7965Re: Force market value for insurance claim
- Mar 4, 2012Sorry to hear of your accident. While you should be able to show that your 1997 is worth more than $2,500 today, it may also be enough to show that when it was new, your Solectria Force cost more than a brand new Chevy Geo Metro. Let's say that the MSRP was three times for the Force. Three times $1,500 is $4,500. Hope this helps. M P in California
--- In firstname.lastname@example.org, Charles Bliss <cbliss@...> wrote:
> ... or like one of my friends who's Porsche 914 was declared 'totaled'
> until he had the insurance company do a formal assessment which showed
> it valued up due to it being Electric and a classic. Assessed at $47k,
> the insurance company paid for full repair.
> On 3/2/2012 12:50 PM, Ed Garcia wrote:
> > Although I do not know the specifics of Mike's case, I think calling
> > the insurance company a "rip off" might be a bit harsh. In their eyes,
> > we are trying to justify an $8000 valuation for a 97 Geo Metro. You
> > have to expect some push-back from them. They need to be educated.
> > This is why I always insist calling my Force a Solectria, not Geo or
> > Chevy, for insurance and registration purposes. It is like valuating a
> > Tesla as a Lotus.
> > Ed
> > _,_._,___
> [Non-text portions of this message have been removed]
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