Crashed the Spyder today....
#16
Banned
Join Date: May 2008
Location: Arlington Heights, IL
Posts: 7,299
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WOW! Sorry to see this damage. Glad you're OK. She protected you pretty well. Thank, God.
How did this accident happen?
So, it's leased. If totaled, you might be needing gap insurance to come out whole.
How did this accident happen?
So, it's leased. If totaled, you might be needing gap insurance to come out whole.
#18
GAP insurance is for paying the difference between what the insurance company will pay you if your car is totaled, and the amount you owe on the car.
For example, you financed $65k on the car, and the coverage you get only covers $60k if the car is totaled, you are responsible for the $5k difference. GAP insurance is an option to cover the "gap".
For example, you financed $65k on the car, and the coverage you get only covers $60k if the car is totaled, you are responsible for the $5k difference. GAP insurance is an option to cover the "gap".
#19
Drifting
Also, not sure how often you deal with insurance matters, but the term "full coverage" is often misleading to consumers. People often do not realize that even with full coverage you may not have enough insurance to deal with certain issues. I work in an industry with lots of auto insurance claims and you would be surprised how many people think they have enough coverage to pay certain things because and agent told them they have "full coverage." Frequently, they are shocked to learn that they really don't have enough coverage. Once everything is sorted out you might want to take a very close look at the options on your policy to make sure you really have enough coverage. I can only tell you that I've seen plently of people foolishly shaving off maybe $20-50 their an annual premium, sometimes at the suggestion of an agent trying to save or retain business, only to later learn after an accident that they removed or reduced important coverage options.
Sorry about the car. But I'm glad to hear no one got hurt, thats the most important thing!
#20
Banned
Join Date: May 2008
Location: Arlington Heights, IL
Posts: 7,299
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Received 11 Likes
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GAP insurance is for paying the difference between what the insurance company will pay you if your car is totaled, and the amount you owe on the car.
For example, you financed $65k on the car, and the coverage you get only covers $60k if the car is totaled, you are responsible for the $5k difference. GAP insurance is an option to cover the "gap".
For example, you financed $65k on the car, and the coverage you get only covers $60k if the car is totaled, you are responsible for the $5k difference. GAP insurance is an option to cover the "gap".
People buying and leasing, high value cars, with little or no downpayment, should consider Gap Insurance, to protect themselves in these potential situations.
I would assume the Gap Insurance could be dropped at a later date, once they are not "upside down" on the financials.
#21
Drifting
Excellent response & info.
People buying and leasing, high value cars, with little or no downpayment, should consider Gap Insurance, to protect themselves in these potential situations.
I would assume the Gap Insurance could be dropped at a later date, once they are not "upside down" on the financials.
People buying and leasing, high value cars, with little or no downpayment, should consider Gap Insurance, to protect themselves in these potential situations.
I would assume the Gap Insurance could be dropped at a later date, once they are not "upside down" on the financials.
#23
$895 for airbag..ouch... at least it is not totalled ! that's the good news ! I wonder how long it will take to get it back on the road... you did not say how you ended up under a prius ?
#25
Race Director
Mechanical labor rate looks too low to be Porsche dealer techs doing the mechanical work. My experience is you do not want a body shop doing the mechanical work on your Porsche.
Also, according to Porsche Approved Collision Center Program which the shop should be that is repairing your car BTW, should be using one of the PACC paint systems: Spies Hecker, Standox, or Glasurit.
If the car needs straightening -- and it should be checked to verify all hardpoints are in the proper place -- PACC recognizes Celette Bench or Car Bench. No other "benches' are recognized.
Also, Porsche does not publish hardpoint location tolerances. Celette (or Car) provide (rent usually) appropriate jig/fixtures that a body shop uses to check hardpoint locations.
Many body shops skip the above step cause bench time and jig/fixture rental is sometimes not approved by the insurance company. But PACC shops should insist and do this step to ensure the car's straight.
And this means not only the drivetrain, steering or suspension hardpoints, but the hardpoints the body panels attach to like teh bumper cover, the fender, and so on. That these points are properly positioned ensures the new body panels will fit with a gap/fit that is indistinquishable from factory.
I see another poster commented on the price of an airbag. When my Cayman S was hit both driver and passenger airbags went off. When the passenger air bag goes off it destroys the dash. $895 for an airbag is one thing. $2000+ for a new dash is another...
Sincerely,
Macster.
Also, according to Porsche Approved Collision Center Program which the shop should be that is repairing your car BTW, should be using one of the PACC paint systems: Spies Hecker, Standox, or Glasurit.
If the car needs straightening -- and it should be checked to verify all hardpoints are in the proper place -- PACC recognizes Celette Bench or Car Bench. No other "benches' are recognized.
Also, Porsche does not publish hardpoint location tolerances. Celette (or Car) provide (rent usually) appropriate jig/fixtures that a body shop uses to check hardpoint locations.
Many body shops skip the above step cause bench time and jig/fixture rental is sometimes not approved by the insurance company. But PACC shops should insist and do this step to ensure the car's straight.
And this means not only the drivetrain, steering or suspension hardpoints, but the hardpoints the body panels attach to like teh bumper cover, the fender, and so on. That these points are properly positioned ensures the new body panels will fit with a gap/fit that is indistinquishable from factory.
I see another poster commented on the price of an airbag. When my Cayman S was hit both driver and passenger airbags went off. When the passenger air bag goes off it destroys the dash. $895 for an airbag is one thing. $2000+ for a new dash is another...
Sincerely,
Macster.
#28
Rennlist Member
Thread Starter
Thanks for the info Macster. The work is being done at Superior Auto Body in San Carlos which is a PACC, apparently one of 22 in the country they told me. This is also where Carlsen recommended I get the repair work done.
#29
Race Director
From what I read in your post, it would appear Porsche has moved forward and shops are getting certified.
(Just this AM received an email from a friend who's working at another PACC shop in the north bay.)
Remember in CA we can take the car where ever we want and the car is expected to be repaired as good as humanly possible.
I'd state in a letter to the body shop and Carlsen that you expect these two businesses to work together to ensure the car is fixed properly, as good as humanly possible, so the car suffers no loss of value, the new car warranty remains in effect over the entire car, and when the car is turned in at lease end its residual value is unaffected.
Sincerely,
Macster.