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trailer accident - questions

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dressagelvr
Reg. Mar 2013
Posted 2013-03-22 10:28 PM (#150739)
Subject: trailer accident - questions


Member


Posts: 5

Location: WI

Hi,

I'm new here.  I was rear-ended while hauling my trailer this past Sunday.  I was stopping to turn and the guy behind did not see me and hit me (alcohol was involved on his part). Anyway, I'm guessing the trailer is totaled, thank God there was not a horse in there.  Anyway, I'm wondering if anyone has experienced anything like this?  If so, I could use some guidance...

How is a trailer deemed "totaled"?      My frame appears to be bent, the right side is crushed forward, it's a mess.

What if the ins. co. can't find it's value because they can't find one similiar?

How do I go about finding its value?  I can't seem to find much out there.  It's a 2002 Featherlite Model 9804, 2-horse slant with dressing room, rear tack.  It was in prsitine condition, only used 10 times prior to me buying me and we used it less than a handful of times.

How do ins. co.handle this?  Do they find me a replacement?  Give me $ toward a new one?  The other driver is 100% at fault.

Any words of wisdom?

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dressagelvr
Reg. Mar 2013
Posted 2013-03-22 10:49 PM (#150740 - in reply to #150739)
Subject: RE: trailer accident - questions


Member


Posts: 5

Location: WI

Oops, typo...Model # 9408

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RTSmith
Reg. Nov 2003
Posted 2013-03-23 8:45 AM (#150745 - in reply to #150739)
Subject: RE: trailer accident - questions


Elite Veteran


Posts: 811
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Location: Tenn/Ala.
For what it is worth, this comes from the HTW Blue Book. I added a spare tire as options, as that is generally about all a trailer like tat would have. You can find it @ www.horsetrailerbluebook.com

2002 Featherlite
Featherlite Bumper Pull Horse Trailers - Slant Load
Model 9408- 6'7x14', 2 Horse, 36"/87" Dressing/Tack Room, 2-3500# Axles (View)
BASE PRICE
MSRP $11,602.31
AVE RETAIL $7,195.50
WHOLESALE $5,396.63
OPTIONS
OPTIONS $85.50
VALUATION
MSRP $11,687.81
AVE RETAIL $7,281.00
WHOLESALE $5,460.75

OPTIONS LIST
X 15" Spare Wheel, Tire & Carrier $85.50

To answer your questions, we see this weekly in our service facility. First, you will need an estimate to repair the trailer. I looked at 1 pic, and am guessing that estimate will be high... Then, your insurance company will have a number they use, usually in the neighborhood of 75%, whereas if the repair is 75% or more than current value, then it is "totalled". They will have an adjuster inspect it and try and estimate value, but most have little experience with trailers. For an 11 year old unit, the Blue Book numbers look to be pretty much in line with the market.

Hope this helps.

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dressagelvr
Reg. Mar 2013
Posted 2013-03-23 9:13 AM (#150746 - in reply to #150739)
Subject: RE: trailer accident - questions


Member


Posts: 5

Location: WI
Thank you for the info. I appreciate it.    If they give me the retail value then I will be out money as I paid more than that just last year.  It was used only 10 times before I bought it.  It was in brand new condition.  There is no way I can replace it for the retail value, at least according to what I am finding that is out there for anything remotely similiar.   :(     
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RTSmith
Reg. Nov 2003
Posted 2013-03-23 10:25 AM (#150748 - in reply to #150739)
Subject: RE: trailer accident - questions


Elite Veteran


Posts: 811
500100100100
Location: Tenn/Ala.
Remember- everything is negotiable with an insurance cdompant. Also- in your case, since you just bought it, I assume that you had to give them purchase price to get insurance coverage. I'd be discussing that it should be worth what you paid for it just last year. So at least you can recover your investment. Finding another pristine one, that may be a little harder.

