36 replies to this topic

[dattoman]

Dare I ask how the "Negotiations are going" with the insurance co ?Is it looking like we all need to ring our insurance company and apply the blowtorch again or are they behaving a little better than the Go GGo co did  ?

 

If the guy was paid out... its not his car anymore... thats what everyones policy says

He gets to either move on to something else or try buy his car back

He should get first refusal... but its not his to dictate terms on

[StephenSLR]

He should get first right of refusal... but its not his to dictate terms on

 

Shannon's eventually came to the party in Ayden's case after it caused quite a stir here, he bought his car back from them.

 

Shannon's also reiterated that this not their normal policy and they do not believe they will change the policy but have told me cases like this will be looked into on a case by case basis. I can say that both myself and Shannon's were happy with the price that I paid.

 

http://www.gmh-toran...e-9#entry819782

 

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Edited by StephenSLR, 26 March 2017 - 07:00 PM.

[dattoman]

Yep...aware of that

Then I believe he sold it anyway

 

I understand getting emotional about it

I'd like my SS back that was stolen in 89

And if I ever find it it legally doesn't belong to me but I'll probably want to take it back... haha

[Bernie]

It does still belong to you if you had no insurance .It is still legally yours .If  you had insurance and were paid out and they eventually find it ,it then belongs to the insurance company .You can also have a clause that allows you to return your paid out funds and have your car back if you wish .All comes down to your specific policy and how much you are willing to pay .

Edited by Bernie, 26 March 2017 - 09:44 PM.

[dattoman]

I was insured and paid out

 

Never seen a policy with a buy back after payout clause

[ozyozyozy]

As far as im aware the owner has the right to first refusal in this case anyway.
Not sure as to what is going on yet, havent spoken to the people recently, im in regular contact with the mechanic who looks after the owners cars, last i spoke it was still up in the air.
The fact that they dont know what damage could be done to the car, will prob be the decider, is the engine and gearbox in same health, just these 2 items could potentially cost in the 20-30k even plus to rectify if not ok.

[Bernie]

Hoping it turns out the way that the insured would like it to .

[StephenSLR]

As far as I'm aware the owner has the right to first refusal

 

I think most people are okay with that except the insurance co. is likely to auction the car and you could end up having to bid a lot more than you were paid out if there's some determined buyers out there.

 

s
 

[ozyozyozy]

The way the owner was talking he had first option.

Otherwise, potential kick arse car will be at auction.

[Potta]

I have salvage rights on mine, assume that means if it is recovered stolen too?

 

Maybe not if you've already accepted a payout?

[dattoman]

It doesn't belong to you once you accept the payout

[ozyozyozy]

I get that neil.
Its then at the company discretion i guess whether they want give the original owner the option or not, they dont have to but common sense and the nice thing to do is give them the option.
We know most insurance companies to follow both those last 2 thoughts.