Accident aftermath...what to do?
Racer
Joined: May 2001
Posts: 313
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From: Michigan and. Naples, FL
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Rennlist Member
Rennlist Member
Joined: Jun 2001
Posts: 1,586
Likes: 67
From: Virginia USA
Ouch - sorry for the loss, but glad you weren't hurt. I wrecked my own 993 about 1.5 years ago and walked away, they're good, strong cars.
Great advice here all around, and I think you have most of the answers to your questions. I provide my experiences in the hope there's something added.
My own accident was my fault, so I didn't have anyone to work with but my insurance co (Liberty Mutual), who turned out to be good to work with.
First, I found an excellent body shop who knew the LM people, too. He didnt have the machine to fix it (needed a special dedicated bench system rack to get back in shape, as the rocker pinch weld was wiped off in the accident), but got me connected to the adjusters directly and all of us got the car up to Karosserie in SE PA. Karosserie works with Ferrari of Washington, is an authorized A8 repair depot, etc. Net result, the Karosserie folks made a good case and a well-informed LM adjuster agreed it probably wasn't economically repairable.
Next step was to determine a settlement. Here I found that establishing a relationship with the insurance staff was invaluable. The woman who worked the settlement gave me an initial # lower than I wanted, but instead of yowling I asked if we could see how she got there. When presented with the options on the car and why they were particularly valuable (M030, sport seats, some other stuff), the settlement ended up market value.
I suggest you explore totalling the car, just to see if it's a viable option. I loved that car, but it made sense when confronted with the damage and numbers. You may also find that settling and buying the wreck is good for you. I did that, buying back my bent '96 for about $16k and thinking I'd build a track car. Ended up selling it to a fellow Rennlist member (hi John C!) for that price, but I kept the wheels and tires for my 951S, it was good for everyone.
In your case, I agree with others that you should contact a lawyer and explore maximizing what you get from the other guy's insurance co. I expect your company will be suing him, and you have definite losses caused by someone else's stupidity. Good luck.
(sorry for the low-quality pic, but here's the results of sliding into a tree)
Great advice here all around, and I think you have most of the answers to your questions. I provide my experiences in the hope there's something added.
My own accident was my fault, so I didn't have anyone to work with but my insurance co (Liberty Mutual), who turned out to be good to work with.
First, I found an excellent body shop who knew the LM people, too. He didnt have the machine to fix it (needed a special dedicated bench system rack to get back in shape, as the rocker pinch weld was wiped off in the accident), but got me connected to the adjusters directly and all of us got the car up to Karosserie in SE PA. Karosserie works with Ferrari of Washington, is an authorized A8 repair depot, etc. Net result, the Karosserie folks made a good case and a well-informed LM adjuster agreed it probably wasn't economically repairable.
Next step was to determine a settlement. Here I found that establishing a relationship with the insurance staff was invaluable. The woman who worked the settlement gave me an initial # lower than I wanted, but instead of yowling I asked if we could see how she got there. When presented with the options on the car and why they were particularly valuable (M030, sport seats, some other stuff), the settlement ended up market value.
I suggest you explore totalling the car, just to see if it's a viable option. I loved that car, but it made sense when confronted with the damage and numbers. You may also find that settling and buying the wreck is good for you. I did that, buying back my bent '96 for about $16k and thinking I'd build a track car. Ended up selling it to a fellow Rennlist member (hi John C!) for that price, but I kept the wheels and tires for my 951S, it was good for everyone.
In your case, I agree with others that you should contact a lawyer and explore maximizing what you get from the other guy's insurance co. I expect your company will be suing him, and you have definite losses caused by someone else's stupidity. Good luck.
(sorry for the low-quality pic, but here's the results of sliding into a tree)
