|
I'd say that NADA is more accurate. As for replacement value everyone seems to have a different idea. I know this isn't a SVX, but here's my story of getting a settlement for a total loss. We had bought a low milage 1992 Legacy L FWD Wagon in 1997 for $9k. In 1999 I was hit head-on in broad daylight in my lane by an old woman trying to illegally park on the wrong side of the road. She said she didn't see me, at 3 in the afternoon with my headlights on! Anyway, we went through my insurance company instead of her's. We held onto the rental for over a month (over $1k total when all said and done) while I rejected their offers for settlement. We owed around $4k on it. They started at $4500 and after a month I settled for $8450. I got back almost what I paid for it. I had all my receipts for service, new tires, etc... I also faxed them ads for similar wagons to show I couldn't replace my vehicle for what they were offering me. They deducted $500 for my deductible, and 4 months later I got the $500 when they got their money from her insurance. Moral, documents matter more then a book value, and if you can show what your limited production vehicle is selling for on the market, you might be able to get more then book value on a total loss settlement.
|