And if fault was on the tractor operator, do not sign any settlement checks until your are medically cleared and legal counsel has ok'ed any settlement. And even if they ok it, you still have final say. State Farm & other carrier are gonna want to clear this off their books asap since no apparent injuries. But take your time evaluating if you feel all is fair before accepting that check. Consider this a negotiation, not much different than buying your AI. You do not have to accept the first offer if you are not satisfied. Big pain (obviously no pun intended), these accidents, no matter the outcome.

Best wishes!

[Al and Missy]

You probably already thought of this, but check the classifieds on here, craigslist, rv trader, and other online sellers, and Google your model year and model name. I usually figure on 5%-10% discount from private sellers and 10-20 from dealers off of asking price. Definitely try to avoid letting them get away with NADA book price.


https://www.rvtrader.com/New-And-Use...e%7C764828514&



Al

[Sebtown]

Ouch Maggie! As for valuation there is currently a 2005 AI on Craigslist SF Bay Area. This is a rear bath model listed at $44,750. Good luck.

[Lily&Me]

Thanks everyone.

Going to make a list of things to ask claims.

Maggie

[Lily&Me]

After it is emptied out on Tuesday, I’m going to take pictures of the interior and exterior, also bring all the service paperwork and coach brochures, etc., home with me.

Don’t know what documentation might be needed or questions that may be asked.

Maggie

[Alex AVI]

Originally Posted by Lily&Me

After it is emptied out on Tuesday, I’m going to take pictures of the interior and exterior, also bring all the service paperwork and coach brochures, etc., home with me.

Don’t know what documentation might be needed or questions that may be asked.

Maggie

Regarding your policy, check beforehand which option you took. It is what it is at this point, but knowing this ahead of time will give you realistic expectations on amount of settlement. #1 yields the best replacement, #5 yields the least (#5 is the default - market value w/ depreciation & all). There is just nothing anyone can do to tweak where you fall, whichever level of coverage you elected.
Best of luck moving forward.

Top 5 RV valuation methods:
1. Total Loss Replacement - New (You pick the replacement manufacturer, floor plan, and color)
2. Total Loss Replacement - Standard (Underwriter picks a match of your prior unit as closely as possible)
3. Purchase Price Guarantee
4. Agreed Value
5. Actual Cash Value

[Lily&Me]

Thank you.

My policy is, of course, at home, where I won’t be for several more days.

I know that I don’t have replacement coverage.

I need to learn enough to talk coherently with my agent about it.

Maggie

[wachuko]

I just want to chime in to say that I am glad you are okay, others can share legal/insurance advice.

Hope to see on another one soon.

[Tincampers]

Glad you are ok Maggie. Things can be replaced but you can’t.

[Alex AVI]

Maggie,
Apologies. Just realized the MY of your AI. It is well beyond any new/full/total loss replacement and in checking my AI State Farm policy confirms that they do not even offer it anyway. So moot point. State Farm is straight Collision & Comprehensive (w/ deductible) and valuation will be #5 Actual Cash Value. Same valuation method used on my 2018 as your 2006. For me, my AI is still rapidly depreciating this year & next 2. For you, the last 10 yrs. it's depreciation is very low from 5% to 2% last few years. So you not losing much from it's value 10 yrs. ago.

[InterBlog]

Sorry to hear about this - nobody should have to go through the likes of it. One thing to consider is that it will probably be worth more parted out than simply destroyed, because we know of no other T1N Interstate that is available for parts, some of which are simply not available anywhere. I don’t know if that could be a negotiation point for you or not, but maybe you could ask. At the very least it might help the ownership community to know where it ends up in terms of a receiving facility.

[AtomicNo13]

What? Nah! A good bodyshop might use the hot glue on a dowel method to pop that dent out....
Glad you're ok, but sorry it was killed...

[Air99]

So sorry to hear Maggie, I still remember you were the first one to welcome me to the forum. Wishing you the best and speedy recovery to travel again soon. Thinking of you!

[FlyFishinRVr]

First and foremost, as others have said, VERY GLAD you are OK. RV's can be replaced.....

As to settlements, not sure why so many people are concerned about YOUR insurance unless the other party was uninsured??? I was in a bad accident last summer and the OTHER insurance was the one I had to deal with, NOT mine. Now, if you just don't want to deal with it, you can call your insurance company, pay your deductible, and let them handle it because you'll be operating off of your policy and not theirs. Up to you, but unless you want to throw away your deductible, you should probably work through THEIR insurance (especially if the trucker works for a commercial hauler).

To that end, Alex gave you great advice. Even if you are feeling 100% perfectly fine, be sure to get checked out by your doctor, and when making the appointment, be sure to tell them it's because you were in an accident. This is a must, especially if you think you will need to negotiate later (and you likely will given the age of your RV).

Good luck!

[Lotus54]

Wow- very very sorry to hear this.
By glad you were not hurt.

I have an agreed on value of $60,000 for me 2006 (low miles superb conditionn)

If the suspension or frame is ok- I’m thinking it may be cheaper than finding another rear sleeper. Very hard to find

Of course, the sentimental value is likely more than can be placed.

Mark

[Lily&Me]

Thank you, everyone, and I wondered about the parts, IB.

The rig will end up in a lot in Pennsylvania, where State Farm will move it after I have emptied it on Tuesday.

The accident was my fault, so it’s State Farm I will be dealing with.

I have never had a major accident, but some smaller ones over the past 45 years or so, and they have never been a problem to deal with....but, this is a bit different so I would like to be prepared with some information.

I have also never totaled a vehicle.

Anything behind where you see the impact is undamaged, and there are custom book/magazine racks made of cherry built in behind the driver’s seat and in the lounge area.

I’m going to get some pictures of the interior once it is emptied.

All of this is very helpful, and I welcome any additional suggestions and information.

Maggie

[HUSK N TUSK]

The high mileage is what the insurance company is going to use to screw you...they won't care about magazine racks. They are going to do everything they can to pay you as little as possible...that's how the insurance business works, sadly.

[InterBlog]

Remember that those rear windows are made by a company that no longer exists. And matching the cabinetry would basically be impossible without an OEM source. The seats are ultraleather and would be valuable to either an Interstate or a commercial Sprinter owner. The jackknife couch in ultraleather would be a real find for someone. There are plenty of DIY vanners looking for recycled components.