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Alas, one month into recovery from our devastating mudslides in the sleepy town of Montecito, I discovered this Porsche Targa victim. This is a 1981 911SC. Hopefully, someone will be able to salvage it and make it whole again! And yes, that's mud up about 5'-6" on the outside, right wall of the garage! A sad time indeed.
Dan, would that car be in or out of the garage (as you mentioned to me, for insurance purposes)?
That is a very important question. I inquired after this issue several years ago.
When your Porsche is INSIDE your garage (protecting it, one thinks from the elements!) its loss value is subtracted from the loss value of your house. You're better off putting it outside so that when the car is trashed, it falls under its car insurance policy, not the homeowner's.
You think you're doing yourself a favor by hiding your Porsche away from the nasty stuff, and you wind up losing more.
Some math, to demonstrate.
You have your house insurance valued at a total loss value of $1,000,000. Your Porsche is insured for $100,000. Your house is totaled, and the car likewise is swept away. TWO policies will make you right. The house total will pay off the $1M and the car policy will pay you the $100,000. If the car was inside the garage, and you value the car at $100,000, it doesn't matter. The insurance company will pay out only the cap of $1M, despite having a $100,000 car in the garage. Effectively, you have decreased the payoff to fix your house by $100,000, the value of your car. Effectively, the payout for your totaled house is now only $900,000. The car insurance policy doesn't enter into the calculations at all.
This was related to me by an insurance company. As always, it's important to ask such mundane but important questions BEFORE it becomes important. There are no stupid questions!
An added note: One guy here in town lost his Jaguar. It just disappeared, Swept away. Probably unidentifiable or in the bottom of the Pacific Ocean. He calls his insurance company. Makes his claim known. They ask him to take a picture of the odometer, proving the age of the car. ?? He replies, "but I have no car to give that information to you!" The insurance company is a little slow.
Sad. How does one even begin cleaning that type of damage? I thought seeing houses with water in them was bad but this looks to be a much harder cleanup effort.
Sad. How does one even begin cleaning that type of damage? I thought seeing houses with water in them was bad but this looks to be a much harder cleanup effort.
Having access to a small Bobcat helps a lot!
This place was once quite lush, with beautiful Coast Live Oaks and Sycamores all around, creating significant shade along the dry creek bed.
02-09-2018, 10:09 PM
Mudslide Victim
