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GTA CARS FOR SALE Got a GTA that, Heaven Forbid, you're looking to send to a good home for whatever reason? Then post your listing HERE.....!

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Old 05-22-2007   #1
cozmiksoul
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Someone help 1989 Trans Am GTA Convertible!!!!

My beautiful baby was severly damaged in a fire and the subsequent soaking thanks to the fire department. She was one of 2500 custome convertibles made back in 89. She had 30,000 miles on her and was so cherry! Now I need to figure out the estimate for the insurance company and I have no clue how to assess something that I feel is priceless. Anyone have any suggestions or advise?

I am really hoping it's not a total loss and she will now become my new project to bring her back. However, at this point I am overwhelmed. Here's her stats:
30000 miles
automatic
power locks, windows, etc.
Delco am/fm cd player
She had her first brake job in 1999.
If you need any more info let me know.

Someone please help because I want to bring her back to life!
Thank you!
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Old 05-22-2007   #2
merc3065
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Re: Someone help 1989 Trans Am GTA Convertible!!!!

An appraiser and pictures will help you immensely there.

Not sure how the insurance company will take the words of a few people who are not professional appraisers...

They may take the blue book value of the vehicle instead of it's rarity.

My suggestion for you would be to goto an appraiser and see what they can do based on pictures before the fire and base it off it's rarity, mileage, and overall condition.

It's going to be a big crapshoot from the sounds of it though
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Old 05-22-2007   #3
cozmiksoul
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Re: Someone help 1989 Trans Am GTA Convertible!!!!

I emailed Kelly Blue Book. I have about 3 pictures of her that I will be using for the insurance company. Thanks for the insight!
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Old 05-22-2007   #4
Melho18us
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Re: Someone help 1989 Trans Am GTA Convertible!!!!

I am so sorry to hear that. I know how it feels to be stripped of a GTA. Hope everything works out for you.
Mel
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Old 05-22-2007   #5
Stephen
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Re: Someone help 1989 Trans Am GTA Convertible!!!!

KBB returns a BEST value of $2750, but for a hardtop. It has no provision for convertible, since it was factory.
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Old 05-23-2007   #6
Louvers
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Re: Someone help 1989 Trans Am GTA Convertible!!!!

Sorry about your loss man ... that really bites! This is a good lesson for anyone out there that doesn't get thier car appraised and carry collector insurance. Our cars are only going up in value ... and many of them are rare enough already that finding a replacement of equal value may not even be possible.

Usually if you shop the collector car adds you can find something to base a reasonable valuation on for your situation. I think this situation will really depend on your insurance provider and how they approach it but without really good documentation you may be in a tough place with them. I wouldn't back down however and demand a replacement car of equal value ... hopefully you can find a few priced through the roof and they will at the very least settle with you.

Good luck!
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Old 05-23-2007   #7
tandy806
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Re: Someone help 1989 Trans Am GTA Convertible!!!!

I would strongly recommend getting every piece of auction information you can find. Both current listings and prior listings. Also check Hemmings and other publications that sell classic cars. Have this documentation ready for your insurance adjuster. My step son has a beautiful 1987 Iroc. A little old lady pulled out in front of him and did minimal damage. The insurance jerks tried to total the car for next to nothing. We provided all the information we could and came out ok. The "blue book" values of our cars have not yet caught up to the "real" market replacement value. I would certianly referance the Barrett Jackson car as an example. Good luck and I hope you can save your car, Tandy
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Old 05-24-2007   #8
FearThisGTA
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Re: Someone help 1989 Trans Am GTA Convertible!!!!

Also SAVE ALL OF YOUR RCPTS
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Old 05-25-2007   #9
Wes
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Re: Someone help 1989 Trans Am GTA Convertible!!!!

Ouch! Good luck with your insurance company. Hopefully, they will work with you. I agree about getting your car appraised and insured for the true value of the car. It will save you many headaches if something unfortunate happens.
As a side note, I will have my car insured through my regular insurance company for the appraised value. Do I need to look into collector car insurance or am I covered?
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Old 05-26-2007   #10
merc3065
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Re: Someone help 1989 Trans Am GTA Convertible!!!!

