99 Peterbilt 379 worth (Insurance)

[AllDodge]

My brother in law (Bo) has 99 Pete, 6x4, heavy springs, C15 motor with sleeper and chrome every where. Has taken great care of the truck and had just had the motor rebuilt. Two weeks later some guy comes around the corner and hits him head on. Everybody is OK and the other driver even admitted to the cops that it was his fault.

The truck has a busted front axle, steering box, bent hood and others. Estimate to fix the truck is 38K and the insurance wants to total it saying its only worth 45K. I'm not a guy who understands the value but this seems a bit low. Did fin out a new C15 is 45 to 50K

 

[AzIron]

in my area you can buy that truck or equivalent between 30 and 50 thousand the price seems ok but it really depends on what you want to do i personally would look strongly at buying it back and fixing it than replacing it if the motor is good but there are a hundred variables involved in it and it could turn out to cost more to fix it

 

[AllDodge]

Appreciate the input, guess the insurance may not be putting the squeeze on him if 50K is the high end. Have seen some listed in that range with over a million miles and no mention of overhaul. Guess it may be the age old issue of, you take care of your truck and all is in great shape, but it still gets measured against the majority of others which may not have had the same attention.

 

[AzIron]

that ultimately is the issue around me you can get a lot of trucks that are from the 90s because they wont meet California emission standards now so it kind of flooded the market. but most trucks of that age have been inframed so its not really a big price changer from what i am seeing occasionally i see one with 50000 or less on an overhaul and it will be a little higher priced than the rest but not considerably

 

[Delmer]

I'm not a trucker so I can't comment on truck value. Is that his insurance, or the at fault other driver's insurance that wants to total it? Either way, their objective is to settle the matter and totaling it at 45 is better than paying 38 to fix it because that 38 could easily turn out way more, and if they total it at 45 they might break even after the salvage value.

His best bet is to buy it back for salvage value, getting it for free basically. Then find used parts to put it back together. That's the way it works for cars in my state at least. No fault insurance might change that, don't know.

 

[Truck Shop]

Buy back will be around ten thousand I would bet because it's a Pete. If it were a Freightliner around four to five. But because it's had a head on collision take a
very good look at the frame rails where the cut out for engine bay and rear motor mounts are. Pete's have tendency of bow or kinking the rails there in those
types of accidents . Especially right behind the rear spring hangers for the front axle. Factory replacement rails are blanks and around $3,800 each and are 28'
foot long. You have to trim new rails for engine bay plus front frame horns and rear trailer tail board. Buying used rails is usually a bad deal and the holes are
in the wrong spots.


Truck

 

[AllDodge]

Will look into and advice Bo all your thoughts. The dealer which did the estimate is also the ones which did the overhaul.

 

[AllDodge]

Talked to Bo tonight, and his truck is a bit different. Appears trying to find a 600HP motor in a 290 inch standup sleeper is not easily found. There is a 300 inch one on truck paper for 109K and another guy which has one with only 60K original miles has been offered 200K and did not take it.

Think the 600HP is something not easily found

 

[Hallback]

600hp is just a tune away on a C15.

 

[Hallback]

If he is really thinking his truck is a unicorn then tell the insurance company to replace it not just pay him.

 

[colson04]

Talked to Bo tonight, and his truck is a bit different. Appears trying to find a 600HP motor in a 290 inch standup sleeper is not easily found. There is a 300 inch one on truck paper for 109K and another guy which has one with only 60K original miles has been offered 200K and did not take it.

Think the 600HP is something not easily found

While I cant evaluate your truck situation, I know from first hand experience that insurance companies will grossly undervalue your vehicle (or home or barn) in order to get ahead in a total loss situation.

This varies by state, but in most states, the ins company must pay you cost of vehicle replacement, plus sales tax plus title fee minus your deductible. They can't negotiate the sales tax or state title fees, they can only negotiate what the vehicle was worth at time of accident.

What they will do though, is try to get you to settle on a total number, and work it backwards to reduce the vehicle's value, thus saving them the sales tax.

Example: I totalled a well spec'd 2011 F150 last year. They verbally gave me a price of $17,000 over the phone. I wouldn't agree to it over the phone, made him send it in writing. In writing, the truck was valued under $16,000 and the sales tax and title fees brought it up to the $17,000 I was told. I went to my local dealer that sold and serviced my truck. He calculated retail price of my truck to be $20,000 at time of incident. I used this written valuation to negotiate on just the vehicle price. I stopped negotiating a 'total ' number and would only negotiate on what the truck was worth. Thus when it was settled and deductible removed, I walked with a check for $20,000. Not perfect, but the truck wasn't perfect at time of incident either.

Make sure all offers are in writing, and review them with a fine tooth comb. Make sure to take your time, and don't be afraid to take a day or two or longer to respond when you counter offer. The insurance company wants to settle as quick as possible because the longer it takes them, the more it costs them in resources and final settlement payout. Get your dealer sales team to help properly assess retail sales value of your rig and always negotiate on vehicle value.

FYI: This generally applies to any type of insurance claim. They want to settle quick and fast while you are troubled with emotions and haven't taken the time to properly assess the true value of the insured item.

 

[Delmer]

It still makes a difference who's insurance company you're dealing with, and state law as well.

 

[crane operator]

I doubt if he had his truck insured for 200k. I'm sure the other drivers insurance company, can supoena his insurance company and find out what value your brother in law told his own insurance company, i.e. what he thought the truck was worth. He had to have insurance on it and I'm sure they could get that figure.

If he has paperwork on the recent inframe, he might be able to get that $ added on.

He could also probably get "rental" rate or loss of revenue out of them for while his truck is unusable.

