Not A Good Day...Another 951 Killed...Need Advice
11-09-2006, 11:32 AM
#16
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First off, I'm glad you wern't more seriously injured beyond neck and back pain. Good luck with your insurance case and hopefully your pain is only temporary and not reoccuring.
I really hope that it can be saved, its my opinion that maraschino/garnet red the sharpest color ever sprayed on a 944/51.
I really hope that it can be saved, its my opinion that maraschino/garnet red the sharpest color ever sprayed on a 944/51.
11-09-2006, 11:33 AM
#17
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yeah, the distances will make it hard. make sure to take all the recipts back with you so you can scan them and send them to the adjusters. Also does this mean you will have to leave the car outside for them to look at it? can you get the keys to someone so they can drive it to places to be inspected/repaired?
11-09-2006, 11:40 AM
#18
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Not sure how Oregon works, but most places if someone rear ends you, it is their liability that will pay. In that case it would be State Farm that you would be working with. Is Oregon a no fault state?
11-09-2006, 11:45 AM
#19
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Originally Posted by Tom R.
Yes and no. they will say it is maintenance and all cars are maintained. he will get a copy of the article in the july 04 sports car market where jim shrager the noted porsche expert says the value of a porsche is in the recent work.
then he will have to show them that in order to get an equal car he will have to spend more $$ than they are offering. the term fair market value will come up. but insurance companies use another term to describe what people will pay for something comparable.
in the end he will ask me for a copy of the letter i sent to geico along with a copy of the spreadsheet i used to get more $$ from geico when my S2 was stolen three years ago. he will find comparable sales, hopefull he will get some fellow rennlisters to describe what they bought recently along with the work done. he will than put that data into the spreadsheet and show geico that the number they are offering him is low, and get them to raise the ante.
when all is over he will have a check in his hand and a new adventure in cardom.
then he will have to show them that in order to get an equal car he will have to spend more $$ than they are offering. the term fair market value will come up. but insurance companies use another term to describe what people will pay for something comparable.
in the end he will ask me for a copy of the letter i sent to geico along with a copy of the spreadsheet i used to get more $$ from geico when my S2 was stolen three years ago. he will find comparable sales, hopefull he will get some fellow rennlisters to describe what they bought recently along with the work done. he will than put that data into the spreadsheet and show geico that the number they are offering him is low, and get them to raise the ante.
when all is over he will have a check in his hand and a new adventure in cardom.
I appreciate you sharing your specific experience with us. I recollect seeing your account of dealing with the insurance company when your S2 was stolen a few years ago (at the train station?)
I will be grateful if you would be kind enough to email the materials that you mentioned above to me. It will be a great template for me to use.
Can you email it to " acgoh1 <at> msn.com " please?
Thanks!
11-09-2006, 11:53 AM
#20
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Here are excerpts from my insurance policy:
"Insured means:
Clause #8: Betterment is improvement of the auto or property to a value greater than its pre-loss condition."
"Limits of liability:
Clause # 6: Deductions for betterment and depreciation are permitted only for parts normally subject to repair and replacement during the useful life of the insured motor vehicle. Deductions for betterment and depreciation shall be limited to the lesser of an amount equal to the proportion that the expired life of the part to be repaired or replaced bears to the normal useful life of that part, or the amount which the resale value of the vehicle is increased by the repair or replacement."
Hopefully, this will work in my favor to recover the cost of an equivalent 1986 951 which takes into account the $5,000+ in recent maintenance and repair work.
"Insured means:
Clause #8: Betterment is improvement of the auto or property to a value greater than its pre-loss condition."
"Limits of liability:
Clause # 6: Deductions for betterment and depreciation are permitted only for parts normally subject to repair and replacement during the useful life of the insured motor vehicle. Deductions for betterment and depreciation shall be limited to the lesser of an amount equal to the proportion that the expired life of the part to be repaired or replaced bears to the normal useful life of that part, or the amount which the resale value of the vehicle is increased by the repair or replacement."
Hopefully, this will work in my favor to recover the cost of an equivalent 1986 951 which takes into account the $5,000+ in recent maintenance and repair work.
