I got hit. Advice on diminished value?
08-18-2006, 06:44 PM
#31
The Penguin King
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Originally Posted by fluid15
I cringe thinking about your car getting smashed, but without question the health of you and your daughter is the real concern. I've been rear-ended three times, none of them near as damaging as you've described but still resulted in major discomfort for me (ranging from limited sleep to trying to concentrate on work with an aching/stiff neck). You'll both begin to feel it around Day 2 or 3. Just in case you didn't get medical attention on the spot, don't hesistate to seek it out ASAP and start the claim. Best wishes with your recovery ... and appropriate compensation for your 997!
Mike
08-18-2006, 07:03 PM
#33
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I'm one of the first ones to get in an accident with the 997 on this forum. I received $11K in
diminished value from the other person's insurance company. You need to find a lawyer who is willing to work with you and it is best to find one that has done it before. Lawyers don't make much money on these cases. Many lawyers will probably reject your case.
diminished value from the other person's insurance company. You need to find a lawyer who is willing to work with you and it is best to find one that has done it before. Lawyers don't make much money on these cases. Many lawyers will probably reject your case.
08-18-2006, 07:13 PM
#34
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Originally Posted by mglobe
I doubt you mean to be, but don't get too smug. I've been driving for 35 years and have had one other accident in all that time. Same sort of deal, sitting at a red light. And in both instances, there WAS no escape route. Sometimes stuff we can't control just happens. I've been through much much worse than this.
Mike
Mike
Oh no I understand that, I'm just cautious is what I'm saying. I don't know your situation at all but it's easy to sit at a stoplight and just unfocuse for a few moments.
08-18-2006, 07:21 PM
#35
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Originally Posted by steve775
I'm one of the first ones to get in an accident with the 997 on this forum. I received $11K in
diminished value from the other person's insurance company. You need to find a lawyer who is willing to work with you and it is best to find one that has done it before. Lawyers don't make much money on these cases. Many lawyers will probably reject your case.
diminished value from the other person's insurance company. You need to find a lawyer who is willing to work with you and it is best to find one that has done it before. Lawyers don't make much money on these cases. Many lawyers will probably reject your case.
Thanks, for the $ amount. My insurance co State Farm seemed to be very well versed (and not all that negative) about diminished value when I talked to them. They said it depends upon the insurance co, but that it was fairly common practice, particularly with Porsches. I'm searching for a lawyer right now, and I'm thinking the first step will be to have him/her contact the company about the issue.
...more to come!
Last edited by mglobe; 08-18-2006 at 07:46 PM.
08-18-2006, 07:40 PM
#36
Three Wheelin'
I've dealt with insurance companies when my car was damage beyond what I felt was worth fixing. I sold the car as scrap to a scrap dealer and had the insurance company pay me deminition of value that would replace my car. Sounds easy, but it wasn't. I would strongly suggest you get an attorney, and get your head checked out. Ins companies are far more likely to deal if they believe a physical injury is involved, assuming yours is real. Physical injuries are difficult to put a price on, but cars are not. GET AN ATTORNEY!!!!
08-18-2006, 07:43 PM
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Be very careful about what you discuss in a public forum, specially speculating on dimminished value. It becomes public and may be used by the other side (party or insurance company). Good luck.
08-18-2006, 07:46 PM
#38
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Originally Posted by rmklaw
Be very careful about what you discuss in a public forum, specially speculating on dimminished value. It becomes public and may be used by the other side (party or insurance company). Good luck.
Damn I miss my car already. Camry... blech
08-18-2006, 09:54 PM
#40
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nah, and I'm going to upgrade the thing. Can't stand the humiliation of driving a flipping camry.
Did you get the laundry done?
Did you get the laundry done?
08-18-2006, 10:00 PM
#41
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Originally Posted by mglobe
nah, and I'm going to upgrade the thing. Can't stand the humiliation of driving a flipping camry.
Did you get the laundry done?
Did you get the laundry done?
Plus my ploy to get the girl I've been chasing to come over and do it with me seems like a great idea.