Edited by RTSmith 2013-03-23 10:26 AM
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Painted Horse
Reg. May 2005
Posted 2013-03-23 11:09 AM (#150750 - in reply to #150739)
Subject: RE: trailer accident - questions



Expert


Posts: 2453
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Location: Northern Utah

As stated above, insurance settlements are a process of negotiation. They want to give you as little as possible. It's your job to negotiate a higher value.  You will need to find comparables to show them what a trailer like that is worth.

So in addition to showing your purchase contract and what you paid.

You should look at any local sales where you can print off comparable trailers to show.  Look on websites like Horsetrailerworld as well as local websites your area. Here in Utah, KSL.COM has a great classified section and today shows 235 trailers listed. See what is around your area and use that resource.  Craigslist may also have trailer listing.

Ideally you would want a comparable trailer to be the same year and model as yours. But that is not always possible. So look for trailers with in a year or two newer or older of yours, and also look at similar type of trailers. Instead of Featherlite, look at Sooner or Exiss.  Once you get 5 or 6 of these comparables, you can show the insurance company what a comparable trailer is currently selling for.  It will be difficult to get a premium for saying you only used the trailer 10 or 12 times. But you should be able to get the fair market value of the trailer.

Look at your policy and see what you insured the trailer for.  If you specified a specific amount for the insurance, you could be limited to that specific amount.  That could be a plus or minus.  I had a truck that I insured for $25,000, they claimed it was only worth $15,000, I argued it was worth the $25,000 and reminded them they had accepted the premium based on the $25,000 value. So I got the $25,000 which was more than the current market value for the truck,  The trailer was just the opposite. I had only valued it at $60,000 and even though a replacement would cost more, The insurance topped out at the value I declared when I purchased the insurance.

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dressagelvr
Reg. Mar 2013
Posted 2013-03-23 11:21 AM (#150752 - in reply to #150739)
Subject: RE: trailer accident - questions


Member


Posts: 5

Location: WI

Thank you again everyone!  All good info.   My ins. company is aware, but because the other driver is 100% at fault, they want me to go through the other driver's ins.  (WI is a "fault" state so his ins. co is the one that is required to pay for everything).  I was in an accident a few years ago and again that driver was 100% at fault..his ins. company paid for everything, everything was billed directly to them including truck repairs, car rental, and medical bills - I never saw a bill.  I assumed it would be the same in this case, but maybe not.  The ins. co. still has not contacted me, even though I have a message into the adjuster...grr.

I didn't know I could look at other brands when determining a price, so I can now start to look outisde Featherlite.

Thank you again!

 

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hosspuller
Reg. Oct 2003
Posted 2013-03-23 2:38 PM (#150758 - in reply to #150739)
Subject: RE: trailer accident - questions


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Location: North Carolina
Remember to get your truck/ tow vehicle inspected.  The hitch got some of the crash energy too.
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Painted Horse
Reg. May 2005
Posted 2013-03-23 3:34 PM (#150763 - in reply to #150739)
Subject: RE: trailer accident - questions



Expert


Posts: 2453
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Location: Northern Utah

Regardless of whether it's your insurance company or the other parties policy, the process is still the same. do the best you can to present them with evidence of the trailers worth.

The companies will absolutely prefer to use the same make/model of trailer.  Unfortunately the trailer business is not exactly like the auto industry.  Ford  may have sold 400,000 pickup in 2002, Featherlite may have sold 5,000 BP trailers. There isn't always direct comparables to compare to.  So if you do the research to show similar trailers as comparables you are helping them to find an appropriate value for you.  Often times an adjustor that is very car savoy, may not be aware of what other trailers are close in value to the one you lost.

