Diminished Value Claim
09-07-2018, 08:49 PM
#31
Three Wheelin'
I don't know. I just had a minor uninsured motorist claim on our daily driven honda and USAA sent me a diminished value claim form to fill out (Georgia). Didn't get anything, as it was just a simple front bumper respray.
09-08-2018, 12:39 AM
#32
Rennlist Member
Sorry to hear man...I agree and would push for the shop in Anchorage with your insurance company. No other way to fix the car to standards it seems and spec. Otherwise you guys are just throwing money away on both ends.
09-08-2018, 01:29 AM
#33
Rennlist Member
It was delivered to the repair shop yesterday evening and i did a walk around with them while it was on the floor. It is supposed to go up on the rack Monday and I am going over with them again to look at the underside. That said, it looks bad. It appears the brake rotor is damaged on the side of the hit. Also, the rear tire on the far side is cambered out and at a very weird angle than you would expect for being shoved over when I got hit. I am guessing there is axle damage or frame damage just looking at it from behind.
While I was there, I asked them how many Porsche's they had worked on. Of course, not many. They had one they were doing a paint job on in the shop, but it has been more than a year since they did any type of body work on one. And of course they don't have any of the equipment to check the rotors. After my discussion with them, I am going to demand the insurance company sends it to the shop in Anchorage. These guys don't have what it takes to fix it here. My only hope is they start adding up the part costs and it just gets totaled before I have to have that argument.
-TJ
While I was there, I asked them how many Porsche's they had worked on. Of course, not many. They had one they were doing a paint job on in the shop, but it has been more than a year since they did any type of body work on one. And of course they don't have any of the equipment to check the rotors. After my discussion with them, I am going to demand the insurance company sends it to the shop in Anchorage. These guys don't have what it takes to fix it here. My only hope is they start adding up the part costs and it just gets totaled before I have to have that argument.
-TJ
https://www.porschealaska.org/contact
09-08-2018, 11:30 AM
#35
Burning Brakes
Thread Starter
TJ, here is the current list of PCA AK Region officers. Mike and Jim date back to when I was Region President back around 2001. They and others might be good resources for recommendations if your car gets to Anchorage.
https://www.porschealaska.org/contact
https://www.porschealaska.org/contact
Car went on the rack yesterday and I got to take a look underneath, however they hadn't removed any of the shields from the bottom, so can't look to far in. Did see some stuff shoved over on the suspension and three of the four rims are damaged and will have to be replaced. Also, the tow truck driver at some point scraped and damaged the front end where the bladder is and that will have to be replaced. They were going to have to take off some stuff to look at the frame, engine mounts, and transmission mounts to see what all happened in there. They were at $20k damage and that didn't include rotors or the rims, or anything inside once they get everything uncovered.
-TJ
09-10-2018, 07:12 AM
#36
Advanced
Diminished Value
Hi. Sorry to see such a nice car wasted like that but that's the only way to describe it. The car has structural damage so it will lose approximately 40% of its pre-accident trade-in value. Obtain a comprehensive diminished value report. Make sure that the independent appraiser uses dealer quotes from the sales managers at Porsche dealers. Most of the appraisals you get are based on formulas which won't get you anywhere. Also, a DV appraisal shouldn't cost more than $300. I've heard of some outrageous fees, many because the appraiser wants to inspect the repaired car which is completely unnecessary. Good luck.
09-13-2018, 09:44 PM
#37
Burning Brakes
Thread Starter
Initial repair estimate is $44K. This does not include the rotors, as they would have to take them off and send them out to get them inspected, or an examination of the engine and transmission areas, as this would require a complete tear down. Both they won't do unless I sign on OK'ing the repairs. They said it could get as high as $70-$80k, depending on what the find on a complete tear down and if the rotor's need to be replaced after inspection.
At this point I am going with the shop in Anchorage after recommendations from PCA members in Anchorage and the dealership, and am now negotiating on getting it shipped down there on a flat bed. $2,000 to $2,500 is what the quotes are coming in for that.
Will keep you all posted on how it turns out.
-TJ
At this point I am going with the shop in Anchorage after recommendations from PCA members in Anchorage and the dealership, and am now negotiating on getting it shipped down there on a flat bed. $2,000 to $2,500 is what the quotes are coming in for that.
Will keep you all posted on how it turns out.
-TJ
09-14-2018, 12:11 AM
#38
Rennlist Member
Initial repair estimate is $44K. This does not include the rotors, as they would have to take them off and send them out to get them inspected, or an examination of the engine and transmission areas, as this would require a complete tear down. Both they won't do unless I sign on OK'ing the repairs. They said it could get as high as $70-$80k, depending on what the find on a complete tear down and if the rotor's need to be replaced after inspection.
At this point I am going with the shop in Anchorage after recommendations from PCA members in Anchorage and the dealership, and am now negotiating on getting it shipped down there on a flat bed. $2,000 to $2,500 is what the quotes are coming in for that.
Will keep you all posted on how it turns out.
-TJ
At this point I am going with the shop in Anchorage after recommendations from PCA members in Anchorage and the dealership, and am now negotiating on getting it shipped down there on a flat bed. $2,000 to $2,500 is what the quotes are coming in for that.
Will keep you all posted on how it turns out.
-TJ
And $2K for a flat bed transport. Does this include an airlift?
09-14-2018, 03:54 AM
#39
09-14-2018, 06:07 AM
#40
Sorry to hear about this!
