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Discussion Starter #1
Just wondering if anyone has any input or past experiences with a full loss on a NA8 Miata?
Our vehicle was parked in a usual spot at a parents house and was backed into/onto by a guy coming out of his driveway. The driver and his family not only witnessed the vehicle arrive and park, theyeven yelled and motioned to the driver to stop as he was blindlessly backing towards the parked car with music blaring.
The vehicle at loss is a black 96 with 160k mi with race lands and drag equip k.o.s that were on the car when purchased(lady's vehicle, coils/wheels were to be replaced later)
The Insurance is trying to pay us out $1k less than what the vehicle was purchased for just 8 or 9 months ago... And that's about $700 less than what the same year/mileage car goes for stock.

Anyone have any experience with insurance trying to give you a good bit below what actual available market value of your vehicle is?
I figure a miata for $3500, 94-96 with 150~170k, stockish, in decent condition is a pretty normally found price point nationwide?..

Wondering how a parked no occupant vehicle can be hit by an at fault driver and its owner now has to either choose to take a loss accepting cash on the vehicle and be unable to even afford a stock replacement... or get the vehicle back, fix it and take a loss on time, possibly more cash, and the car would now be rebuilt title and would have a lower resale value because of it.

Am I right to feel this as unfair?
is it unreasonable to ask for an adequately similar replacement be offered for the property that was damaged?...
Perplexed.
Suggestions?
 

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Insurance companies find KBB value or value of local miatas in your area with similar mileage and then low ball.

Usually you can get additional money for aftermarket parts if the person who hit your car has property damage coverage on their policy AND if you have receipts for those parts.
 

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The vehicle at loss is a black 96 with 160k mi with race lands and drag equip k.o.s that were on the car when purchased(lady's vehicle, coils/wheels were to be replaced later)

Am I right to feel this as unfair?
Keep in mind, you paid the insurance company to have it insured as a 96 Miata with 160K miles. Realistically, the value is around the $2500 mark. They don't care about the fake lowering springs and the fake wheels. They don't even care about how much you purchased it for. They care about it's value. If you can demonstrate the value, you might have a chance.

But yes, you can feel it's unfair if that makes you feel better.
 

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You definitely shouldn't settle for that. The purpose of the insurance company is to make you feel "whole" in spite of their party's "accident." In this case you would come up quite short. I would fight for the value of the car with valid personal experiences/modifications, local examples of roadsters in similar condition as yours was in, etc, in order to present a data-based case which will also induce some empathy on their end. After all, its not your fault and its a PITA to deal with.

In my case, my NA8 was deemed totaled and the other party's insurance dude tried to give me like ~$3600 initially. (I bought my car for that much.)
I said no way. I sent three emails fighting for the value of my car in different ways and when he finally got back to me, he offered me over $1000 more. I settled at that point. Maybe I could have gotten more, who knows.

I wouldnt go too deep into the list/receipts of parts you have, but def compare the vehicle to whats on the market now, and do so in a manner that gives you the upper hand! (;

Good luck.
 

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Back in 2008 (09?) when my 91 BRG was hit and totaled with 105k on the clock, my insurance company cut me a check for $6500ish. I only paid 4k for the car and had a full exhaust system. I took the money and ran.
 

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Discussion Starter #6
I've compiled a list of available private party and dealer cars within reasonable driving distance, going in today to talk.
I had my 97 m totaled at the end of 2014 with as many miles and got 5600$ for it, the other driver was completely at fault just like in this incident.... That's why I'm so surprised at this.
 

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Keep in mind, you paid the insurance company to have it insured as a 96 Miata with 160K miles. Realistically, the value is around the $2500 mark. They don't care about the fake lowering springs and the fake wheels. They don't even care about how much you purchased it for. They care about it's value. If you can demonstrate the value, you might have a chance.

But yes, you can feel it's unfair if that makes you feel better.
Do you need a hug or something?
 

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I went through something similar recently when my 350z was totaled. Insurance wanted to give me 6k for my car when the going rate for others in similar conidtion was about 9k. I just printed out multiple different ads of cars that were around the same condition as mine and sent them to my insurance, basically stating that I knew they were low balling the hell out of me. They "re-evaluated" my car's value and came back with a figure of 8k. Which is what I settled with. Just fight it as much as you can, most insurance companies will value you enough as a customer to give you a better deal.
 

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I've compiled a list of available private party and dealer cars within reasonable driving distance, going in today to talk.
I had my 97 m totaled at the end of 2014 with as many miles and got 5600$ for it, the other driver was completely at fault just like in this incident.... That's why I'm so surprised at this.
If you did any recent maintenance from a mechanic or yourself within 2-3 months before this incident, bring those receipts too.
 

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I went through something similar recently when my 350z was totaled. Insurance wanted to give me 6k for my car when the going rate for others in similar conidtion was about 9k. I just printed out multiple different ads of cars that were around the same condition as mine and sent them to my insurance, basically stating that I knew they were low balling the hell out of me. They "re-evaluated" my car's value and came back with a figure of 8k. Which is what I settled with. Just fight it as much as you can, most insurance companies will value you enough as a customer to give you a better deal.
Had to deal with same thing when my 95 Cobra got totaled around 2007. At the time the car had around 65k original miles on it. The insurance company sent over a low bid, and I pulled up a nationwide search pointing out a low mileage car is worth much more.

You should be paid a reasonable replacement cost, getting ads, and receipts for maintenance are the best things you can do to help your cause.

Good luck. I highly suggest buying the car back btw, most of the time it costs almost nothing.
 

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Discussion Starter #11
They wouldn't change on what they'd offer cash. But said they will release the car back and it not be a salvage title and give us the same cash. They put the damage at $2085 or something close to that... Just waiting to see if anything was more than cosmetic and go from there. Hoping damage wasn't done to something vital so we don't have to get a lawyer involved.
 

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They wouldn't change on what they'd offer cash. But said they will release the car back and it not be a salvage title and give us the same cash. They put the damage at $2085 or something close to that... Just waiting to see if anything was more than cosmetic and go from there. Hoping damage wasn't done to something vital so we don't have to get a lawyer involved.
I forgot to ask, they offered you property damage settlement without a body shop estimate?
 

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I forgot to ask, they offered you property damage settlement without a body shop estimate?
Insurance companies have estimators working for them, they are notorious for writing estimates lower than the final cost of actual repair. Most of the time all they do is write it up before the car is actually torn down which is when more damage is typically found.

A good body shop will also help you fight the insurance company, and can do things to try and save the car from totaling.
 

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In any case, you should not expect any very large sums. And a couple of years ago I contacted one company and insured my Toyota Prius there. And after a couple of weeks I had an accident and my insurance agent just told me that at the moment the company cannot pay me refund. And also I could not terminate the contract, as it cost about 1,500 dollars. So work only with reliable companies such as generalliabilityinsure.com and then you will get good insurance benefits.
 
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