I need help with a car insurance question?

  • by MIND THE GAPP
  • Nov 30,2018
  • 11 answers

My classic car, a restored 1957 Chevrolet, was parked on the street in the front of my house. A UPS truck was delivering a package to someone on the street. The UPS driver got out of his truck and took a package to a house on the street. It looks like he forget to set the brake and as he went to deliver the package the truck rolled down a hill and into my Chevrolet. There was extensive damage to my car.
Since the car is so old and parts to repair are VERY HARD TO GET AND VERY EXPENSIVE, UPS wants to declare it a total loss and pay me what a used 1957 Chevrolet is worth. There first offer was a few thousand dollars.
I think UPS should pay what ever it takes to restore it to the way it was before the crash. Anyone have any advice on what I should do in this situation. Should I report it to my insurance company? If I do will they raise my insurance premium


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Insurance Answers (11)

lucy last month

A old (classic) car can be worth a lot of money, but you would need to insure it with your insurance company under a stated value or a classic car insurance.
And yes, they will pay you the value of a (normal) 1957 vs a classic car, since if I had to guess did not purchase insurance specifically for this classic car. Now, if you had, then (your) insurance pays the (agreed) value, to (either) pay the cost to restore it, or if totaled, then pays the agreed value you insured it for, then goes after UPS for that amount.
Now, (who) has a classic car and parks on the street? Most people who have classic cars and restore it, will park it in a garage or storage facility, just so that no one can hit it on a parked street.
So, either get advice from your (own) insurance if you purchased the correct insurance, or will have to prove yourself in court, that your car was worth more than what UPS wants to pay.

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Rick last month

They are not obligated to pay anymore then what a used 1957 costs
People lose millions on restored autos, classic boats and other collections by not having proper insurance coverage

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Who last month

unless you have a reasonably recent valuation for the car from a reputable classic car dealer you are f//ked -
what YOU think it WAS worth is irrelevant so It WILL be regarded as a total loss and you will only get the value of a 1957 chevrolet - and that will be f//k all
(And it dont matter a damn if you go through your own insurance or not- cos without that valuation you will NOT get the car restored to what it was cos thats the only thing that would make it more valuable than a 1957 lump of junk)

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Richard_CA last month

Contacting the insurance company will not raise your rates in your situation. This is because you were 100% not at fault. The UPS liability insurance will be used to fix your car, and their collision insurance will be used to fix their UPS truck. Since your car is not worth fixing, it will become a total loss and they will pay you for what the car is worth. If you decide to keep the car, your title will be change to "salvage".

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curtisports2 last month

People have lost tens of thousands of dollars when a fire destroyed their valuable collections of art, coins, baseball cards etc, and they did not purchase separate collectibles insurance. A homeowner's policy does not cover these things. An automobile policy does not cover the cost of replacing a restored classic car.
Your insurance company will be of little help unless you purchased a classic car insurance policy, which sets the dollar limit of coverage in advance. If you and the company agreed at the time the policy was taken that the limit is capped at $50,000 (for the applicable premium, which is not cheap), then you would be covered up to $50,000. I am guessing you did not have such coverage.
So, you would have to sue UPS and hope a judge or a jury would agree with you that the car should be restored to its previous condition.

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AlCapone last month

Yes, report it to your insurance company so that they can help you work with UPS and their insurance company to get a fair settlement. Why would you buy insurance and then not want to use it ??? Unless you've filed other claims recently, they aren't going to raise your rates -- at least not for that reason.

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Eva last month

Search the auto trader websites for similar cars to establish a fair market value and then tell UPS what you think they should pay you. If they refuse, you may have to get an attorney. You could turn it in to your insurance company, but you might have the same valuation problem with them.

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Chucky last month

Get uckin attorney, its the only way your going to get $ to fix it.

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A Hunch last month

That's HILARIOUS..
The other day this exact situation happened in a mall parking lot.

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babyboomer1001 last month

If you need to know what its value was, contact the classic guy that Rick uses on Pawn Stars, in Las Vegas. Photos will help. Then, contact your insurance company. If they won't pay to have it repaired (if it can be done) or give you its fair market value, then hire a lawyer. They are taking you for a sucker and hoping that you will accept a disgraceful insult. Don't do it. If you have to sue, UPS has a big bank account and the j*ck*ss incompetent driver - you can sue him too, and get him fired.

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StephenWeinstein last month

It's not that they want to -- it's that they have to. Insurance is never, ever, under any circumstances, allowed to pay more for damage to a car than the car was worth. If the restoring it would cost more than it was worth, then they can't restore it. It's not their decision -- it's actually against the law. They have to total it.

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