Hagerty wants to total my 964, now I can't afford another one. Help!
03-14-2018, 03:41 PM
#1
Rennlist Member
Thread Starter
Hagerty wants to total my 964, now I can afford another one.
I've been on this forum for years sharing pictures of some of the many adventure I've had with my 964. It's been 10 years of bliss, and have never wanted another car since driving this off the lot.
A couple months back I organized a group drive and it was a blast... until I was accidentally rear-ended by someone in the group. It was a mistake, and you learn to make the best of life and be thankful for what you have. After waiting patiently to get the car damage to be assessed, then later reassessed again, I got the call that nobody wants... there is over $31,000 in damage so it's a no-go for Hagarty. The true shock came when they valued the car at $28,346.40. Imagine trying to look for another Slate Grey C2 5-speed for that money...
I need some Rennlist Community help!
Depression is setting in. I;ve spent 10 years slowly improving the car little by little, and boy was it was a very fun, solid driver. I realize there is no way I win or come out ahead in this deal. It's going to cost me thousands to get back to where I was. I've already been without the car for 3 months, and it's hard to fathom looking for similar car, let alone something I can afford considering what Hagarty wants to pay. Help!
Crash pictures (it sickens me that the rest of the car is in excellent shape)
How it looked just weeks before:
A couple months back I organized a group drive and it was a blast... until I was accidentally rear-ended by someone in the group. It was a mistake, and you learn to make the best of life and be thankful for what you have. After waiting patiently to get the car damage to be assessed, then later reassessed again, I got the call that nobody wants... there is over $31,000 in damage so it's a no-go for Hagarty. The true shock came when they valued the car at $28,346.40. Imagine trying to look for another Slate Grey C2 5-speed for that money...
I need some Rennlist Community help!
- who has experience with this? What's my recourse?
- Hagarty's valuation looks like a generic form and absolutely no thought went into the report.
- what is the approximate value of a strong running '90 Slate Grey C2, five speed with LSD. (An excellent/very, very good 150,000 mile driver with many upgrades and everything working)
- I have the car insured for a much higher agreed value, but I'll still come up $1,000s short (I've had the AV adjusted twice already and was going to do it again this spring)
- PM me if you have a that you might be interested in selling but is not on the market (C2, 5 speed, any color)
Depression is setting in. I;ve spent 10 years slowly improving the car little by little, and boy was it was a very fun, solid driver. I realize there is no way I win or come out ahead in this deal. It's going to cost me thousands to get back to where I was. I've already been without the car for 3 months, and it's hard to fathom looking for similar car, let alone something I can afford considering what Hagarty wants to pay. Help!
Crash pictures (it sickens me that the rest of the car is in excellent shape)
How it looked just weeks before:
Last edited by 911Jetta; 03-19-2018 at 10:47 AM. Reason: New situation, settled the claim
03-14-2018, 03:53 PM
#2
That sucks! I'm sorry to hear that. I just did this price analysis: https://rennlist.com/forums/964-foru...-analysis.html
I am working on updating the analysis but can tell you the average sales price for reported transactions is about $51,000 in 2017 for all 964's (including tiptronic, c4, cabriolets, etc.).
I am working on updating the analysis but can tell you the average sales price for reported transactions is about $51,000 in 2017 for all 964's (including tiptronic, c4, cabriolets, etc.).
03-14-2018, 03:55 PM
#4
Really awful to hear this! I have greatly enjoyed your pictures and adventures. I have no experience here so perhaps my idea is way off. Can you let them total the car then buy it back from them at salvage value. Part it out to help make up the difference of the insurance money and cost to replace? You could also perhaps keep some parts you may need for your replacement 964.
03-14-2018, 03:59 PM
#5
Rennlist Member
Damn, I think I have Hagerty insurance as agreed value.
I better look into it.
Isn't the other party's insurance paying for that?
It doesn't look like $30K in damage, why so much?
I better look into it.
Isn't the other party's insurance paying for that?
It doesn't look like $30K in damage, why so much?
03-14-2018, 04:03 PM
#6
Addict
Rennlist Member
Rennlist Member
Are you insured under Hagerty or is the person that hit you insured? I would definitely talk to your own insurance company and ask them to find you another car in like condition for the price being offered. If they are successful then so be it but we all know what they won’t find anything other than a car needing a complete restoration.
