Quote:
Originally Posted by TheVoiceOfReason
You're right. I shouldn't have said you can't do it, but Georgia is the only state that requires diminished value to be paid on first party claims. Other states are only required for 3rd party claims. While you could still file a claim against your own insurance for diminished value in certain states, they can possibly raise your rates, and it is not likely worth the hassle in most cases in my opinion. I researched it when I hit a deer with my brand new brz of 3 months, and determined it was not going to be worth the trouble for me. Especially because i'm the kind of person that will keep a car forever and not try to trade it in after a few years, so the loss of value won't really affect me. From what i've read, You may be able to successfully claim it if you try to sell the car right after the accident, but find that you can't sell it for what it should be worth due to the accident.
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I tend to keep cars until they run into the ground also. For me it was more about receiving money that i was entitled to. I think the average consumer is unaware that diminished value even exists. It appears to be a mythical unicorn for most. To be honest the process for filing it was not that difficult (in WA state). Regardless of whether or not i sell my car in the future(despite all the stupid warranty issues I've had) any accidents repaired under insurance will still be on its record and will probably be used against its value.