Quote:
Originally Posted by oldpueblo
IF both are being sold, yes. If both are being enjoyed by their owners, no.
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Definitely, definitely not true. I've won a diminished value case or two in my time. Whether or not you sell it or intend to sell it is completely irrelevant, and while insurance companies like to claim it's not possible to assess diminished value until the vehicle is sold, this is also incorrect. They simply hate paying it. (see Oliver v. Henry which actually took place in Arizona for what its worth)
It's no different than a house. If a nascar stadium went in 15 feet behind your house, it's no longer as valuable as it previously was regardless of whether or not you intend to sell it. (Which this sort of precedent is exactly what I always use)
Several years ago Allstate wrote a check for $7500, after paying all costs to repair my vehicle, after the tortfeasor lost in small claims court. The total diminished value was assessed at $15k. Repair costs for the vehicle were around $16k. If you show up prepared in front of a judge with case law, an appraisal, etc. it's a pretty easy thing to win.
Who takes diminished value on a car to civil court anyways? Was it a Ferrari or something?
edit: Btw, if anyone is actually pursuing DV, most insurance companies will throw case law at you indicating that an insurance company is only obligated to repair the vehicle. These cases are in relation to first party claims (you can't go after your own insurance company for DV in most states) rather than third party claims.