NNN Investment

All this talk is the reason I'm leaning towards leasing. I have a guy here in South Florida that specializes in appraisals and diminished value reports. Very professional and provides comps all in a binder. Then you would get a letter from your local Porsche dealer for trade in with and without accident. Then cross your fingers. His name is Tom Willhite (561) 213-5237.

fast1

A half way decent lawyer is going to charge $300 an hour, and I'll guarantee you that All State will swamp your lawyer with paper work. My advice is to take this to Small Claims Court. The maximum you can sue for varies by State, but you should be able to sue for at least $5K in most States. Since the at fault party is not in doubt, an appraisal from someone who has expertise in diminished value should be all that you need to prevail in Court. Good luck.

ropo

I am a lawyer in Miami/Ft. Lauderdale.
Different insurance companies will take differing positions on diminution in value claims. Nonetheless, if the accident was caused by the 'other' vehicle, you have entitlement to it under the law. Some will try to fight it, hoping to deter you from pursuing the claim, but ultimately you will prevail. Remember, too, it costs the insurance carrier money to defend the claim as well.
(You will need an expert evaluation as to the diminution amount, to prove your claim).

DIMINISHEDVALUE

The preferred way to proceed is to find a licensed independent auto appraiser who prepares diminished value reports. But there is as wide a spectrum of quality within that field as there is in the collision repair business. Most independent appraisers don't provide much more than either their "expert" opinion based on experience or a formula (look up Rule 17-C) which are also referred to as algorithms. They have no relation to the reality of selling or trading a car with a bad Carfax but more importantly, when the insurance company recognizes the lack of evidentiary credibility they can confidently say "Go ahead and sue us." I mentioned hiring a licensed appraiser. One need not be licensed to write diminished value reports but someone with an auto appraisers license from any state is a valuable credential. And as far as the best method for determining the existence and amount of value your car has lost as a result of being wrecked and repaired, look for an appraiser that picks up the phone and makes inquiries to sales managers at multiple dealerships because they are the experts in the business of buying, selling, trading and auctioning bad Carfax cars. That would be a real deal diminished value report.

maxpowers

I hired someone recommended by my insurance company that did the appraisal that found it was around $5,000. All state is saying it isn't enough to prove diminished value without "VIN specific properly repaired vehicles to establish what the appraiser alleges to be the post-repair value"

Is the appraisal I have enough to take to small claims court or should I hire an attorney? I don't want to spend $5,000 in legal fees to recover $2,0000

Austin-Guy

Shouldn't the leagal fee also have to be paid by Allstate if you win, no matter what the diminished value is?

susansmithfromho

I can tell you from experience that any independent appraiser you choose that uses a formula or "algorithm" instead of getting quotes from the sales managers at multiple dealerships is ripping you off.

mdrobc1213

Ditto...mine got hit in Vegas last July and although State Farm paid my insurance company for the repair...diminished value requests went to deaf ears on multiple occasions.

ropo

No, legal fees are not the obligation of the insurance carrier which is obligated to pay the diminution claim. Legal fees are only available to the claimant if: there is a statute providing for same, or a contractual provision between parties, or if there is a non-justiciable issue.
Unfortunately, there is no statute allowing for fees, you have no contractual relation with the adverse insurance company, and the valuation issue takes this out of the non-justiciable issue category.

If you'd like send me an email and I'll send you my phone number and you can call me to discuss.

You can certainly start in small claims court - the rules of procedure are much looser there - and I'll be happy to guide you through the process. Alternatively, we could try sending a lawyer's letter to let Allstate know you have gotten serious and we can see what happens before filing in small claims court, if that is the route you choose to go.

There is also a procedural rule which would allow you to file a "proposal for settlement". If Allstate does not accept your offer, one of the ramifications would be that they could owe you fees. I'd be happy to discuss in more detail over the phone.

Rob

NNN Investment

I'm currently in negotiations with either a 14 turbo or 17 carerra. The manager at two Porsche dealers told me that they would not even take a trade of a 911 turbo that had a carfax. That is a lot of pressure to deal with. I'm leaning towards leasing. Seems like less anxiety.

FLT951

1. All State is the worst carrier on earth to fairly evaluate any claim on a high value, rare, collector, special or (read this loud and clear) ANY vehicle whatsoever.
2. All the others finish a close second because, the fact is, no insurance company recognizes or pays a claim based on diminished value.
Use an insurance broker who understands cars, especially your car, and have him handle the claim because very few of you will ever persuade a carrier to pay with that as a factor. Why? Because they don't have to.
This discussion is older than cars and Travelers Insurance Co. combined.
I know my comments will be unpopular but they are the truth.
Good luck with those attorneys fees! First, no attorney with a brain would ever take a case. Second, why would an Insurance Co. be responsible for their fees? Do you think an attorney would ever get a diminished value case into court? So much misinformation on here.
It CAN happen but only rarely and only when you and the adjuster develop some unusual rapport.
I love rop0's answer because I think he is going to agree with me and tell you how to develop the rapport or go thru another means. BTW, rop0, I have a clone of your car. I'm waxing it between posts.

kayjh

Exactly. You might pay a bit more in interest on the lease but if someone rear ends you and they out Humpty Dumpty together again, you turn it in and it's PCNAs problem. Where I live auto insurance is government run with little room to negotiate on an issue like this (I tried with my brother's write off), so leasing is a serious consideration when it comes accidents.

ropo

TO FLT951:
Thank you for the compliments about my car and yours! (You have good taste!)

Insurance carriers will pay based on diminution in value. Many times one must push the issue with them, but the law supports the claim, so, if one can prove it one will win.

As to whether lawyers will take the claim, well, based on the valuation of the loss it is obviously a "small claim" to become involved in. Usually, I have handled them as part of the whole claim, which usually involves an injured person, damage to his car, and his diminution claim. Yes, the carrier will pay a proved claim. Independently, they can be handled as well, but it requires judicious lawyering to keep the fees to the client manageable! As suggested, a properly worded beginning lawyer's letter is the appropriate starting point, and small claims court provides a simplified process (if the claim is an independent matter, without the injury claim and the collision damage claim).

Rob

unkiemotorhead

Interesting thread. I'm in the middle of a $40k repair on a $200+k somewhat rare car, at the expense of the 2nd party's insurance (they have accepted liability for the damage caused to my car). I have advice from repair experts that is consistent with what I've learned from hours of research of mine, and some of the posts here..... that diminished value claims can be negotiated and collected. Apparently individual state law affects this. I'm in CA and such claims are apparently acknowledged as legit by law here as well as in other states, though not necessarily all. Whether and how an attorney is involved can vary of course. As can the size of the initial claim. I have engaged wizards to determine and document the diminished value estimates. I have not yet engaged an attorney. I'll report back in a month or two (or more) once my claim is resolved. We'll know then whether or not I know what I'm talking about. unkie

HelpMeHelpU

Skip the lawyer and try reaching out to Billy at http://collisionsafetyconsultants.com. I have recently engaged them on a DV claim and since it's still in process, I cannot (yet) vouch for his services, but what he says sounds good and he appears to be very experienced. I am in NJ, have GEICO, and was hit by a NJ State Trooper. I will surely let you and others know how it turns out. (Stranger, though, was the repair shop to which I brought my car was able to "negotiate" a repair claim for $29k, when I was told by that same shop a ballpark est. was ~$15k and another certified Porsche Collision center gave me a $12k est. I will be writing more about this experience soon, after I figure out what I am doing with the repair and how the DV claim goes.)