UNIMOG-GUY
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- Blacksburg, VA/Denver, CO
Update and outcome of the accident which my M1028A2 that was totaled (not my fault) and the payment for those interested or needing a reference for the future.
Their first offer was $10,913.94 if I kept the truck and $12,921.14 if they took the truck. Which equated to $2,000 for the buy back.
After fighting with the insurance company over the increased value due to the aftermarket modifications and their increased value over stock components for 2 months. I ended up walking away with $13,109.18 for the total loss and got to keep the truck for $2,400. Which I think was a deal on the buy back as the LT engine, 4L80E trans, NP205 transfer case, axles, and other associated upgrades are worth far more than $2,400.
Truck has a salvage title now and I haven’t decided how I’m going to proceed. I had thought about purchasing a M1009 shell that is local to me and swapping its fenders, hood, radiator support, drivers door over to my truck. As my truck still runs and drives. However I’ve also toyed with the idea of just buying another 1028 and dropping in all the upgraded parts.
In conclusion insurance companies are very intentional in their settlement approach and process. Remember they are PROS! They will kick you out of the rental within 2-3 days of the first offer thus forcing most people who don’t have a second vehicle into settling for the initial amount due to needing to be in another vehicle. They are for profit and will do everything they absolutely can do to pay out the minimum amount of money to settle with you. It’s a racket….
Their first offer was $10,913.94 if I kept the truck and $12,921.14 if they took the truck. Which equated to $2,000 for the buy back.
After fighting with the insurance company over the increased value due to the aftermarket modifications and their increased value over stock components for 2 months. I ended up walking away with $13,109.18 for the total loss and got to keep the truck for $2,400. Which I think was a deal on the buy back as the LT engine, 4L80E trans, NP205 transfer case, axles, and other associated upgrades are worth far more than $2,400.
Truck has a salvage title now and I haven’t decided how I’m going to proceed. I had thought about purchasing a M1009 shell that is local to me and swapping its fenders, hood, radiator support, drivers door over to my truck. As my truck still runs and drives. However I’ve also toyed with the idea of just buying another 1028 and dropping in all the upgraded parts.
In conclusion insurance companies are very intentional in their settlement approach and process. Remember they are PROS! They will kick you out of the rental within 2-3 days of the first offer thus forcing most people who don’t have a second vehicle into settling for the initial amount due to needing to be in another vehicle. They are for profit and will do everything they absolutely can do to pay out the minimum amount of money to settle with you. It’s a racket….
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