I was going to suggest you torch the camry, shrug it off due to $25 insurance, and have them give you something nicer
haha
Sort of a ritual sacrifice, so to speak.
Hmmm maybe this is why they don't let people under 25 rent cars...
08-18-2006, 11:03 PM
#42
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Originally Posted by barrett
cr2000,
I only skimmed the link you provided about diminished value, but I will say that those cases discussed at the link talk about whether an insurance company is obligated to compensate THEIR INSUREDS for diminished value. The relationship between an insurer and its insured is based on contract; the contract defines the limits of the insurance company's obligations to the insured. Within this context, Texas and other states have held that, unless the contract specifically allows for diminished value, the right to diminished value is not one that courts are going to "read into" the contract.
Now, the question we're talking about here--where someone else's insurance is covering your claim because the other person was at fault--is entirely different. The relationship between you and the other driver's insurance is not defined by contract because no contract exists between you two. Rather, the relationship that is key is the one between you and the other driver (with the other driver's insurance company standing in the driver's shoes). The relationship between you and the other driver is grounded in tort law, not contract law. A claim for diminished value sounds in tort, so no contractual prohibitions against diminished value found in the insurance agreement between the insurance company and its insured can limit your rights. Short answer: you can certainly ask for diminished value. If the insurance company for the other driver tells you to take a hike, sue the other driver. The insurance company will be brought back in to defend the other driver in the litigation.
I only skimmed the link you provided about diminished value, but I will say that those cases discussed at the link talk about whether an insurance company is obligated to compensate THEIR INSUREDS for diminished value. The relationship between an insurer and its insured is based on contract; the contract defines the limits of the insurance company's obligations to the insured. Within this context, Texas and other states have held that, unless the contract specifically allows for diminished value, the right to diminished value is not one that courts are going to "read into" the contract.
Now, the question we're talking about here--where someone else's insurance is covering your claim because the other person was at fault--is entirely different. The relationship between you and the other driver's insurance is not defined by contract because no contract exists between you two. Rather, the relationship that is key is the one between you and the other driver (with the other driver's insurance company standing in the driver's shoes). The relationship between you and the other driver is grounded in tort law, not contract law. A claim for diminished value sounds in tort, so no contractual prohibitions against diminished value found in the insurance agreement between the insurance company and its insured can limit your rights. Short answer: you can certainly ask for diminished value. If the insurance company for the other driver tells you to take a hike, sue the other driver. The insurance company will be brought back in to defend the other driver in the litigation.
I was wondering how I would be bound by a contract that someone else has with their insurance company. Your distinction of the relationship (contractual vs tort) clears that up completely. I'm tucking your post away should I ever find myself needing to make a claim for diminished value in the future.
08-19-2006, 01:47 AM
#43
Race Director
1st of all I am glad you and your daughter seem to be OK.
2nd of all PLEASE go to a reputable doctir and have yourselves checked out especially since you have headaches.
3rd of all get the best accident lawyer you can find and go after the guy that hit you plus his insurance company.
Have fun picking out your new car!
2nd of all PLEASE go to a reputable doctir and have yourselves checked out especially since you have headaches.
3rd of all get the best accident lawyer you can find and go after the guy that hit you plus his insurance company.
Have fun picking out your new car!
08-19-2006, 02:08 AM
#44
Originally Posted by mglobe
In my 997. Motherf&%k! I'm sitting at a red light at the corner of Hillcroft & Bissonnet, and this guy just plows into me. I don't think he even hit his brakes. Knocked my head into the headrest so hard I've got a knot on my head and a nasty headache. My daughter was with me & has a headache too. She started crying immediately, because of the car. She loves it that much. The car, actually looks better than the guy's suburban, which was a mess. The impact caused us to hit the suburban in front of us, so both the front and back of my car got it. I can't tell how bad it is under the bumpers, but I'm pretty sure the front bumper is bent fairly bad, cause I couldn't get the towing hook threaded in. The engine starts, and then dies after about 20 secs. I had the car towed to the dealer (Momentum), and will have them inspect it in the AM.
