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Brand new Macan rear-ended--anyone have any experience with a diminished value claim?
My wife got rear-ended in her brand new Macan S last night. We've had the car for a little under a month and don't even have the plates for it yet; right around 700 miles on the odometer. She is fine and not even feeling any soreness at all this morning which is a blessing--damage was fairly low speed as she was the front car in a 3 car accident. From what I can see it's at least rear bumper, lower hatch trim panel, exhaust/exhaust tips, reflectors, hitch, and maybe some internal parts. However, the car will now have an accident on the report and I'm curious about how we can recover as much as possible of the diminished value. Both us and the party at fault have State Farm and the accident took place in Texas; anyone have experience with this?
Press hard for the diminished value. I didn't for the disabled guy in a hands controlled van who rear ended me in the TT at about 3 mph. Was stopped at a red light with nowhere to advance to except into the intersection. He was a paraplegic sitting in the driver's seat in a wheel chair.
Got an official repair shop job of replace bumper. Grapefruit size dent and no structural damage. Felt sorry for the guy. Worst insult was the USAA phone rep who said it would be reported as "Shared responsibility at 50% each". WTF?
You have to push hard because their first offer is just to see if they can get away with it.
Not my Porsche, but on my Corvette being rear-ended. (I was "At Fault" when I recently totalled my Porsche.)
Diminished Value is an option. Insurance companies use "Formula 17C" to establish value. It's roughly 10% of the pre-accident value. Other things to consider: do not take a rental if at all possible. Do claim the rentals actual value based on the type of vehicle your driving. The Macan S should be up there for a daily rate (check Enterprise, Hertz and TURO). Claim the most expensive daily rate. The insurance company will choose, but it should be close to your claim. Things they won't consider: car payments, insurance, registration and any add-ons.
My Corvette rental paid claim was $250/day for 89days.
Not my Porsche, but on my Corvette being rear-ended. (I was "At Fault" when I recently totalled my Porsche.)
Diminished Value is an option. Insurance companies use "Formula 17C" to establish value. It's roughly 10% of the pre-accident value. Other things to consider: do not take a rental if at all possible. Do claim the rentals actual value based on the type of vehicle your driving. The Macan S should be up there for a daily rate (check Enterprise, Hertz and TURO). Claim the most expensive daily rate. The insurance company will choose, but it should be close to your claim. Things they won't consider: car payments, insurance, registration and any add-ons.
My Corvette rental paid claim was $250/day for 89days.
We have a third car to drive so we don't need to get a rental, but I was not aware I could claim rental expenses for a car I don't rent. Do I just find the rental rate for a comparable model vehicle or do I need to call them to get a quote?
We have a third car to drive so we don't need to get a rental, but I was not aware I could claim rental expenses for a car I don't rent. Do I just find the rental rate for a comparable model vehicle or do I need to call them to get a quote?
No, just do it online. Get the major rental companies and don't forget Turo. This was my 'Vette spreadsheet. All the bottom you can disregard.
Oh I am so sorry and very glad to hear that your wife is OK.
I hate to bring this up but your insurance company might total your car.
This past May I was rear ended in my 2018 GTS waiting at a red light coming home from packing up my classroom. I had a F150 truck pushed into me from being rear ended himself. Like your pictures it didn’t look to bad. My body shop was ordering parts from the dealer and getting the parts in. 2 weeks later I get a call from the “total loss” guy in my insurance company and he tells me that they are totaling my car and that I needed to get them the title to the car like yesterday. I was shocked. I wanted to cry. Like others, I custom ordered my car, waited an extra month to pick it up at PEC. I asked the guy why, the last I heard the body shop was getting parts in from the dealer. He told me that when they took the bumper off they found structural damage. My old one had the factory installed tow hitch and that took the brunt of the damage, and even with the tow hitch taking most of the hit, the frame was still bent.
My friends were like buy the car from insurance company and fix it. I jokingly told the body shop that and the manager and my adjuster both said, don’t. They in the past have told people that the damage was not to bad and to buy the car and they could fix it. They both told me that with as much structural damage they found they wouldn’t touch my car. As much as I loved my GTS and heavens knows I loved it I wouldn’t feel safe driving it after it was fixed.
Thankfully I still had my little S5 convertible to drive until my new one could be built, so I didn’t take the insurance company up on getting a rental. And with my second car I wasn’t rushed into having to get a new car like yesterday if and when the insurance company kicked me out of the rental.
So my insurance company has paid for the new one I have coming in that I get to pick up at PEC this coming Friday. Thankfully I had total new car replacement on my policy.
I wish you and your wife all the best as you have to deal with this BS.
My poor turtle that I had since I bought my 2011 Q5 in the summer of 2010, lost his head.
I was sideswiped in my Boxster S several years ago. I took the car to a Porsche Certified body shop in Hickory, NC. They worked with State Farm - on my behalf - to get fair diminished value compensation for me. State Farm was quite cooperative in this process and negotiation.
