OK. The Difficult News is now Known … you want a fair replacement. As far as I am aware, most policies have you covered for your purchase value
and not replacement of exact same vehicle.
I had a 2012 total loss and Insurance had to match my vehicle which was about $6000 more than what we paid. We were covered.
Since then, I have been closely asking about replacement value and I find a change to the maximum of purchase price. Should that be the case,
then you should be able to settle for your purchase price, be at no loss with only your out-of-pocket of operating costs of enjoying your Corvette.
Now should you obtain that cash settlement, you are no longer obligated to get exactly what you had even if that is what you want. If a Dealership
is involved in the settlement, they must provide you with what you had for the settlement but they will not be obligated to exact colour spec.
I'd settle for the money versus any shenanigans with a Dealership that is not of your choosing. It was prevalent in my 2012 settlement at which time
I found 5 matching vehicles in Alberta and ended up putting a conditional deposit on all of them.
The insurance company choice of Dealership (which did not have a match) was then gone and I told them to choose the vehicle of the five I found. I had to drive to that Dealership
for delivery as a result - no big deal … and found myself dealing many new vehicles from that Dealership ever since (including two Corvettes).
So today … I would settle for my purchase price and deal my New Corvette - but that is me.
Sorry to hear of the hassle of a complete loss, it will likely not be a simple process unless your can have full control of choice for the New One.
If with a cash settlement, I would also suggest you to consider dealing that new Corvette when Dealerships are not selling them (and store it) …
you may be surprised at your Good Fortune off-season. (My good fortune came in part when very few were buying New Corvettes in areas of Alberta)
and not replacement of exact same vehicle.
I had a 2012 total loss and Insurance had to match my vehicle which was about $6000 more than what we paid. We were covered.
Since then, I have been closely asking about replacement value and I find a change to the maximum of purchase price. Should that be the case,
then you should be able to settle for your purchase price, be at no loss with only your out-of-pocket of operating costs of enjoying your Corvette.
Now should you obtain that cash settlement, you are no longer obligated to get exactly what you had even if that is what you want. If a Dealership
is involved in the settlement, they must provide you with what you had for the settlement but they will not be obligated to exact colour spec.
I'd settle for the money versus any shenanigans with a Dealership that is not of your choosing. It was prevalent in my 2012 settlement at which time
I found 5 matching vehicles in Alberta and ended up putting a conditional deposit on all of them.
The insurance company choice of Dealership (which did not have a match) was then gone and I told them to choose the vehicle of the five I found. I had to drive to that Dealership
for delivery as a result - no big deal … and found myself dealing many new vehicles from that Dealership ever since (including two Corvettes).
So today … I would settle for my purchase price and deal my New Corvette - but that is me.
Sorry to hear of the hassle of a complete loss, it will likely not be a simple process unless your can have full control of choice for the New One.
If with a cash settlement, I would also suggest you to consider dealing that new Corvette when Dealerships are not selling them (and store it) …
you may be surprised at your Good Fortune off-season. (My good fortune came in part when very few were buying New Corvettes in areas of Alberta)
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