Porsche 944 Engine Fire

[thstone]

Originally Posted by BYprodriver

I'm thinking Mr. Stone is going to be giving them problems!

We, ah.... worked it out with the insurance company.

Their first offer was $8,800. I countered at $18,000. They did what all insurance companies do and lied.

First, they said that a 944 base (which they used for valuation) was the same as a 944 Turbo. Not true. That is like saying that a Boxster base is the same as a Boxster S.

Second, they said they would only use "local" comps. Not true.

Third, they said that they would only use comps within 1 model year. Not true.

Fourth, they said that they could only add value for the cost of the actual replacement engine but not any of the labor. Not true.

At the end of several back and forth discussions, we settled at $15,200.

[Porsche9]

Originally Posted by thstone

We, ah.... worked it out with the insurance company.

Their first offer was $8,800. I countered at $18,000. They did what all insurance companies do and lied.

First, they said that a 944 base (which they used for valuation) was the same as a 944 Turbo. Not true. That is like saying that a Boxster base is the same as a Boxster S.

Second, they said they would only use "local" comps. Not true.

Third, they said that they would only use comps within 1 model year. Not true.

Fourth, they said that they could only add value for the cost of the actual replacement engine but not any of the labor. Not true.

At the end of several back and forth discussions, we settled at $15,200.

Good for you! The car was worth ever bit of $15k.

I've seen it go the other way too. My daughter had her 2006 totaled and they offered $13,500 for it. I did my research and figured it was worth $10,500. We had paid $16,500 for it 4 years prior and had put over 50k on it. We quietly took their money.

[thstone]

Originally Posted by Porsche9

I've seen it go the other way too. My daughter had her 2006 totaled and they offered $13,500 for it. I did my research and figured it was worth $10,500. We had paid $16,500 for it 4 years prior and had put over 50k on it. We quietly took their money.

Glad that you had a good experience with the insurer! Sure makes life a lot easier/happier after losing a car.

[seningen]

Originally Posted by thstone

We, ah.... worked it out with the insurance company.

Their first offer was $8,800. I countered at $18,000. They did what all insurance companies do and lied.

First, they said that a 944 base (which they used for valuation) was the same as a 944 Turbo. Not true. That is like saying that a Boxster base is the same as a Boxster S.

Second, they said they would only use "local" comps. Not true.

Third, they said that they would only use comps within 1 model year. Not true.

Fourth, they said that they could only add value for the cost of the actual replacement engine but not any of the labor. Not true.

At the end of several back and forth discussions, we settled at $15,200.

Classic insurance BS

Be interesting to see what it fetches.

Probably a few $k in parts needed depending how much the fire was contained.

M

[Xpit77]

Originally Posted by thstone

We, ah.... worked it out with the insurance company.

Their first offer was $8,800. I countered at $18,000. They did what all insurance companies do and lied.

First, they said that a 944 base (which they used for valuation) was the same as a 944 Turbo. Not true. That is like saying that a Boxster base is the same as a Boxster S.

Second, they said they would only use "local" comps. Not true.

Third, they said that they would only use comps within 1 model year. Not true.

Fourth, they said that they could only add value for the cost of the actual replacement engine but not any of the labor. Not true.

At the end of several back and forth discussions, we settled at $15,200.

Actually there are 3 models. Base ( single cam ) S ( twin cam n/a ) and the S Turbo.

[itsnotanova]

Winning bid was $2750.