Just a suggestion on avoiding all of this: Talk to your agent/insurance company about something called 'agreed value'. When your insure your cars you set a replacement value that is 100% (at least with my agent) up to you. You pay slightly more for this coverage but when you file a claim their is no discussion of the value. I had a tree fall on my Tundra and brand new Sprinter and both had 'agreed value'. They were hauled away and i got paid that agreed value in a week or so.
My Porsche was in the garage.
Not sure this will work for all insurance companies but it worked with Nationwide Private Client.
The tow hitches play hell on frames. I’ve seen similar happen to full size pickups...hitch takes the face shot and the frame is a pretzel underneath...truck gets totaled.
I know I am thinking out of the box here but I would definitely recommend to visit a doctor here and there for some evaluation and PT, then get doctors notes and submit them to the insurance company. This way you will be able to cover some of the depreciation due accident which could even be enough for a new cayenne turbo.
Raise hell about the diminished value once it's in a collision. Plead the fact that everybody looks at CarFax and if there's any indication of an accident it significantly diminishes the resale value. Example: I had an F150 pickup that a guy squeezed past me and clipped my mirror. No other damage to my truck. I bought and replaced the mirror for $150, no dealer involved. But, the police report said "Vehicle was side-swiped" and that's what showed up on CarFax. At trade-in, the dealer told me the truck would have been worth another $2,000 if it had a clean CarFax! Probably even more damaging for a high end car like a Porsche. The CarFax report will say "Rear end collision" and won't have any qualifiers like "minor damage", etc. That will cost you not only prospective buyers who won't even look at your car because the CarFax isn't clean, but will also cost you $$$ in trade-in or resale value. The more you shout, scream, holler, and threaten, the more you'll get. Threaten to get a lawyer and get one if necessary, the insurance companies hate that!
Oh I am so sorry and very glad to hear that your wife is OK.
I hate to bring this up but your insurance company might total your car.
This past May I was rear ended in my 2018 GTS waiting at a red light coming home from packing up my classroom. I had a F150 truck pushed into me from being rear ended himself. Like your pictures it didn’t look to bad. My body shop was ordering parts from the dealer and getting the parts in. 2 weeks later I get a call from the “total loss” guy in my insurance company and he tells me that they are totaling my car and that I needed to get them the title to the car like yesterday. I was shocked. I wanted to cry. Like others, I custom ordered my car, waited an extra month to pick it up at PEC. I asked the guy why, the last I heard the body shop was getting parts in from the dealer. He told me that when they took the bumper off they found structural damage. My old one had the factory installed tow hitch and that took the brunt of the damage, and even with the tow hitch taking most of the hit, the frame was still bent.
My friends were like buy the car from insurance company and fix it. I jokingly told the body shop that and the manager and my adjuster both said, don’t. They in the past have told people that the damage was not to bad and to buy the car and they could fix it. They both told me that with as much structural damage they found they wouldn’t touch my car. As much as I loved my GTS and heavens knows I loved it I wouldn’t feel safe driving it after it was fixed.
Thankfully I still had my little S5 convertible to drive until my new one could be built, so I didn’t take the insurance company up on getting a rental. And with my second car I wasn’t rushed into having to get a new car like yesterday if and when the insurance company kicked me out of the rental.
So my insurance company has paid for the new one I have coming in that I get to pick up at PEC this coming Friday. Thankfully I had total new car replacement on my policy.
I wish you and your wife all the best as you have to deal with this BS.
My poor turtle that I had since I bought my 2011 Q5 in the summer of 2010, lost his head.
Hey man, I'm so sorry to see and hear about this. My Macan is in a similar state. Happened yesterday and I found this forum to get an idea of what I'm facing. It's a 17 GTS with 115k. Based on yours being totalled, I have a pretty clear idea about what will happen with mine. Yikes.
Offering this in the FWIW category. I recently asked my State Farm agent what would happen valuation-wise if my 2015 Macan S with 103,000 miles were stolen or totaled in an accident. Here's his reply:
"If the Porsche were totaled or stolen State Farm will pay the market value of the car which is more than you would get if you went to trade it in [KBB puts the private party sale value of my car between $18k and $22k]. State Farm bases the valuation from various resources for used car values and State Farm is by far in my opinion the most generous insurance company in valuing a totaled vehicle.
About 2 years ago I had another client who had a brand new Porsche EV. She paid $140K for it. She then ran over a concrete median and damaged the front strut section. Porsche said they could repair the vehicle for $28K. State Farm Claims said to repair it would require additional support holes to be drilled into the body which would reduce the structural integrity of the strut section and cause serious injury if it failed. So State Farm wanted to total the vehicle. Porsche told the customer we were wrong. I told my customer if Porsche thinks they can fix it, will they buy it back from her at a normal depreciation charge or to equal value that they were selling any similar newer used Porsche vehicles? They said no and would not give her a valuation. I convinced her to take the SF offer and go by a hybrid. State Farm paid her $165K so she profited from the claim and bought a new Audi Hybrid. And about a year later Porsche had a recall on that model related to the struts."
11-14-2020, 11:12 AM
Brand new Macan rear-ended--anyone have any experience with a diminished value claim?
