[Burbankcal]

Wow, I was totaled, T-Boned last week. 24 yr.old gal ran a red light and didn't even brake.

Luckily there was an eyewitness who stepped forward and gave me his info. I went to Urgent Care right away who gave a useless cursory exam. I contacted my lawyer (PI) specialist and he set up immediate medical attention. I have a concussion, neck and upper back trauma, dizzyiness, nausea and bruised ribs. I have an appt. with Neurologist this week. I'm angry as hell with angst!

I'm sure the reason I'm not more seriously injured is because the battery on the floor requires a strong chassisand the Volt didn't buckle as a lesser car might have.

My 2011 Volt is #23 of the first 100 built. I have the documents and coffee table book that comes with a Commemorative edition of the Volt. It had only 56,000 miles, has celebrity status. My brother in law Hector Elizondo sold it to me to keep as a future collector car. MY INSURER MERCURY has offered $12,500 for the car, which is unacceptable. My Volt has EVERY OPTION, and PEARLESCENT WHITE PAINT. It's the most Premier Volt one can purchase.

The only comparison I have found in Southern California is a 2016 with 37,000 miles at $23,000. I have found a 2011 with 36,000 miles for $16,000, but not the special paint and from CarMax (would you ever buy a car from CarMax!).

Can anyone reading this post point me to the GM rep. who used to post on this forum or Public Relations for GM/Chevy and ask them; what value would they give for Volt #23 should be. I'd appreciate it, looking forward to my next Volt!
Last edited by Burbankcal; 4 Minutes Ago at 03:19 AM.

 

[pianocaddie]

What a terrible experience. I hope your medical issues are resolved in a satisfactory manner.

Is/was the car insured as a one-of-a-kind "collector" car? Were you paying an insurance premium sufficient to cover the replacement cost of a "collector" status car? I would think this aspect is critical when determining the replacement cost of your car.

My wife and I are musicians, and own irreplaceable, "one-of-a-kind" instruments, which are insured accordingly, with premiums (very high) that reflect the value of the instruments. I would think that, unless your car was similarly insured, you'll have a tough time recovering a dollar value anywhere near your, or GM's, perceived value of a "collector" car.

It's a very tough discussion, for sure, and I'm sorry for your situation. I'm glad your Volt protected you from serious physical harm!

 

[Cheburashka]

It's terrible that your car was hit, and I feel for you. Still, I think if your car has collector status which you think boosts the value, you need to get an insurance policy that specifically points out that collector status. Otherwise, your insurance company just sees it as an eight-year-old daily driver. I just bought out the lease on my 2015 with similar mileage but fewer options for pretty much what they offered you. Comparing your 2011 to a 2016 (Gen II) isn't an accurate comparison, since the Gen II cars have a much higher blue book. What they offered looks like "private party" value on KBB for a car with the specs you described. In the LA area, 2015 Premium Volts with lower mileage are going for 15K or less

 

[wws]

Car collectors often use special "agreed upon value" policies. Unfortunately they also come with strings attached. These include mainly driving to/from car shows (e.g., no commuting), no teen drivers, always garaged, etc. I have this type of policy for my Reatta convertible, and actually save money by doing so.

Also - I agree with others that you should definitely go through your insurance to go after the other persons insurance. It is what you are paying them for.

 

[JRRF]

It may have been #23, or #3, but I don't see any Volt as a collectors car. Maybe after 25 years (different in different states), you could register it as historic. Otherwise I think it's just a car with sentimental value that probably won't be compensated for.

 

[Barry]

That car might someday have become a desirable collectible model, and the commemorative status would then make it more valuable in that context. But to determine the value today, you would need to compare it to sales of similar cars to prove the current market value. I doubt those commemorative editions are trading at much of a premium yet. But if you can demonstrate that they are, then you may be able to get that valuation. At least you would have an argument to support it. But you won't get anywhere if you just believe that someday it would have become valuable. People collect lots of things that never increase in value, so an insurance company is not going to pay based on speculation.

 

[Don M]

I seriously doubt that 1954 Corvette #23 is worth any more than #223 . . . . may well be worth less

#001 frequently is worth more than any other, assuming the car turns out to have some collector value - We'll know about the Volts collector status in another 50 years or so

If someone actually did offer you $12.5K in a settlement, I'd grab that check and laugh all the way to the bank!

