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      07-29-2021, 11:23 PM   #1
pbar
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Diminished Value claims in SF area

Does anybody here have experience with claiming for diminished value in the San Francisco area? (too many online sites look like scams)

My 2017 M4 Comp was involved in a 5-car collision (while I was stationary at a red stop light!). I got sandwiched between two other cars and there's significant damage to both ends of the car.

The repair estimate is currently over $45K and the KBB value of the car in 'very good condition' is only $52K... but for some reason State Farm seem to be prepared to go ahead with the repair. So I'm expecting a really lengthy repair and to lose out big time when I come to sell the car! (even ignoring their limit of $600 for a crappy rental car!)

Has anybody successfully used a local diminished value claim company?
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      07-30-2021, 12:05 AM   #2
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I donít have any experience but just wanted to say I'm sorry to hear about your situation. Infuriating for sure.
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      07-30-2021, 12:57 AM   #3
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have them estimate it and get a check for that amount, then fix it for as cheap as possible and drive it for a long time lol.

I can't believe they won't salvage it, you're basically repairing everything?!
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      07-30-2021, 11:01 AM   #4
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That's so odd. Most insurance companies salvage a car if the cost is more than 50% of the current car value..
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      07-30-2021, 02:53 PM   #5
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Quote:
Originally Posted by SAADTHESAV View Post
That's so odd. Most insurance companies salvage a car if the cost is more than 50% of the current car value..
Yes, I was pretty shocked by both the estimate, and the fact that State Farm just paid the repairer.

With that much damage on the CarFax, I'm pretty sure I'd prefer it to be totaled at this point.
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      07-30-2021, 05:05 PM   #6
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Which body shop did you bring it to?
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      07-30-2021, 06:10 PM   #7
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Quote:
Originally Posted by MisterF80M3 View Post
Which body shop did you bring it to?
European Collision (the factory certified shop that BMW San Francisco uses)
Very diligent. But not cheap.
https://www.europeancollision.com/
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      07-30-2021, 07:34 PM   #8
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I dont know what you owe on your car, if anything, but is it possible to ask for it to not be repaired and just take the $45k payout?

Then either pay off the car loan or flip that onto a new ride?
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      07-30-2021, 08:26 PM   #9
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Quote:
Originally Posted by pbar View Post
European Collision (the factory certified shop that BMW San Francisco uses)
Very diligent. But not cheap.
https://www.europeancollision.com/
That place is definitely overpriced. I got multiple quotes in SF and they had the highest quote. Nearly twice as expensive as other places.

I would get the payout amount and bring it somewhere else for repairs. That's what I did.
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      08-03-2021, 12:14 AM   #10
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another possible way to get pay out.

I was involved in a small accident few years ago and soon after the accident, I needed to go away for a business trip for 5 months.

When I came back home, Mercury insurance sent me a check for the repair estimate which I didn't even asked for it. Their rule is after 6months of not taking care of the repair, they just send you the estimate for the repair minus the deductible.

same what other guy said, take the $45k and sell your car for $10K and buy something else for $55K.
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      08-12-2021, 12:08 AM   #11
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The process of claiming a DV is to get the car repaired first. After it is repaired, hire a company that specializes in diminished value appraisal. I am currently going through a DV claim on two of my vehicles. Here are the steps I had to take:

1. Established who is at fault. This was easy for me. There was a CHP report and the other party was found intoxicated. On the CHP report, it was indicated that the other party was 100% at fault. My other car, it was even more easy. The other party admitted 100% fault. Both incidents are rear end collisions.

2. I advised my insurance company of my intent to file diminished value. My insurance company stated that DV claim must be filed against the at-fault party's insurance company.

3. Repairs for both cars had been completed. I hired a company for the DV report.

Now the waiting game begins.
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      08-23-2021, 11:02 AM   #12
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Just to wrap this up...

After 5 weeks of estimates, supplemental estimates, and phone tag with State Farm, they finally referred my case to the total loss dept and offered to write me a check for significantly over the amount that KBB told me the car was worth. (and a lot more than I sold my previous 3-yo M4 for!)

I guess COVID is good for something.
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      08-23-2021, 11:59 AM   #13
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Quote:
Originally Posted by pbar View Post
Just to wrap this up...

After 5 weeks of estimates, supplemental estimates, and phone tag with State Farm, they finally referred my case to the total loss dept and offered to write me a check for significantly over the amount that KBB told me the car was worth. (and a lot more than I sold my previous 3-yo M4 for!)

I guess COVID is good for something.
Glad it all worked out, and I hope there are no lingering effects from the accident!
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