Soooo….I got clipped last week, diminished value questions, etc.

[Fsudoles]

All,

So an overanxious driver wanted to change lanes when I was standing still in traffic and clipped my left rear bumper behind the left rear wheel well, and also scraped my rim. This whole insurance/repair process is a major PITA. I received the police report yesterday and it clearly states that the vehicle/driver that struck me was operating their vehicle in a careless/negligent manner. The reporting officer also stated in his report that she was at fault. Unfortunately, the individual that hit me won’t speak to her insurance company so Geico is refusing to accept liability responsibility, at least to date. That said, after I work though this unctuous appraisal/repair process, is it worthwhile to hire an attorney to chase diminished value as well as the cost of driving a replacement vehicle similar to my vehicle during the repair process? The vehicle will definitely have a CarFax accident so I realize what that means in the future, and it’s not great. I baby this car…this all sucks.

Any thoughts or suggestions would be greatly appreciated….

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[ClubIsolation]

I’m very sorry to hear about this. I don’t have much value to add. Just that if you love your car, the parts you care about are all the stuff that isn’t a rim or plastic bumper cover. Those can be fixed/replaced and your car will still be as good as ever.

as for diminished value, I’d say it shouldn’t impact much, but Porsche guys are the most anal I’ve ever seen. I’ve sold a 250k Lamborghini to a guy unseen before, no issue, and then sold a 99 Porsche Boxter for a client and everyone who came to look at that $6,500 car looked at the edges under black light. Porsche people are NUTS.

 

[Jayyvr890]

Sorry I don't know how insurance works in America but since there was a collision and the police was involved, can't your just go through your insurance for everything? Including diminished value? Is the other person in-insured?

 

[Cajun Martyni]

Sorry to hear it. Carfax will probably devalue your car 10-15%. It’s a pain to deal with it but this is the only time you can do so. How it works varies state-by-state. In my experience you get diminished value from the other driver’s insurer. Your insurance normally excludes it. They won’t want to pay it to you and will fight you on the amount. But they do pay it, when pressed. Their bet is that it’s not worth the time and effort for you to pursue it. Do you have a friend or relative who is an attorney and who doesn’t mind scrapping with insurers.

 

[Fsudoles]

I’m very sorry to hear about this. I don’t have much value to add. Just that if you love your car, the parts you care about are all the stuff that isn’t a rim or plastic bumper cover. Those can be fixed/replaced and your car will still be as good as ever.

as for diminished value, I’d say it shouldn’t impact much, but Porsche guys are the most anal I’ve ever seen. I’ve sold a 250k Lamborghini to a guy unseen before, no issue, and then sold a 99 Porsche Boxter for a client and everyone who came to look at that $6,500 car looked at the edges under black light. Porsche people are NUTS.

Thank you for the reply. I’m thinking about a 2025 Electric Cayman, but there’s a lot that needs to happen before that would occur. They won’t be able to CPO what will be an extremely low mileage Taycan since it has had a bump, so I’m just trying to figure this all out.

 

[Fsudoles]

Sorry I don't know how insurance works in America but since there was a collision and the police was involved, can't your just go through your insurance for everything? Including diminished value? Is the other person in-insured?

Hi, yes, I have quality insurance and I’ve initiated a claim, but State Farm (my company) does not have any Porsche approved collision facilities in their group. I could be on the hook for any labor/parts cost overages. I’m going after Geico, I wasn’t at fault. State Farm is my parachute. Thank you for responding.

 

[Fsudoles]

Sorry to hear it. Carfax will probably devalue your car 10-15%. It’s a pain to deal with it but this is the only time you can do so. How it works varies state-by-state. In my experience you get diminished value from the other driver’s insurer. Your insurance normally excludes it. They won’t want to pay it to you and will fight you on the amount. But they do pay it, when pressed. Their bet is that it’s not worth the time and effort for you to pursue it. Do you have a friend or relative who is an attorney and who doesn’t mind scrapping with insurers.

Thanks for the feedback, no lawyers at arms reach so I would be on my own, but I may try to see about contingency alternatives. Ugh. 10 to 15% for that, painful.

 

[WasserGKuehlt]

Ugh. 10 to 15% for that, painful.

I don't think it's automatic, and if you have the backing photos and inspection documenting the minor damage it may amount to nothing at all. The problem with having an accident on record is that some potential buyers would exclude it automatically, and it takes longer for the right buyer to materialize.