Don

 

[CCIE]

There's no such thing as a commemorative Volt. The coffee table books went to all early buyers. I got one for my 2012. Maybe if your Volt was VIN#1 it would have some small increased value. It's a small sedan, not an exotic sports car, so it's unlikely to ever be collectable. I'm surprised they offered you $12,500 for the car. I'd take it and run.

 

[scottf200]

Very sorry for the accident and I hope your health returns to normal.

My 2011 Volt is #23 of the first 100 built. I have the documents and coffee table book that comes with a Commemorative edition of the Volt. It had only 56,000 miles, has celebrity status. My brother in law Hector Elizondo sold it to me to keep as a future collector car. MY INSURER MERCURY has offered $12,500 for the car, which is unacceptable. My Volt has EVERY OPTION, and PEARLESCENT WHITE PAINT. It's the most Premier Volt one can purchase.

I think you are way over valuing the 'commemorative edition' aspect. (i.e. celebrity status, 'Every Option', etc). You should take the 12,500 and be reasonably happy about it. I have an early 2011 and am just happy it had a long warranty to get things fixed (AC to DC charger, section of battery, etc).

and PEARLESCENT WHITE PAINT. It's the most Premier Volt one can purchase.[/QUOTE]

 

[uchual]

I think it has been said loud and clear. The car was not a collectible by any stretch of imagination. It was a nice car, though, and I think that the insurance company is actually offering you good amount of money for the totalled vehicle.

 

[FI Spyder]

As a collector car guy, the only thing you are going to get from your insurance company is Blue Book value. It's what you paid for. It wouldn't qualify as a "collector car" here as they have to be 25 years or older or 15 years if the manufacturer has gone out of business (no longer making automobiles), don't know you local "state regulations". If you previously had it appraised by a professional appraiser and you had it insured for that you could get that money. When I purchased my used Volt I bought extra insurance (from a separate insurance company) that if it was totaled in next five years, I would get $20,000. They also pay any deductible on any accident. Cost me $1,000 Cdn. for the 5 year coverage.

 

[obermd]

Take the money and use it as a down payment on a new Volt or Bolt. You'll also get the $7,500 tax credit plus any credits from your state.

 

[Steverino]

Ouch, that's awful. I'd hate to lose my 2011.

I agree with the others though, the insurance offer is on par (actually higher) with the current market value of the car. I still think of my 2011 as a $44k (less $7500) car, but the market does not. The market says it's an under $9k car. Collector status is not something official. Besides, like most collectibles, it only has extra value if you can find a buyer who is willing to pay what you think it's worth. Otherwise, it's just your opinion.

 

[turboguy327]

How is a 2016 in any way, shape or form like a 2011 besides they both plug in? Take that offer and run.

 

[Burbankcal]

That's a great coverage $1000 for 5 years!! I would have bought that in a minute!

 

[Prohidium]

With #23 gone, the remaining first 50 volts are probably still worth the same with the exception of #1.

 

[Belgin]

It's only unusual if it had been stored in a climate controlled garage and had 100 miles on it. It will never be collectable because GM never gave it any press to make it a desirable car. Those who know the history of Volt can appreciate the road it paved for EV's. The rest of the public just views it as an overpriced Chevy from the Obama era.

 

[Jimbo62]

I seriously doubt that 1954 Corvette #23 is worth any more than #223 . . . . may well be worth less

#001 frequently is worth more than any other, assuming the car turns out to have some collector value - We'll know about the Volts collector status in another 50 years or so

If someone actually did offer you $12.5K in a settlement, I'd grab that check and laugh all the way to the bank!

Don

I agree with Don

 

[VoltenRock]

I’m real sorry for this accident and would be equally frustrated by the entire situation. Unfortunately, the market hasn’t priced the 2011s as collectors yet—but might at some point in time. While bad right now, with 2011s still available used, best bet might be to take the money and go hunting for another early VIN 2011. They won’t be priced, yet, as collectors and you might be able to get something close to what you had.

Nothing will replace the connection with that early build Volt, but financially you might be able to make the “investment” with a different 2011 if you can locate one.

 

[jbakerjonathan]

I’m not sure what the tax regulations are today, but, back in 1966 I sold my one year old 1965 Porsche 356 SC cabriolet, that had been rear-ended and repaired, in order to raise money for a down-payment for my first house. I had to sell the car for less than market price because of the decreased value. I declared the loss on my income tax return and argued in writing that it was a casualty loss. It was accepted without question.

Perhaps you can do the same.

I'm glad that you were in a Volt. They are like tanks in an accident. i hope that you make a complete medical recovery.