Oh...Stan, I forgot to tell you---in this state we have a law that if a vehicle's damage is more than half of the listed book value, the title gets stamped as salvaged vehicle. No car dealer will take it on a trade, and few banks will write a loan on it for a buyer via sale outright.
I have no intention of selling or trading for a look long time.
That may cause you a problem if the insurance tries to write it off.
When I insured the new float I got into the conversation with the insurance sales rep on who assesses the damage and fixes the insurance payout value which is market value before the accident. Keeping in mind my float is made in Wales and has no chinese parts and is a renound brand name in Europe.
Not name dropping or slaging any other, but here in NZ they are getting the parts made in China and assembling the wheels here under NZ brand names and some of them don't last.
Back to his answer, the insurance rep said, wait for it, and its common, they get a secondhand car sales man
to fix the market value and payout on what the carsales would have paid for the car if buying it.
I saw red and asked the rep what the flark would a second hand car sales man know about the value of a horse float. We parted company on a very good note I told him if they tried that with me we would have a long session in a court room. One of mates was a secondhand car dealer in his own right and their objective when buying is to get it as cheep as they can and to sell it for as much as they can.
In the NZ second hand car industrie they have a little book and it lists all of the brands, the vintage, and puts a price on the vehicle. What most sellers don't know, that price is the top price they will give as a trade in and some of the insurance companies follow that little books valuation when paying out. They only pay out what the secondhand car dealer would give for it. The true market value is the reasonable price a dealer would display on the vehicle windscreen or adertise it for when selling it.
NOT when he buys it from someone as a trade or a straight purchase. So check out the price your vehicle would be sold for given its condition and then present the true market value to the insurance company, if it is better than what they have offered.
The person who slamed into you their insurance should be paying out should they not, and if so, ask them for a vehicle that will tow the horse trailer as a loaner for you to get around in at their cost while yours is being repaired or replaced. It was their customer who put yours off the road.
In NZ, two years after the Christchurch earth quakes, and after being taken to court one insurance company has been ordered by the high court to pay out the replacement value on a home damaged by the quake.
The insurance company took the attitude that they could repair the house even though it was in what is called the red zone, that is land that has been assessed by the government as now unstable for any building and not habitable.
The insurance tried to get out of paying because they could repair it, but the claiment would not be able to live in it. The wording of the policy was replacement or repair and as the land was unstable it should have been replaced on a different piece of land, in a safe area. Insurance companies are in the business of making money. We all have to keep that in mind.
In NZ we have a watch dog on TV called Campbell live. When he gets his teeth into something he shakes it untill it rattles. We also have a show called fair go, does the same, if one feels ripped off by a company they investigate and will air the issues. Living in a small country does have an advantage. If a company rips someone off, that company risks the whole country knowing about it. Not good for business.
Good luck with the truck.
Hope you look after your husband as well as your truck.
the old truck that would be worth a mint here in NZ.
Well enough rambling one would think I have nothing better to do when I have. I'm going to get into Bug's good books. Im going to force some worming past down his throat. Should make for an interesting day. Lets see how long it takes him to forgive me.
Cheers all, get out there and ride.