I see guys trying to sell trucks at a certain price, and then want the value of the recent inframe added on, but I think they rarely get that $ back out of the vehicle. If I'm buying a used truck, yes, I care that it had a recent inframe, but it doesn't up the value of the truck by the cost of the inframe. I always figure if you inframe a motor, and spend big $ doing it, you better drive that value out of it, because no one is going to pay you that value. If its that recent, he should have the paperwork on it, and might have a case for that $.

The sad truth is, if he wants top dollar for his truck, (and it sounds like he does), he's probably going to have to pay a lawyer to try to get it. The insurance companies have their own lawyers and pay them everyday, and have a lot deeper pockets than I personally do. He may spend a bunch of money on a lawyer, and not come out any further ahead, and have to pay his own lawyer on top of that. Its not fair and its not right, but that's the truth.

If he can make the case based on what he's spent on the truck, plus what he gave for it, and show what he has insured it for himself/ or has a bank valuation on it for a loan etc.: I'm afraid just saying "I want $100,000", isn't going to cut it.

From a New Yorker cartoon:

 

[crane operator]

Just for kicks, I looked up a couple auction sites for some 379's close to that. I like to look at auction values a little more than what someone's asking price on truck paper, it shows what things are selling for.

2004 379 $54,000 c15

https://www.purplewave.com/auction/170907/item/DB5853

2000, cat power only brought 21k, but it doesn't look too nice

https://www.purplewave.com/auction/170504/item/DA6067

Another 2000, cat power, only brought 21,000

https://www.purplewave.com/auction/170531/item/DA6114

 

[crane operator]

1994 that brought 28,000

https://www.purplewave.com/auction/170921/item/DI9863

another '98 that brought 31,000

So what Aziron put a value between 30-50, and the insurance offer of 45, and seeing some auction results, I don't think the insurance company is that out of line. All the auction ones are cat powered, maybe not as much wheelbase/ exactly what he had, but the insurance company can look up the same stuff I just did, and use that as a valuation. He can probably fight to get 50, his paperwork on the inframe might help, but I don't think he's getting a lot more than that. The biggest problem in court may be what he had it insured for himself.

 

[Tarhe Driver]

I know very little about insurance (can hardly spell it) but two personal examples: My wife was rear-ended by a concrete truck while she was stopped; that gave her a sore back. The adjuster totaled the older 8-bolt Suburban, but I dithered on settling because the truck was registered out-of-state, they got anxious and eventually paid me almost total for the Suburban and I kept it, then sold it. Same with another, a older Model 80 Landcruiser that had a tree limb fall on it (a comprehensive insurance claim). They wanted to total it, we went round and round and round, then they paid me for damages and let me keep it. A son drives it overseas today. Insurance wanted me to take a salvage title, but I just quit returning their calls, and they dropped that demand. But I didn't make my living with either car, and Bo does with his truck. It's a sticky wicket for Bo.

Neill

 

[AllDodge]

Didn't know about the sales tax and fees, will advise Bo of the issue. So far as the auction trucks I've found similar prices, but also not to use an auction site to get prices. Most cases auctions are the worn out.

BTW, his truck was built in 99 but is considered a 2000

He was on the phone with them 2 1/2 hours and they are going to meet next week to discuss. Says he's going to find ones like his in truck paper.com

This on is like his, differences is he has a stand up sleeper and is yellow and has headache rack
https://www.truckpaper.com/listings/trucks/for-sale/18525749/1999-peterbilt-379exhd

 

[Delmer]

The insurance company has the vin # only unless he specified all the extras. I'd call that green thing heavily customized and the insurance company doesn't care one bit about custom bits, UNLESS he added it to the contract on the application.

It still seems the other guys insurance should be on the hook for this, and you should have more leverage to force them to make it right vs your own insurance company who only has to hold up what's in their contract with you. Again, varies by state and no fault may make me an idiot.

I'll also agree, auctions are not the end all for values, more the low end. In used cars the private party value is between the trade in and the retail value, so you won't get retail (dealer lot) price for this, but you shouldn't take auction value either.

 

[colson04]

The insurance company has the vin # only unless he specified all the extras. I'd call that green thing heavily customized and the insurance company doesn't care one bit about custom bits, UNLESS he added it to the contract on the application.

It still seems the other guys insurance should be on the hook for this, and you should have more leverage to force them to make it right vs your own insurance company who only has to hold up what's in their contract with you. Again, varies by state and no fault may make me an idiot.

I'll also agree, auctions are not the end all for values, more the low end. In used cars the private party value is between the trade in and the retail value, so you won't get retail (dealer lot) price for this, but you shouldn't take auction value either.

I don't know how his insurance policy was written, but mine clearly stated that i was to be reimbursed for replacement value of my vehicle as it was worth at time of incident. That meant a 2011 F-150 equally equipped and adjusted for mileage since that is what I had. They pulled 20 comps to calculate a value from and then adjusted the comps by adding or subtracting my accessories package. All of their comps came from dealer lots so in my case, they were using full retail price for comparison. Only 5 of the 20 comps were final sales, the other 15 were for sale listings.

On a side note, they did request, and I provided, any receipts for service work done and the added to my value for proving a service history.

So, in your your brothers case, they might do something like look at 20 other 2000 Peterbilts with similar mileage and similar ( not exact) chassis configurations, and then make adjustments up for the differences like the 600hp Cat, the sleeper, different wheel base, etc. All this is dependent on whether or not he had enough coverage. If he understated the value of the truck when he insured it to reduce his premium cost, then he's gonna end up SOL.

 

[92U 3406]

Problem is the elogs. They have artificially inflated the value of anything with a '99 and older engine.