my 87 regal T limited was stolen in 8-1-05. I am in the process of dealing with my insurance company and trying to show them what my car was and how much it was worth. Like I said, it was a Limited 1 of 1035. It had lots of options such as power windows, door locks, trunk release, posi, tinted glass, T-Tops, rear defroster, tilt, a/c, cruise control, driver remote mirror, aluminum drums, vac. brakes, K&N, 160* stat, 30 # injectors, thrasher chip, good pioneer cd deck, speakers, 900watt fosgate amp, 2 12 inch Fosgate HE2 subwoofers and custom box, new front springs and shocks, rotors and brakes, new dunlop white letter tires on original t type rims, and new window switches, plus probably more I am forgetting about . Car was pretty much original besides anything I mentioned and ran great! was very quick and solid. It was an original unopened factory motor. I bought it just after 100K and it was stolen around 115K. It never broke down on me once and just kept going. I will send in to insurance this post and what you guys honestly think it was worth. so what do u guys think?
how much do you think my Stolen 87 T limited was worth?
- Thread starter Oaktown
- Start date
most pics shown were taken before new tires and front springs. Car had a real nice stance. Thanks for your help!
more pics :
http://pg.photos.yahoo.com/ph/72pontiac@sbcglobal.net/album?.dir=2fd6
more pics :
http://pg.photos.yahoo.com/ph/72pontiac@sbcglobal.net/album?.dir=2fd6
Attachments
Sorry for your loss... Advice & Question for You
Looked like a fairly nice car but needed some work.
I would have pegged it at $6000 to $8000 based on the pictures. Depending on your coverage, you have little or no chance of getting compensated for your modifications and your trunk box, etc. unfortunately-- but you can always try.
Point out the rarity and the fact that it was a genuine Limited (M in VIN) with T-Tops. Print pages from this site with production figures, and other stuff from the web about the collectiblity of these cars. Plenty of material on that subject. Make a "case"-- overwhelm them with data just like a lawyer would.
In the future (should you replace her), try to work with your insurance company (or go to another) to get a "stated" or "agreed value" policy if your car is NOT your daily driver. I have it on good authority that now several companies have started or will shortly start to insure these cars as classics-- such as Grundy, Hagerty, etc. VERY CHEAP for the coverage you get.
Hope this helped-- now a question for you:
Did you have an alarm or any kind of theft deterrent on it (i.e. column cover, club, alarm, kill switch etc.). What were the circumstances-- was it possibly towed away?
Your information may help others (including me) avoid the same fate.
Good luck,
Doug
Looked like a fairly nice car but needed some work.
I would have pegged it at $6000 to $8000 based on the pictures. Depending on your coverage, you have little or no chance of getting compensated for your modifications and your trunk box, etc. unfortunately-- but you can always try.
Point out the rarity and the fact that it was a genuine Limited (M in VIN) with T-Tops. Print pages from this site with production figures, and other stuff from the web about the collectiblity of these cars. Plenty of material on that subject. Make a "case"-- overwhelm them with data just like a lawyer would.
In the future (should you replace her), try to work with your insurance company (or go to another) to get a "stated" or "agreed value" policy if your car is NOT your daily driver. I have it on good authority that now several companies have started or will shortly start to insure these cars as classics-- such as Grundy, Hagerty, etc. VERY CHEAP for the coverage you get.
Hope this helped-- now a question for you:
Did you have an alarm or any kind of theft deterrent on it (i.e. column cover, club, alarm, kill switch etc.). What were the circumstances-- was it possibly towed away?
Your information may help others (including me) avoid the same fate.