 

[JS4S]

Your insurance should only be involved if the person that hit you is uninsured or underinsured. The person that hit you is liable for all damages.....regardless of wether or not they have an "approved" body shop. It is your choice as to were the repairs are completed and you have the right to OEM parts. If the person's insurance is giving you the run around or trying to deny anything......Call your agent. They are obligated to pay the claim if the other agency denies or is making demands. They are required to make you whole. Your insurance agent will then contact the other agency on your behalf......

If your insurance does have to get involved....You may have some restriction depending on your uninsured or underinsured coverage. Though generally it mimics your policy limits/terms.

I would urge anyone that has a need for insurance to switch from one of the large captive agents to an independent agent. Though I've never been an insurance agent....I did pass the Home/auto/commercial insurance exam.....Long story.

Stay in contact with your agent. Read your policy. Happy to answer any questions that I can. Maybe there is a an actual agent on here that is willing to chime in??

 

[JS4S]

I don't think it's automatic, and if you have the backing photos and inspection documenting the minor damage it may amount to nothing at all. The problem with having an accident on record is that some potential buyers would exclude it automatically, and it takes longer for the right buyer to materialize.

Spot On.....big difference between cosmetic and structural repairs.

 

[Fsudoles]

Your insurance should only be involved if the person that hit you is uninsured or underinsured. The person that hit you is liable for all damages.....regardless of wether or not they have an "approved" body shop. It is your choice as to were the repairs are completed and you have the right to OEM parts. If the person's insurance is giving you the run around or trying to deny anything......Call your agent. They are obligated to pay the claim if the other agency denies or is making demands. They are required to make you whole. Your insurance agent will then contact the other agency on your behalf......

If your insurance does have to get involved....You may have some restriction depending on your uninsured or underinsured coverage. Though generally it mimics your policy limits/terms.

I would urge anyone that has a need for insurance to switch from one of the large captive agents to an independent agent. Though I've never been an insurance agent....I did pass the Home/auto/commercial insurance exam.....Long story.

Stay in contact with your agent. Read your policy. Happy to answer any questions that I can. Maybe there is a an actual agent on here that is willing to chime in??

Thank you….State Farm (my insurance provider) is willing and able to process the claim….but per the discussions I’ve had during this process, they are very difficult for the Porsche approved shops to deal with, nickel and dime sorta stuff, and they take their sweet time to come review possible supplemental discoveries found during the repair process. To be honest, I don’t want them involved for several reasons….those listed above, a deductible payment and 20% of my replacement vehicle during repairs, none of which were caused by my malfeasance….if I can avoid all of that, I’m going that route.

 

[Fsudoles]

Spot On.....big difference between cosmetic and structural repairs.

Thanks Jim, I’m keeping all photos, estimates, repair bills etc. for the length of time I own the vehicle. If I go the diminished value recovery route, I’m going to get the post repair estimate from where I bought this car and where I will likely buy my next car…hopefully that may mitigate the future loss…but no CPO status, in spite of low mileage and excellent condition…which sucks.

 

[Redhot2474]

Once you get a police report , carfax is “dinged”, check with your insurance company about diminished value. I got compensated handsomely with Amica when my wife’s macan got hit.

 

[Archimedes]

Hi, yes, I have quality insurance and I’ve initiated a claim, but State Farm (my company) does not have any Porsche approved collision facilities in their group. I could be on the hook for any labor/parts cost overages. I’m going after Geico, I wasn’t at fault. State Farm is my parachute. Thank you for responding.

F that. That’s State Farm’s problem. If you have collision insurance, State Farm should be paying you and it’s their responsibility to go after GEICO. That’s why you pay for collision insurance. You may have to lay out for your deductible temporarily until they collect, but that’s it. And Porsche facilities aren’t in their group? Wtf does that mean? There is no group. They insured your car and you have the right to get it repaired where you want.

I’ve been a GEICO customer for 30 years, with multiple claims and it always went that way. They paid me and then they went after the other party.

 

[Jrkennedy37]

Thank you….State Farm (my insurance provider) is willing and able to process the claim….but per the discussions I’ve had during this process, they are very difficult for the Porsche approved shops to deal with, nickel and dime sorta stuff, and they take their sweet time to come review possible supplemental discoveries found during the repair process. To be honest, I don’t want them involved for several reasons….those listed above, a deductible payment and 20% of my replacement vehicle during repairs, none of which were caused by my malfeasance….if I can avoid all of that, I’m going that route.

Not sure if it was already said but you’d be dealing with Geico, not State Farm. State Farm will put the pressure on the other insurance company (since they do not want to pay for repairs and the police report states fault clearly) but once the repair is initiated and fault rightly assigned then State Farm should not longer be involved. You should not have to pay a deductible either.

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