SilverFarmer

Any one have any recent experience with a diminished claim value on well maintained, around 30K miles boxster? Or any like value car (somewhere around $20K)? All maintenance/upgrade records current. Repair bill approximately $20K (done at Porsche certified/affiliated collision center). I am trying to determine if it is worth the time and investment to recover difference. Is it just not worth it for a car of this value? I am going to keep it! Thanks!

RennPart

I would assume the car is totaled if there is $20k in damages.

--Aaron

RL911

If your car sustains $20k in damage and it’s only valued at $20k (if I read your post correctly), it’s a total loss. You’ll get the insured or market value. Diminished value I think only applies when it’s not a total loss.

SilverFarmer

Sorry for the confusion! Rounding error on my part. Assumption of $20K value pretty close, repair came in just under at $19K and change. Car is currently being repaired. My apologies.

jbauer

$20k value for a 99 or older Boxster? 🤔

RL911

Usually if the repair is 70-80% of the value, it’s totaled. Surprised insurance is paying to fix it.

Dr. 914

If the insurance company paid 19 grand to repair a 1990s boxster they will NEVER pay you diminished value as was said the car it not even worth 12 thousand these days

DIMINISHEDVALUE

If your plan is to go after the diminished value of your car, you'll need to get an idea of what the payoff would be. Keep in mind that the insurer will lowball you at first.

If the car had any structural damage or airbag deployment, it will lose 30%-40% of its pre-accident trade-in value. If neither of those are factored, the DV will be more like 10%-15%.

SilverFarmer

Thanks DV. This is generally/approximately speaking with respect to "any" vehicle of comparable value: correct? Thanks again for the input!

DIMINISHEDVALUE

That is a rule of thumb.

To be more specific, cars that had airbags/structural repairs are pariahs to all potential buyers/dealers.

Cars that did not have either can fluctuate according to make and model desirability, region (An FJ Cruiser loses little value in the area of Yuma AZ where there are sand dunes galore) and limited availability but generally within that 10%-15% range.