Good luck,
Doug
It wasnt towed. I was over at one of my friends house. For a year and 1/2 the only thing that apparently kept it from getting stolen was the thrasher chip with anti theft sequence. I recommend it! unfortunately it was not in my car (well it was in the glove box) when it got stolen. I had to take my car into a shop for some suspension repair, and when I did, I took the chip out and put the stock one back in, b/c if you dont know the sequence you wont be able to start it. And I wasnt about to tell someone, i dont know, how to start my car. I planned to put the chip back in. It would have been really easy to do now that i think back. But I wasnt thinking this car was going to get stolen in the 1-2 days where I didnt have my chip in the computer. Like that they can be gone so I would suggest getting some anti thefts for those of you who dont want to end up like me. In my experience the club doesnt work. The column guard doesnt work. They might scare the average theif away but a real GN , TType car theif is gonna go right through them. Kill switches are good and I liked the thrasher chip with anti theft sequence. I will get one again. Honestly, I am thinking about putting LO JACK my next one and putting a security camera on it and just wait. It will be gone within a week around here with no anti thefts and Id love to track my car that was getting stolen... just my luck the police are involved or dirty... and i will end up with another stolen t... so I would say put a good alarm on your car along with a kill switch...maybe one thats manual and one thats in the chip. I now use the unbreakable autolock in my mustang 5.0... i like it so far... my car is still here 
hahaha yeah I do use paypal on most of my purchases. I sent them a lot of receipts... all of which were really on the car... haha... im never gonna be able to print this thread out and send it to insurance now... :biggrin: oh well if i got 15 K i would...i dunno what id do...Id get another T Type! haha
I said it was totaled not towed. He was involved in a vehicle accident and the car was wrecked bad. He had a stated value insurance policy on the car for $10k. The insurance company declared the value of the car to be $10,550 and they gave him another 7% of the value of the car for the tax he would have paid if he purchased another car for $10,550.
I spoke with the insurance adjuster when he first looked at my buddies car. He said since the car was not a Grand National it was only worth $4-5k. I gave him the build stats on the T Limited and he did his homework. He then came back with the figure above.
I spoke with the insurance adjuster when he first looked at my buddies car. He said since the car was not a Grand National it was only worth $4-5k. I gave him the build stats on the T Limited and he did his homework. He then came back with the figure above.
JC... I was telling people it had not been towed b/c GNXcess asked me.
Blue87T... I havent spoken to the insurance company since they called asking me if it had " touring suspension " or not. They seemed like they wanted to base the amount they were going to give me, soley on this fact alone. I was really confused, and I told the lady who I have been talking to at my insurance company that that was wrong, and that the main part of the car that made it worth money was that it was a 87 Turbo Limited with T-Tops. She said she was going to look into it more and get back to me. At that point I started posting a lot on here trying to get more info. to show what my car was and what it was worth. So far I have sent my insurance company, the notorized affidavit of vehicle theft, all the pictures that are attached to this thread/link, all the receipts I had for my car, a page out of kirban that says there were only 1035 87 Turbo Limiteds made, and about 10 ads from Turbo Buick / Auto Trader with cars that were similar to mine. I didnt even send only ads of limiteds in, because I could only find 1 or 2 for sale. If you have any more ideas or tips for me I would love to hear them since you said you have a back ground in auto claims.
Blue87T... I havent spoken to the insurance company since they called asking me if it had " touring suspension " or not. They seemed like they wanted to base the amount they were going to give me, soley on this fact alone. I was really confused, and I told the lady who I have been talking to at my insurance company that that was wrong, and that the main part of the car that made it worth money was that it was a 87 Turbo Limited with T-Tops. She said she was going to look into it more and get back to me. At that point I started posting a lot on here trying to get more info. to show what my car was and what it was worth. So far I have sent my insurance company, the notorized affidavit of vehicle theft, all the pictures that are attached to this thread/link, all the receipts I had for my car, a page out of kirban that says there were only 1035 87 Turbo Limiteds made, and about 10 ads from Turbo Buick / Auto Trader with cars that were similar to mine. I didnt even send only ads of limiteds in, because I could only find 1 or 2 for sale. If you have any more ideas or tips for me I would love to hear them since you said you have a back ground in auto claims.
1) Read your policy regarding custom parts and equipment- some allow for coverage others do not. It should be spelled out clearly in the policy under " damage to your auto ". Every company handles it differently. This woudl affect your amps, stereo and aftermarker engine stuff. Typically the insurance company would need to call for quotes to see if the added equipment raises the actual cash value of the vehicle - which is what they owe on a personal auto policy. A good example is a Honda with full ground effects and neon pink paint. The owner may have spent $10k on add ons but it doesnt really rasie the actual value - in some cases most people would say it lowere the " actaul cash value (ACV) " because noone will buy it the way it is. I wouldnt expect to get much for your stereo stuff in regards to value.
2) Find out what your individual states Insurance Department Guidelines are in regards to how an Insurance company can value your car. Every state is different. I looked quickly on Cali. Insurance Department website and didnt find it ( not to say it isnt there). If you have an agent - ask them to help find out for you . Its usually in a document called an " appraisers act " or something to that affect. For example : in PA we are allowed to use 3 Methods - 2 book average ( NADA & Redbook ), dealer quote or an approved valuing service like a company called CCC or ADP and others. The act in our state also says that if the vehicle value can't accurately be determined using one of those methods you must look further into a specialized vendor. It is important to know your state rules.
