83Porsche46060

Can you prove there were no after market parts on the car at the time of signing the policy? A lawyer will need to know that.....

Jadz928

Geeze, I didn't realize you had a car fire! I'm sorry for being so insensitive earlier.

I just thought you were using their parts service to get bits and pieces.

I never figured their service would be very good at finding Porsche parts. Probably better set up up for the Muscle Car and Corvette market.

Sorry for your troubles.

tv

https://rennlist.com/forums/928-foru...insurance.html

https://rennlist.com/forums/928-foru...o-you-use.html

https://rennlist.com/forums/928-foru...he-meteor.html

https://rennlist.com/forums/928-foru...insurance.html

https://rennlist.com/forums/798232-post25.html
https://rennlist.com/forums/928-foru...o-you-use.html



more specific
https://rennlist.com/forums/928-foru...insurance.html
https://rennlist.com/forums/928-foru...-are-good.html
https://rennlist.com/forums/928-foru...insurance.html
https://rennlist.com/forums/928-foru...nce-rates.html



Well there is some reading, this is an important subject. A useful project would be to get everyones premiums, coverage amounts, and carrier name listed to give a value rating for the product on paper. Then as a 2nd part, do a claims results listing for a Satisfaction factor (most important imo).

From reading the above threads It is clear that some companies are pains just to sign up with let alone settle a claim. A few companies stand out as one's to stay away from, a couple as ones to do business with and a handful where it is not clear yet.

This type of project is imo why an owners club would exist and to the point of getting all 15000 928's still on the road into an insurance pool to get a good product from one of the carriers and make them back it up.

polecat702

As promised, I'm keeping the 928 community in the loop on how Hagerty is handling my damage claim from being rear ended 3/19/12.

I have insisted that my car be taken to Ron Ruff, in Downey, Ca. for the frame and body repairs. I've also retained an independent appraiser for the diminished value aspect after the repairs are completed. My appraiser, raves about Ron's workmanship, and the diminished value of the car has nothing to do with his work.

That said, the car will only be worth between 3 to 4 thousand dollars after the work is completed. Neither of us can figure out why Hagerty would rather spend 12 to 14 thousand dollars to repair a car that will only be worth a fifth of what it was before the accident. Plus it's costing them a grand to flatbed it to California.

I'll keep everyone posted as this drama plays out.

blown 87

Then it seems to me that they will owe you the difference in what the car is worth after the repair and what it was worth before the accident.

SteveG

So they are going to make it worth less (worthless)??

JK. It sounds like you are on top of this. I hope this works out.

polecat702

Just got off the phone with the adjuster. Hagerty is getting a salvage value estimate, and I'll have it this Wednesday. They going to pay me the agreed value, less the salvage value if I choose to keep the wrecked car, or I can let it go.

Lots of good parts on that car, and I'm gonna be looking for another shark.

Bill Ball

I understand diminished value claim outcomes against a third party (the one who hit you and is at fault) are determined by state laws and have nothing to do with your own policy. They would be covered by the third party's liability coverage. Don't expect Hagerty to pursue it. In most states there aren't any relevant laws, so legal precedent comes in, and, again, there aren't any in many states. So, someone files a diminished value claim for you against the third party's coverage and the negotiation begins. If they deny it and refuse to settle, you file suit and see what happens, but you are often blazing a trail that gets real expensive and exceeds the potential benefit.
http://www.insure.com/car-insurance/...car-value.html

I'm totally "self-insured" for collision since these cars are not worth much and not worth insuring in my mind. It seems to have worked well. The one time I was in a bad accident that was not my fault and totalled a car, I thought I might end up buying a replacement car myself since I had no representation, but the other guy's insurance paid off with no hassle. And from what I have learned, having legal "representation" from an insurance company is not worth much. My insurance coverage is focused on having enough liability coverage to protect our assets, so that is the policy maximum supplemented by a big umbrella policy.

tv

maybe on one level - the stupidity of the public at large - and what they like but on another level these cars are not "transportation" and for some us they are priceless. The number of good LH euro's in this country can be counted with your fingers and they ain't making anymore. Mine in particular has the best options that could have been chosen which shrinks the number in half as far as equivalent cars in existence.

So in my case and in a number of other owners here, I would say they are irreplaceable and worth much more than any policy would give you. (as it exists today)

brutus

to the insurance industry these are just used cars owned by very particular people with odd notions about actual cash value.

polecat702

To me the the real value of the car is the people on this forum! They'er one & the same= priceless!

porschetoycar

Talking about a joke, LeLand West denied me insurance be cause I answered that I may stop at a store to shop with my 928S.

Jaeger

I'll buy the car for salvaged value!

In my opinion, dealing with insurance companies is alot like dealing with a Casino or Lottery game. The odds are definately not in your favor that you will make out overall in any case!

polecat702

Hagerty's adjuster said yesterday that they will pay me the agreed value. Also that I had 1st refusal on buying the car back at the salvage price. Another Rennlister sent me a message that my car is already listed for auction On "COPART",without the keys. WTF. Hagerty has been a complete nightmare since the accident. The other drivers insurance has been easier to work with.

If you have Hagerty, I'd start looking somewhere else. As soon as this is over I'm getting another insurance company. I'll bad mouth Hagerty every chance I get.

brutus

They listed the car to get bids to determine real salvage value with the notation that is was NOT at the auction yard. So no one can look at it ! No keys just means you cannot start and run a car before you bid.