[bbrah]

I just read the "vehicle title scam" post and it reminded me of a problem I'm having. Well actually a problem a co-worker is having. I know someone who's having trouble with his insurance company (USAA) about the value of his totaled car. He was rear-ended and his car was totaled. Instead of pursuing the other guy's insurance company, he subrogated to USAA, who now wants to give him "fair market value" for his car. When it's all said and done, the guy will lose almost 20% of the "replacement cost" of the car.

Bear with me, I'm getting to how this relates to G wagens. Yesterday I got my insurance renewal from USAA and noticed that the premiums I'm paying for my 1980 280GE are $5 lower than what I'm paying for my wife's 1997 Honda Civic. Hmmm, I thought, does this meann that I'm underinsured? Because I'm pretty sure that my truck is worth (at least a little) more than her car. Well, I called USAA to ask how they determine the value of vehicles when they are totaled and the agent said that they use the "Blue Book." "What if my car's not in the blue book" I asked. Well, he said in that case we'll look at "Fair market value." Ah ha! But what if there isn't really a fair market?

The cost (value?) of pre-MBUSA G's can vary by orders of magnitude. Obviously the condition, model rarity, and accessories are the biggest factors determining price. Add to this the emotional aspects, and you could have two identical vehicles that vary in sales price by as much as 50%.

I asked about "agreed upon value," and he said that he would transfer me to that department.

When I got on the phone with another agent, I asked her about agreed upon value, and she initiated a policy price quote. After asking me a bunch of questions she quoted me a price that was $70 lower than what I'm currently paying (based on an agreed upon value of $15,000, and contingent upon me storing the truck in a locked garage when I'm not driving it). Since my garage is now a workshop without a working garage door, this requirement is impossible for me to meet; I thanked the agent for her time and hung up.

My questions for the list are:
1) Has anyone filed a claim against USAA for a totaled G? If so what was your coverage and what was the result?
2) Should I keep my current policy and risk a messy fight over "Fair Market Value" in the horrible event that my truck gets totaled?

Any advice is most appreciated.