<blockquote><font size="1" face="Verdana, Arial">quote:</font><hr>Originally posted by Graham:
It must be a LOT worse than it looks. No insurance company is going to pay out that amount of cash if they can avoid it by repairing it, even if it cost twice the auction bid.<hr></blockquote>
Some insurance policies on exotic and collectible cars have a policy that requires payment for "lost value" even if the car can be repaired to a condition where the damage was impossible to detect. Having been in an accident will affect the value regardless of the repair. The average Taurus doesn't have this in the policy and requires you to accept the cost of repairs, not "diminished value."
I worked on this issue a couple of years ago regarding a wrecked Diablo SV. Also, exotic car insurers, especially with their good customers are willing to pay out way too much to keep their reputation, not only with the individual owner, but in the exotic auto world at large. Screw a collector over, especially a very wealthy one, and pretty soon, your business takes a nosedive.