bashcraft

There was no LT1 in '69.

BBCorv70

If it's truly a 69, I don't think it could have ever been an LT1. Didn't the LT1 come out in 1970? More likely the hood was changed some time ago.

gungatim

I call BS on the "offer to buy at $10k". how does that work when they don't own it yet and it's not on the market? a buddy of the adjuster's?

I would take the $17k then buy it back when it hits the auction for $3-4k...but that's just me...you should negotiate and push much harder to get a better price from them.

they should be able to budge from $7500 to the $11-12k it takes to get repaired with a bit of hardball negotiationg.

and I would also question why the shop waited on the estimate. All body shops I've ever dealt with give free estimates, they don't wait for the insurance to come back so they can pad the #'s.

qwank

If they say the car is worth $17K and you have an estimate from a legit shop for $12K to fix it, they should pay to have it fixed and the title should stay clean. But I think your car was worth more than $17K before anyways, so they definitely should fix it with a clean title.

DUB

AS I wrote before...I deal with this from time to time.

When an 'estimated value' is 'questioned'. A couple of automobile adjusters who evaluate a cars value are sent out. Generally...but not always...the average of these quotes of the cars value is what is then used. THEN 75% of THAT VALUE is what is used to determine a 'total out' scenario. From my experiences.

As it was mentioned...charging for an estimate is something that I will do when it is an extensive estimate. Like any of you would spend hours and hours and hours not get paid for it??? I have spent as much as 6+ hours on a serious estimate on a Corvette before. 99% of them are free..because they take just a few minutes to put something on paper that will more than likely change when the repairs beginning and finding 'hidden damage'.

And as "gwank' mentioned......which makes taking all the money and buying it back in a an auction is that the car then will have a SALVAGE title. Thus...is not longer CLEAN and mentioned by 'gwank'.

I also agree that I feel the car is worth MORE than the value currently given.

DUB

71 Vert LS1

As it was the other drivers fault contact their insurance company to let them know you need to start sending the medical bills to them directly. You may have some late onset whip lash that may need attention. They will be more than happy to settle if you sign a release. And never never never take their first offer.

BBCorv70

I wonder if this car will end up with a salvage title either way, taking the full payout or buying the car back. I had a similar decision to make with another car a few years back, option to take the full payoff or buy it back and pay the difference for repairs. As much as I loved the car it seemed I would be stuck with a salvage title and be exposing myself to unknown increases in repair cost as work progressed. If the car as great sentimental value, a salvage title may be acceptable? Maybe contact the insurance company or DMV, find out if the car can be repaired without being assigned a salvage title?

bashcraft

If you buy it back, the title never changes hands, so there's no way for it to be changed to a salvage title. If you were told it would be, someone lied to you.

BBCorv70

This was just my assumption. The biggest reason I let the car go was because I had no idea how much the cost may escalate once the body shop started to work on the car. It wasn't a Corvette or anything classic, felt I was better off letting it go.

redrdstr72

FYI/ FWIW, the LT1 option debuted in 1970, therefore, yours can't be a LT1. The 350/350 was the L46 option, but that option did not include a power (big block) hood. The L46 is a nice set up with premium value, but with yours having a replacement engine, the value for that will be diminished. That said, it still feels to me that the offered settlement is low. As has already been shared here, it's very difficult to estimate a car's value on the few photos shown in this thread. I suggest some legal advice...

ClassicGlass63

A lot has been said, but I went through something similar years ago with a black 69, 350/350, A/C car.
I had just put quite a bit of money into the car. So, what I did was, I took the $10,000 at the time, which was very fair then. But, I also told them I wanted some of the parts off the car.
I took a big block hood, as you could, the gauge bezel and gauge cluster, air cleaner, ignition shielding, and a bunch of other small stuff.

As one of the other members mentioned, finding a good big block hood might run you $1,000.00. Remove the problem and ask for the hood.

The $17.000 seems very fair to me. You could get a decent car for that.

Personally, I let them total my old 69. It turned out to be the best thing I ever did. I sold a 68 roadster that I had at the same time, took the $10.000.00 from the 69 and bought my first house.

Back in the late 80's Corvettes and houses were still affordable. I did hurt not to have a Corvette after owning two of them, but being 27 and having my house felt pretty good too.

After a couple of years I found a red with black deluxe interior, 4-speed, A/C, PW, PS, tilt-tele car that is still sitting in the garage next to my Split Window.
Again, everything was still affordable back then.

Best of luck, but you have the chance to come out pretty good in this deal

Iceaxe

FWIW: Hagerty values a condition 2 (which yours certainly was) 1969 Corvette L46 at $22,500. Corvette DNA values it at $25,500.

One of the items that should be near the top of your to-do list is to place a value on what your car was actually worth. You need to back this up with some documentation like Hagerty and Corvette DNA print outs, similar cars currently for sale. Bottom line is you need to document what it would cost to replace the car with a similar car. Present the value and documentation as the value you will except to total the car.

I recently went through this with a car my kid totaled, the time spent doing a little documentation work was well worth the effort. In fact the insurance company looked at my papaer work and agreed to my price.

Hope that helps.

CheezMoe

^This^^ I would already be telling the Progressive dudes if they are not willing to pay a qualified shop to fix the car back to the condition it was in before their client defaced it, to prepare to lawyer up!

7T1vette

Why are you screwing with this insurance company? They've valued the car at more than what it will cost to fix. Their repair estimate means NOTHING! Demand that they fix YOUR car to YOUR satisfaction and YOU choose where you want it fixed.

If they don't like that approach, call the Insurance Commission in your state to set them straight.

After this 'episode', get collector car insurance!!!

BBCorv70

This car is a NOM, do the Hagerty or Corvette DNA valuations apply? Not saying they don't but I'd suspect the number may be a bit high for a NOM. Is there a condition code which applies to NOMs?

Iceaxe

Hagerty is an average of what the cars are selling for, which includes both numbers matching and none original motor. I'd wager the fact the car was a 4-speed would easily make up for the NOM. Also Hagerty's description of a #2 car states something about a #2 car doesn't have/require original equipment.