11-09-2006, 12:00 PM
#21
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Originally Posted by ApexCars
Not sure how Oregon works, but most places if someone rear ends you, it is their liability that will pay. In that case it would be State Farm that you would be working with. Is Oregon a no fault state?
1) They will work with me (i.e., come tp an agreement on the loss value and hand me a check so that I can go on my way). I will have to first pay the $500 deductible until they can claim from the other party's insurance company. They will then work on my behalf to pursue the other party's insurance for the recovery of the costs, including reimbursement of the $500 deductible.
2) I work directly with the other party's insurance company, and Geico is pretty much out of the loop on the matter.
It was a no-brainer for me to choose #1 with me having to go back to Singapore in a week's time.
Fortunately, I have a buddy who had been storing my 951 in his home while I am gone. The car will most likely go back to his place until we come to a final resolution with insurance.
11-09-2006, 12:50 PM
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See a physician, and start to note right now the things you have difficulty doing, or doing less well than before. Do not down play anything. I hope all ends well.
11-09-2006, 01:17 PM
#23
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the $5k is gone in the wind. you'll be looking at book value from nada/kbb reflecting mileage and general condition.
insurance will probably total it. you'd be better off getting a cash settlement from the driver, keeping it away from the insurance weenies, yours/theirs and fix the car.
the damage didn't really look too bad on either car, a few wrinkles here and there.
87951
insurance will probably total it. you'd be better off getting a cash settlement from the driver, keeping it away from the insurance weenies, yours/theirs and fix the car.
the damage didn't really look too bad on either car, a few wrinkles here and there.
87951
11-09-2006, 02:08 PM
#24
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Dont talk to anyone from either insurance company until you talk to an ambulance chaser, get an MRI and an x ray state farm will have to payfor your medical. Your cost of recent repairs can be recovered they have established additional value to the car as well. I also have geico. They will be much more concerned with your medical condition than the Porsche. The other insurance company will have to pay you and given the exposure that you have received from a future or existing injury, you may end up with more than enough money to buy several of them 951'for back up from other idiot drivers. Sorry to see your loss.
11-09-2006, 02:28 PM
#25
Race Car
Your insurance company will not look after your interest more so than a good attorney. GET YOUR NECK LOOKED AFTER. Its no joke and if you want proof, I can email you a copy of my MRI on CD. Forget about the car for a while and have it checked out. Sometimes its better to put off your travel plans to not have a lifetime of pain.
11-09-2006, 03:42 PM
#26
Herr Unmöglich
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Very sorry to hear that... the weather has been horrible here, and traffic has sucked for the last week.
Check out this thread showing the total annihlation of hwy 35 headed up to mt hood... this washout pretty much ended my ski season before it began:
Hwy 35 washout
Anyway, if you think of selling that car before leaving, please let me know... I'm local and will take it off of your hands. I sent you a PM with my numbers.
Check out this thread showing the total annihlation of hwy 35 headed up to mt hood... this washout pretty much ended my ski season before it began:
Hwy 35 washout
Anyway, if you think of selling that car before leaving, please let me know... I'm local and will take it off of your hands. I sent you a PM with my numbers.
11-09-2006, 05:12 PM
#28
Burning Brakes
geico is gonna cover your claim and drop you like a sack of potatoes, state farm is a better insurance company, they will stick with you. Let me know what you decide to do with your car. Take care of that neck.
11-09-2006, 06:55 PM
#29
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Don't listen to Naples. Try to work things out with the insurance co. first. If you can't work things out then call an attorney. Usually when you get an attorney, the total settlement will be more but you will get ALOT less. Attorney will send you to (usually multiple) doctors and tell you not to go back to work because it will make your claim look better if you can't work. They will drag things out with the insurance while they build their case and threaten court. They will eventually settle out of court and take their share, you then have to pay all the medical bills and you have lost all that time at work also. I know someone who was offered $20K for their injuries by the ins. co. but they lawyered up and ended up getting $50K. By the time they paid the attorney, and all of the doctors they got $6K and were off work nearly 3 mos.
