Diminished Value Claim: real or unicorn?

[Chimpo]

I've been reading up on pursuing a diminished value claim for my car. For refreshers it was rear ended with some structural damage, took a month and $7500 AFTER insurance company negotiation to get it back. Admittedly most of the sites that talk about this seem shady, but even the body shop (part of a large local dealer chain) was very well aware of it and what I needed to do, etc. Well I called my local insurance person and they (as expected) claimed complete ignorance to a diminished value claim.

The lady I spoke to also could not wrap her head around that even tho the car was repaired it would be worth less SINCE IT HAD THE REAR END CRUSHED IN. She had "never heard of that happening and had sold plenty of cars that had been damaged at full KBB value."

WTF? Ever hear of Carfax?

Obviously I'm not done with them, but does anyone have any ACTUAL experience with this sh*t other than here-say?

[SubaruLifer]

My wife's last car was rear ended and we successfully made a diminished value claim on it (got a little over $2K). I believe it varies by state whether or not you can make a claim (we were in NJ at the time). For us, we also had to be trying to sell the car.

[Chimpo]

I was already planning on taking it to a dealer in the next few days for trading it in and see what they will give me and what they would have given me. Starting from there will def help.

I'm glad that you successfully filed a claim as to proving this does actually exist. Now was that just "through" the insurance company via negotiation or did you have to go through any other avenues, specifically talking legal?

From what I've read my state now recognizes these kinds of claims.

[SubaruLifer]

It was completely through the insurance company via negotiation.

[extrashaky]

I'm too lazy to find the thread, but I recall someone here saying they had a third party appraiser assess the value of the car and estimate the value of the loss to diminished value.

The thing to do is to contact an attorney who handles personal injury cases. That's your best bet for recovering the diminished value. They'll be able to tell you how to get it estimated and documented for maximum effect.

[kmbkk]

My wife's car was rear-ended as well. We just contacted the paying insurance company. They sent out an appraiser who came up with the diminished value and paid us the difference.

[FRSure]

Originally Posted by Chimpo

I've been reading up on pursuing a diminished value claim for my car. For refreshers it was rear ended with some structural damage, took a month and $7500 AFTER insurance company negotiation to get it back. Admittedly most of the sites that talk about this seem shady, but even the body shop (part of a large local dealer chain) was very well aware of it and what I needed to do, etc. Well I called my local insurance person and they (as expected) claimed complete ignorance to a diminished value claim.

The lady I spoke to also could not wrap her head around that even tho the car was repaired it would be worth less SINCE IT HAD THE REAR END CRUSHED IN. She had "never heard of that happening and had sold plenty of cars that had been damaged at full KBB value."

WTF? Ever hear of Carfax?

Obviously I'm not done with them, but does anyone have any ACTUAL experience with this sh*t other than here-say?

I was in an accident half a year ago.. Car finished repair in march. Filed a diminished value in april, did not get money till June. Insurance will drag their feet with it. Just make sure they send everything through CERTIFIED mail.
The insurance gave me the whole bs I did not receive it thing with regular mail.

I use collisionclaims associates. Any question pm me!

[RojerLockless]

I need to make a claim too when I got backed into. I swear this car is by FAR the most bad luck vehicle I've ever owned. Might even be combined.

[FRSure]

Originally Posted by RojerLockless

I need to make a claim too when I got backed into. I swear this car is by FAR the most bad luck vehicle I've ever owned. Might even be combined.

You should! I got about 5200 with my DV. -$395 I paid for initally so I got 4800 back.

[Chimpo]

Talked to a claims agent a lot further up the food chain who said the they would review my claim if I am able to get a value of the car before and after. They warned the hard part would be getting a value of the car before and that's where most people get "hung up." I'm not thinking this is going to exactly be hard since the car was in an accident and then sat while it was repaired. I have only had it back for two days now. Basically it is the same except with the new back end. I have a ton of photos from the accident where the car looks really good except for the smooshed back.

Interestingly even though I had read that my state now recognizes DV claims, the insurance person said it does not.


This isn't unexpected but I hate jumping through hoops.

[FRSure]

Originally Posted by Chimpo

Talked to a claims agent a lot further up the food chain who said the they would review my claim if I am able to get a value of the car before and after. They warned the hard part would be getting a value of the car before and that's where most people get "hung up." I'm not thinking this is going to exactly be hard since the car was in an accident and then sat while it was repaired. I have only had it back for two days now. Basically it is the same except with the new back end. I have a ton of photos from the accident where the car looks really good except for the smooshed back.

Interestingly even though I had read that my state now recognizes DV claims, the insurance person said it does not.


This isn't unexpected but I hate jumping through hoops.

All 50 states recognizes DV. My claim adjuster gave me the same BS.

[Tt3Sheppard]

At least you have diminished value, here in MA if you are rear ended you might as well take off $1000 on the NADA.

[Chimpo]

One of my brand new tail lights is doing that "fish bowl / atrium" thing

[Stewie]

More information is needed to answer your question. But without knowing more...

DV (diminished value) claims are usually made against the at fault party's insurance company. Your own insurance policy wouldn't cover a diminished value claim in most instances, but that can vary from state to state. Check your policy exclusions under collision coverage.

If you already settled your claim with the at fault party's insurance carrier, presenting a DV claim could be hard. If you signed a release...you might have given up a right to a dv claim already.

Your first step is to call the at fault party's insurance carrier and tell them you want to pursue a dv claim. If you already signed a release they'll let you know that they won't honor your dv claim.

Of interest...was your car totaled? I ask because I don't understand why you had to come out of pocket $7500... Could you explain how that 7500 comes into play?