Porsche Accident Claim Controversy: Insurance Pays Only Half, Owner Refuses to Accept!

Ningbo, December 28 — Mr. Xia bought a second-hand Porsche Panamera for 620,000 RMB in August. Unfortunately, after an accident, the insurance company offered only half of the total coverage, leaving the owner deeply dissatisfied.

Mr. Xia explained that the car’s original price exceeded 1.5 million RMB. He purchased a 1 million RMB car damage insurance policy and other coverages from Pacific Insurance, spending a total of 28,500 RMB. On October 31, his brother drove the car from Suzhou, Anhui to Guzhen and collided with a bridge pier. The traffic police determined his brother was fully at fault.

The car was towed to a dealership for assessment, with repair costs estimated at 900,000 RMB. However, the insurance company refused repairs, suggesting the car be scrapped and compensated based on current market value. A third-party evaluation valued the car at only 520,000 RMB, so the insurer offered just that amount.

Mr. Xia argued that scrapping the car would mean losing 100,000 RMB for just over two months of use. Moreover, the insurance he purchased for 28,500 RMB did not exceed the 1 million RMB coverage—why couldn’t he be compensated at the insured amount? He said, “When I bought the insurance, they promised high coverage for high premiums. Now they claim market value—this feels like a trap.”

Pacific Insurance responded that the case has been reported to senior management and that a reply would be provided soon.