To make matters just a little worse, the guy that hit me is the father of one of the girls on my daughter's soccer team. I'm going to have to look at him all season.
Anyone have any advice on how to proceed with a diminished value claim?
To make matters just a little worse, the guy that hit me is the father of one of the girls on my daughter's soccer team. I'm going to have to look at him all season.
Anyone have any advice on how to proceed with a diminished value claim?
I haven't read this whole thread, so please ignore any repetition of advice already proffered.
* keep an eye on your daughter -- depending on age, kids can hide injuries and symptoms for days
* don't sign anything your insurer provides no matter how much they insist and what they say to force your hand
* get an attorney, take the advice of the attorney
* anticipate the possibility of repercussions (health) for years, even decades ... no kidding
* assume the car is a write-off -- once you've had a fender bender at one end, it's probably close to a write-off, with two ends damaged, it's almost certainly done
* diminished value and sales tax to replace the car are part of the picture, again, use your attorney and look to have the law firm claim their costs against your insurer
* the insurer will be hoping to keep this in the tens and hundreds of thousands and assume the claim will stay open for years and decades unless the insured is stupid enough to sign something that waives all future claims in return for payment of an initial amount -- again, don't sign anything from your insurer or anyone who's not properly addressed as "officer." : )
Again, keep a very close eye on your daughter for a while and be suspicious of any tiny symptom from a headache to weakness or mood swing. I'm not going to get into personal history, suffice to say it's worth being a little bit of an over-protective parent for a couple of weeks until this all blows over.
As for the car, try very hard to get a write-off and use diminished value as leverage -- maybe $20K in lost resale value.
Those PU bumpers can take a helluva hit but the stuff "under there" is a maze of delicate components that must be replaced as unit assemblies and everything from a/c to power steering and suspension can be damaged without visible evidence. All occupied seat belts must be replaced. Occupied seats (obviously those with deployed bags) must be replaced. If you have a lump on your head, you need to consider what else happened to your whole body and your daughter's whole body because it's not as if just the back of your skull experienced the deceleration injuries. Expect seat belts to leave bruises (superficial and internal) which might take a day or two to reveal.
Again, get an attorney specializing in injuries related to car accidents. Not an ambulance chaser. I'd imagine there's attorneys here on RL, if not, start with your insurer asking for them to explain your coverage and your options for recourse to be sure you are receiving full assistance.
The bottom line is the car is unimportant but if you or your daughter starts to suffer consequences from this incident, you want to be prepared.
All that said, it sounds like you're in good spirits and kids are famously resilient, so I'm not wanting to be pessimistic, it's just precautionary.
08-19-2006, 12:06 PM
#45
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Originally Posted by Vancouver83LTD
this is why I like to mirror check about every 15 - and plan an escape route.
This is also why when my parents were out of town and I was a learning driver (must have a supervisor, etc etc) I didn't like to take the care out, even at two in the morning.
This is also why when my parents were out of town and I was a learning driver (must have a supervisor, etc etc) I didn't like to take the care out, even at two in the morning.
In this case, you were sitting there. There wasn't much you could do. You couldn't get out of the way even if you saw this dumb nut coming at you.
About a month, I was on the freeway and a total tint-out SUV slammed on the brakes in front of me. I slammed on mine and my car stopped on the dime with plenty of room to spare. I looked in the rear view mirror and saw this punk in an old late 70's Cadillac or Buick . My immediate thoughts were that he had brakes the size of my bicycle's for the big monster car of his. Sh*t, I knew I had to do something 'cause he was loving my fat Porsche ***. I slammed into first gear and pulled to the left shoulder of the freeway. Seconds later, he was screeching, his wheels locked, he was fishtailing, and came to a stop inches away from the bumper of the SUV. I looked over and he was side by side to me. He was sweating. He didn't look over. I think he was afraid that I would kill him.
I don't think I could have survived that crash. His bumper would have cut my head off.
I haven't taken my Porsche on the freeway during rush hour ever since.