Greeting to fellow members, I'm seeking some input and advice on dealing with my wife's '21' 911 Base Model. Purchased new in November of 20 and had 8K on the OD when she was rear ended at a light in October 21 , earliest a Porsche certified collision center could take the car was early Jan. Car was drivable and visually didn't look to bad (rear bumper and tail light damage). Repair estimates went from $2500 to $5500 and are currently over 20K due to damage to the engine sub frame and intercooler. Parts are delayed from Porsche and we have no idea when the car will be returned to us, so yesterday she purchased an 07 997 4S (second one she's owned) and we now plan on unloading the damaged car as soon as we get it back. One dealer told us they won't purchase a car with structural damage so I assume we'd be selling privately. We will be seeking diminished value and loss of use from the hitters insurance company but I've heard mixed reviews on the success rate when taking that path, especially without an attorney. Any advice from anyone who's had a similar issue would be greatly appreciated.

Cheers

 

What do you think a reasonable diminished value claim would be?

Most likely, given the general price of a base 911, it's most likely not worth hiring a lawyer.

So if you're going to claim diminished value with your insurance carrier do the following:

1. Ask your insurance company if they provide diminished value
2. If they do, ask them for the process (e.g., paperwork, timing, proof, etc.)
3. Follow their procedure to a tee, and I mean to a t-e-e.
4. Then submit your claim
5. If your insurance company does not accept diminished value claims, check with your state insurance department and see what recourse there is.

But unless you diminished value claim is significant (like upwards of 50k), then hiring a lawyer is probably not the most prudent thing to do.

Look on the bright side, your wife is (presumably) is ok and you have another 911 to drive around in.

Hope this helps, good luck.

 

Why would you sell it right away? You’re going to take the hit at the time of sale. You’re getting an effective repair that will be like new — $20k in new parts. Why not enjoy the car when you get it back? Plus, holding onto it might help with your diminished value claim and that this car meant something to you.

Be thankful that you’re not driving a Nissan while the 911 is getting repairs. It could be a lot worse.

Have you asked your own insurance company about a diminished value claim here? Agreed with @ipse dixit on what you should be doing.

I frequently see RennListers comment on going into something without an attorney. You own a new 911. You’ve clearly got assets. You should be able to afford an attorney. An attorney can help you on both ends here, getting your own insurance company to step up on the diminished value claim and/or adding to the pressure to the insurance company of the folks that hit you. An attorney is cheap relative to the impact of the outcomes.

For the many business professionals and folks who don’t want to be hassled, an attorney can also save you a lot of time here — ah, the glory of just telling your counsel to “fix it”. I’ve got three different firms engaged and on the ready for whatever I am dealing with. If you own a 911, you should already have at least one lawyer that you can pick up the phone and call.

I served on a board with a guy who had a great saying, “If you don’t think that this is a free country, you have the wrong attorney”. He’s 100% correct.

Good luck and hope that your car is back in action soon.

 

Depending on your State laws you should be paid for repairs by the other party’s insurance. I’ve been successful with diminished value claims in the past on high end cars without attorneys. Simply ask your dealer for a letter stating what your car was worth in the current market and what it will be worth after repair. Use that as your basis for the claim.
Be aware that if the diminished value claim is big enough that it and the original repair cost may be high enough to trigger a “total” and you would be paid off. In that scenario the same letter would be the basis for the total value.
You might even push for that resolution.

 

Unfortunately, I recently went through the same ordeal you are now involved in. Your car was 11 months old, mine was 13. Even though my car did NOT sustain any structural damage the repair bill was still over $28K since there were still quite a few bolt on parts that had to be replaced as I hit by a tractor-trailer who crossed the center line in a 180 degree turn. I was lucky that my 992 C2S was able to get parts faster than others I've heard about.

I am 50% at dealing with diminished value claims; did NOT get it while living in Ohio in 2007 and recently (took a LOT of effort) got one from the state of TN literally since it was one of their DOT trucks that hit the front end and driver's side of my 911. It was a LOT OF WORK to make the at fault insurance company move; followup with two insurance carriers, collision center, etc. The company representing TN DOT was very unresponsive even though I had video of the accident, clearly showing their driver was at fault which driver stated, and which the state police report agreed and stated. I had to go through my insurance company (long story) and they do NOT pay diminished value, period. That has to be collected from the at fault insurance company. I had to finally file a formal complaint with the State of TN Insurance Commissioner's office to get the ball moving slightly. Then another round of lots of phone calls, etc. My Porsche SA told me 10% was a good estimate for diminished value and that is what I used on my formal complaint and I received over 7% which did NOT justify hiring a lawyer since their hourly rates are typically in the $350/hr range so that difference in DM could have been eaten up very quickly.

Anyway, please send me a private message if you'd like, and we can discuss in further detail but it's definitely not a short process by any stretch of the imagination but for me, I consider myself very fortunate as my car runs just like it did before the accident so I am in absolutely no hurry to trade it. I hope everything works out well in your situation as well.

 

I recommend you find an independent appraiser in your area and negotiate with the hitter's insurance company with appraisal in hand. I was rear ended several years ago in my 997, which had about $35K value at the time. In addition to $15k repairs, I negotiated $5000 diminished value. Paid the appraiser about $300. (Ultimately sold the car for $30K last year.) You may want to threaten court action or small claims court, if you don't get what you want.

 

25 years ago I had a 993TT got hit really bad while it was parked. Broke off two wheels one turbo charger and Bent the tub. $68,000 of damage . The insurance company wouldn’t total it.I had 118 into the car so I took the insurance and sold it to the body shop for 50 .. They rebuilt it for 15 sold it to a local dealer for 85 who sold it for 110. Fine with me ,I walked away from the car with all my money back .carl

 

You should find a diminished value lawyer. Most of them have appraisers they use and they know how much you can get. This is usually a flat fee service and they don't charge hourly.

 

After selling a 2014 911S I bought a 2018 Shelby GT350 and was rear ended second week of ownership. Damage was 25K on a 62K MSRP and despite my pleading my insurer, Allstate would no total the car nor would they entertain a diminished value claim.
I found a local attorney who helped me collect from the other insurer. Nothing out of pocket on my end with them keeping 33%.

In my case it helped because when I sold the mustang I saw how the value changed with the damage reported.

Good luck

 

deleted - somehow responded to wrong thread.

 

When I researched the diminished value claim I discovered that most insurance companies use the same formula. It starts with 10% of the car’s value and reduced by factors depending on the severity of the damage and cost of repair. In other words, there’s no way to reach the 10% number.