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Cadillac STS-V Series Forum Discussion, Car was totaled, now what? in Cadillac V-Series Forums; In my experience with geico, they totaled the car (old Nissan) cut the check for what they valued it, and ...
  1. #16
    Guy.Seminerio is offline Cadillac Owners Connoisseur
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    Re: Car was totaled, now what?

    In my experience with geico, they totaled the car (old Nissan) cut the check for what they valued it, and it was up to me to do what I wanted. Took the money, had it fixed and had a couple hundred to spare.

    Tell your insurance company you want to fix it and see what they say.

  2. #17
    Nimoch's Avatar
    Nimoch is offline Cadillac Owners Fanatic
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    Re: Car was totaled, now what?

    Okay Guy, it's on the table. AriGold's V is the other option.

  3. #18
    carter's_sts is online now Cadillac Owners Connoisseur
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    You should be able to negotiate with them. Tell them you think it's worth more. They will try to offer you the lowest they can.

    Make sure they understand how rare these cars are and make sure they aren't basing it off of the regular STSs. Tell them you want it fixed or try to get them to offer you more and buy it back if they'll let you.

    This is one of my fears with mine. In 2 years I can get classic car insurance and insure it for more based on an appraisal.

  4. #19
    Guy.Seminerio is offline Cadillac Owners Connoisseur
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    Re: Car was totaled, now what?

    Quote Originally Posted by carter's_sts View Post
    This is one of my fears with mine. In 2 years I can get classic car insurance and insure it for more based on an appraisal.
    I'm guessing because it'll be 10 years old in 2 years. Does that put a limitation on how many miles you can put on it?

  5. #20
    1madstsv's Avatar
    1madstsv is online now Cadillac Owners Connoisseur
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    Re: Car was totaled, now what?

    I have collector insurance on my car now stated value. 35,000. They would not go for 40k. But I'm ok at 35k all day. Had to send them emails on how rare the car was. The would do my 99. Run of the mill c5 but not the caddy with out some effort. And yes only 5k per year per car. Some will go for 7k some only 3k. But I had to have a dd that was newer than the caddy hence the first 09 escalade and now the 10. Even tho it will only get 5-7k per year. I dd a 2014 Pete
    AriGold. likes this.

  6. #21
    carter's_sts is online now Cadillac Owners Connoisseur
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    Re: Car was totaled, now what?

    Yeah, talked to my agent about it and these are their requirements:

    Has to be 10 years old or older.
    Need to have it appraised in writing. I can maybe even negotiate higher within reason.
    Has to be kept in a locked garage.
    Can not be my daily driver (mine is not).
    Has to be driven less than 5,000 miles a year. I should be able to keep it to that. It will be close. I've had it for a year and a half and put 6300 miles on it (summers more of course).

    They also want verbiage about the rarity of these cars and how hard it would be to replace it.

    I'll probably have it appraised soon, even before it's 10 years old, just so I have a record of it in case something happens. That only helps if it's appraised pretty high of course.

    Quote Originally Posted by Guy.Seminerio View Post
    I'm guessing because it'll be 10 years old in 2 years. Does that put a limitation on how many miles you can put on it?
    Guy.Seminerio and Nimoch like this.

  7. #22
    fast_lane10 is offline Cadillac Owners Fanatic
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    Re: Car was totaled, now what?

    How much do you guys pay for classic car insurance or what is the difference between regular insurance and classic car/collectors insurance. Do regular insurance companies offer this insurance ?

  8. #23
    carter's_sts is online now Cadillac Owners Connoisseur
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    Re: Car was totaled, now what?

    The agent I've been talking to is with my regular insurance company; a major one. I'm not sure how much it will be yet, but he told me it's not really that much. Of course it's all relative, so I'll have to decide if it's worth it in a couple of years.

  9. #24
    1madstsv's Avatar
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    Re: Car was totaled, now what?

    I have my through a specialized insurance group just for colector cars. I pay for two car what I was paying for one. But lots on limitations on how you can use the cars. But when they mostly just sit not a big deal for me.

  10. #25
    Jmn111080 is offline Cadillac Owners Member
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    Re: Car was totaled, now what?

    It is 20% of what thay give you for the car so if thay give you 15k for the car it will cost you 20% of that to keep it it Will have a salvage title Thay will just take 20% out of the bye out and cut you a check for the rest I know this for a fact

  11. #26
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    Re: Car was totaled, now what?

    That's something I'll look into when 2016 rolls around for sure. Still waiting on insurance to tell me what they appraised my vehicle for; I'll decide then whether to repair mine or purchase another V.
    Guy.Seminerio likes this.

  12. #27
    fast_lane10 is offline Cadillac Owners Fanatic
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    Re: Car was totaled, now what?

    carter'ss and 1mad ...thanks for the info on insurance cost. Definitely something to talk about with my agent.

  13. #28
    CMNTMXR57 is offline Cadillac Owners Enthusiast
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    Re: Car was totaled, now what?

    I've totaled several cars over the years. With State Farm, I flat out told them I had performance parts on the car that I wanted back and they said "the tow truck will be there Wednesday..."

    Meaning get what you need by Wednesday. To which I did. Pretty much left them an engine and a shell.

    But yes, diminished value, make sure about GAP coverage if you're not sure whether or not you have it, they will pay off the lien, and anything more is yours to put toward the new car. Now some insurance companies (based on commercials I've seen), will get you a new vehicle, same if possible, 1 year newer. Not sure of the fine print on that, but...

  14. #29
    Nimoch's Avatar
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    Re: Car was totaled, now what?

    They didn't give me what I wanted for the car so I am going to contest. They did tell me since my lien is with Wells Fargo they will not accept me salvaging it and repairing it. I will call WF to make sure that's true. I am e-mailing my agent. What will he be asking for as to why I want more $$$?

  15. #30
    CMNTMXR57 is offline Cadillac Owners Enthusiast
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    Re: Car was totaled, now what?

    Start doing research on all the valuation sites. KBB, NADA, Edmunds, the black book, etc...

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