 

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loveduffy
Reg. Feb 2006
Posted 2013-03-23 10:16 PM (#150770 - in reply to #150739)
Subject: RE: trailer accident - questions



Expert


Posts: 1883
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Location: NY
if you have collection them your insurance company should help you deal with his insurance company and like every body said get estimates on how much it would cast to fix this happen to a friend the other company said they would not pay for a new on so he got is fix at the end it cost more but that is what the insurance company would pay for ??
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taborcole
Reg. Nov 2012
Posted 2013-03-24 8:01 PM (#150818 - in reply to #150739)
Subject: RE: trailer accident - questions


Member


Posts: 23

Location: Midland,Ohio
we were in an accident in Sept and our truck and trailer were totaled.  At first the insurance company did not want to give us much for trailer (3 horse with 15 ft living quarters 1 yr old) they quoted us 29000.00  We told them to call us back when they came to their sences.  we had the trailer dealer send them the price of this trailer and had them get an independent appraisal done  then they came back with a offer of 58000.00  we sent them ads of trailers for sale that were like ours  it is a hassle but to make sure you don't come out on the short end of the stick it is worth it
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trot-on
Reg. Dec 2009
Posted 2013-03-24 11:06 PM (#150824 - in reply to #150739)
Subject: RE: trailer accident - questions


Extreme Veteran


Posts: 373
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Location: Texas
I have Progressive, and I gave them a value to insure my trailer at, and when I totaled it, they gave me that amount. Got new trailer, and they asked how much I was insuring it for, and I gave them purchase price
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goz63
Reg. Dec 2011
Posted 2013-03-25 8:35 AM (#150826 - in reply to #150739)
Subject: RE: trailer accident - questions



Veteran


Posts: 218
100100
Location: Ohio
Taborcol,
It does not seem to matter which insurance company you use, they all want to get out of paying a claim. We have had to fight with our insurance company to get our truck fixed when it was hit in a parking lot, and we weren't even in it at the time. The first items were fixed, but when another major issue was found later, they wanted us to contact the insurance company of the person that hit us to get it worked out. I told them that was what I paid MY insurance company for, if they wanted to have someone else cover that cost, then they should call the other insurance company. He just said, uh, ok, like some stupid kid. They seem to just push you until you push back then they pay up. A little work on your part pays off. We paid almost $50k last year for our LQ 15ft short wall trailer. I would have come unglued on the guy if he had quoted me $29k for a settlement.
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PaulChristenson
Reg. Jan 2007
Posted 2013-03-25 9:37 AM (#150829 - in reply to #150739)
Subject: RE: trailer accident - questions


Expert


Posts: 3853
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Location: Vermont
If all else fails you get an attorney and go to court...:(
And if you really want them to settle with you...just comment about your neck pain that seems to have gotten much worse SINCE the accident and you are going to have to go to the hospital to have it checked out...:rolleyes
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Qtrhorseluver
Reg. Apr 2008
Posted 2013-03-25 11:45 AM (#150838 - in reply to #150739)
Subject: RE: trailer accident - questions


Member


Posts: 14

Location: Columbia SC
Sorry about your accident. And everyone has some great suggestions. I am actually a licensed insurance agent. And I know everyone hates the insurancce people. Since this accident was not your fault they have to put you back the way you were before the accident. If you have kept a copy of the bill of sale from when you purchased the trailer last year that will have a lot of leverage in your settlement. Also any invoices for any upgrades such as tires, brakes etc that you may have done. This would be depreciated but it will help on the value. Also keep in mind the longer they take to settle the longer you are inconvenienced. Any plans you made with the horses that you can no longer do needs to be brought to their attention. I have seen someone be sore in a wreck on a holiday weekend and the other parties insurance company compensated them for that. I'm in SC and we have the same laws as you do as far as at fault and it doesn't help the ins co. a bit if their driver was intoxicated. Always start out calm and if all else fails I am of the same opinion threaten with an attorney. Never let the ins. company forget you were not at fault and should not have to settle for less than what you had to begin with.
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gonzo1066
Reg. Oct 2010
Posted 2013-03-25 10:17 PM (#150852 - in reply to #150739)
Subject: RE: trailer accident - questions


