01-23-2018, 03:49 PM | #1 |
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Diminished value claim approved!
So finally after 6 months of jockeying back and forth with insurance companies and having to use under-insured motorist because the idiot that hit me carried state minimum coverage I finally got an approval for my diminished value claim!!! My damages were almost $14000 and they determined my car lost just over $7k in value due to the rap sheet my car has now. A check is on the way which is a nice victory sort of with all things being equal....moral of the story...fight your ass off if some dipshit hurts your M car!!!
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01-23-2018, 04:10 PM | #3 | |
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I certainly would not. |
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01-23-2018, 04:14 PM | #4 |
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01-23-2018, 04:15 PM | #5 | |
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The diminished value happens if your car gets in an accident so I would rather at least have the money to help offset it versus nothing at all. I dont have the kind of power it takes to twist time so my car would have never been in the accident which would have been the best scenario...Its called making the best of a shitty situation Last edited by bb1857; 01-23-2018 at 04:29 PM.. |
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01-23-2018, 04:20 PM | #7 |
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I started the process with a company that only does DV claims. Spoke with them a couple times before moving forward because the report cost me $300 so I wanted to think I would at least get something. He compiles the accident report, body shop report, carfax, book values before and after accident and gave me a 30 page report to submit to the insurance company. It helped a lot because the initial value insurance gave was less than $5k then they referred to the report and increased the number. The longest part of the process was because they had to use under insured motorist.
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01-23-2018, 04:21 PM | #8 |
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It's financed...unfortunately the insurance companies are keen to the lease and you cant even file a diminished value claim if leased. Tried to with my GTI that is leased and got hit in a driveway by a big ass pickup truck.
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01-23-2018, 04:55 PM | #10 | |
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01-23-2018, 05:01 PM | #11 | ||
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01-23-2018, 05:04 PM | #12 |
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Again your comments are so insightful. I am pretty sure I would love to have the ability to avoid being hit by the person that caused the accident but I guess I don't have the skill level behind the wheel to avoid any and all things...congratulations on your awesomeness.
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01-23-2018, 05:14 PM | #13 | ||
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Would rather have diminished value paid instead of nothing. But All said, even with all that said, I wouldn’t be whopping it up on a “Diminished Value Win!!!!!” I’d still be pissed off I still have a car that with $14k in damages that is a wrecked car that isn’t going to be right most likely. But you go ahead and party.... I just won’t blow smoke... |
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01-23-2018, 05:34 PM | #14 |
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Some people are just post whores and many of their posts have no value.
Good for you, OP. I am happy for you. |
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01-23-2018, 05:52 PM | #15 | |||
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01-23-2018, 07:21 PM | #16 | |||
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OP wasn't excited that his car was wrecked and is now worth less. He was excited that his insurance company agree to pay a substantial diminished value claim which likely was a long and tedious process with an uncertain outcome. Seems reasonable to be joyous about recouping $7k from a bad situation. |
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01-23-2018, 07:31 PM | #17 | |
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Congrats! |
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01-23-2018, 07:36 PM | #18 |
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7k is really good considering your car had only 14k in damage. My father's X5 was hit head on from someone that lost control coming from the opposite direction. 17k in damages and we were only able to recoupe 3k in diminished value. Adjuster said there was no structure damage so they wouldn't give more. We paid someone for a diminished value report similar to yours. Cars financed with around 3k miles at the time of accident.
Congrats on recouping 7k to help relieving the hit you will take on resale. That's a win in my book! |
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01-23-2018, 07:40 PM | #19 | |
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01-23-2018, 08:28 PM | #20 |
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01-23-2018, 08:32 PM | #21 | |
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01-23-2018, 08:38 PM | #22 | |
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