3) It sounds like you are already on the autotrader site- find comprable vehicles. Being a Limited it would be tough to find an exact comp. One thing to realize is just because its low production doesnt mean it has a higher value. If that were the case the Limiteds would easily fetch more on average than T's or GNs - which they don't. You may be best to find alot of T's and such and argue its very close to the same car. Use Kirban's site also.
4) Be prepared for the appraiser to point out flaws in your car that make it different than the comprable vehicles you find. No center caps? They will obviously say it detracts from your value.... Try and come up with a reasonable value you think your car is worth and also can support and document. If they follow the rules setup by the state it is now your job to show them your car doesnt fit the rules laid out. Remember , appraisers, and even alot of uninformed car people would look at a limited as "just another regal " - column shifter and all.
5) As a last resort almost all policies have what is called an " Appraisal Clause" . It is usually in the back. This clause says that if you and the appraiser can't come to an agreement in regards to value ( or repairs) you as the policy holder can hire an indpendant appraiser and in turn the insurance company will also have to do the same. These appraiser will value your vehicle and negotiate a binding value. Its a gamble but since you are paying someone to value your vehicle they will obviously listen and look at any information you have to support your cars value. Most appraisers don't want it to get to this point. If the rep you are dealing with doesnt seem to understand what you are saying in regards to value / rarity of your car ... ask for a manager. Most companies have atleast a few people who know something about cars ..this may be one of the trainers or high level property damage appraisers. Keep complaining and eventually you may get someone.
I hope this helps some. Its can be a tough process arguing the value of your car. When I suspect someone is going to argue with me I always find comps that support the value I am offering. Expect them to do the same. Have they offered you a value? They have to give you something in writing within a certain time frame documenting how they achieved the value . I would be interested in seeing it if you did. Let me know if you need more help.
2) Find out what your individual states Insurance Department Guidelines are in regards to how an Insurance company can value your car. Every state is different. I looked quickly on Cali. Insurance Department website and didnt find it ( not to say it isnt there). If you have an agent - ask them to help find out for you . Its usually in a document called an " appraisers act " or something to that affect. For example : in PA we are allowed to use 3 Methods - 2 book average ( NADA & Redbook ), dealer quote or an approved valuing service like a company called CCC or ADP and others. The act in our state also says that if the vehicle value can't accurately be determined using one of those methods you must look further into a specialized vendor. It is important to know your state rules.
3) It sounds like you are already on the autotrader site- find comprable vehicles. Being a Limited it would be tough to find an exact comp. One thing to realize is just because its low production doesnt mean it has a higher value. If that were the case the Limiteds would easily fetch more on average than T's or GNs - which they don't. You may be best to find alot of T's and such and argue its very close to the same car. Use Kirban's site also.
4) Be prepared for the appraiser to point out flaws in your car that make it different than the comprable vehicles you find. No center caps? They will obviously say it detracts from your value.... Try and come up with a reasonable value you think your car is worth and also can support and document. If they follow the rules setup by the state it is now your job to show them your car doesnt fit the rules laid out. Remember , appraisers, and even alot of uninformed car people would look at a limited as "just another regal " - column shifter and all.
5) As a last resort almost all policies have what is called an " Appraisal Clause" . It is usually in the back. This clause says that if you and the appraiser can't come to an agreement in regards to value ( or repairs) you as the policy holder can hire an indpendant appraiser and in turn the insurance company will also have to do the same. These appraiser will value your vehicle and negotiate a binding value. Its a gamble but since you are paying someone to value your vehicle they will obviously listen and look at any information you have to support your cars value. Most appraisers don't want it to get to this point. If the rep you are dealing with doesnt seem to understand what you are saying in regards to value / rarity of your car ... ask for a manager. Most companies have atleast a few people who know something about cars ..this may be one of the trainers or high level property damage appraisers. Keep complaining and eventually you may get someone.
I hope this helps some. Its can be a tough process arguing the value of your car. When I suspect someone is going to argue with me I always find comps that support the value I am offering. Expect them to do the same. Have they offered you a value? They have to give you something in writing within a certain time frame documenting how they achieved the value . I would be interested in seeing it if you did. Let me know if you need more help.
Maybe this will help. http://www.nadaguides.com/uv/viewresults.aspx?LI=1-12-1-2031-0-0-0&Lnk=1&wSec=12&wPr=1&wPg=2032 .
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