03-14-2018, 04:08 PM
#7
Drifting
I got the call that nobody wants... there is over $31,000 in damage so it's a no-go for Hagarty. The true shock came when they valued the car at $28,346.40. Imagine trying to look for another Slate Grey C2 5-speed for that money...
I need some Rennlist Community help!
I need some Rennlist Community help!
- who has experience with this? What's my recourse?. I am sure you can gather documents to show that their $28K valuation is completely out of touch. With supporting docs that reflect actual values, they may be more inclined in fixing it rather than totaling it.
- Hagarty's valuation looks like a generic form and absolutely no thought went into the report. They have been behind the 8-ball with actual values, so it does not surprise me. You will have to do the leg work to show them they are mistaken in the value.
- what is the approximate value of a strong running '90 Slate Grey C2, five speed with LSD. (An excellent/very, very good 150,000 mile driver with many upgrades and everything working). $50K+
- I have the car insured for a much higher agreed value, but I'll still come up $1,000s short (I've had the AV adjusted twice already and was going to do it again this spring). Trying to stay with the market is a constant adjustment.
- PM me if you have a that you might be interested in selling but is not on the market (C2, 5 speed, any color). I know of a car, sending you a PM.
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03-14-2018, 04:11 PM
#8
Burning Brakes
If you have agreed value they should pay you that amount, look at your policy document. beware sometimes agreed value isn't agreed value its a comparison between agreed value you paid for in your policy and actual cash value (ACV) the carrier determines; in this case you sadly get the lower amount. You should at least contact the carrier and try to negotiate with them to get the most money so you can keep the car or buy it back after its totaled and do the repairs yourself (at a shop of your choosing) if its something your interested in, just keep in mind its always going to be a branded title going forward. You could lawyer up/enter into arbitration depending on your policy and fight it out but that takes time and money. there is a 964 C4 coupe on eBay right now in your color and same year (I believe) use that as a comp to show them. Also what about your carrier or you going after the person/their insurance who hit you for the difference in value or diminished value? if its a friend it may be difficult but that's what insurance is for.
03-14-2018, 04:12 PM
#9
Rennlist Member
Sorry to hear about the situation, my stomach turned a little just reading it. One thing that might make you whole is if they give you the opportunity to buy the wrecked car back then you could part it out. I'm sure it's a lot of work, but like you said the rest of the car is in great condition. Something to consider.
03-14-2018, 04:14 PM
#10
Rennlist Member
Thread Starter
A heartfelt thanks to everyone that's responded so far. Trying to keep perspective...
I haven't talked to my insurance yet, as I thought it would all be taken car of by Hagarty. I'll be on the phone with them later today.
Regarding by-back, the Porsche certified shop has already found $31,000 in damage and thinks there might be more once they dive in... a by-back looks to be too risky.
I haven't talked to my insurance yet, as I thought it would all be taken car of by Hagarty. I'll be on the phone with them later today.
Regarding by-back, the Porsche certified shop has already found $31,000 in damage and thinks there might be more once they dive in... a by-back looks to be too risky.
03-14-2018, 04:18 PM
#11
Rennlist Member
Bummer, sorry for your misfortune!
To me that sounds like a bull**** evaluation on Haggerty's part. NADA classic isn't too far behind on 964 values in my experience. Do they tell you what they use?
To me that sounds like a bull**** evaluation on Haggerty's part. NADA classic isn't too far behind on 964 values in my experience. Do they tell you what they use?
03-14-2018, 04:19 PM
#13
Addict
Rennlist Member
Rennlist Member
Hang in there and stay positive, this isn’t your fault and it looks like you need to prepare for a fight. Definitely contact. Your insurance company and explain your side.
There are many on Rennlist that can assist so hopefully as you provide more feedback others can chime in and advise how to proceed.
Good luck
There are many on Rennlist that can assist so hopefully as you provide more feedback others can chime in and advise how to proceed.
Good luck
03-14-2018, 05:13 PM
#15
So sorry to hear this, stay positive I'm sure everything will work out in the end.