Diminished Value Claim

[FunkyELF]

Has anyone ever made a diminished value claim from a car accident?

What state were you in? What kind of car, how much damage, how much did you get?

Gimmie the details.

[Rogue Leader]

I used to work in insurance, but I have never done one of these. The only thing I do know is that its not a simple proposition on a car thats technically a "regular" car. I've only heard of this happening on cars that were collector cars or exotics. Did you have an incident? I'm interested to see how this turns out for you.

[Blazernut]

Funky, I had a Diminished Value claim several years ago with a 1999 Grand Prix. Lady took out the right side from front to back, about $7500 in damage. I had to go after her insurance company for it and didn't get what I was asking for. Cant remember teh exact numbers. I actually went to the Pontiac dealer and asked what it was worth before and after and used those numbers. it finally came down to me taking their offer or take them to court so I finnaly took the offer. A few years later, got hit in a different car and it was their fault. They had State Farm and I received a check without even having to ask. There is a calculation formula they use... Don't let it slide by. Stay on them.. Here in Georgia, it is mandatory from what I understand that the insurance company has to pay it out..

[FunkyELF]

Originally Posted by Rogue Leader

I used to work in insurance, but I have never done one of these. The only thing I do know is that its not a simple proposition on a car thats technically a "regular" car. I've only heard of this happening on cars that were collector cars or exotics. Did you have an incident? I'm interested to see how this turns out for you.

Yeah, I was in an accident. I called the guy from here for a free consultation...
http://ican2000.com/dvfaqs.html

He said I need to inform Allstate of my intentions by forwarding an email they automated.
They most likely won't pay based on that. I need to take it to an authorized place after I get the car back and get a full DV report. From there it goes back and forth. Whenever Allstate tries to talk to me, I ask them to send me whatever they want to say in writing. I then forward it to these guys who provide me with a custom response.

He said 94% of their clients reach a resolution with the insurance companies. 6% go into litigation. Of that 6%, 25% of them are dealing with Allstate. He said they may be softening up now because there was a case in Oregon where three people sued Allstate because they were entitled to that money and Allstate was forcing them to litigate to get it.

Based solely on the value of my car and the cost of the repairs they said I am entitled to AT LEAST $4,300. I would imagine it would be more once I get the ball rolling. It was a 3 month old car that I could sell for MSRP because its hot.

[Rogue Leader]

Originally Posted by FunkyELF

Yeah, I was in an accident. I called the guy from here for a free consultation...
http://ican2000.com/dvfaqs.html

He said I need to inform Allstate of my intentions by forwarding an email they automated.
They most likely won't pay based on that. I need to take it to an authorized place after I get the car back and get a full DV report. From there it goes back and forth. Whenever Allstate tries to talk to me, I ask them to send me whatever they want to say in writing. I then forward it to these guys who provide me with a custom response.

He said 94% of their clients reach a resolution with the insurance companies. 6% go into litigation. Of that 6%, 25% of them are dealing with Allstate. He said they may be softening up now because there was a case in Oregon where three people sued Allstate because they were entitled to that money and Allstate was forcing them to litigate to get it.

Based solely on the value of my car and the cost of the repairs they said I am entitled to AT LEAST $4,300. I would imagine it would be more once I get the ball rolling. It was a 3 month old car that I could sell for MSRP because its hot.

Hm that place seems pretty good.

The only thing I can tell you is I agree about Allstate they truly are bastards about paying claims, and while in the end they do pay them, they manage to do everything they can to break your spirit so you will just give up and say its not worth it.

Sounds like you have a fight on your hands, I wish you luck.

[Blazernut]

Simply call your State Insurance Commissioners Office. They will guide you on the laws of your state. Good luck and DO NOT BACK DOWN!!!!!

[Hitter11]

Originally Posted by FunkyELF

Has anyone ever made a diminished value claim from a car accident?

What state were you in? What kind of car, how much damage, how much did you get?

Gimmie the details.

I've been through this. I live in Illinois and was in an accident. My car at the time was a 2004 VW R32, which I was actually trying to sell when the accident occurred. The value of the car at the time of the accident was approximately $21,000 and the value of the damage was approximately $19,000.

I tried going after the diminished value but my insurance, State Farm, screwed me over. Instead of totalling the vehicle out, like they should have done, they attempted to repair it and during repairs they discovered the car was in horrible shape.

Basically they repaired the car, found bigger problems, took it to another body shop who took all the work off and started all over. State Farm told me the reason I could not go for diminished value was because you have to approach the topic and issue BEFORE any repairs have begun.

A close friend of mine had a similar issue and he had to get an attorney.

Funny thing is the accident was never deemed my fault by the police or insurance. Go figure... Thanks State Farm.

[bmac]

Originally Posted by Blazernut

Here in Georgia, it is mandatory from what I understand that the insurance company has to pay it out..

You may be right about this. I recently had a minor mishap in a parking lot where a lady made a wide turn right into the side of my Jeep. When I received the check from her insurance company, it was for more than the amount of the repair. I called the insurance company to ask about the overpayment and the rep explained that it was for diminished value. The repair bill was about $1200 and the DV came to about $250.

Prior to that, I was unaware of diminished value. But it makes sense.

[tyler20c]

Any pics of your car?

[DangerZL1]

Allstate says, "You're in good hands with Allstate", but I've heard when you have a claim they give you the finger. I heard this from a guy at work who had major damage to his house from a storm, and was still fighting with them over a year later.

[FunkyELF]

Originally Posted by tyler20c

Any pics of your car?

http://www.camaro5.com/forums/showthread.php?t=54491

[Rogue Leader]

Originally Posted by DangerouSS

Allstate says, "You're in good hands with Allstate", but I've heard when you have a claim they give you the finger. I heard this from a guy at work who had major damage to his house from a storm, and was still fighting with them over a year later.

Perfect example, my 91 Firebird got rearended by an allstate customer in 2003 (I think) and because 91/92s are kinda rare the shop had a hard time getting the bumper, so they had the car half apart and the car sat for a week. Allstate gave me a rental car but then tried to only pay half the cost because they said that I should have had the shop put everything back together and put the old bumper back on because the car was still driveable, and return the rental car then bring it back when the bumper was ready.

A few choice words with the claims adjuster, her supervisor, and then his supervisor and I got my check... 2 months later. UGH.

[colemanvoice]

Bullies. Dealing with stuff like this is like having your glasses taken off by the big corporations and watching them crush your glasses with thier feet right in front of you. "What are you gonna do about it?"

ever see Woody Allen's "Take the Money and Run"?

[firestone_ss]

i went through this last july when someone hit my 2 week old 2010 camaro ss,i live in washington state and the guys insurance was state farm,i had to hire a seperate appraiser to come out and look at the car and give me a quote for the diminished value,then state farm hired a seperate appraiser to do the same,my guy came in at 22k diminished value there guy was at 2k so then it becomes a game of who has more facts and statements from dealers and what not,all said and done i got 7k diminshed value and my car was repaired at a chevy dealer with all new stuff and the car looks great,dont let the other insurance bully you put a number in your head that you feel is fair and realistic and stick to it,get as many statements from automotive people that support your side of things because the other guys are doing it as well and dont give up