How to value my car - It was totaled and need help with insurance - Mercedes-Benz Forum

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post #1 of 7 (permalink) Old 08-01-2010, 09:00 PM Thread Starter
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How to value my car - It was totaled and need help with insurance

Hello and bad news. We lost a great car recently.

My friend had a beautiful '88 Mercedes 560 SL. It was burgundy with hard and soft tops and had 32,000 miles. Interior was perfect with tan leather in what appeared to be like new condition. Everything worked in the car perfectly and the car had been heavily serviced to maintain its like new status.

She had loaned it to her father who got it involved in an accident. The frame was bent badly and the car was pronounced totaled. It is very sad as it was a unique car. We had gone to a restaurant the week before and the valet remarked that this car was his favorite. I'm sure many people online here know how great these cars are.

My question is: how does one arrive at the right value for a car like this with the insurance company? I searched around to find comparables. After providing information on asking prices, the insurance company raised the proposed settlement to $18K. Do you think this is sufficient? If not, can you help us with better data to support a higher valuation? Any help would be appreciated. Sorry to login for the first time with such bad news, but I do have to say the car did a great job in the accident. Her father walked away unhurt.
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post #2 of 7 (permalink) Old 08-01-2010, 09:49 PM
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Have you been over to to check their classifieds? They are a terrific SL specific resource and the folks who run it may be able to offer some advice as well.


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post #3 of 7 (permalink) Old 08-01-2010, 10:01 PM
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i'm not really sure about the insurance problem..but maybe to help out with pricing you can check online auctions and use kelley blue book
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post #4 of 7 (permalink) Old 08-02-2010, 04:17 AM
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18K seems about right,with a car like that she should have an insurance contract with a agreed value the lies the mistake she made.
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post #5 of 7 (permalink) Old 08-02-2010, 07:17 AM
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Most insurance policies base compensation on the concept of actual cash value (ACV). The ACV is what the item, in similar condition, would sell for in todays marketplace. Insurance companies, in order to simplify and standardize their payouts, use databases to arrive at a base figure. Customers can contest the ACV, but it's their responsibility to provide the current evidence or appraisals.

If you have a special car, consider what kind of insurance you have and the coverages that apply.
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post #6 of 7 (permalink) Old 08-03-2010, 08:41 PM
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There was a car that should have screamed for an agreed value policy. Seems pretty obvious by the mileage and condition that it would have qualified. My 560SL was totaled last year. Hagerty wrote me a check for the agreed value of $25K - no hassles, no issues. See - Mercedes Stuff

'59 220S Cabriolet - for sale -
'83 240D original owner 351,500 miles - for sale -
'88 560SL 41,000 miles being parted out -
'99 E300 turbo 196,000 miles
'03 SLK320 34,500 miles
'14 Smart electric
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post #7 of 7 (permalink) Old 08-04-2010, 01:32 PM
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I would go to the and get a value from them. I have a euro 85 500 SL and the high retail came up at 31000 which is a lot for that car. but with low miles like what you had you should get much more than 18000 for that car
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