King928

1987 Automatic Transmission, ~ 143 miles

Last week, I had a F250 bump into my 928 in a parking lot. I was behind him and he could'nt see, but he heard the horn and kept moving. Fortunately, the guy stepped out of the truck and was in a blazer, pressed shirt and most importantly had good insurance. Police report filed, State Farm is paying for the repairs.

Anyway, I have put about $11K in preventative maintenance in the 928 the past 14 months (one of the deadly sins). Outside of my factory cracked dash, the car is in great shape.

I would obviously disclose this if, when I sell the car.

Question: do you think this would impact the resale value? On the up side, I will be able to get the front bumper painted (a few spider cracks) The paint is almost perfect on the car now except a few imperfections on the bumpers.

If it does impact the resale, how can do I demonstrate this to the insurance company?

King928

sorry 143,000 miles.

Adamant1971

I don't understand your issue, are they writing the car off or repairing it? If they are repairing it they won't care about your future re-sale value.

hacker-pschorr

The key is do not mention it until you've settled on the repair costs, and before you sign off on the repairs, bring it up.

The last time I went through this they already had a figure down which was some percentage of estimated value, cut me a separate check.

Not true, that's what diminished value is.

King928

I brought it up already with the SF. Here is their boiler plate response.

We believe that most vehicles do not sustain any reduction in value after the completion of proper repairs, and that skilled repairers can properly restore most vehicles to their pre-accident condition. However, once repairs are completed, if you provide documentation to substantiate that your vehicle has sustained diminished value, we will evaluate and determine the specific amount of damages, if any, you would be entitled to collect under our policyholder’s liability coverage.

In order for us to consider your claim, please provide us with supporting documentation explaining the amount and the reasons for the diminished value of your vehicle.

Adamant1971

True in Canada, sorry sometimes I forget that the insurance systems are different dpending on the country state or province. There have been a few successful cases here but it invloves a serious legal fight.

Insurance really sucks up here.

Adk46

I think it's helpful to think of this situation without the insurance company. "Peter" acted with negligence, you suffered damages, you can take Peter to court to make him pay for them.

Peter might have made a deal with an insurance company, but you're not a party to it. You can't go around his attorney, which will typically be the insurance company's attorney under that deal, but otherwise you don't have to care. Peter owes you money.

If Peter has lousy insurance, good only for $1000 when your damages are $10,000, Peter owes you money.

If you don't like what the insurance company offers, Peter owes you money.

His insurance company will want you to believe that Peter is out of the picture. Nope, Peter owes you money. Peter will be angry with his company if they don't make this problem go away. Counting you, that will make two. The company's attorneys will be angry with the adjustor, too, if they are already booked up.

I'm sure there are state regulations etc. that complicate the situation, but they don't change the view to which you are entitled: Peter owes me money.

ReDesign by FEATHER

Look at your Jury Instruction about damages for loss to property. Our's says something to the effect that you are entitle to the cost of repair PLUS the reduction in value after the repairs are made. That is diminished value. The insurance companies hate it. Have a car appraiser evaluate it for you.

Billu

King928

The impact was right at the drivers side door and driver front quarter. The door will still open but it makes quite the noise. Will post a pic here shortly.

King928

Bigfoot928

they will try to total it or they will stipulate used parts. Adjusters get paid to argue. Politely explain to him that he can either work with you to resolve the issue or he can explain to his district manager why the claim is still open months later and the insured and the insurance company are dealing with an attorney when it could have easily been resolved for X.

Billu

King928

The door molding all bent kind of makes it look like flake.

GT6ixer

Do you know if it was original paint? If it was and the car needs a partial or full respray that could effect the sales price. I don't think 143K is a ton of miles for a 928 but generally those that care about buying a 928 with original paint also are looking for lower mile examples. It may be argued that if you get a full respray out of the claim (which I am inclined to say you are based on those pics and Billu's comment above) that it could/may offset any diminished value from the damage that would scare off potential buyers, i.e. some buyer will be getting a car with a new paint job as opposed to a car with no prior damage history but old paint. What condition was the paint to begin with? If it was already very nice, then my point doesn't apply.

I think another big issue is to ensure that this is ONLY panel damage and that no front end and/or chassis damage was sustained. If it were me looking to buy a 928 I would be less concerned about minor body damage from a former accident because I can visually inspect and assess whether a proper job was done. If on the other hand the chassis or front end was repaired and done poorly, it would be harder to tell. Especially if buying from an auction, where typically you can't get a proper PPI done.