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One of my friends back west just texted me that he was in an accident a few days ago involving his 2016 Porsche Carrera Turbo S! Sent me pics and while he is okay minus some minor airbag injuries, his Carrera is likely not. Initial insurance estimates were $20-40k but in my opinion from the pics likely to escalate once the adjusters get to it and start taking it apart. Also diminished value yes or should he even bother to pursue it if the write off it likely. Accident was not his fault as he was clearing the intersection around another slower car in the right lane when the other car turned left right in front of him without signaling. That driver was ticketed he says and cited at fault for failure to yield in the police report. Don't know how or if that affects his insurance rates...he says since he was not found at fault it shouldn't matter but I think anytime they have to put out that kind of coin on such a vehicle...a note is made somewhere!
Anyway interested in the thoughts and wisdom/experiences from fellow RL's....and will pass on.
At the right shop, there is WAY, WAY more than $20k damage there. Could be 3X that amount...or more. I had substantially less damage to a 981 CS and the shop got GEICO to pay nearly $30k (which I thought was a ripoff to the insurance co., but they paid it). The damage pictured there is significant and can be costly. OTOH, it's a nearly new TTS, so it's worth fixing.
Diminished value probably takes ten - 20% off FMV. Getting someone else to pay it is another matter all together. It's possible, just not easy.
Glad to share my not-great experiences if you want to send me a PM.
Once they see the price of that PCCB rotor they'll total it right out
I just crashed my CTT and the front end was pretty much toast, estimate came in at $35-40k but I thought that was low. I'm not an adjuster but I'd guess that car has $40-60k damage....whether it's totaled or not depends on what their threshold for totaling is. If they think the scrap value plus cost of repairs is more than the value of the car they will probably total it. Some states also mandate specific percentages.
Looks far worse than mine was (I had no airbags deploy)....and mine went from $7k to $30k to $46k and then my insurance company finally threw in the towel before they started any work on it...and my PCCB rotor was still intact.
Ouch. My 981 took a similar hit with airbags deployed. They wrote around 35k in damage on it before tearing it apart and adding in hidden stuff. They felt once they did that they would find perhaps another 7500 to 10k in damage. They totaled it. It was close though.
Sad part is that the car took the hit like a champ and was extremely repairable.
I would say they are going to try to fix this car. Then I would pursue diminished value.
My guess is that it is totaled. Headlights, PCCBs, wheel, suspension, body work, probably damaged or distorted structures underneath that mess, air bags, (also see the fluid leaking out? - new radiator)......the list will go on and on. It's history.
Hard to tell from these pics, but certainly looks to be more than 40 k worth of repairs
I don't think your friend have a choice to total it or not, this will be determined by the insurance company's adjuster , and if they decided to repair it, then he can go for diminished value claim which as stated above is difficult but not impossible
I would try to get that totalled if it were me. Most likely he can take the car to any shop he wants. I'd take it to the best, most thorough, and likely expensive shop in town. That's what I did with my E92 M3. I had to take it to one of the insurance company's preferred shops for the initial estimate, and they said the damage was $3k. I took it to my shop that I trusted to do a good job, and they said it was a minimum of $10k worth of damages, possibly more. The insurance company ended up just totalling the car after that.
I would try to get that totalled if it were me. Most likely he can take the car to any shop he wants. I'd take it to the best, most thorough, and likely expensive shop in town. That's what I did with my E92 M3. I had to take it to one of the insurance company's preferred shops for the initial estimate, and they said the damage was $3k. I took it to my shop that I trusted to do a good job, and they said it was a minimum of $10k worth of damages, possibly more. The insurance company ended up just totalling the car after that.
^ this. It's what I did - I took it to a Porsche certified collision center.
My TTS accident initially looked like 12K in damage and ended up 52K. Diminished value is always considered after all repairs are complete, so if they proceed with repairs your friend will know to be preparing for the diminished value fight. Extremely insurance company dependent on how easy this goes for them. The person who hit me was insured by State Farm and it went well for me. Hopefully your friend lives in a state that allows you to claim diminished value.
07-11-2018, 02:57 AM
Diminished value or total write off?
