Lotus vs Honda (x2). Honda wins. - Page 3 - LotusTalk - The Lotus Cars Community
Reply
 
LinkBack Thread Tools Display Modes
post #41 of 64 (permalink) Old 01-11-2008, 04:47 PM
Registered User
 
codymac's Avatar
 
Join Date: Nov 2005
Location: where the east tapers out and the west begins
Posts: 9,297
Quote:
Originally Posted by Drjest View Post
AFAIK, In your equation, salvage value would be substracted from undamaged value first.

(undamaged value - salvage value) = approx net cost to the insurance company in a total situation.
Yeah, but I think his point is:

undamaged value + (gap coverage if applicable) - deductible = payout

IIRC, they're subrogating so you're likely going to be stung for the deductible until the Honda guy's insurance ponies up. At that point, you generally get your cut first, then your insurer gets the rest.
codymac is offline  
Sponsored Links
Advertisement
 
post #42 of 64 (permalink) Old 01-11-2008, 04:57 PM Thread Starter
Registered User
 
Drjest's Avatar
 
Join Date: Mar 2007
Location: Plano, TX
Posts: 55
Yep, so far you are batting a thousand. Next question: Did Mr Honda accept liability?



Ding Ding Ding. Nope! The Police report clearly states that he said it was his fault. Sigh.
Drjest is offline  
post #43 of 64 (permalink) Old 01-11-2008, 05:41 PM
Registered User
 
DragonRider1's Avatar
 
Join Date: Nov 2005
Location: Knoxville, Tn
Posts: 1,573
Quote:
Originally Posted by Drjest View Post
Yep, so far you are batting a thousand. Next question: Did Mr Honda accept liability?



Ding Ding Ding. Nope! The Police report clearly states that he said it was his fault. Sigh.
Do you mean the report showed it was clearly the Honda's fault or that he said it was clearly your fault? That's somewhat unclear..?
DragonRider1 is offline  
 
post #44 of 64 (permalink) Old 01-11-2008, 06:08 PM Thread Starter
Registered User
 
Drjest's Avatar
 
Join Date: Mar 2007
Location: Plano, TX
Posts: 55
The report showed that he accepted fault, yet he told his insurance that it was not his fault. If I were not involved, I would find that somewhat amusing.
Drjest is offline  
post #45 of 64 (permalink) Old 01-11-2008, 07:02 PM
Registered User
 
DragonRider1's Avatar
 
Join Date: Nov 2005
Location: Knoxville, Tn
Posts: 1,573
I have found from experiance that people are often extremely honest in the heat of the moment. Everything is happening so fast that they tend to tell exactly how and what they saw. Only after some time for things to settle in do they start thinking of the ramifications and then start looking for an exit to their previous statements. I'm sure if you think back on it, there are plenty of times in your life that this has been the same for you as it has for anyone else. It's just one of those human nature things.
DragonRider1 is offline  
post #46 of 64 (permalink) Old 01-11-2008, 07:24 PM
Registered User
 
zoltiz's Avatar
 
Join Date: Dec 2007
Location: Atlanta, GA
Posts: 163
He's at fault on the police report and that's the most important part. At least he's got half-way decent policy limits. Most people around here drive with state minimum if you are lucky.
zoltiz is offline  
post #47 of 64 (permalink) Old 01-11-2008, 07:55 PM
Registered User
 
DragonRider1's Avatar
 
Join Date: Nov 2005
Location: Knoxville, Tn
Posts: 1,573
Quote:
Originally Posted by zoltiz View Post
He's at fault on the police report and that's the most important part. At least he's got half-way decent policy limits. Most people around here drive with state minimum if you are lucky.
When I worked for State Farm and the Sheriffs Office in Fla I found that only around 30-35% of the drivers actually had decent coverage and less than 70% had insurance at all. I somehow think TN is worse than that. Of course, I never would have realized it until I worked there but some 30-35% of all crashes are hit and run, even when in active intersections, etc. Yep, even happened to me but thankfully no damage to my car (not the Lotus).
DragonRider1 is offline  
post #48 of 64 (permalink) Old 01-13-2008, 03:10 PM
anglophile in exile
 
Aedo's Avatar
 
Join Date: Jan 2006
Location: Oz
Posts: 5,453
Quote:
Originally Posted by Drjest View Post
AFAIK, In your equation, salvage value would be substracted from undamaged value first.