If your regular car insurance company will accept the replacement value as it sits appraised, then go for it. Just remember though its probably going to cost you a small fortune...

Collector car insurance is very restrictive about where and when you can drive the car and how many kms/year. But the cost savings is very noticeable.
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Old 05-27-2007   #11
Wes
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Re: Someone help 1989 Trans Am GTA Convertible!!!!

The previous owner told me it cost him about $600 a year through State Farm to insure it for the appraised value of $15k
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Old 05-30-2007   #12
TX_1987_GTA
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Re: Someone help 1989 Trans Am GTA Convertible!!!!

Quote:
Originally Posted by cozmiksoul
My beautiful baby was severly damaged in a fire and the subsequent soaking thanks to the fire department. She was one of 2500 custome convertibles made back in 89. She had 30,000 miles on her and was so cherry! Now I need to figure out the estimate for the insurance company and I have no clue how to assess something that I feel is priceless. Anyone have any suggestions or advise?

I am really hoping it's not a total loss and she will now become my new project to bring her back. However, at this point I am overwhelmed. Here's her stats:
30000 miles
automatic
power locks, windows, etc.
Delco am/fm cd player
She had her first brake job in 1999.
If you need any more info let me know.

Someone please help because I want to bring her back to life!
Thank you!
What ever happened with this? I am curious to know how this came out......
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Old 06-27-2007   #13
gtayumiko
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Re: Someone help 1989 Trans Am GTA Convertible!!!!

Quote:
Originally Posted by cozmiksoul
I emailed Kelly Blue Book. I have about 3 pictures of her that I will be using for the insurance company. Thanks for the insight!
I am curious to know how this was taken care of as well. Because it seems that this owner is trying to put a worth price on this car for insurance claim purposes after the fire. In which case the insurance company will only give blue book value only if the owner had full coverage on the car already before this fire. The only time insurance companies will give more then blue book value is if a set value of a car was established before the loss occured. This car is an 1989 and Farmers Insurance (and perhaps many others) will not give full coverage to a car that is 15 years and older without getting an appraisal on it first.

And then even if the owner has full coverage, the insurance company will have an investigator look at the car and if it has been modified where the modifications is what perhaps caused the fire such as altered exhaust, electrical wiring which include installed aftermarket components such as amps, navigation, alarms, stereo and video equipment, etc. If any of that caused the fire, the insurance company could also not pay because they insured an unaltered GTA. When getting full coverage, read the contract closely and you will see all that will void insurance coverages.

So his problem in getting money for the loss is first if he had sufficient insurance coverage, regardless of what pictures he has of how it was. If the insurance company did not establish a worth value before the fire, they will not establish it after. If he did have full coverage and an established value, the insurance company will investigate the remains of the car and if they find that the fire was started from a modification, they may void the coverage. In which case if, let us say that the insurance company determines that faulty wiring to some equipment in which he went to a stereo place and had them install a stereo is to blame for the fire, he will then need to sue the stereo place for the damages. Yet the stereo place may have had a work contract that he signed which the fine print says that they are not liable for this type of damages.

I do not think he will get anything more then blue book value if anything in my opinion. The car is over 15 years old which means he would have had to get it appraised before most insurance companies would give him a full coverage insurance contract for this car. And the only thing I see he did was have three photographs taken before the fire.

Insurance companies do this because so many people in the past would burn cars or allow them get stolen on purpose and then attempt to get more in an insurance claim then they could by selling it at a used car lot or on e-bay.

Yumiko
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Last edited by gtayumiko; 06-27-2007 at 04:42 PM.
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Old 06-27-2007   #14
merc3065
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Re: Someone help 1989 Trans Am GTA Convertible!!!!

If it's in a garage and on your property, generally speaking your home owner's insurance covers the contents of the garage.

If a car is parked inside and the garage caught fire, then the house insurance takes over and is there to replace the contents.

It's the same if you had fire insurance on your car, if the car catches fire, it's there to replace the value of the car and possibly replace the contents.

But you are right, if the car was not appraised prior to the insurance being established, then don't expect more than the blue book, pictures or not.

Most companies (facility & brokers mostly) will insure older cars without an appraisal.

Most mainstream companies like allstate or geico require appraisals done on vehicles older than 15 years.
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