Veteran


Posts: 264
1001002525
Location: Sumas Washington
Sorry about your trailer, kinda made me a bit sick to see your photos. I had a claim with Allstate and they dragged their feet for almost a year. I then retained a attorney and like magic they got serious on settling with me. If you have even a notion you are being taken advantage of act fast and hire a professional.
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trot-on
Reg. Dec 2009
Posted 2013-03-26 11:57 PM (#150883 - in reply to #150739)
Subject: RE: trailer accident - questions


Extreme Veteran


Posts: 373
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Location: Texas
Wow! I dropped my trailer off in a hole and sheered the wheels off the right side, bent the axles, and totaled the trailer. Progressive had me a check in about 2 weeks.
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taborcole
Reg. Nov 2012
Posted 2013-03-27 10:04 AM (#150894 - in reply to #150739)
Subject: RE: trailer accident - questions


Member


Posts: 23

Location: Midland,Ohio
it has been 6 1/2 months since our accident and still not finished settleing with insurance.  we both had the same insurance company and he only had state min.  did not come anywhere close to covering our rig!!!
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dressagelvr
Reg. Mar 2013
Posted 2013-03-27 4:17 PM (#150904 - in reply to #150739)
Subject: RE: trailer accident - questions


Member


Posts: 5

Location: WI
Thank you again for the great info, I appreciate it! Taborcole - I'm sorry to hear that your settlement is still not closed and isn't close to the value. It's just not fair!

Edited by dressagelvr 2013-03-27 4:18 PM
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PaulChristenson
Reg. Jan 2007
Posted 2013-03-29 6:21 PM (#150952 - in reply to #150894)
Subject: RE: trailer accident - questions


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Posts: 3853
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Location: Vermont
Originally written by taborcole on 2013-03-27 10:04 AM

it has been 6 1/2 months since our accident and still not finished settleing with insurance.  we both had the same insurance company and he only had state min.  did not come anywhere close to covering our rig!!!
Contact an attorney outside of your insurance company to get his/her perspective on what he/she could recover for you...
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taborcole
Reg. Nov 2012
Posted 2013-04-20 7:31 AM (#151433 - in reply to #150952)
Subject: RE: trailer accident - questions


Member


Posts: 23

Location: Midland,Ohio
insurance made us an offer they said this was all the other people policy had left in it wish I knew what to do!!!!!
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loveduffy
Reg. Feb 2006
Posted 2013-04-20 11:02 PM (#151445 - in reply to #150739)
Subject: RE: trailer accident - questions



Expert


Posts: 1883
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Location: NY
your insurance company should pay to fix your trailer them go after the other person's insurance company to get reimbursed that is what collection is for
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Summerset93
Reg. Aug 2010
Posted 2013-04-21 7:12 PM (#151462 - in reply to #150739)
Subject: RE: trailer accident - questions


Member


Posts: 37
25

taborcole - check with your auto insurance carrier.  If the accident happened in Ohio, your policy might provide UNDERinsured motorist coverage for property damage.  If so, your carrier will pay you the difference between the limit on the at fault party's insurance policy and the actual amount of your loss. 

If you do not have underinsured motorist coverage (or if it does not apply to property damage), then look into filing a claim on your policy under your collision coverage.  Your carrier should settle with you but will apply your deductible.  Your carrier will then subrogate against the at fault party.  If they are successful in collecting from them, your carrier will reimburse your deductible to you. 

Remember, you can't collect more than the total value of your loss.  So you should collect part of your damage from the at-fault party and the rest of the damages from your policy (either via underinsured motorist coverage or collision coverage).

Note uninsured and underinsured motorist coverages apply differently from state to state.  If the accident occurred in a state other than Ohio, then coverages may be different.  But you should always be able to file a collision claim, regardless of the state the accident occurred in.

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taborcole
Reg. Nov 2012
Posted 2013-04-29 9:40 AM (#151649 - in reply to #150739)
Subject: RE: trailer accident - questions


Member


Posts: 23

Location: Midland,Ohio
we both had the same insurance company  don't know if that was good or bad but we settled and was able to buy and truck and trailer again
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