69dodgecharger

Hey,

Curious if anyone has ever gone after an insurance company to pay out for Diminished Value due to your car getting damaged?

My Z recently got hit by an old lady who didn't know how to look behind her when backing up. And while the damage isn't terrible (door, fender) it will certainly be an issue when selling or trading the car in when that time comes (if it comes) and I feel the ladys insurance owes me for this as this was an original paint car that was never hit before.

I have done a little reading on this and it seems that I certainly do have a case, however it is not an easy thing to go about doing. So has anyone had any luck in this department? Did you pursue the claim yourself or use a 3rd party to go ofter them for you?

Thanks!

Grzldvt1

With that small amount of damage, I seriously doubt you will get anything. I had a Safeway truck crunch me at 880 & 238, did about $2K worth of damage. I talked to a 3rd party out of Arizona that someone on the forum set me up with. They pretty much told me to come back when I had $15k+ worth of damage. Talked to my insurance and they simply told they don't do diminished value, and pretty much repeated what the 3rd party said... even if they did do DM, my damage isn't enough in $ value to be an issue.

In the end I actually ended up with a spectacular new paint job that has definitely made up for any value lost.

phileaglesfan

Structural damage is the key for a claim. Unfortunately they don't care much about cosmetic damage. Someone ran into the side of my 07 Impala SS back in Oct 2008 causing over $7k of damage, bent the B pillar. I used a 3rd party site but I had to negotiate with their insurance company. It took about 4-5 months and I ended up with about $2k above the $400 fee. So yes my car had an accident, over 2 years ago now. I don't plan on selling the car any time soon so the diminished value is less every year since people can't reall say an accident that happened years ago lowers the value of the car. Impalas don't hold their value anyway so when I do sell it in a few years it won't be worth that much anyway.

Also check your state law as it varies greatly. Also remember that you may make a mistake someday yourself.

carguy1965

I recently hit a deer in my DD 07 Avalanche.. Did 6,800 in damages to a previously pristine vehicle.. Got a letter from my insurer before the vehicle was even looked at by the adjuster telling me they had examined the claim and there was no diminished value. I had one very polite but firm conversation with my agent. The gist of it was you could not do 6,800 in damage to a 21,000 book value vehicle without having diminished value.. That led to myself and them having independent appraisers do a diminished value estimate report.. My guy came up with 3200, their guy came up with 1800. We split the difference, plus I got the cost of my report back.. I got a check for 2600. They will pay diminished value, you just have to show that you will not go away unless they do.. The law pretty much supports the consumer at this point. But if you don,t push it, they will happily let it go away..

eddie44

About 5yrs ago I got hit in my 02 C5. $18k in damage. Basically the whole drivers side had to be replaced. I got $3500 in DM from USAA who insured the other driver. That was w/o too much argument but then they were great with everything involved even though I wasn't their customer.

EliteGreg

My minivan was recently hit and the other driver's insurance paid out diminished value. They called the Toyota dealer and asked what they would adjust a trade for, and he said 1/3 of damages. In this case, it was only $600 of damage, so they paid us an additional $200. I think they key is getting some sort of appraisal for the DV.

LawyerJoe

depends on law of state where your or the other persons insurance is from. In Florida, such a claim can be made against the other persons insurance, but rarely against your own carrier. It will usually require the services of an auto appraiser who can do an affidavit or be a witness in your case. Most PI lawyers will know the law of the local.
joe

james2292

"They will pay diminished value, you just have to show that you will not go away unless they do."

they will pay it

not08crmanymore

Why in the world would a small fender bender like that make a difference??Today's body work comes out better then new in most cases,so unless you bring the car to a moron it should not suffer any ill effects monetarily from this incident.

Ron one

Go for the deminished value! You will have to pursue it yourself. No one else cares and there isn't enough money in it for a lawyer.

The deminished value will not be an issue until you attempt to trade or sell your car. Then, when someone checks Carfax, they will lowball you. It is difficult to assess the loss untill you actually incurr it but rest assured you will lose value. Try to establish you resale value before and after the damage and demand that amount of money.

Good luck.

ducvw2004

The reason its a big deal these days is Carfax.
Any accident that is reported to an insurance company will show up on a Carfax report.
The big problem is that the report doesn't tell you if it was a minor fender bender.

not08crmanymore

Still not a real big issue though.CARFAX will tell you ( or autocheck will anyway) if it was a collision with another vehicle or what.I stand by what I posted.Today's body work will make a car good as new and sometimes better.It's not like we're talking salvage title here.

gilly6993

it's minor damage....just take pics and keep the invoice form the collision shop to show it wasn't a major accident...