[afpintek]

HI,

I apologies if I put this topic in the incorrect place, but did not know where to ask this question.



I was in a car accident Saturday, and totaled my beautiful 94, 968.

I know the insurance company will never give me what it is worth.

Here are my questions:



What do you think they will give me?

What do you think it is worth?

How can I get them to give me what I think it is worth?

How to get them to give me enough to buy another one? (unlikely)



94, 968 110,000 miles, not mint but darn close.



Any help will be greatly appreciated.





Anthony

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[tamathumper]

Sorry to hear that Anthony. Who is your insurance company?

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[mbardeen]

Sorry to hear about your loss. What kind of damage was done?



One way to start would be to collect all the information you can regarding your car and sales of cars in similar conditions.



Are there many salvageable parts on it? How are your wrenching skills? One option would be to keep it and then part it out. Often times you'll recoup more money that way then letting the insurance company part it.

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[afpintek]

tamathumper,

AllState is my insurance.



mbardeen,

I am 62 with a bad back.

Also, the photo of the Porsche 968 you use looks like mine.



Thanks,



Anthony

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[ds968]

Sorry to hear, but glad you're ok. It will depend on which insurance company you have but comparable sales data will be the primary valuation driver. Most policies are "replacement cost" as opposed to "actual cash value" and if you feel they're lowballing you based on the average comps their system comes up with ( which in many cases will be skewed by cars in crappy condition sold for next to nothing, yet ones which were advertised to be in good shape ) then tell them they must find you another 94 968 of like condition exterior/interior, mileage and upgraded mechanical repairs ( hope you kept recent records ) or alternatively pay you the highest recorded sales price, or even asking price for a similar 968 in the last 3-6 months. Worth a try.

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[Chris Vais]

I concur with DS 968's advice. when our 93 Audi Avant was destroyed the our insurance company came to us with a low offer. I told them that I would not accept a cash settlement that I wanted the car "replaced in kind". We settled for an insurance check that was 4 times their initial offer.

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[afpintek]

Thanks for all your help.



What do you guys think I could get a 1994 968 in excellent condition 110000 miles

I figure maybe $15,000.

What do you think?



Anthony

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[banditsc]

With the cars out on the market now with less miles. I'm thinking 10 tops.

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[Chris Vais]

I think that the consensus of opinion would be that for a car of comparable mileage, that is current on maintenance and has no outstanding issues that you are probably looking at spending $10,000 to $ 12,000. You can find them for less, as I'm sure your insurance company will point out, but you'll spend at least $5,000 to get it up to snuff mechanically. If you you have got all the paperwork to show that the car was well maintained and can document its appearance, you might be able to make a case for yourself.



As point of comparison there are a number of 968s listed for sale on the PCA website. The asking prices tend to be inflated, who knows what they actually sell for, but there are currently a couple with equivalent mileage that are advertised between $15K and $20K.

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[afpintek]

Chris,

Thanks for your help.

I know this is a stupid question, but what is the PCA website, and how do I get to it.



Anthony

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[Lord_Galva]

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!



Sorry, I'm an idiot.



About your car though, use the PCA magazine to find a comparable car. Also use cars.com and ebay. Summer time is when the "pricer" cars come out of the garage to be sold so this is a good time to have the insurance pay out.

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[afpintek]

Thanks again.



Insurance just called and said I will get actual cash value.

What does that mean. That does not sound good.

Any suggestions.





Thanks,



Anthony

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[Rap]

Sorry to hear about your accident. You don't say but were you hurt? Who is at fault? Does your neck or back hurt? I come from a legal family so these questions are immediately asked. Was your bad back medically documented prior to the accident? The rest of the advice offered is point on. Search the web for car prices to, there are a ton of sites. Good luck!

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[afpintek]

Rap,



Yes I hurt my neck, and so did my 10 year old.

The insurance said We are not covered, because I hit guard rails during a bad rain storm and could not see, If I hit another car then there insurance would cover me.

Even though a tractor trailer passed me and threw a waterfall of rain on me so I could not see.



Sounds like BS to me.



Anthony

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[Chris Vais]

PCA is Porsche Club of America. You probably need to be a member in order to view the marketplace on line. If you know someone who is, ask to see their latest issue of Panorama, there are generally a few 968s listed in the cars for sale section.

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[blau]

Anthony,



Very sorry to hear about your accident, but glad that you're okay.



I scanned in the latest July issue of Porsche Panorama and here is the page with the 968 classified listings. Nothing directly comparable.



Is the car a Coupe or a Cabriolet? There are VERY FEW coupes on the market right now, which has driven price up. I can make a PDF of comparable cars for you - let me know - coupe or cab, 6-speed or auto, did the car have any options?



Hopefully can put together some good comps...



Take care

Adam

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[ds968]

[quote name='afpintek' timestamp='1343683150' post='130268']

Insurance just called and said I will get actual cash value.

What does that mean. That does not sound good.

Any suggestions.

[/quote]



ouch, I did not think any company still issues "acv" policies, and generally acv applies ONLY if you decide not to replace it, so if you really want another 968 tell them you won't accept a settlement until you identify a comparable car and at that time you'll give them the specs so they can reimburse you for the purchase price and anticipated mechanical cost to bring it up to snuff .. otherwise, the news is not good at all. acv for our car may be less than or 8 or 9 k . it'll be tough to make a case for replacement value, without replacing the car unless you can convince them it's a collector's vehicle and regretfully our cars do not qualify .. you can still try to argue the rarity of the model and lack of available replacements to boost the settlement price, but I honestly don't see the insurance company bending on that .

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[afpintek]

Adam,

It was a coupe, after market sound system, power seats, etc. (every thing else normal)

Thanks so much for scanning those in for me.



Any other help would be greatly appreciated.



Anthony

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[hot968]

WOW sorry to read of your loss, hope your neck is ok and your 10 year old. I don't know much about insurance so I can't offer much help. I knwo I had Allstate and was told if some thing happened I would get book value and that was all. I had no ides u could negosiate more with them. I have never had an accident but because I felt my car was worth more then book I switched to American Collectors with a stated cash value. Best of luck with your dealings with the insurance company. I need parts for my 92 coupe if u decide to part out.

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[blau]

Anthony -



I pulled the 12 listings that I could find for coupes (with the exception of 2-3 listed at $8-9000) over the last few months on forums and stuff that is currently listed around the country. There is also one cab in there.

They range in mileage and price, but hopefully these will help your case. I started it off with the 3500 mile coupe for $45k - that should be a good starting point for them to look at <img src="/forum/images/smilies/968/smile.png" class="smilie" alt="" />



Anyway, hope your neck heals quickly, and let us know if we can be of any more assistance!



Right click, save as:

http://www.adamblauer.com/web/drop/comps.pdf

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