(undamaged value - salvage value) = approx net cost to the insurance company in a total situation.
True - but I still fail to see why this is relevant to the decision on whether or not to repair the car? For example, if the insurance company thought they could get $20k for the wreck, and repairs would be $15k on a $30k car it would be better for them economically to total the car (these costs could easily be incurred through front clam damage only too!) - and maybe the owner would like this But to extend the logic in a less dramatic incident, with perhaps a $3-4k damage bill, salvage value could easily be $28k! So would you write off this car???

I don't know the answer (and am not familiar with the US insurance system) but am curious as the salvage value comment seems to come up regularly.
Aedo is offline  
post #49 of 64 (permalink) Old 01-14-2008, 08:15 AM
Registered User
 
CosmosMpower's Avatar
 
Join Date: Sep 2006
Location: Frisco, TX
Posts: 2,795
Just get the police report and threaten to sue the insurance company if they don't cover it. I had to do that when someone backed into my M3 while it was parked in downotwn Dallas. The cop saw the person, chased them down, took a report and their insurance (AIG) screwed me around for a month until I went down to the station and got the report.
CosmosMpower is offline  
post #50 of 64 (permalink) Old 01-14-2008, 08:25 AM
Registered User
 
codymac's Avatar
 
Join Date: Nov 2005
Location: where the east tapers out and the west begins
Posts: 9,297
Quote:
Originally Posted by Aedo View Post
True - but I still fail to see why this is relevant to the decision on whether or not to repair the car?
I live here and I fail to see it!


Quote:
Originally Posted by CosmosMpower View Post
Just get the police report and threaten to sue the insurance company if they don't cover it. I had to do that when someone backed into my M3 while it was parked in downotwn Dallas. The cop saw the person, chased them down, took a report and their insurance (AIG) screwed me around for a month until I went down to the station and got the report.
That's why you have the insurance company subrogate - it makes it way easier and you don't have to deal with Fly By Night Ins. Co. on a claim.


Drjest - any updates yet?
codymac is offline  
post #51 of 64 (permalink) Old 01-14-2008, 09:05 AM
Registered User
 
CosmosMpower's Avatar
 
Join Date: Sep 2006
Location: Frisco, TX
Posts: 2,795
Quote:
Originally Posted by codymac View Post
I live here and I fail to see it!




That's why you have the insurance company subrogate - it makes it way easier and you don't have to deal with Fly By Night Ins. Co. on a claim.


Drjest - any updates yet?
I heard letting your own insurance comapny know about a not at fault situation can still possibly affect your future premiums etc. Plus I figured it would be an easy claim but the insured decided to not cooperate and sleazy AIG tried to screw me out of paying the claim so it ended up being a fiasco.
CosmosMpower is offline  
post #52 of 64 (permalink) Old 01-14-2008, 10:10 AM
Registered User
 
codymac's Avatar
 
Join Date: Nov 2005
Location: where the east tapers out and the west begins
Posts: 9,297
Quote:
Originally Posted by CosmosMpower View Post
I heard letting your own insurance comapny know about a not at fault situation can still possibly affect your future premiums etc. Plus I figured it would be an easy claim but the insured decided to not cooperate and sleazy AIG tried to screw me out of paying the claim so it ended up being a fiasco.
I'm not an insurance guy, but I think it ends up in CLUE anyway. Your rates would definitely get dinged if it were "at fault" but think a not-at-fault would depend on the carrier.
codymac is offline  
post #53 of 64 (permalink) Old 01-14-2008, 11:07 AM Thread Starter
Registered User
 
Drjest's Avatar
 
Join Date: Mar 2007
Location: Plano, TX
Posts: 55
No big updates. The body shop did say they got a price on the tub. $13k + $10k in labor. The ins. estimates have not been updated to reflect that yet. I faxed the police report to my ins. on Friday and am waiting to hear back from them.