FWIW:
"Will the Insurance Company Pay for Diminished Value in My Claim?
You may be able to get compensated for the diminished value following a claim, depending on the circumstances, and which state you are living in. Each state and insurance company has different policies. Insurance companies don't always pay for a vehicle's diminished value but many consumers feel that it is the insurance company's responsibility to pay for a diminished value claim. Insurance companies in most states will consider who is responsible for the accident to decide if they will pay a diminished value.
In other states, they may not pay at all.
Diminished Value After a Non- Responsible Accident
If you had a non-responsible accident, the insurance company is more likely to cover a diminished value claim.
When someone else is responsible for your loss, you may be able to legally pursue the third party (the person responsible for the accident) or their insurer, but always ask your insurance company to pay your claim first, it could save you a lot of trouble."
See entire article:
https://www.thebalance.com/diminishe...cident-2645571
Forgetting, for the moment, whether your car can be repaired to your satisfaction. Do you know the value the day b4 your accident? KBB, NADA, etc.
Assuming tomorrow it was repaired & you could not tell it had been wrecked w/o seeing the Car Fax, what would the value be now?
Knowing these 2 numbers will give you a good idea on what you would be willing to accept as a totaled settlement from your insurance company.
Maybe you can order a new 911 & have it delivered to PEC LA & drive it back to Alaska? If you found a used CPO you liked you would need access to a Porsche dealer for any warranty work.
Is this the closest to you:
https://www.porscheanchorage.com
FWIW:
"Will the Insurance Company Pay for Diminished Value in My Claim?
You may be able to get compensated for the diminished value following a claim, depending on the circumstances, and which state you are living in. Each state and insurance company has different policies. Insurance companies don't always pay for a vehicle's diminished value but many consumers feel that it is the insurance company's responsibility to pay for a diminished value claim. Insurance companies in most states will consider who is responsible for the accident to decide if they will pay a diminished value.
In other states, they may not pay at all.
Diminished Value After a Non- Responsible Accident
If you had a non-responsible accident, the insurance company is more likely to cover a diminished value claim.
When someone else is responsible for your loss, you may be able to legally pursue the third party (the person responsible for the accident) or their insurer, but always ask your insurance company to pay your claim first, it could save you a lot of trouble."
See entire article:
https://www.thebalance.com/diminishe...cident-2645571
Forgetting, for the moment, whether your car can be repaired to your satisfaction. Do you know the value the day b4 your accident? KBB, NADA, etc.
Assuming tomorrow it was repaired & you could not tell it had been wrecked w/o seeing the Car Fax, what would the value be now?
Knowing these 2 numbers will give you a good idea on what you would be willing to accept as a totaled settlement from your insurance company.
Maybe you can order a new 911 & have it delivered to PEC LA & drive it back to Alaska? If you found a used CPO you liked you would need access to a Porsche dealer for any warranty work.
Is this the closest to you:
https://www.porscheanchorage.com
09-14-2018, 12:34 PM
#41
Burning Brakes
Thread Starter
I wish it included an airlift. Got another quote for $1,000 and looks like I am going to go with that one. Big issue seems to be the car. There are some that don't want to do it as they aren't insured enough in case something happens to it along the way. Most that do the run to Anchorage tend to be taking multiple cars and all are totaled by insurance anyways, so they don't really care. This one is a bit different.
-TJ
09-14-2018, 04:31 PM
#42
Three Wheelin'
If open carrier get some disposable XPEL wrap you apply yourself to the leading edge of your car to prevent rock damage(if that is relevant to you). Can also look at amazon.
09-14-2018, 11:24 PM
#43
Rennlist Member
Estimate was 70-90 days to repair, and that was if they could get all the parts timely. If they couldn't, then it would depend on when they could get the parts. To be honest, it is almost winter here where I live and it was going to get put away for the winter anyways. So as long as they can get it done by April, I am good at this point.
I wish it included an airlift. Got another quote for $1,000 and looks like I am going to go with that one. Big issue seems to be the car. There are some that don't want to do it as they aren't insured enough in case something happens to it along the way. Most that do the run to Anchorage tend to be taking multiple cars and all are totaled by insurance anyways, so they don't really care. This one is a bit different.
-TJ
I wish it included an airlift. Got another quote for $1,000 and looks like I am going to go with that one. Big issue seems to be the car. There are some that don't want to do it as they aren't insured enough in case something happens to it along the way. Most that do the run to Anchorage tend to be taking multiple cars and all are totaled by insurance anyways, so they don't really care. This one is a bit different.
-TJ
09-15-2018, 05:45 PM
#44
Rennlist Member
So sorry this happened to you and the gorgeous car! Sorry too, but there's no way that is a 44K repair job- closer to $100K would be my guess once they look at the frame. Get the car to a Porsche certified repair facility, not a car to mess around with local peeps.
Who's your insurance co? Google their experience with DV - since it's your company paying it could actually work out for you vs having to sue another company for DV.
Good luck!
Who's your insurance co? Google their experience with DV - since it's your company paying it could actually work out for you vs having to sue another company for DV.
Good luck!
09-15-2018, 05:47 PM
#45
Rennlist Member
BTW, You're also entitled to loss of use while it's being repaired - I once bought an M3 it took the shop so long to repair a front right fender hood and nose on a 993. Insurance covered payments until I got the 911 back then I sold it after 2 years.