![]() |
|
Porsche, and the Porsche crest are registered trademarks of Dr. Ing. h.c. F. Porsche AG.
This site is not affiliated with Porsche in any way. Its only purpose is to provide an online forum for car enthusiasts. All other trademarks are property of their respective owners. |
|
![]() |
bradtho |
![]()
Post
#1
|
Member ![]() ![]() Group: Members Posts: 266 Joined: 22-December 09 From: Seattle, WA Member No.: 11,165 Region Association: None ![]() |
I got hit recently. the other drivers insurance has accepted full liability (yay!) but now they are trying to declare my car a total loss.
the good news: - they aren't arguing condition, they are categorizing it excellent - we're in the ballpark, they are valuing it at about the amount of the repair estimate, $22k the bad news: - they still want to total it I don't want to allow it to be totaled because if I buy it back and repair it and am hit again I figure it really hurts my value for the next claim (which hopefully never happens, but...). I can find plenty of threads on choosing an insurance provider, but didn't find much on arguing value. So - any tips/help with establishing value for cars that are in excellent shape? - any tips/help for strategy on fighting (and winning) with one of the major insurance providers? I'm looking to collect comps in the $28k+ range (since that's what I need to avoid the total declaration). And yes, I've got the recent $93k car from monterery! I'm also looking into lawyer options, figuring that can't hurt. Not sure how to go about finding a good lawyer to help with an unusual car value. any help appreciated. ![]() |
![]() ![]() |
Mikey914 |
![]()
Post
#2
|
The rubber man ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() Group: Members Posts: 12,679 Joined: 27-December 04 From: Hillsboro, OR Member No.: 3,348 Region Association: None ![]() ![]() |
Bradtho, I not an expert, but.......there's a statement in all insurance policies that says (THEY HAVE TO MAKE YOU WHOLE), which means what is the real replacement value.......If you tried to buy (replace) your 914 with nothing less than you have...what is that price. Is it 22k or29k. If it is 29k then your good. I used this over the last 30 years with two small accidents I had...first one was with a Saab (it was totaled) Insurance was only willing to pay $4,500 when it was worth $6,500. To prove this to the insurance company I did all the leg work to find a replacement Saab, same year and miles. Guess what, the price to $6,800. They sent a check for 6,800. The second was last year. My 2000 VW TDI with 400,000 miles was totaled. Insurance again said it was worth 2,000. Yup, high miles but well maintained with new injectors, timing belt, new trans., etc. Showed them replacement cost would be 5,000. I agreed on 4,500 and also removed the new transmission. So, go find a car as nice as yours and use that for leaverage. Best, Mark This will work itself out eventually. They have taken responsibility. I'm assuming you are in a loaner. Costs go up daily for them time is on your side. The case is simple, be reasonable. You need to replace the vehicle with one equal to or better than. They will not be able to. I'd put your value over 35k and then you will not find an exact equal. Just a different version. You can be reasonable as long as they are. If they can't resolve this to your satisfaction you can bring in a attorney. Most will do a free consult (check with the WA Bar association for a list) it may cost your $500 for a letter, but most adjusters make money buy diminishing your claim so this a negotiation as simple as that. You need to be made WHOLE. |
![]() ![]() |
![]() |
Lo-Fi Version | Time is now: 20th June 2024 - 08:55 AM |
All rights reserved 914World.com © since 2002 |
914World.com is the fastest growing online 914 community! We have it all, classifieds, events, forums, vendors, parts, autocross, racing, technical articles, events calendar, newsletter, restoration, gallery, archives, history and more for your Porsche 914 ... |