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Update 2001 Eldorado ESC Insurance Company Settlement

Started by Matt CLC#18621, April 28, 2021, 03:35:51 PM

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Matt CLC#18621

Hello,

It has been almost three months since the ESC was pummeled by the Toyota 4Runner.

Progress made with the Perp's insurance company include agreeing in principal that there is no comparable value for the ESC within a 75 mile range of the ESC's insured address.

Yesterday, ~ 12 weeks later, the Perp's insurance company is now asking for detailed pictures of all interior seats, carpets, floors, interior door panels, dashboard with visible miles and console, headliner, tires and rims, engine and some additional pictures of the exterior. Hopefully the compensation will be a reasonable in light of damage and the ESC's excellent condition; just busted 124,000 this morning.

In the interim, I have been using the ESC as my daily commuter in the event the insurance company total's it. The cost to buy the ESC from insurance company is $1,000, and its New Jersey title has to be changed to "Salvage."

http://forums.cadillaclasalleclub.org/index.php?topic=163651.msg488237#msg488237

Regards,

matt 18621
i am 2nd

Eric DeVirgilis CLC# 8621

A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

79 Eldorado

Matt,
Are you certain when you wrote "Has to be.."? At least in NY you can agree to a settlement without the vehicle being declared salvage. You may want to ask. If you simply agree to $1000 less than they planned to pay it seems it wouldn't be any different to the insurance company. You wrote pummeled so maybe there's no sense in worrying about it. Did you share photos under another topic?

Scott

Matt CLC#18621


79 Eldorado

Matt,
Wow, I didn't catch your prior topic so thanks for the link. In that prior topic you mentioned "and that's before opening the hood". How much else did the adjuster find? I'll copy your prior list here but the good thing about the parts you listed is they are all bolt-on/ bolt-off. I suspect there was more but if not that's extremely fortunate.

I would talk to the insurance company and let them know you spent significantly more than normal maintenance to make certain the car was perfect and that if the settlement does not cover the repairs you do intend to fix it. Explain to them you would need to spend a lot more than the value of the car to get another one in similar condition based on the work you did on the present one. If they intend to deem the repairs too significant I would ask that they allow the settlement to be adjusted so you can keep the car and avoid the negative connotation of salvage title. If your list is complete it's terrible but it seems it's worth fixing considering the attention you gave it and assuming the list didn't grow significantly.

Considering the nature of the accident, hit and run, I wonder if you could take the person to small claims court to get the remaining cost of the repair beyond what insurance will pay?

List from prior post:
"2001 Cadillac Eldorado ESC parts required include:
1) hood & grille,
2) front bumper,
3) right front fender,
4) right front headlight assembly,
5) passenger door mirror, and
6) possibly the passenger door.
This is before the bonnet is lifted and engine compartment damage is assessed and accumulated.
"

When someone rear-ended me in a car which could be described in similar terms, meaning the improvements I made were worth more than the car, the adjuster actually contacting places for parts prior to finalizing his assessment. The adjuster who looked at yours may have done the same and would very likely share the information he/she found. As I recall the grade/condition of the parts was also based on the overall condition of my car so in asking you for more photos they may very well be doing the same. Hopefully good photos will work in your favor. Since you're driving it did you take it for independent estimates?

Scott


Art Director

My 2001 Eldorado ESC was "pummeled" in the rear on the freeway by a drunk driver in March 2014. The insurance company paid me blue book value of about $7,000 (at the time), plus my attorney was able to get a few hundred more to cover a rental. Didn't need a rental; my son loaned me his extra car until I found my 2003 DTS. Good luck. I really miss that car, but my backseat passengers are much happier in a DTS.
Tim Coy
CLC Southwestern Regions Vice President
Interim Western Regions Vice President
Art Director, The Self-Starter, International Membership Directory
Life member, Rocky Mountain Region
CLCMRC Benefactor #102

1963 Six-Window Sedan de Ville
1972 Fleetwood Brougham - RIP
1988 Sedan de Ville - RIP
2001 Eldorado ESC - RIP
2003 DeVille DTS - sold

TerryDeirdre

#6
It is a good price. For good insurance, you need to pay a lot of money. I never doubted that insurance is something necessary. You never know what can happen to you or your car. When I was insuring my car, I read on moneyexpert.com  about useful modifications. For example, once I lost my keys, and luckily I had key cover from my insurance company. I went to a car repair shop to open my car, and the insurance company paid for all the work. The only thing I had to pay was for a new pair of keys. Now I have two keys for my car, in case this happens again.

Mike Josephic CLC #3877

You don't say what year / type of car you want
to insure, but if it's considered an antique in
your state (usually 25 years or older) go with
Hagerty. They understand antique cars and
have "Agreed Value" policies.

With a regular insurance company, such as
State Farm, you will be screwed.

Mike
1955 Cadillac Eldorado
1973 Cadillac Eldorado
1995 Cadillac Seville
2004 Escalade
1997 GMC Suburban 4X4, 454 engine, 3/4 ton
custom built by Santa Fe in Evansville, IN
2011 Buick Lucerne CX
-------------------------------------
CLCMRC Museum Benefactor #38
Past: VP International Affiliates, Museum Board Director, President / Director Pittsburgh Region