Never let anyone borrow your VX!!!

[CrnCnn]

Firstly I hope everyone is ok, except the other driver. Secondly THAT BLOWS.

Sorry man.

[etlsport]

sorry dude.. hope it all turns out okay..

[tom4bren]

Man that really bites. Hope everyone is OK. BOL on the repairs.

[4X4 UFO]

Hope you can get it fixed soon........and not lending your baby out is good advice, but it's not always easy to follow.........Good luck!

Randy

[Thmstec]

Seeing that pic when I logged in nearly brought a tear to my eye.

[VehiGAZ]

Seeing that pic when I logged in nearly brought a tear to my eye.

Seeing that pic almost made me puke! So sorry Kodiak! Glad to hear that they're going to cover the damage.

This got me thinking though... why is there such a huge discrepancy between the way-low price at which Edmunds or KBB value a VX and the price insurance companies value it?! When I went to list my VX for sale, Edmunds wanted to value it at like $3-$4k, but here your insurance company is paying out $6600 for repairs without totaling it out, which means they value it for at least $9k. Huh...

[Y33TREKker]

This got me thinking though... why is there such a huge discrepancy between the way-low price at which Edmunds or KBB value a VX and the price insurance companies value it?! When I went to list my VX for sale, Edmunds wanted to value it at like $3-$4k, but here your insurance company is paying out $6600 for repairs without totaling it out, which means they value it for at least $9k. Huh...

I've been looking into the same thing lately. After seeing all the VX accidents this winter, I started wondering what the "real world" market value of a VX really was depending on whether you were talking with a bank (for a loan), an insurance company (when deciding whether to total or not), or a buyer/seller to determine selling/purchase price.

I asked my current insurance provider (Pekin) what options I had for the VX, with my questions centering around the low production numbers for U.S. VX's, the VX being considered a future collectors' vehicle, and the limited mileage per year I tend to put on my particular VX.

I'd seen a Hagerty Insurance plaque in my agents office, so given the specialty vehicles commercials they show on tv, I asked if a policy could be brokered through them. While Hagerty said my VX seemed to fall closest in specifics to one of their Exotic Car policies, the one thing it didn't qualify for was overall value. Vehicles for their "Exotic" policies had to have a rated value of at least $40k. (Given the scarcity of Vx's these days though, who knows, that may be an option sooner than we think).

Anyway, that led my Pekin agent to tell me of their policies which included "stated" value, where it was a matter of getting an appraiser to write off on the value I wanted to declare. That's when I brought up the circular Edmunds/KBB/Insurance industry valueing system, because when I started asking just who I would have to talk to in order to get such an appraisal, my insurance agent was at a loss.

I still think it would be worthwhile to go with a stated value policy, so if any of you have insights into the specialty vehicle arena for getting those sorts of appraisals, it may be an avenue worth further investigation.

Hope everything is still going well Kodiak, for both your father and your VX.

[VehiGAZ]

Huh... did you call Hagerty directly? I got the 928 insured through them as a "stated value exotic" but it was not valued over $40k. They used "Cars that Matter" as a pricing guide (what an obnoxious name!) to confirm what I wanted to insure it for - and I never had to have it appraised separately. They just confirmed that what I wanted it covered for was within the range of "Cars that Matter".

I'd suggest calling them directly and seeing what you can work out...

Good luck!

[BuxGuy]

Sorry Kodiak. Good luck with all that. Our Florida roads are crowded with slow, retired yankee drivers, but at least we don't have the snow and ice to contend with. Glad everyone is OK, but sorry about your VX.

[Scott Harness]

Glad everyone is okay.That's hard to look at!

[vt_maverick]

Check these out, you might be able to use some insurance money to buy a parts VX once they realize that body pieces are virtually non-existent:

1999 Salvage VX in New York

Salvage VX in Missouri

Best of luck!