mkhargrove

I think some of you ready my comments about wrecking my car when i wasn't even in it. For those that didn't, the short version is I was working on CV joint boots, dropped the jack, and blaming a miscommunication for moving a block in front of the wheel....it rolled down the hill into a tree. And, oddly, as we watched it the silence was surreal...until the crunch.


So the estimator came today and not only took inventory of damage, he went over the car head to toe. He took tons of pics. He says its going to be a total. I get the opportunity to buy it back from them at salvage value.

Has anyone else been through this type of situation? What I understand is that I get a check for the lower of their appraised value or maximum value that I had designated in my policy, less deductible ($1k....bummer). I can then buy it from them at their appraised value.

I think this is crazy because from what I can tell, it's a fender (and the braces, headlight (they still work but housing is damaged), bumper, light cluster housing and left blinker, left side marker, and I'm sure there's something behind the bumper that will need to be replaced. I don't know what pricing source they use, but obviously a parts car (JASON!) is the way to go to minimize expense and effort. They had no interest in even trying to check on salvage parts pricing....I'm assume they've had issues in the past when salvage parts were used as part of a repair.

But in any case, I'm curious as to why they're so quick to total the car and offer the option of buying it back. Maybe it relieves them from hidden damage liability?

Any experiences that anyone can share that might help me protect myself would be appreciated.

Speedtoys

A fender and a PU cover is a total?

mkhargrove

exactly. he kept trying to find damage. i'm worried that i'm about to get tooled over pretty good

soontobered84

Only if you let them.

Let's talk about it at breakfast, OK?

Speedtoys

Theres nothing..under that stuff.

You broke air...

The Forgotten On

I've done damage like that to my ragamuffin of a 81 and they didn't total it. Talk to them and see what they will give you so long as you can keep the car with a clean title.

I bought used parts from Mark at 928 International and had them painted for ~$1700 total. That car is a long way from totaled. It is completely superficial.

mkhargrove

my 951 had a big metal bumper under the bumper cover. i can't recall if it it was mounted by crushable mounts or not, but i assume the 928 had the same thing. i haven't peeled by the bumper cover yet..


and john....i will definitely be all ears....see you saturday morning!

mkhargrove

Hey Blake, my first guess was $2,200. That's why my head exploded when he said "totalled"
Like I said above, I'm curious why they would be so quick to take that path.

Kiln_Red

FWIW my '84 was mangled up a couple years ago when my next-door neighbor plowed through my detached garage. I got a settlement for somewhere in the neighborhood of $10k IIRC. State Farm was eager to total it and issue payment in the $7k area. I fought their valuation to the point that they requested an inquiry by an independent appraiser that valued the car at roughly $16k. I still have the wrecked car, the money, and the clean title. Don't panic!

In my case, the deal still sucked. All pertinent damages were quoted at $38k (car included) and the neighbor had a policy limit of $25k.. I did not sue the neighbor. I fixed the garage myself. The '84 that sits inside it is still wrecked.

thepurpleblob

Bearing in mind I'm in the UK... I've bought back salvage a few times on behalf of myself and friends. It's always been a very good deal - as in the salvage cost that we paid is probably around 15-20% of the total payout. I assume that the costs involved in disposing of write-offs mean that they're pretty much happy to get rid of it. YMMV of course

mkhargrove

Guys, this is perfect....exactly the type of thing I was looking for. I really appreciate it. Kiln Red, you really sort of took it down the path that I was wondering about. So I will be expecting valuations against me for not only my appraised value before the accident, but the salvage value as well. I really don't have the bandwidth to fight with them (which I realize is part of the business model), but hearing that you were able to improve your settlement demonstrates that it's possible to make it happen.

Kiln_Red

Glad to help!

So, the way it usually works is that any repair estimate that exceeds 70% of pre-accident ACH (Actual Cash Value) is considered in excess of what the insurance company can legally allocate for repairs. Otherwise they are required to make a reasonable offer to buy your car at fair market value. The 70% rule is different from area to area.

I should add that contesting State Farm was easy, in my experience. They said they found cars here and there and everywhere in comparable condition for $7k. I easily shot down each of their suggested replacements, as it was easy to contest mismatching options and unverified service histories. The independent company didn't even request photos from me. I had one 5 minute phone call with one of their guys and the rest was history. State Farm was happy to agree with their "appraisal".

If you accept a total loss, make sure that you get a compensation amount that will put you right back into the seat of another 928 of the same condition.

FredR

Insurance companies always want minimum input and minimum cost so they will do what they can to see whether you are dumb enough to accept what outrageous recompense they may be offering. Once they know that you know your rights and what the real values are they usually up their offer to get the monkey off their back. Remember the last thing they want is litigation when they know they are liable and it is the amount of recompense that is being discussed.

Listen to the chaps who have been through it in your neck of the woods. It gets even juicier if they are obliged to provide you with a temporary equivalent loaner until the issue is resolved [should such law be pertinent in your locale].- this is why they want to total it rather than repair so good incentive to negotiate hard ball Then they will probably jump through hoops to get it resolved

mkhargrove

I'm sure if you hit them with "it has a new green wire, brand new torque tube bearings, brand new oil pan gasket, brand new fuel dampers, etc., they would have the deer in the headlight look. just few wear parts can make a difference in value of several thousand dollars

mkhargrove

Fred, unfortuntely my agent was supposed to move the car from a collector car policy to a regular policy about a month ago. It sounds like I landed somewhere in the middle.....but no rental car coverage. I wasn't so happy about that when I found out. Luckily I have a back up