I am looking at ordering another Phantom Black, 07 or 08.
Drjest is offline  
post #54 of 64 (permalink) Old 01-15-2008, 12:23 PM Thread Starter
Registered User
 
Drjest's Avatar
 
Join Date: Mar 2007
Location: Plano, TX
Posts: 55
Ok, case closed. Totaled. Time to start shopping.
Drjest is offline  
post #55 of 64 (permalink) Old 01-15-2008, 12:47 PM
Registered User
 
akandok's Avatar
 
Join Date: Jul 2007
Location: Sacramento, CA
Posts: 1,831
Score
akandok is offline  
post #56 of 64 (permalink) Old 01-17-2008, 10:50 AM Thread Starter
Registered User
 
Drjest's Avatar
 
Join Date: Mar 2007
Location: Plano, TX
Posts: 55
Here is the VIN number. I would bet $1 that it will be recycled without correctly repairing the tub damage.

SCCPC11186HL30951
Drjest is offline  
post #57 of 64 (permalink) Old 01-21-2008, 12:37 AM
Registered User
 
Westrock's Avatar
 
Join Date: Sep 2005
Location: Fort Worth
Posts: 2,969
Who was your insurance company....only took me 4 month to resolve mine Granted mine was a little different than most....mine still looked perfectly fine and was completely driveable.

This is why I chose to live in West Fort Worth even though I work right there at Texas Instruments and the High 5. There are WAY less cars out here, so I can drive on open roads and park in empty parking lots.
Westrock is offline  
post #58 of 64 (permalink) Old 01-21-2008, 06:44 AM Thread Starter
Registered User
 
Drjest's Avatar
 
Join Date: Mar 2007
Location: Plano, TX
Posts: 55
USAA. Overall, I give them a thumbs up. Dude still hasn't accepted liability, so I'm out my deductible until then. My injury claim is still open as well.

It was impossible for me to have the car in the garage and choose something else to drive. I've read other forums ( bmw, ferrari ) and I laugh at the posts who spout the BMW party line of "The Ultimate Driving Experience." Yes, they can be fun, but its just a different experience. The Lotus driving experience was so fun, it made me smile everytime I got into the car.
Drjest is offline  
post #59 of 64 (permalink) Old 04-04-2008, 08:57 PM
mjf
Registered User
 
mjf's Avatar
 
Join Date: Nov 2007
Location: Bellevue, WA
Posts: 1,482
Quote:
Originally Posted by Drjest View Post
Here is the VIN number. I would bet $1 that it will be recycled without correctly repairing the tub damage.

SCCPC11186HL30951
And indeed it is...

https://www.lotustalk.com/forums/showthread.php?t=54751

Right here on our own forums, for sale for ~$20K. Ouch.
mjf is offline  
post #60 of 64 (permalink) Old 04-09-2008, 01:01 PM
Registered User
 
Join Date: Jun 2006
Posts: 4,450
Quote:
Originally Posted by Drjest View Post
Here is the VIN number. I would bet $1 that it will be recycled without correctly repairing the tub damage.
SCCPC11186HL30951
Quote:
Originally Posted by mjf View Post
And indeed it is...
https://www.lotustalk.com/forums/showthread.php?t=54751
Right here on our own forums, for sale for ~$20K. Ouch.
so the seller (who bought at auction in Houston TX) from the thread in MJF's post took down the FS thread... also took down the Ebay listing.

don't know what that means in terms of the car's dispostion, but it's sure to turn back up somewhere. according to the text in the Ebay listing and in the (now closed) FS thread, the seller was looking to "flip" the car. perhaps he's found a seller, or perhaps it'll find another route into someone's unsuspecting hands, but as with everything else... CAVEAT EMPTOR .

again the VIN for this frame damaged, irreparable lotus is SCCPC11186HL30951

if you are considering purchasing this car, please see this photo
https://www.lotustalk.com/forums/show...7&postcount=34
and others in the OP's numerous posts.


SCCPC11186HL30951
ace10 is offline  
Sponsored Links
Advertisement
 
Reply

  LotusTalk - The Lotus Cars Community > Community > Regions > Texas Region

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the LotusTalk - The Lotus Cars Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome