It hurts me to have to even add this post. Two weeks ago, an inattentive Prius driver cut me off at an intersection attempting to make a right turn from the center lane. Long story short, she caused some real damage to my car. Luckily, no one was hurt. Her insurance rightly accepted liability. Now my baby is in the shop, and is expected to take 2-3months to repair.
Now that I know this, I'm looking into getting reimbursement for the monthly payments I will be making for an unusable car and the diminished value of the car. Has anyone had any experience with this. I thought I'd run it by you guys before going further. A few things to take into account:
1) It's a leased car. Does that change things? Sadly, I was hoping to purchase the car at the end of the lease but unlikely at this point.
2) Should I wait until all repairs are done. California allows three years for the claim. I'm worried that any earlier, and the other insurance company may want to refuse the blame for the accident and make it more difficult.
3) If you've been through this, did you just contact the other driver's insurance directly or did you go straight to a lawyer.

Anyways, thanks for the advice. The most annoying thing is not having my car to drive right now.

 

Sorry about the accident. Good news is that the damage isn't anything that can't be fixed to as good as new. Doesn't look bad. Why the long wait to get fixed?

I can't imagine the damage that could be had with getting rear ended. The bumper reinforcement in the rear is good, but still with a hard hit it could get ugly really quick.

 

Waiting at a stop light and I got rear ended (in my ML) by a Hummer when she never slowed down while looking at her phone!

Good thing it wasn't the 911!

 

The wait time is a bit perplexing to me too. The body shop I'm using is the one recommended by the dealer. They have reviews for great work but being slow. They also said each time the insurance agent has to come and look at the work takes 3-5 days (and they said this happens 3-4 times). Also throw in the holiday season. Basically, I think they are just slow.
Ouch on that hummer damage to your ML. If that hummer rear ends a 911, consider it totaled. That little bit of damage in my picture is going to be at least a $30k fix. That girl's insurance premium is going to take a beating.

 

A new bumper, quarter panel, and wheel is like a 2 week job and that's juggling it with other work. It's a simple fix.

The insurance company comes at the beginning to determine the coverage and approve, and the end to sign off.

Something isn't jiving up here. 3 months they can take the whole car apart and put it back together.

 

shaytun,

I been through two accidents with my previous M3's and won diminished value awards both times. I live in CA. The insurance company (low balled me) and only offered about 25% of what I got by going to small claims court ~$5k. Total repair damage to each car was about $8k.

Go to the porsche dealer and get a appraisal value for before and after the damage. Wait until the car is fixed. Send it to the insurance company and tell them to pay it and if they don't you'll take them to court. If you go to court also get a independent appraisal so you have 2 estimates for the judge. If the accident voided the future CPO of the car that will raise your recovery $.

I did own both M3's but a leased car changes your financial decision/position so it's still a monetary loss for you. The insurance co. must make you whole by law. It's a bit of work, file forms, got to court etc... You will probably come out $4-5k ahead so if that's worth your time then go for it. No lawyers it's easy to do by yourself.

It's also your right to a rental car of equal value to the car in the shop. If you rent a toyota then the you will get the diff.

Good luck. Hope this helps...

 

That's very helpful. Thanks.

 

You are probably right. I'm going to discuss it with them next week.

 

I'd do that or find someone else. Look at all the work I've done on my car. I have a very good grip on what is involved and how long things take.

3 months is almost embarrassing that someone would even quote that unless they're so backed up they just want you locked in and have you wait forever.

https://www.6speedonline.com/forums/...s-project.html

 

Definitely do all of the above. But also make a claim for rental car reimbursement instead of seeking reimbursement for your monthly car payments. I had a similar situation happen to me a couple months ago (my daily driver was sideswiped by a trailer while I was stuck at a red light). Basically your rental car reimbursement will be for a rental similar to your damaged vehicle...which for a Porsche 911 will be a tidy sum. This is the 'lost use' portion of your claim. Get a couple emailed quotes from local luxury car rental places and inform their insurance company that the meter is running at $x per day (from the date of the accident) while they're processing your claim and your car is getting fixed. In my situation it was for a replacement hybrid car (which aren't cheap to rent...but a 911-equivalent rental would be multiples more to rent...at least $150-250/day, which over 2-3 months becomes a very significant number).

Long story short - the insurance company ended up paying not only the repair costs but also the rental car reimbursement and diminished value (which I proved up via an online diminished valuation service while 'offering' to supply additional valuations from local in-person valuation companies and reminding that they'd be on the hook for those fees as well, which run ~$250 each). Just send their insurance company a spreadsheet that breaks down the various portions of your claim - (1) itemized repair cost from Porsche dealer, (2) diminished valuation report, and (3) equivalent rental car reimbursement for duration of repairs/claim, and separately attach a PDF of all the quotes/etc supporting each number in your spreadsheet.

At least here in Texas the other insurance company was very quick to pay up when facing an informed claimant...in my case, the final settlement was more than 3x their initial offer. They do, in the end, have to make you whole...which can also include lost income (or used vacation time) related to dealing with the claim, taking time off work to go to/from the repair shop, etc. Also, do everything you can by email rather than phone calls so that you have a written record of your settlement offer(s) and the documentation you provided. In the event that it goes to court, this kind of record often supports a subsequent claim for attorney fees as well, which they really don't want to pay as those can spiral quickly out of control (so let them know on the front end that if they become intransigent to your documented settlement request that you'll be seeking attorney fees as well).

Best of luck.

 

Thanks. So did you actually get the rental car or just used the quote?

 

The traditional measure of damage to personal property such as a car is the cost of repairs or the difference between fair market value before and after the accident - all plus he cost of replacement transportation until car fixed or replaced. That said, I know of no jurisdiction which provides for diminution of value after the car is repaired.

 

1) Sorry about your accident
2) Glad everyone is okay
3) Have car fixed ASAP. 3 months is crazy
4) Get paid for your rental
5) Drive the snot out of the car when returned to glory
6) Make remaining payments
7) Turn car in at lease expiration

I can't see how you can get diminished value on a car you don't own.

 

Article on insurance...see page 16 & 17 from BMWCCA Puget Sound
Magazine "Zundfolge" May/June 2013. ↓↓↓


http://www.bmwpugetsound.com/wp-cont...013_wlinks.pdf

 

If the car is leased, legally speaking, the loss in diminished value is to the owner, that is the leasor. That's why a lot of leases include a provision for gap insurance for events such as this. If you end up buying out the car, then you'd have a claim you're entitled to, but then the questions becomes, "why would you?"

This isn't meant to be legal advice, but you should double check the local laws in your jurisdiction.

Richard