Wrecked
10-20-2022, 10:22 AM
#41
Race Director
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If you have an agreed value policy the amount you receive, if the car is a total loss due to accident, fire or theft the agreed amount stated in your policy.
The Insurance Co will total the car. They won't authorize $60K in repairs that will surely result in supplemental requests additional costs that will drive the repair cost even higher and more importantly they don't want the liability associated with any frame damage.
The adjuster will make an offer to settle the claim. If you don't have agreed value this is where the not so fun starts. He will base the offer on what it will cost to replace the car. My guess is he'll research cars that are for sale similar to yours and deduct the cost of the engine replacement.
To be prepared you need to get busy and find cars similar to yours for sale in order to negotiate. Keep in mind added to the replacement cost are taxes and other fees.
Good Luck
The Insurance Co will total the car. They won't authorize $60K in repairs that will surely result in supplemental requests additional costs that will drive the repair cost even higher and more importantly they don't want the liability associated with any frame damage.
The adjuster will make an offer to settle the claim. If you don't have agreed value this is where the not so fun starts. He will base the offer on what it will cost to replace the car. My guess is he'll research cars that are for sale similar to yours and deduct the cost of the engine replacement.
To be prepared you need to get busy and find cars similar to yours for sale in order to negotiate. Keep in mind added to the replacement cost are taxes and other fees.
Good Luck
10-20-2022, 11:08 AM
#42
The hole in the pan resemble an exit would from piston. Do you have any information on the rotating assembly that failed? I am assuming resized gm rods / oversized bearings on a cut gm forged crank, and maybe new at the time of rebuild good quality aftermarket rod bolts? The photos of the chunks look to be GM parts?
10-20-2022, 11:24 AM
#43
Trying to comprehend
In your duplicate thread, you stated, "I was driving down the freeway and the engine exploded did two 360s and slammed into a wall at about 70."
How the heck did an engine failure send your car into two 360 degree spins? I've blown up a few good motors (some pretty violently) while running well-over 70 mph and never lost control....just lost power, and coasted to a stop....What caused the spins?
How the heck did an engine failure send your car into two 360 degree spins? I've blown up a few good motors (some pretty violently) while running well-over 70 mph and never lost control....just lost power, and coasted to a stop....What caused the spins?
10-20-2022, 11:29 AM
#44
Race Director
It was in the duplicate post (well, almost duplicate) he made that has been closed.
10-20-2022, 11:34 AM
#45
Tether Man
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2023 C2 of the Year Finalist - Modified
2022 C2 of the Year Finalist - Unmodified
2019 C1 of Year Finalist (appearance mods)
Last Chime in for me......Literal Shrapnel from the components exiting the Oil Pan could have possibly punctured that rear left tire......All bets are off at speed and possible Drive train lock up...Just a guess!!!!
Last edited by dcamick; 10-20-2022 at 11:41 AM.
10-20-2022, 11:35 AM
#46
Perfect time to do a restomod.
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CorvetteMikeB (10-20-2022)
10-20-2022, 11:39 AM
#47
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Last Chime in for me......Literal Shrapnel from the components exiting the Oil Pan could have possibly punctured that rear left tire......All bets are off at speed and possible Drive train lock up...Just a guess!!!!
Note: Would be interesting to see the right side of the Corvette. Engine parts exited right side of pan.......
Note: Would be interesting to see the right side of the Corvette. Engine parts exited right side of pan.......
10-20-2022, 11:40 AM
#48
Instructor
Thread Starter
I don’t remember anything, suddenly there was a guy standing next to the car saying he had called the police but the marks in the road showed what it did, there was not a lot of oil on the road but that was 3-4 days later that I looked at the site. If I had had the presence of mind I guess I would have pushed the clutch in, might not have helped.
10-20-2022, 12:28 PM
#50
Pro
Thanks for coming back to answer questions. Good luck with your resolution and glad you survived it - NUTS to think in this day and age you can just be driving along and bam screech bam as quick as that 
... modern engine and presumably modern tires, but I'd guess 60s safety tech probably played a part in your personal injuries.
That was a great lookin' car.
... modern engine and presumably modern tires, but I'd guess 60s safety tech probably played a part in your personal injuries.That was a great lookin' car.
10-20-2022, 12:40 PM
#52
Safety Car
Having been hit by a semi in my 64 I’ll chime in FWIW:
1) do you specifically have agreed value vs stated value? In an agreed value collector policy the car is insured and your premium based on the exact payout to you if it’s totally. End of story. With stated value you’re still subject to some finagling about what your car is worth.
