Are you going to file a diminished value claim?
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On the plus side, my insurance company has stated I was totally not at fault
LMAO
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And the day was going so well...
- Thread starter Nathan Smith
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- Driving Dynamics Model S
Are you going to file a diminished value claim?
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LMAO
GDH,
I do plan to pursue that. I'm just letting the initial process work its way through and then address that. I was reading up on it here: Pennsylvania Diminished Value | Diminished Value Car Appraisal (for me being in PA).
I do plan to pursue that. I'm just letting the initial process work its way through and then address that. I was reading up on it here: Pennsylvania Diminished Value | Diminished Value Car Appraisal (for me being in PA).
:crying:
26 working days... For those counting, that's like July. Mid-to-Late July. And that assumes parts not being delayed. Since it's the other drivers insurance company paying for this, cost not so important -- but it's an estimated $25K. Parts list is like 4 pages long.
Guys at karosserie have been very friendly -- and have promised to provide pictures as the work progresses. So, I post them as they come.
26 working days... For those counting, that's like July. Mid-to-Late July. And that assumes parts not being delayed. Since it's the other drivers insurance company paying for this, cost not so important -- but it's an estimated $25K. Parts list is like 4 pages long.
Guys at karosserie have been very friendly -- and have promised to provide pictures as the work progresses. So, I post them as they come.
Look at it this way: after that much time driving something else, you will have gotten accustomed to the other car and will no longer be used to your Model S. On that day when when you pick it up (perfectly restored), it will be almost as exciting and new and different as the first time you drove it.
25 Working days... NeverEnough, I will just be excited to have it back.
To help the days go by - maybe I can get some help with something. I plan to file a diminished value claim, as has been mentioned by GDH. Steps seems pretty straightfoward. Identify value before accident, identify value after accident, make claim. Seems simple enough - except what would one base these numbers on? How many accident repaired Tesla cars are out there to base an estimated value on? Even figuring a used Tesla isn't that straight forward given the limited number of these vehicles. I could hire *experts* to do this - but I would want to know what I got back was reasonable. So, what are peoples thoughts.
To help the days go by - maybe I can get some help with something. I plan to file a diminished value claim, as has been mentioned by GDH. Steps seems pretty straightfoward. Identify value before accident, identify value after accident, make claim. Seems simple enough - except what would one base these numbers on? How many accident repaired Tesla cars are out there to base an estimated value on? Even figuring a used Tesla isn't that straight forward given the limited number of these vehicles. I could hire *experts* to do this - but I would want to know what I got back was reasonable. So, what are peoples thoughts.
Insureit1
Member
I have some experience with this (and while I am licensed in PA I do not know this provision well enough to comment specifically about PA) in Maryland having dealt with multiple companies regarding diminished value as an agent and consumer. Much of it depends in the insurance company you are dealing with. In my experience in Maryland, Allstate was quick to pay and actually sent a second adjuster out to work on the diminished value calculation. They came back with a number and I asked for $500 more and got it. GEICO on the other hand was horrible to deal with (from the insurance company side they usually are but that is another story). They refused to even consider the DV claim and I ended up having to file suit in court. Once I did that they got an attorney to contact me and after six months of back and forth they finally agreed to pay me $2800 DV. This was for a 1994 Porsche 968 with very low mileage and a market value around $20k so I got a little more than 10% for DV. They key for me with the GEICO claim was PROVING that GEICO had paid DV claims in the past. I also provided a bunch of articles about the value of cars with and without prior accident damage. You MUST be persistent and realistic with want you want. With GEICO they originally offered $1000 I asked for $4k (20% of the market value) and ended up at $2800.
A friend of mine who is a car dealer and deals with many trade ins uses this rule of thumb:
- 50% of the cost of the repair is the diminished value. This is if the repair is done properly and is not noticeable. If not done properly then the diminished value can go up to or exceed the cost of the repair.
When I lived in Texas I used this same rule of thumb when getting DV payouts from the insurance company and generally had no issues. Allstate and State Farm were the insurance companies for the other driver who had to pay for the repairs.
One other point to consider: I had a Volvo S70 that T-boned another car when the driver ran a red light. The other driver was at fault. The estimate was for the entire front clip, radiator, and other misc. front parts.
- However, the sun roof had popped out and the trunk lid also didn't fit correctly. Further research revealed that on that car, the entire structure absorbed the energy from the crash, all the way to the rear. The accident had literally "sprung" the entire car. The body shop said they could fix the sunroof and trunk lid to seat properly. I contacted Volvo and they said the entire structural integrity of the car had been compromised. So although it may look ok, in a subsequent collision the car would not perform as well. Since the "bundle of rights" explicit in purchasing a Volvo was the safety aspect, and that was now comprised, the car was worth considerably less. More information on post accident structural integrity is available on the Volvo and MB sites. That may apply to the Tesla's safety also being compromised here.
- The model was just introduced so there were literally no used versions on the market for an undamaged price comparison.
The insurance company, once they saw all this information, scrapped the car.
- 50% of the cost of the repair is the diminished value. This is if the repair is done properly and is not noticeable. If not done properly then the diminished value can go up to or exceed the cost of the repair.
When I lived in Texas I used this same rule of thumb when getting DV payouts from the insurance company and generally had no issues. Allstate and State Farm were the insurance companies for the other driver who had to pay for the repairs.
One other point to consider: I had a Volvo S70 that T-boned another car when the driver ran a red light. The other driver was at fault. The estimate was for the entire front clip, radiator, and other misc. front parts.
- However, the sun roof had popped out and the trunk lid also didn't fit correctly. Further research revealed that on that car, the entire structure absorbed the energy from the crash, all the way to the rear. The accident had literally "sprung" the entire car. The body shop said they could fix the sunroof and trunk lid to seat properly. I contacted Volvo and they said the entire structural integrity of the car had been compromised. So although it may look ok, in a subsequent collision the car would not perform as well. Since the "bundle of rights" explicit in purchasing a Volvo was the safety aspect, and that was now comprised, the car was worth considerably less. More information on post accident structural integrity is available on the Volvo and MB sites. That may apply to the Tesla's safety also being compromised here.
- The model was just introduced so there were literally no used versions on the market for an undamaged price comparison.
The insurance company, once they saw all this information, scrapped the car.
It matters. In many states (like mine) the insurance policy specifically states that DV will not be payed under any circumstances. So if I'm at fault I will not get DV from my ins co. However, if the other driver is at fault I can get DV because I have not signed a contract with the other driver's ins co.
@Zwede, can you collect DV if the other driver is insured by the same company you're insured by?
Thanks,
Alan
Thanks,
Alan
Thanks,
I appreciate your experience - I maybe asking you more about it abit down the line.
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Thanks -- this gives me a place to start, much appreciated.
Greyson
Member
Yes, I can see the pictures now. Thanks for posting, very interesting to get a peek at the internals. The bumper mount beams are massive! I can see why it held up so well, most other cars would have been totaled. Please keep posting as the work progresses.
EarlyAdopter
Active Member
Normally, yes - the double octagonal beams would stop nearly any intrusion. But in this case it looks like the semi hit above them, missing the reinforced bumper entirely. The only thing that stopped further intrusion into the rear compartment was the liftgate metal and C pillars, which, evidently, are pretty strong themselves.
So Jamie from Karosserie is keeping me a breast of how things are progressing and yesterday shared with me that more parts arrived... However, a number of items on the packing list had the dreadful marking of "b/o" -- also known as backorder. This includes items they (meaning Karosserie) need in order to make progress on fixing my car (ie: lift gate)...
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