Diminished Value Auto Insurance Claim

[Ron01864]

Just repair it and be on your way like everyone else on the road

Or file a claim that is winnable. 6600.00 is worth the small leg work i had to do.

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[HoosierDaddy]

Just repair it and be on your way like everyone else on the road

Diminished value is an actual loss to you. Not receiving it is no difference than telling the insurance company you'll pay for half the repairs out of your own pocket. The only difference is when you pay it, now or when you sell the car.

Believe me, everybody (else) doesn't just go on their way and eat the loss. Mostly just people who didn't think about the effect on the value of their car or didn't know what to do about it.

You do come out on the plus side if you keep the car a very long time. I mean the repair may mean your car is worth 6k less if you sell it right away but it won't be worth 6k less when a non repaired one is work 1K at some distant future.

Now if you caused the wreck and its your insurance paying that's a different ball game. There shouldn't be a diminished value payment unless your policy or some local law says you are entitled to it but I doubt any insurance company does that without also charging you extra for it.

 

[Ron01864]

Diminished value is an actual loss to you. Not receiving it is no difference than telling the insurance company you'll pay for half the repairs out of your own pocket. The only difference is when you pay it, now or when you sell the car.

Believe me, everybody (else) doesn't just go on their way and eat the loss. Mostly just people who didn't think about the effect on the value of their car or didn't know what to do about it.

You do come out on the plus side if you keep the car a very long time. I mean the repair may mean your car is worth 6k less if you sell it right away but it won't be worth 6k less when a non repaired one is work 1K at some distant future.

Now if you caused the wreck and its your insurance paying that's a different ball game. There shouldn't be a diminished value payment unless your policy or some local law says you are entitled to it but I doubt any insurance company does that without also charging you extra for it.

You dont go after your own insurance company in a DV case. They are only obligated to repair your damages. In an accident and if you are NOT at fault, then you go after the guilty party's insurance, as i did. So there is no increase in your policy for having this coverage, because you dont actually have that coverage.

 

[HoosierDaddy]

You dont go after your own insurance company in a DV case.

Uhhh yeah, that's exactly what I said in what you quoted:

Now if you caused the wreck and its your insurance paying that's a different ball game. There shouldn't be a diminished value payment unless your policy or some local law says you are entitled to it but I doubt any insurance company does that without also charging you extra for it.

 

[Martman GT]

You guys are just lucky the other drivers had insurance. The last 2 accidents I was involved in were both the other drivers fault. In both cases, the other drivers were even cited for the accident. Problem was they were both in the country illegally and had no insurance. First accident I was in my 2 mo. old F150, and the second was my 8 mo. old Ininiti G35. Lost my ass when trading both cars in because they had major damage reported to Carfax. Since my insurance paid for repairs via my uninsured motorist coverage I wasn't able to file for diminished value.

 

[HoosierDaddy]

You guys are just lucky the other drivers had insurance.

There's a glass half full kind of guy. I guess I was lucky to get run into by someone with insurance.

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