Bayou7

My 83 '7 was flooded in Katrina storm. Anyone have experience with insurance companies with respect to older restored autos with full insurance. I bought this car new in January 1983 and have kept it in excellent condition all along.

Some of the updates during past 5 years include new paint job( stripped to metal ) for about $2,200., new drive/propeller shaft, new radiator, new radio, RB exhaust system, used engine assembly in 98. new steeing box, new clutch master and slave cylanders, new struts and shocks. Wheels ( original style) are near perfect condition.

Car had to be left in garage, which flooded to steering wheel level. I have receipts for all the work and parts.

Anyone with experience in such matters. What do the insurance companies pay?
If possible, what would it cost to restore car? What would it cost top replace with equivalent.

Thanks for any help or advice.

Bayou7

grease

My experience with insurance companies in this type of situation (lost a 1968 911 Porsche in Claudette in 1981) has been that you will be paid book value for the car and if you so desire, you can purchase the car back from the insurance company for cheap. After buying the car back, the insurance company will not reinsure it for anything but liability, no comprehensive coverage.

Bayou7

Grease, thanks for response. Would Book be 'Loan' or 'Retail' value?

Also wondering whether it would be worthwhile to replace newer wheels with old ones, if I'm not going to get much credit for the new ones. I could then sell the new ones on the forum or Ebay.

Bayou7

grease

"Book " value is usually considered to be the max retail value listed in the NADA book for the car, depending on it's condition before the incident (poor; fair; good; excelent) If you decide to let the insurance company keep the car, I'd strip it of any parts you can remove and resell, expecially aftermarket parts. The insurance company dosen't really want a 1980's car anyway, no value to them, so it will probably end up in a scrap yard. Depending on how badly it was flooded, you might be able to salvage it. An 83 has no electronics to speak of as far as the engine goes, but you'll have to gut the interior to get out the smell. Where are you in LA (I live in Metairie myself, fortunately my 82 GSL survived), and how badly was it flooded and with what type of water? Orleans had the sewer stuff but I don't think Jefferson had anything but rain water accumulation when the pumps went down.

grease

Bayou 7, after rereading your post, if the water only came to the bottom of the steering wheel, or even if it came to the top of the wheel, you can salvage that car. It might need all new dash wiring and a new interior, flush and replace the fluids (brake, radiator, clutch and most important engine oil , transmission and differential fluids) but it definitely can be salvaged with a bit of work. Consider it an excuse to restore your 7 to the car you wanted it to be anyway, but never did because it wasn't "broke" so why spend the money. Take what the insurance company gives you, buy back the car and restore it, then change insurance companies, you may be able to insure it with more than liabality that way, expecially if you get new insurance from one of the "classic car" insurance companies. Just a thought...good luck..

Grease

Hades12

You just need to prove what a Great condition one owner car is worth.

Talk to Mantis. He lost a unique car.

Bayou7

Thanks for responses. I live in Slidell, so water was from bayou off of Lake Ponchartrain. Even so, seemed to pretty 'clean' flood water compared to stories of sludge in other parts of the city. For example, virtually no mud in car. Bad mildew, though.

It's been over a month, now. If I'm going to keep it, do I need to drain fluids soon and begin restore process. It's hard to part with this one. While I deal with house repairs/ expenses, it would be good to at least get the car to a stage where it can sit and wait for repairs without doing any more harm.

Bayou7

Hades12

Yea. I would drain all the fluids and replace. Open the car up and at least pull all the rubber floor plugs so the water can drain out of the carpet.

Rogue_Wulff

Also pull the seats and carpet out. carpet is likely ruined, but the seats may be salvageable.
Getting the carpet out will allow the floorboard to dry out, and will prevent further rusting from the wet carpet and padding sitting on them.

grease

After you pull out everything cloth / leather / vinyl / rubber from the interior, dry the floorboards with shop towels / paper towels, and if the paint on the floorboards is intact (surface rust dosen't count) and you don't plan on repainting the interior, spray the metal surfaces with a good coating of WD40. If the interior has an odor after stripping it, clean the metal surfaces with a solution of vinegar and water (50-50 mix), allow it to air dry, then do the WD40 spray. The vinegar and water will neutralize the odor, and the WD40 will displace the moisture absorbed by the metal and prevent rust. Leave the doors, windows and hatch open for as long as possible to air out. As for the engine, tranny, differential, clutch and brakes... drain and flush all fluids, preferrably more than once. Pull the plugs, squirt oil or MMO into the plug holes and turn the engine over by hand, make sure each rotor face gets a good dose of oil or MMO. I'd flush the engine several times before attempting to start it, and even then you can probably expect a shortened engine life. That lake water has a lot of sand mixed in it, so pay careful attention to what comes out of your engine the first time you drain it. If the water is muddy or sandy you might want to consider a rebuild as part of restoration. If you're lucky enough to not have water come out of the crankcase, flush with fresh oil and you should be good to go.

Grease