Totaled or repaired Model 3 - what to wish for?

[TLLMRRJ]

God forbid anyone disagrees with Tesla.

I'm not a fan of that feature. As someone said above, it has nearly caused accidents on more than one occasion in my case. It completely fails to take into account HOV/express lanes. I hope they release an update allowing you to turn it off or tweak the speed adjustment.

Thanks for missing the point. It doesn't matter to my point whether or not the feature is properly implemented, the point is that it's a really stupid idea to keep flying at full speed while following closely to cars in front when the lane next to you is slowing down dramatically. There are a very high percentage of stupid people in this world that won't agree with that, and one of them is the truck that hit this guy's Tesla. You may be next.

 

[rickdogg82]

Totaled is easier. Although I have never heard of anyone coming out in the red after receiving a diminished value claim. You would probably come out ahead in fact especially if the repair does not affect the car and you keep it for a reasonable period of time.

 

[texas_star_TM3]

Totaled is easier. Although I have never heard of anyone coming out in the red after receiving a diminished value claim. You would probably come out ahead in fact especially if the repair does not affect the car and you keep it for a reasonable period of time.

the "fun" really starts when years after the repair random components start failing and it's on you to show that this was related to the crash or badly done repairs (close to impossible). having the entire vehicle jolted by an impact is bad for all components - down to wiring/ connections etc. stuff may or may not fail immediately....

 

[mazers]

the "fun" really starts when years after the repair random components start failing and it's on you to show that this was related to the crash or badly done repairs (close to impossible). having the entire vehicle jolted by an impact is bad for all components - down to wiring/ connections etc. stuff may or may not fail immediately....

Thanks for the insight. Never had a car in a bad accident before so nothing to compare it with. I believe I'd rather take the 12-15k hit and buy a new Model 3. Since I've never had a car totaled before, do I have any recourse in the hit I'm taking replacing the Model 3? I know I'l be getting a newer car and AWD, but is there nothing I can do about the totaled value and the cost of a new car?

 

[STLUCIE]

2018 LR RWD, EAP and FSD 33k miles got into a accident (not my fault) and the car may be totaled. Would it be better to wish fixing it and getting diminished value settlement or accepting a total and buying a new LR AWD with FSD. Would be out of pocket probably 15k but would get a new car with AWD. Downside of totaling is no more free premium connectivity, no Homelink. Upside is AWD, brand new car with new tires as I was scheduled for new tires this month.I'm kind of torn but leaning towards wishing for total.

2018 LR RWD, EAP and FSD 33k miles got into a accident (not my fault) and the car may be totaled. Would it be better to wish fixing it and getting diminished value settlement or accepting a total and buying a new LR AWD with FSD. Would be out of pocket probably 15k but would get a new car with AWD. Downside of totaling is no more free premium connectivity, no Homelink. Upside is AWD, brand new car with new tires as I was scheduled for new tires this month.I'm kind of torn but leaning towards wishing for total.

Presenting the insurer with a DV appraisal for $20K (Not a lot for a structurally-damaged car) they might be willing to total the car. There are other reasons for totaling a badly damaged car vs. repairing it. This pertains to cars with even minor damages - insurance companies are playing the game that your car does not qualify for diminished value if it was previously repaired. I have seen insurers try to deny DV claims because of prior curb rash on the wheels! You will likely be forced into litigation in order to collect diminished value on a car that had previous work done.

 

[mazers]

Presenting the insurer with a DV appraisal for $20K (Not a lot for a structurally-damaged car) they might be willing to total the car. There are other reasons for totaling a badly damaged car vs. repairing it. This pertains to cars with even minor damages - insurance companies are playing the game that your car does not qualify for diminished value if it was previously repaired. I have seen insurers try to deny DV claims because of prior curb rash on the wheels! You will likely be forced into litigation in order to collect diminished value on a car that had previous work done.

I ended up with good news. Just looking around the car they came up with 15k in damages, but after tear down, the estimate was 36k and counting. The car was totaled, and the CCC1 valued it at 47k plus tax, etc. Picked up the new one last week.

 

[jbcarioca]

Actually receiving a diminished value settlement isn’t easy; it will be a long, stressful and expensive process. It may end well, but likely more challenging and time consuming than you can imagine. A quick total with fair price settlement check from insurance is always best, IMHO. Insurance companies happily drag DV claims out for a year or more; time is always on their side. You have a life you want to live.

