The challenges of Insurance Claims, take this as a PSA and request

GlamisBatman

GlamisBatman

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So I just completed an insurance claim total loss on my sand rail. I have State farm Insurance and I'm thankful for that. In case you have never been through an insurance claim, they could be a challenge. And the biggest challenge that I found in my experience, is coming up with comparable examples for value. And this is where my special request comes in. Every time a sand rail is sold, be it here or on other platforms, they are removed. As fewer and fewer sand rails are being built, there are fewer and fewer examples of comps you can utilize in order to get a fair value.

Problem is, the nice ones get sold quickly and they no longer appear. So all we're left with are ones the ones that nobody else wanted and you have to deal with those comparables from this insurance company.

Get in your market value out of your sandal is extremely challenging. So my request is if the forums could leave those sand rails that sell up somewhere and say a sold category for comps. I kid you not it would be doing the community A huge favor.. That is all. Thank you for your attention to this matter.
 
I completely agree. There was so much of this that could be found on the old site. It was great to go back and see what one vehicle sold for many times and thru several owners and upgrades.
A few members ask to delete their sold stuff. It's just a few. I try and mark items as sold, delete contact info like phone or emails from the listing but leave everything else.
 
Grease Monkey said:
I completely agree. There was so much of this that could be found on the old site. It was great to go back and see what one vehicle sold for many times and thru several owners and upgrades.
A few members ask to delete their sold stuff. It's just a few. I try and mark items as sold, delete contact info like phone or emails from the listing but leave everything else.
Click to expand...
Hopefully it's something they'll consider doing
 
What rail did you have ? What was it Insured for ? What was the settlement amount ? Did they have an adjuster come out to write an estimate or you took it to a shop ?

In response to your concern of comps. I wonder if Str8 Up, Race Dezert, etc. would be able to provide the data if requested.
 
State Farm has stated value policy that saves all of that headache.
Makes things simple when you have to go through a total loss claim
 
Phil Brown said:
State Farm has stated value policy that saves all of that headache.
Makes things simple when you have to go through a total loss claim
Click to expand...
I've never had a claim - all my toys - rails, SXS, Boats, moto, etc. - I have insurance at stated value - I've used two different agencies. I do this specifically so I'm not subject to insurance company picking the value. Not having a claim - I'm not sure if there can be other complications?
 
Phil Brown said:
State Farm has stated value policy that saves all of that headache.
Makes things simple when you have to go through a total loss claim
Click to expand...
A stated value policy does not mean you will receive that amount if you have a total loss claim. If the ACV is less than the stated value, you will receive the lesser amount.
 
Hondajimz said:
A stated value policy does not mean you will receive that amount if you have a total loss claim. If the ACV is less than the stated value, you will receive the lesser amount.
Click to expand...
Hmmm - maybe a better term is Agreed Value Policy? Not my expertise but How do you determine Actual Cash Value or depreciation on an older vehicle or boat? I had a 40 year old boat that was restored to better than new. It was worth more way than when originally purchased - help me understand?
 
I like the track the asking prices on str8up toy trader by saving the page on the waybackmachine

Wayback Machine

web.archive.org web.archive.org

been saving the page every so often since 2023
 
Hondajimz said:
What rail did you have ? What was it Insured for ? What was the settlement amount ? Did they have an adjuster come out to write an estimate or you took it to a shop ?

In response to your concern of comps. I wonder if Str8 Up, Race Dezert, etc. would be able to provide the data if requested.
Click to expand...
A two-seat mid-engine suspensions unlimited. Hardly one of the most abundant sand rails out there I would imagine. At State farm it appears most insurance companies are utilizing AI.... As shocking is that may sound. They did not send out someone to examine it They simply relied on all my pictures. They eventually agreed to a third party specialty vendor to come up with a value after declaring it a loss. It was insured for replacement value up to $100, 000. I eventually got what I wanted out of it, But with the lack of available comps to prove my case, it made it extremely difficult. We're doing ourselves a disservice by not maintaining a database for these things so that we have proof of their value. With all these side by sides, our rail market is increasingly dwindling..
 
When you initially insured the car did they not require any form of appraisal for the replacement value?

were you able to purchase the car back?
 
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