Had an Altercation Today

[JayG]

Originally Posted by BIGJake111

already done a while back, but the 5k is not my cars value, it is how much they want to spend to fix my car, they claim 5k is half of what it is worth which i am pretty happy with them saying value is 10 to 11. however, i am not wanting to deal with depreciation and such of having a car fixed with this much damage, sending it to a shop that works with porsches and such often and will properly appraise the car, then hopefully it will be totalled.

Tell them the $5k is for the wheels, tires and top. What about the rest of the car?.

They are low balling you, probably based on wholesale blue book. They need to give you full replacement cost and on top of that you should get compensated for loss of use as well as the hassle you have gone through. Generally they should give you a grand or two over replacement cost. Remember replacement cost is what another Boxster comparable to what you lost costs, not book value.

If you had been at fault, the ins company might have to only give you book value, but since. You were not at fault, it is different.

Also be sure you don't sign anything absolving the other party of liability until you are made completely whole. You can always take the other party to small claims for the amount over what the ins company finally gives you to replace your boxster with a comparable one

[Timco]

Originally Posted by JayG

Tell them the $5k is for the wheels, tires and top. What about the rest of the car?.

They are low balling you, probably based on wholesale blue book. They need to give you full replacement cost and on top of that you should get compensated for loss of use as well as the hassle you have gone through. Generally they should give you a grand or two over replacement cost. Remember replacement cost is what another Boxster comparable to what you lost costs, not book value.

If you had been at fault, the ins company might have to only give you book value, but since. You were not at fault, it is different.

Also be sure you don't sign anything absolving the other party of liability until you are made completely whole. You can always take the other party to small claims for the amount over what the ins company finally gives you to replace your boxster with a comparable one

Full replacement compensation is a special type of policy. Otherwise it's BB value and comps. He is definitely being low balled and it's disgusting.

You are owed BB plus any other losses or comp value (comp value includes performance mods) or dime for dime what the exact repair costs. If they don't want to pay top BB value due to new top and such, and they are not even asking what the ACTUAL repair estimate is, attorney time. Ask them where in the hell they came up with half of the total value as the repair cost!! I've never seen a body shop say gee, let's just say half of the car's cost. There's going to be a real number associated with fenders, door, paint, rim, BB value loss for a collision being listed on Carfax and more. Ask them what, is this a game show ?? Am I speaking to Monty Hall????

[JayG]

Originally Posted by Timco

Full replacement compensation is a special type of policy. Otherwise it's BB value and comps. He is definitely being low balled and it's disgusting.

You are allowed BB plus any other losses or comp value (comp value includes performance mods) or dime for dime what the exact repair costs. If they don't want to pay top BB value due to new top and such, and they are not even asking what the ACTUAL repair estimate is, attorney time. Ask them where in the hell they came up with half of the total value as the repair cost!! I've never seen a body shop say gee, let's just say half of the car's cost. There's going to be a real number associated with fenders, door, paint, rim, BB value loss for a collision being listed on Carfax and more. Ask them what, is this a game show ?? Am I speaking to Monty Hall????

With all due respect Timco, since the other party is 100% liable, Jake does get replacement cost. He has suffered a loss that was not his fault and should be made whole. Perhaps outside of Calif it is different, but I suspect not.

[shadrach74]

Originally Posted by JayG

With all due respect Timco, since the other party is 100% liable, Jake does get replacement cost. He has suffered a loss that was not his fault and should be made whole. Perhaps outside of Calif it is different, but I suspect not.

^^^^This

I covered it in the other thread and Jay has it here. There is no legal president for an individual to accept an arbitrary general calculation in a liability situation. "Special" policies that pay replacement cost are for "collision" claims. This is liability. and that means the innocent party is made whole... as in as good as he was was before...not "close enough"... not my arbitrary NADA calculation says this so here you go... not any of that. Jake should get the replacement value of the car plus any expenses he incurred as a result of the accident.

[Timco]

Originally Posted by shadrach74

^^^^This

I covered it in the other thread and Jay has it here. There is no legal president for an individual to accept an arbitrary general calculation in a liability situation. "Special" policies that pay replacement cost are for "collision" claims. This is liability. and that means the innocent party is made whole... as in as good as he was was before...not "close enough"... not my arbitrary NADA calculation says this so here you go... not any of that. Jake should get the replacement value of the car plus any expenses he incurred as a result of the accident.

I can understand this. I've never had a car totaled and was backed into one time.

So who decides if it gets fixed for $6k (hypothetically) or replaced for $12k? Not sure you can insist it be totaled?

[BIGJake111]

Originally Posted by Timco

I can understand this. I've never had a car totaled and was backed into one time.

So who decides if it gets fixed for $6k (hypothetically) or replaced for $12k? Not sure you can insist it be totaled?

In south carolina, repairs exceed 75% of the value, apparently the insurance company wants my car to be worth 10 when its not totaled but watch once it is they will be saying my car is worth 7 haha.

[shadrach74]

Originally Posted by BIGJake111

In south carolina, repairs exceed 75% of the value, apparently the insurance company wants my car to be worth 10 when its not totaled but watch once it is they will be saying my car is worth 7 haha.

Many companies use 50% if there's a chance of hidden damage. Insurance companies do not like to pay for exploratory surgery, nor do they like to start a repair only to discover hidden damage that jacks the price another 20 percent (which is easy with a $10000 Porsche).