Not necessarily. YMMV really YMWV. It all depends on the carriers involved, coverage for the driver at fault, if not in a non-fault jurisdiction, and many other variables. I had a diminished value payment for my Model 3 that was initiated by my carrier. Of course I was not driving, the fault was definitively the other driver, and the accident happened in an insurance treaty situation. All this means iis that one cannto generalize about diminished value claims. They are impossible in some jurisdictions and situations, fast and easy in others (fewer of the latter, indubitably!).

That said, despite the robust structure of the Model 3 I'd opt for totaled if that can happen.

 

[STLUCIE]

Actually receiving a diminished value settlement isn’t easy; it will be a long, stressful and expensive process. It may end well, but likely more challenging and time consuming than you can imagine. A quick total with fair price settlement check from insurance is always best, IMHO. Insurance companies happily drag DV claims out for a year or more; time is always on their side. You have a life you want to live.

Your experience isn't a one-off. Trying to go it yourself, without competent representation (appraiser, advocate, lawyer if necessary) most often ends up settling for ten cents on the dollar. While the process can drag on, it shouldn't be all that stressful or expensive. The independent appraiser you hire should have credentials, a state-issued Motor Vehicle Appraiser's or Adjuster's license from any state is preferable to a "certified" appraiser or one without any affiliations at all. When you receive the DV appraisal, instructions on the best way to proceed with your claim should be included. An important one is to alert the insurance adjuster that your appraiser would be more than happy to speak on your behalf. That appraiser should also provide customer service throughout the life of the claim. That means advising you how to respond to insurance company denials, low-ball offers and other excuses they throw at you in their attempts to make you go away. Expert witness testimony should also be part of the package, at an additional cost, of course. If your expert won't back up his evidence in court, at least via teleconference, defendant insurers will ask the judge to dismiss your case.

We have seen an auto diminished value case drag on for two years. The owner of the Tesla was content to take her time and wound up taking State Farm to court. I testified in that case. Our client was awarded $46,000.00 by the jury who also made State Farm compensate her for all legal, appraisal and expert witness costs.

No one wants to go through something like this but be assured that it can be you and not the insurance company that dictates the pace of the claim. Insurers are strongly encouraged to close claims and they certainly don't want to face litigation. They can't offer credible evidence to the contrary and they know it. Formulas, algorithms, online ad comparisons are all short-cuts that are easily discredited. Believe it or not, despite all of the scary things you read telling you that obtaining fair settlements is a rarity, you are in the driver's seat.

 

[jbcarioca]

Your experience isn't a one-off. Trying to go it yourself, without competent representation (appraiser, advocate, lawyer if necessary) most often ends up settling for ten cents on the dollar. While the process can drag on, it shouldn't be all that stressful or expensive. The independent appraiser you hire should have credentials, a state-issued Motor Vehicle Appraiser's or Adjuster's license from any state is preferable to a "certified" appraiser or one without any affiliations at all. When you receive the DV appraisal, instructions on the best way to proceed with your claim should be included. An important one is to alert the insurance adjuster that your appraiser would be more than happy to speak on your behalf. That appraiser should also provide customer service throughout the life of the claim. That means advising you how to respond to insurance company denials, low-ball offers and other excuses they throw at you in their attempts to make you go away. Expert witness testimony should also be part of the package, at an additional cost, of course. If your expert won't back up his evidence in court, at least via teleconference, defendant insurers will ask the judge to dismiss your case.

We have seen an auto diminished value case drag on for two years. The owner of the Tesla was content to take her time and wound up taking State Farm to court. I testified in that case. Our client was awarded $46,000.00 by the jury who also made State Farm compensate her for all legal, appraisal and expert witness costs.

No one wants to go through something like this but be assured that it can be you and not the insurance company that dictates the pace of the claim. Insurers are strongly encouraged to close claims and they certainly don't want to face litigation. They can't offer credible evidence to the contrary and they know it. Formulas, algorithms, online ad comparisons are all short-cuts that are easily discredited. Believe it or not, despite all of the scary things you read telling you that obtaining fair settlements is a rarity, you are in the driver's seat.

Precisely true. That is one reason why the insurer is question is one we all should hope we never need deal with on claims. NOTE to self (Not advice): if one can find out that ones insurer uses actuaries to decide on claims adjudication policy one is is wise to rush to find another carrier.