Values

[Marty_d3f81b]

A friend of mine was just in a black ice rollover accident. Thank God she survived. The 1999 4Runner not so much. The insurance company is trying to total her vehicle and give her $5000. Any thoughts on the value of that rig. She paid $20,000 about 1 1/2 years ago.
Shout out to Toyota 4 Runners. EMTs were amazed she walked away.

 

[Dilldog]

Was it paid for? That 5K is probably what's left after squaring up the loan. Wich in that case I would take it as a win. If not, then they are probably just paying book value, which for a 24 year old 4Runner, 5K sounds reasonable to me, 20K is completely unreasonable.

 

[19mystic96]

Glad to hear she's ok. That's something I couldn't imagine being in..

If she paid 20k for a 1999 4r then she will likely not be getting anywhere close to that from insurance unless she has proof of it being worth that much. She might be able to squeeze a bit more than the 5k if she can show her insurance what comparable vehicles are being listed for. A quick CL search in my area shows the listing rate of those are around $7000. Some more, some less.

 

[MOAK]

That’s a tough one, we never know how good our insurance is until we need it. I’ve a 96 LC LX450. My agent and the underwriters assured me that I would be compensated replacement value. We pulled up flea bay and they were both shocked at the prices. Rust buckets for 5-7k and pristine overlanders 20-30k and more. The gal needs to sit down with here agent, pull up some examples and get more than what they have offered. I would not hesitate to hire an attorney to go after them. Insurance is one of the biggest rackets that we must submit to. Make ‘em pay.

 

[BCMoto]

Im sorry but paying 20k for a rig that old, Unless it was super outfitted with extras I dont see you getting that I think the 5 to 7k is about where its at for that. Also what insurance carrier does she have? Was all the gear and mods insured also?

 

[billum v2.0]

Take a look over at Bring a Trailer, you'll see eye watering prices for nearly new (condition) 3rd gens.

I've had a couple older vehicles that were insured for "stated value" rather than market. Otherwise, regardless of how pampered or conditionally clean, you're at the adjuster's mercy.

No Reserve: 2000 Toyota 4Runner SR5 4WD

Bid for the chance to own a No Reserve: 2000 Toyota 4Runner SR5 4WD at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #95,696.

bringatrailer.com

Supercharged 1999 Toyota 4Runner 4x4 5-Speed

Bid for the chance to own a Supercharged 1999 Toyota 4Runner 4×4 5-Speed at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #77,625.

bringatrailer.com

 

[MOAK]

Take a look over at Bring a Trailer, you'll see eye watering prices for nearly new (condition) 3rd gens.

I've had a couple older vehicles that were insured for "stated value" rather than market. Otherwise, regardless of how pampered or conditionally clean, you're at the adjuster's mercy.

No Reserve: 2000 Toyota 4Runner SR5 4WD

Bid for the chance to own a No Reserve: 2000 Toyota 4Runner SR5 4WD at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #95,696.

bringatrailer.com

Supercharged 1999 Toyota 4Runner 4x4 5-Speed

Bid for the chance to own a Supercharged 1999 Toyota 4Runner 4×4 5-Speed at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #77,625.

bringatrailer.com

Agreed- 20k is not an unusual price to pay for a pristine example of many many old vehicles. Even mid 60s VW bugs are going for dollars in the mid teens. Anything Toyota or Lexus? Forget it, you’ll be paying top dollar for them.

 

[Murphy Slaw]

Insurance is great until you need it.

It's the biggest scam on the planet.