PCA1983

Forgot to say, the repairs would have to be at a Porsche - approved collision repair shop, if it were my 911.

Top Jimmy

Two separate insurance company's, and for some reason they won't get together and hash out who gets to pay for what to total it. The tow truck was working for me as my insurance would only pay to transport the vehicle to the nearest shop that said they could do it. I wanted it done at an experienced shop that was recommended by the Porsche dealer here, so I had it sent there instead. Tow truck company's insurance is handling the interior damage, and my insurance is handling the outside damage.

-TJ

fast1

I had an accident in 2007 in which my Porsche sustained $12K in damages, and I was able to get $4500 in DV. A police report was submitted to my and the other driver's insurance companies, which placed 100% of the fault for the accident on the other driver. Nevertheless, the insurance company fought me every step of the way. It wasn't until I filed a small claims suit against the insurance company that they finally relented. It took about a year for me to finally get the issue resolved. My costs: $250 for a professionally prepared DV report and countless hours on my part. I suppose the $4500 was worth all the aggravation, but it was a close call.

Gordon Shumway

First of all, that damage you incurred is painful to see. I have gone through the accident, repair, DV process this year, and can tell you their offer of $3500 is absurd. My accident was a secondary rear end collision, that was easily repaired to like new condition with all bolt-on parts, and a paint job on a new bumper cover at a PACC. The repair costs on my vehicle were a little over $13K (new bumper cover, new impact bar, new heat shields, new full exhaust system, and attendant parts). Not even close to a scratch on a frame part, just typical expensive Porsche parts.

That accident is almost indescribably minor on the repair scale to what you encountered, and I was able to negotiate for myself 4X as much of a settlement for DV as you were offered. Severity of accident is the key element so they are royally trying to hose you.

I looked at all the state laws on diminished value, and there is no formula for determining DV for a 3rd party claim like yours (or mine) in any state. Where there is settled case law on 3rd party DV, it is just what you can prove, or what you can negotiate. Also any idea that all you can collect is 50% of the repair cost is something perpetuated by the insurance companies, as I collected a little over 100% of the repair cost on my own.

Unfortunately for you, Alaska has no settled case law that you are even entitled to DV on a 3rd party basis, and as a result likely no, or not many, DV specialist lawyers . However you should be past that problem as the perp's insurance company has already made an offer. Of course, you also have to consider that DV goes down over time just like depreciation does. I'm no expert, but I suspect the resale value of your 2014 TTS is about roughly the same value as my 3 week old GTS at the time of my accident. Based on what I was able to get for a "repaired as new" accident, your accident should be at at least in the $20+K range.

Top Jimmy

UPDATE

I now have an attorney involved and we are waiting until the entire car is repaired so we know the full extent of the damage and the cost to repair. Exterior repair is up to $50,000 so far after a supplemental invoice from the shop, and the interior damage is now at $15,000 for the initial estimate. The response from USAA to my quotes for DV:

"a significant portion of the repair costs are bolt off parts, which means the damaged part was unbolted and discarded and a brand new part put back in its place. it is common that when a vehicle owner puts new parts on their vehicle that the vehicle owner argues that the value of the vehicle has been increased, not decreased."

You just can't make this stuff up.

-TJ

aCayenneFan

Is it any wonder why insurance companies are so hated? I have a family member who lost their house in the fire that turned much of Oak Park, CA into an ash heap, and they have a similar story of how their insurance company is raking them over the coals.

.2PDK

The vehicle owner can argue whatever he wants, the reality of it differs substantially.

Unless of course they can provide verifiable data to support bolt-ons after major accidents increases resale prices.

Can't wait to see the report...

.2PDK

Literally.

bkrantz

Does any of that include tub or suspension parts and work?

At this point you need to let your lawyer do the talking. But I would be tempted to ask the USAA rep obnoxious questions about how replacing broken parts improves the value of things like artwork, race horses, and the human body.

aCayenneFan

Anything other than what comes out of the attorney's mouth is immaterial. The one item that I don't believe has been addressed is whether there is any damage to the chassis (everything back from the firewall). Forward of the firewall is replaceable, but at a diminished value. Things like sticker(s) applied at the factory will not be part of the 'new' 'bolt-on' parts and will distinguish a repaired car from a virgin (no collision damage) car. That is the starting point for a DV claim.

For every obnoxious question posed to the USAA rep, there will be a counter response. Their claims adjusting system will have a complete inventory of past Q&As. You are wrestling with a pig - the pig enjoys the experience and you get all muddy.

DIMINISHEDVALUE

Should this matter be headed toward litigation, you would be wise to give the insurance company the opportunity (do this in writing) to find a Porsche dealer - any Porsche dealer - that will pay as much or more than Fair Market Value for your car after accident repairs because OEM parts were used. A nationwide search would provide them with zero takers. They won't search, of course, which buttresses your assertion as well.

.2PDK

Yup, his lawyer should be all over that.

bkrantz

You are correct about the USAA pig. Of course, the best thing to do with a pig is bacon.

Macmtr

TJ,

Did you ever receive a DV settlement on your Turbo S? If so, did you have to employ an attorney?

Thanks,

Jason

TimboCarrera

I've had many wrecks. Never were the vehicles right afterwards. Get involved to make sure every detailed area is considered. A semi took out my diesel truck and they were charged. The paperwork I signed stated they would fix additional damage if found later. More damage was found and now they will do nothing. It's a total, say goodbye. Glad you are ok, I guess you are right.