2) do you really want this car back even if it could be fixed? As you describe- sans photos- I certainly would be happy to walk away with an agreed value payout.
3) why would you want it fixed?
4) what insurance company doesn’t accept vins from year of manufacture
5) based on a simple repair of my non-frame-damaged car (basically a door and quarter and a repaint) at prices 9 years ago do you really think a qualified shop can/would rebuild the kind of damage you’re describing for $60k? $20k paint jobs are now everywhere and that’s on good bodies
6) let’s see some photos from the wreck
7) is this post for real?
1) do you specifically have agreed value vs stated value? In an agreed value collector policy the car is insured and your premium based on the exact payout to you if it’s totally. End of story. With stated value you’re still subject to some finagling about what your car is worth.
2) do you really want this car back even if it could be fixed? As you describe- sans photos- I certainly would be happy to walk away with an agreed value payout.
3) why would you want it fixed?
4) what insurance company doesn’t accept vins from year of manufacture
5) based on a simple repair of my non-frame-damaged car (basically a door and quarter and a repaint) at prices 9 years ago do you really think a qualified shop can/would rebuild the kind of damage you’re describing for $60k? $20k paint jobs are now everywhere and that’s on good bodies
6) let’s see some photos from the wreck
7) is this post for real?
I have them also and just raised my agreed value to $100k on my 66 and it was just a few bucks a month.
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ChattanoogaJSB (10-20-2022)
10-20-2022, 12:47 PM
#53
Team Owner
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St. Jude Donor '05
Page Adam at NCM (Hes a member here) see if he can explain your policy better to you.
I wouldnt want the car with 60k in damage, one reason not to over insure them.\
most cars, unless unibody can be made the same if not better than they were. Believe me Ive folded up my share
Fighting ins co yourself...may be tough. I fought mine for almost a yr got nowhere lost my friggin shirt.
They dont cover exploded engines...id be leaning on the shop for an EFI Conversion that was obviously never ironed out before it left the shop
"Nothing but the best for my baby!!"
I wouldnt want the car with 60k in damage, one reason not to over insure them.\
most cars, unless unibody can be made the same if not better than they were. Believe me Ive folded up my share
Fighting ins co yourself...may be tough. I fought mine for almost a yr got nowhere lost my friggin shirt.
They dont cover exploded engines...id be leaning on the shop for an EFI Conversion that was obviously never ironed out before it left the shop
Where you tuning the engine at 9k rpm when it exploded
Last edited by cv67; 10-20-2022 at 12:56 PM.
10-20-2022, 02:53 PM
#55
Drifting
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Sorry to hear about your accident. Glad to hear you did not have more serous injuries. Your description is a reminder how quickly things can happen.....
Hopefully all goes well with the insurance company......
Curious about what the issue was with the engine? You mentioned it was running rough...... what was it doing?
We have had our share of times, staring at an oil pan full of shrapnel and a ventilated block, trying to figure out the chicken or the egg, what happened first???
Hopefully all goes well with the insurance company......
Curious about what the issue was with the engine? You mentioned it was running rough...... what was it doing?
We have had our share of times, staring at an oil pan full of shrapnel and a ventilated block, trying to figure out the chicken or the egg, what happened first???
10-20-2022, 03:52 PM
#56
Le Mans Master
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My short advice.....
Find a reputable Corvette shop.
Not a body shop.
Good luck
Find a reputable Corvette shop.
Not a body shop.
Good luck
10-20-2022, 03:54 PM
#57
Race Director
Glad to see the OP came back with more details and answered questions. Hopefully that has satisfied his doubters and detractors. I think a couple folks owe him an apology……
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ChattanoogaJSB (10-20-2022)
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carl3989 (10-20-2022)
10-20-2022, 05:56 PM
#60
Le Mans Master
Car is trash. Very unfortunate as it is a really attractive car as pictured. Take the insurance money and move on.
Engine is trash. Body can be repaired. You stated frame is damaged. You are now in restomod territory and it isn’t going to be inexpensive.
If you’re interested in restomod buy one that’s turnkey and of your liking. Saves lots of time and could be considerably less investment than attempting to build one from your damaged hulk.
Engine is trash. Body can be repaired. You stated frame is damaged. You are now in restomod territory and it isn’t going to be inexpensive.
If you’re interested in restomod buy one that’s turnkey and of your liking. Saves lots of time and could be considerably less investment than attempting to build one from your damaged hulk.