Diminished Value in Canada?

[TJ91]

Alright guys, so today some kid sideswiped me and took out the entire side of my car, from the fender to the rear quarter panel.
Now im really upset, but i remeber another member having had a major accident in which the member made a claim for Diminished value. I was just wondering if this was possible in Canada, specifically Ontario. Im not sure how it works and would really appreciate any input.
Thanks guys

[SSLarry]

Don't have an answer to your question, but some advice:
Take a bunch of hi quality pics of the damage, and then right after the repair to show your next buyer. It may ease his mind after he checks your CarFax. When he reads 'accident' the buyer has no idea if it was cut in half by a train or involved in a simple fender bender.

[Ironheadspearo]

it wont matter who buys it, the value will be less because of a wreck. you should get compensation IMO for the difference. my boss is going through the same issue right now on a 2009 hyundai genesis. basically a 35k car with 9k miles will be worth max of 22k once fixed. he is trying to get compensated for at least 6k due to the wreck.... good luck

[Hylton]

I think you should be taking that up with your insurance. You will definitely lose resale value on the car because it will be on record, especially if you get it fixed at a GM shop (which I recommend). Personally I don't mind the fender or door being replaced, as long as the collision didn't bend anything structurally. The quarter however would really bother me when shopping for a used car.

If you believe that you will lose 2K in resale, then this is what you should be seeking from the insurance company. It may also depend on what policy you have though. Perhaps spending $150 bucks for a 30 minute consult with an insurance claims lawyer would be a wise investment before you get anything done.

[custompainter]

I dont know about Canada, but here in Oregon you can claim diminished value. It not only results in covering your loss but the shop will know and will put thier best techs on it, because after the repairs are done it gets inspected by another shop(of the insurance co.'s choice). They are usually very critical of the repairs and will present a detailed report of the repairs done. This is a win-win situation for you,not so much for the shop. In short...The better the repairs the lower the diminished value and visa-versa.
I would suggest talking to your agent,he will know the best course to take.

[cowjazz]

Usually, here in the USA, if you file through your insurance policy you cannot claim diminution of value. Most policies are written to prohibit you from claiming diminution of value on your own policy. If your are collecting through another party's insurance, you may have a claim. Check with vehicle appraisers in your area. Ask them if they do appraisals for diminution of value. They would probably know a lot more about this and how it applies in Canada.

[Mr_Draco]

I don't know about Canada but in the US insurance companies by law is not required to cover a Diminished Value Claim. So whether or not it gets covered varies from company to company and even then agent to agent. Getting a lawyer will not help you if the insurance company doesn't cover it but instead will advise you to go after the person at fault.

Your best bet is to contact the insurance company and talk to them.

[Riderover40]

It is up to you to get your insurance company (who represents you here) to claim the lost value. Put up the fight and do not sign the release until you are satisfied. You have lots of colateral if the other driver is charged!