No insurance & damage question

[VeggieBullet]

No this is the story.
We just got this this AS and we are working on the restoration non stop.
Since we have it at home we didn't even have it insured yet!!
We have a mechanical issue with our truck while driving and we called a tow truck to pick us up and take the truck home.
While the tow truck was unloading our vehicle by accident it HIT the front end cap of our 1973 AS 31ft!!!!
It seems like their insurance will take care of the issue but:
The manager o the Towing company is saying that they will probably totaled and that we will only get about 1K!!!!
Not to go against any members on the forum that are in the insurance field But are we in a big lost situation?
Any suggestions?
We will post pics of the damage in few mins.

[Frank's Trailer Works]

Not sure if this will work, but you could have a professional write you an appraisal. I also think your home owners might come into play here. Sure hope this works out in a positive manor.

[VeggieBullet]

Is this really going to be a total lost?

[Ridgerunner3]

The tow truck insurance company is probably using NADA value for saying the trailer worth much less than the true market value. I don't know if it would help, but I would collect a number of listings of similar AS to show what the true market value of your trailer actually is. Documenting the true market value to the tow company insurance company may change their settlement offer.

[VeggieBullet]

Originally Posted by 62overlander

Not sure if this will work, but you could have a professional write you an appraisal. I also think your home owners might come into play here. Sure hope this works out in a positive manor.

Well in this case it really wont work.
And we did read every post in the whole insurance issue and this seems to be a totally new scenario.
Every thread out there is most of Owners dealing with their own insurance the the battle between Stated/Market/Book values.
What everyone is pretty much saying is to keep receipts and print every add of a similar AS for sale to determine the value.
Not sure what are the policies in these case

[VeggieBullet]

Originally Posted by Ridgerunner3

The tow truck insurance company is probably using NADA value for saying the trailer worth much less than the true market value. I don't know if it would help, but I would collect a number of listings of similar AS to show what the true market value of your trailer actually is. Documenting the true market value to the tow company insurance company may change their settlement offer.

That what we said. and fourtunately there is an 31fr 1972 with an almost gutted front area in a local AS dealer and they want 16k so we used that as a reply to the Tow Truck Manager and we said that "you don't really go thru the dealers prices..."

[Landshark]

Originally Posted by VeggieBullet

That what we said. and fourtunately there is an 31fr 1972 with an almost gutted front area in a local AS dealer and they want 16k so we used that as a reply to the Tow Truck Manager and we said that "you don't really go thru the dealers prices..."

Wow. A 16k trailer is good for your situation, but doesn't that seem awfully high for a '72 Sovereign with a gutted front area, even for a dealer? Gee, we practically gave away our '72 Sovereign then cause it was in great shape with everything there and original!

Hope your problem works out; it's really frustrating when the damage is no way your fault but you still end up suffering a huge loss.

Vivian

[VeggieBullet]

Originally Posted by Landshark

Wow. A 16k trailer is good for your situation, but doesn't that seem awfully high for a '72 Sovereign with a gutted front area, even for a dealer? Gee, we practically gave away our '72 Sovereign then cause it was in great shape with everything there and original!

Hope your problem works out; it's really frustrating when the damage is no way your fault but you still end up suffering a huge loss.

Vivian

Well until now we still don't know whats going on.
This guy is offering us a little cash that won't even cover the parts to keep it out of the insurance.

With his response of " you don;t really go by the dealer prices.."
We really don't know what to do....
It's been 2 weeks.
Is there any period of time that the accident has to be reported to their insurance?

[Friday]

If they caused the damage, their liability will cover it. It sounds like they are trying to avoid making a claim because it will affect their rates... perhaps by a lot.

This is a motor vehicle accident and should be reported to your local police to start. Then they can create a file and at least you will have record of it. Because you don't have insurance, you will have to fight for yourself - as there are no insurance companies to fight it out.

Keep a journal and write everything down. If they offer $1000, write that down.

As far as 'is my trailer totalled'? The answer could be yes. It looks nice from the two photos you show, but it is 40 years old. Even if it was worth $10,000 - that repair might cost $5000 done at a dealer. I don't know what kind of damage there is to the inside. Put another way... I've seen brand new Airstreams with the same damage being sold as salvage title on eBay... and those were $40,000+ units.

It's going to be tough to come up with a value on one that age - you may need to enlist an appraiser to give it the right value if you've done work on it already...

[VeggieBullet]

Originally Posted by Friday

If they caused the damage, their liability will cover it. It sounds like they are trying to avoid making a claim because it will affect their rates... perhaps by a lot.

