To-do list before filing an insurance claim

[Oakland Bronco]

This is what I've gathered thus far, and plan on doing before I contact Geico. Anything else I should have on hand to help avoid getting screwed?

* Pics of the Bronco from when the PO completed the restoration
* List of parts the PO installed (I'll price those later today)
* List of parts I've installed, with receipts
* Comparable condition Broncos from Craigslist, Barrett Jackson auctions, Rocky Roads, etc.
* NADA Guide valuation for 1973 Ford Bronco
* Will have the Bronco independently appraised for a pre-fire value
* Speaking with Andrew at Baja Broncos about having him come over to look at the Bronco, make a parts list, and provide a rough repair estimate.

Should I go ahead and get another 1-2 shops to provide repair estimates? Anything else I should do?

 

[Blue Bastard]

*sharpen scissors for the red tape.

good luck to you, i am interested in how the insurance claim goes.

 

[Devin]

What kind of insurance did you have on it at the time of the fire? If it was just a "basic" type of insurance, you probably aren't going to get that much. When I set up my insurance, I asked for coverage much more than what a standard policy for a 1969 Bronco would be. To do that, I had to bring in all of the stuff you mentioned and have an appraisal/inspection done PRIOR to getting my policy set up.

Best of luck.

 

[Oakland Bronco]

What kind of insurance did you have on it at the time of the fire?

I have comprehensive insurance with Geico. My bigger concern (more than the cash I get), is a low valuation might result in the rig being totaled. I don't want that to happen. If I can get a high valuation, I'll file a claim. If I can't, I don't want to get insurance involved.

 

[bknbronco]

With comprehensive im sure they will total it and give you a few grand. Hopefully you can even buy it back.

 

[Madgyver]

With comprehensive im sure they will total it and give you a few grand. Hopefully you can even buy it back.

X2...... this is how I acquired my firebronco.

P.O.'s insurance co. had it totaled, they cut him a check and told him to get rid of it because they didn't want it shipped back. I bought it for 1k, got it running 4 days later, titled it to my name on the 5th day and it was mine. No salvage title.

 

[Rustytruck]

Other than the fire area clean the truck as best as you can, prior condition is very important in estimating value. Dont forget any costs to tow the Bronco home. Dont forget the costs for a rental and know the rules of a rental in your contract. Watch out for lowball first offers. Try not to get into the total it and buy back balony. Remember the truck is yours not theirs.

 

[70 Steed]

You are on the right track. I had a similar issue with my '78 Ford F150. Some jacka$$ hit and run driver hit it while it was parked in front of my house. The cost to repair it was a little over two thousand dollars and Farmers wanted to total it. I've owned the truck since new and it's in perfect shape. I got a bunch of comps and convinced them it's worth a lot more. They wound up paying the full amount. I didn't want it totaled because it would then have a salvage title. However if you don't mind that you can let them total it and buy it back. If you don't want them to total it you can always cancel the claim.

 

[allenfahey]

What did you have it insured for? Was it agreed value? If they don't total it on the preliminary estimate they will write a low ball estimate in hopes you take it and run with the money. Then if you decide on getting it fixed the shop will write a supplement. Once the shop gets it and writes their estimate it still might total.

Get a list of all the parts you see it needs. Wiring harness, new sheet metal, engine/underhood parts, new top, ect. Also get shipping quotes and make sure the insurance company adds in mark up for the shop.

I looked at your pictures in your "Heartbroken Thread" and it looks like you will need a lot of engine compartment parts. Hoses, washer bottle, ect. For just the paint part and R&I's (remove and install) I see an easy 40 hours or more. I'm not sure what the labor rate is there but here it's $40 for insurance + the materials which goes off the paint labor X $24. Just in paint and body labor you are looking at least $2400 + the parts. I would not be surprised to see a 5K estimate.

 

[Devin]

What did you have it insured for? Was it agreed value? If they don't total it on the preliminary estimate they will write a low ball estimate in hopes you take it and run with the money.

That is what I was getting at with my original question. I brought in all of the stuff prior to setting up my policy to have it insured up to a number that was several times higher than standard kelly-blue-book values.
If the OP didn't do this, then trying to get anything above kbb is going to be difficult and will likely end up being a "totaled" situation.

 

[Broncitis]

Unless you had special insurance to cover all the extras, it will have a relatively low book value and will likely be totaled.

I had one of my first custom Broncos stolen in 1994 when I was in the Navy. I had receipts for about $20K, and only had standard comprehensive.

They gave me the maximum they could (about $4-$5K as I recall) and let me keep the vehicle. I got out of the service and went to college and spent the money one a computer and some other stuff I needed ($3K+ for a computer that today has less computing power than an iphone! %))

I still have that Bronco in storage and it is one of several on my to do list!

However, the NADA values have gone up as they have become more collectible, so maybe you can get more money?

 

[Mountain Ram]

NADA was about $14k when I bought mine and insured it last year. State Farm said that is the value they would use with my policy...

Good luck!
Todd

 

[MyOriginal66]

I have had parts (wheels) stolen off a car that were not on it when i bought/insured it. I provided a receipt and they (State Farm) refunded me the full value (minus deductible). When I set up my Bronco policy they (Progressive) allowed me to insure it at a stated value that my rate reflects.

 

[MarsChariot]

I have comprehensive insurance with Geico. My bigger concern (more than the cash I get), is a low valuation might result in the rig being totaled. I don't want that to happen. If I can get a high valuation, I'll file a claim. If I can't, I don't want to get insurance involved.

They can still give you a high value and "total" it, as in salvage title. But in any case, do you have anything that shows that it was "special", like a car show trophy or being in the Classic Broncos calendar? That is way beyond what most hobbyist have and impresses the hell out of them. Let's just say the value goes way, way up then....