Totaled Porsche - Need Advice
12-05-2016, 12:10 PM
#1
Totaled Porsche - Need Advice
Hi -
I got in a fender bender and likely totaled my Porsche. It wasn't that high of an impact as the other car was barely damaged but the airbags deployed and the front in is crunched. I got cited for "driving too fast for the conditions" which I thought was a little unfair.
The insurance agent said they would pay me the value of the car minus my $500 deductible. I have about $20k of mods in the car including a supercharger. My insurance does not know about the mods so I am assuming the mods are not covered? Would I be wise to not mention it or see if I can get a bit more for the mods? Thanks.
Jesse
I got in a fender bender and likely totaled my Porsche. It wasn't that high of an impact as the other car was barely damaged but the airbags deployed and the front in is crunched. I got cited for "driving too fast for the conditions" which I thought was a little unfair.
The insurance agent said they would pay me the value of the car minus my $500 deductible. I have about $20k of mods in the car including a supercharger. My insurance does not know about the mods so I am assuming the mods are not covered? Would I be wise to not mention it or see if I can get a bit more for the mods? Thanks.
Jesse
12-05-2016, 12:14 PM
#2
Mods are not covered unless you tell them when you write the policy. But if you have receipts they may pay for some of it. When I got my 911 Geico asked that question specifically. Did I have any mods that I wanted covered. So what and who did you hit?
12-05-2016, 12:23 PM
#3
Rennlist Member
Sorry for your loss but that is by deffenition, not a fender bender. Mods aren't covered unless they can milk you for it throughout your coverage. Best bet is to try and control where the car ends up so you can strip the mods off.
I wouldn't admit too much of the details here.
I'm sure a fairly decent PI could link any posts to you and they could use it to deny payment.
I wouldn't admit too much of the details here.
I'm sure a fairly decent PI could link any posts to you and they could use it to deny payment.
12-05-2016, 12:39 PM
#4
Rennlist Member
I took day off the next day from work, went to junk yard, and went to town. Borrowed the junk yards jack and removed my aftermarket wheels and replaced with the stock wheels - the rear bumper was pushed so far in that the 2 rear wheels took almost an hour to remove. I removed every door panel, took out every mid speaker and tweeter, casually dropped in the original speakers, and screwed back the door panels. I pried open the trunk with a crowbar and removed the amp, processor, and sub. So as you can see, I made sure to get as much as I could since it was no value to the insurance company.
If I were you, I would do the same. Get what you can out of there ASAP.
12-05-2016, 12:56 PM
#7
Rennlist Member
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12-05-2016, 01:55 PM
#10
With the exception of the TPC module, its not too easy to take out the blower and the other mods. As for going to the Yard and removing things, most places no longer allow you to even walk around in them, let alone remove items.
12-05-2016, 03:42 PM
#11
Since I did something similar this year, I'll share the cliff-notes of my story.
2002 C2, fair number of mods. Single car incident. Repair estimate of $16,000 CAD by local Porsche certified body shop. Insurance appraised the repairs at $22,000 CAD. Body shop figured difference was due to "entire exhaust system replacement." - The tips had fallen off. Insurance deemed the vehicle a total loss.
Option 1: Keep car, salvage title, repair @ shop for more realistic $10,000 (really it needed bumpers and a rad, plus misc. hardware). The original estimate included all glass and repainting EVERYTHING. This would equate to an insurance payout $13,500 CAD less than forfeiting the car.
Option 2: Take the insurance money & run. I was fortunate in that I THINK the appraiser mistook my Carrera for a Turbo (it had the Aero II wing and skirts). Their offer was $10k MORE than purchase price, and likely $15-20k more than market.
I managed to get several of my mods off the car, while lost some of the expensive ones (Coil overs, X-pipe). The stipulation from insurance was that I had to replace the parts with the corresponding OEM part, as that was what it was insured for. I could not leave it without a part.
Anyway, the car turned up a few months later. I had left my # in the glove box and the new owner had picked it up @ auction for $10,000. He's a good wrench, so for ~$15k he's going to have a perfectly fine 996 (new windshield, IMS, RMS, clutch, coil overs, ....), but with a salvage title.
2002 C2, fair number of mods. Single car incident. Repair estimate of $16,000 CAD by local Porsche certified body shop. Insurance appraised the repairs at $22,000 CAD. Body shop figured difference was due to "entire exhaust system replacement." - The tips had fallen off. Insurance deemed the vehicle a total loss.
Option 1: Keep car, salvage title, repair @ shop for more realistic $10,000 (really it needed bumpers and a rad, plus misc. hardware). The original estimate included all glass and repainting EVERYTHING. This would equate to an insurance payout $13,500 CAD less than forfeiting the car.
Option 2: Take the insurance money & run. I was fortunate in that I THINK the appraiser mistook my Carrera for a Turbo (it had the Aero II wing and skirts). Their offer was $10k MORE than purchase price, and likely $15-20k more than market.
I managed to get several of my mods off the car, while lost some of the expensive ones (Coil overs, X-pipe). The stipulation from insurance was that I had to replace the parts with the corresponding OEM part, as that was what it was insured for. I could not leave it without a part.
Anyway, the car turned up a few months later. I had left my # in the glove box and the new owner had picked it up @ auction for $10,000. He's a good wrench, so for ~$15k he's going to have a perfectly fine 996 (new windshield, IMS, RMS, clutch, coil overs, ....), but with a salvage title.