This is a motor vehicle accident and should be reported to your local police to start. Then they can create a file and at least you will have record of it. Because you don't have insurance, you will have to fight for yourself - as there are no insurance companies to fight it out.

Keep a journal and write everything down. If they offer $1000, write that down.

As far as 'is my trailer totalled'? The answer could be yes. It looks nice from the two photos you show, but it is 40 years old. Even if it was worth $10,000 - that repair might cost $5000 done at a dealer. I don't know what kind of damage there is to the inside. Put another way... I've seen brand new Airstreams with the same damage being sold as salvage title on eBay... and those were $40,000+ units.

It's going to be tough to come up with a value on one that age - you may need to enlist an appraiser to give it the right value if you've done work on it already...

Well
We are also hoping that their Liability insurance will cover it.
We called the sheriff at that moment and according to Florida Law. Since it was in private property this becomes a Civil Issue and non a Criminal Violation as an accident on the road according to the deputy.
At least we got his card and we was a witness of the situation.
Now just wondering.
Isn't the whole insurance policy Fix it or replace it? and obviously we all know that you can't get an AS fo 1K!

[Foiled Again]

Replacing those sections at the factory would be at least $2600 just for the exterior panels. Send interior and exterior pictures to the factory and get a written estimate. Until about April, you might get good rates for this kind of work. Then the shop gets busy.

Since the interior panels aren't visible behind vinyl and furniture, they could be bent back into shape (95% good) and reused.

Surely the value on your unit is at least $3000 - more if you've replaced axles, plumbing, floors, etc.

Sorry this happened. Good luck.

In Virginia, small claims court can go to a max of $3000, so if your state allows, take the jerk to court and let the guy who hit you be liable for it, whether or not his insurance company is involved.

[FC7039]

Do you even know the tow service's insurance company? Best anyone gets this before hiring anyone, tow, contractor, etc. If not it may be public record if they have to be licensed. If you know, file on your insurnace and they will pursue the tow's insurance.

That is how car insurnace works. Police will not respond unless there is an injury. Who is at fault falls to the insurance companies. In the end, without satisfaction, lawyers have to get involved.

[Landshark]

Since this happened on your property, have you called your HO insurance company? If they pay, then they would pursue the tow company to be reimbursed. Your own company is often more inclined to give you a fair deal (especially when they can recover from a third party) than the third party. I don't think you have to have the A/S insured specifically when it is on your own property, it becomes just part of your general property covered by your HO policy.

But to get the best deal even from your own insurer, an official appraisal is probably necessary. (I say this even as my own trailers sit with no appraisal whatsoever. You never think the awful "it" will happen to you!)

Vivian

[Frank's Trailer Works]

Originally Posted by Foiled Again

Replacing those sections at the factory would be at least $2600 just for the exterior panels. Send interior and exterior pictures to the factory and get a written estimate. Until about April, you might get good rates for this kind of work. Then the shop gets busy.

The work will be absolutely perfect I might add. However the current aluminum will not match to your trailer.

[starcraft]

Only people that make out with NADA is stealerships and insurance companies. There is more value in scrap than grand. If you read bottom of NADA it says some units could be worth a lot more than value posted. How many AS go through auto auctions lol none. That is how they determine value. I had boat booked $4500 sold $13.500 and think they got cracking good deal on like new boat. Funny these boat were so rare you might see 2 for sale in summer used in nation. Think AS follow suit, replacement cost is your best bet find another similar unit for sale and go off that.

[garry]

You have the option of going to an attorney with your recipients and estimates and have them send a letter stating what your fair settlement would be.

I have had letters sent from attorneys get people off their butt and fix things on two occasions for the cost of sending a letter around $100.

[Inland RV Center, In]

Generally speaking, an insurance company is less inclined to total your rig, since it's a given case of clear cut liability.

In your case, it almosts sounds like the wrecker company is self insured, or no insure at all, and wants to get out as cheap as they can.

You might remind them, that when liability is an issue, not only for the Airstream, as in your case, but your hardships of most any kind, are also included. Loss of use, etc., is also included.

I would suggest that you employ a "GOOD" attorney, pronto.

Andy

[Lumatic]

After this is all over get an insurance policy for agreed value

[Inland RV Center, In]

Originally Posted by Lumatic

After this is all over get an insurance policy for agreed value

Biggest waste of money there is.....until.......... you need it, then it suddenly becomes a "best investment".

But, it also buys considerable "peace of mind".

Andy

[mccrosti]

Veggiebullet, please see the note I sent you privately.