Is this even remotely right?

[Mom of Rick]

What is the name of your state? South Carolina

My son was hit head on by a driver of an 18 wheeler a week ago. The owner of the truck has Canal insurance. The driver was charged with DUI and arrested at the scene.
My son was the 3rd car hit, but recieved the most damage. He drove a 1974 Chevelle that was totaled. The state trooper and the investigator say the sturdiness of this vehicle is what saved his life.
Yesterday, the adjuster called him to say "the car has been totaled-- you can not get a rental-Due to the age of the vehicle the offer is $900 for your settlement."
I assume this is for the vehicle ONLY? Right?
He was not injured badly(thank God) However, he does have an emergency room bill, x-rays, prescriptions, and 4 days of lost wages. I assume the owner's insurance will pay all of this without any trouble Right? It was filed on my son's BCBS the day of the accident.
I guess my question is--- Without significant injury, is my son screwed? He will never replace his "family heirloom car"(sentimental value but it ran great) with ANYTHING drivable for $900. So is that it? Does he accept this settlement with his med bills and his lost wages paid?

[weenor]

The insurer is not obligated to offer or pay replacement value on any vehicle only its fair market value at the time of the accident. So yeah that sounds right.

Property damage can be settled separately from personal injury and often is. Just make sure that any settlement documents he signs do not included a waiver for claims of personal injury. Wait several months before settling the personal injury claims to make sure there are no residual physical maladies.

Your son is owed the actual cash value or fair market value of the vehicle prior to the accident and loss of its use; i.e. whatever it would have sold for prior to the accident, and an amount to compensate for being without the vehicle from the date of the accident until the date of the settlement check. You need to ask the insurance adjuster for the other party what documentation he relies on for his settlement offer, and if he does not provide it speak with his supervisor.

Your son is entitled to his reasonable medical bills, reasonable gross loss of earnings, and a reasonable amount for pain and suffering.

You can settle the property damage and loss of use claim separately from the bodily injury liability claim; make sure any release only refers to property damage and loss of use and not bodily injury.

[racer72]

Originally Posted by Mom of Rick

Because he will never replace his "family heirloom car"

As the owner of "family heirloom cars" as you put it, why would something so valuable to the family not be insured for it's perceived full replacement value? Or is this "family heirloom" not really worth as much as you think and the insurance on the vehicle was your state's minimum coverage? I am active in the collector car hobby and own a couple myself (66 GTO, 69 Torino Cobra), both vehicles are fully insured for their full replacement value. Except for a few exceptions, most models of the 1974 Chevelle have not reached any sort of status as a collectible vehicle. A $900 offer makes me feel the car was a basic transportation car that was approaching "beater" status.

[Mom of Rick]

I thank you ALL for your replies. This has been an eye opener for all of us.

TO reply #3-- "family heirloom" was just what we referred to his car as. It belonged first to my husband--- passed down to my son. He's driven it since he was 16 and is the only car he's ever had. Now, he is 23. My husband and son had started replacing the interior on the car as they found pieces for it. They rebuilt the motor and transmission. about a year ago and it was re-painted about 3 years ago. It was more sentimental value than anything else. Right now---with Mom and Dad paying the bills and the price to insure 4 kids under the age of 25 we have kept 2nd level liabilty only on their cars. Collector's insurance in SC is often cheaper than full coverage. He would have gotten this when the car was fully done, I'm sure I hope that explains more to you. Good luck on your collections--

[ecmst12]

If he has the receipts for the parts he put into the car recently, he may be able to get some additional reimbursement for that.