I'm an insurance agent in Ohio. The purpose of insurance is to put you back in the same financial position that you were in at the time of the accident, no better on worse. Future considerations - collectable values, future race winnings, ect are pure speculation and cannot enter into a settlement.
The other person's insurance company should put the car back into the same condition that it was at the time of the accident.
My son's 87 Camaro Z-28, 32000 original miles was t-boned the only time he took it out last year. the other person's company (Progressive) worked for a month with him to redo the car to it's orignal (at time of accident) condition.
The other company's obligation is to leave you no better or no worse off than you were at the time of the accident. they are not out to screw you. Good luck, I hope that you can be satisfied.
'The other person's insurance company should put the car back into the same condition that it was at the time of the accident.'
Michigan is a 'no fault' state. I've had 3 wrecks in 15 years. The other driver was ticketed in all the accidents. My insurance (state farm) restored my vehicle all 3 times.
Are all states like this (no fault) ??
I understand completely that I am not entitled to betterment. I do realize a diminished value though and will try to document even for a 10 yr old Chevy. I do not race for $ just for fun. I am just not sure I can trust a car that has been tboned at speeds over 100 mph though. My guts are saying no.
Thanks though. I hope you are right that I just get a fair shake. What is the industry "feel" on Allstate?