[meme]

My 5 month old 335 got rear ended a week ago and the body shop discovered that the quarter panel, along with the bumper, tail light, crash bar ...etc need to be replaced. The estimate is $10,000 for now.

The other guy's insurance company is state farm and I am thinking about filing a diminished value claim. Does anyone have experience with a diminished value claim? Any suggestions on how to go about this are much appreciated.

[bily]

Originally Posted by meme

My 5 month old 335 got rear ended a week ago and the body shop discovered that the quarter panel, along with the bumper, tail light, crash bar ...etc need to be replaced. The estimate is $10,000 for now.

The other guy's insurance company is state farm and I am thinking about filing a diminished value claim. Does anyone have experience with a diminished value claim? Any suggestions on how to go about this are much appreciated.

You have to finish your repairs first then you can make the request of the person handling your claim. The insurance company will likely use their formula which will be rediculously low, and you can try to negotiate with them or you can hire a 3rd party service to help put together you case. These services usually charge between $150 and $400, but with significant damage it will likely be worth the money. On 10k you are easily looking at $4k if not more. Depends on the value of the car.

[k04]

Not sure exactly what's being replaced/repaired besides what you've listed, but that seems a bit steep. GL with everything

[tntsE90]

Does your state allow "Diminished Value" claims? From my understanding when it comes to auto insurance, many states do NOT allow diminished value claims for auto accidents.

[john08135i]

I tried with state farm last year. It was very difficult and i gave up.

[FC4]

Filing for diminished value from an insurance company is under the list of things you only hear about on the internet and not in real life. Don't waste your time...accept it as part of owning a vehicle and move on.

[bily]

Originally Posted by FC4

Filing for diminished value from an insurance company is under the list of things you only hear about on the internet and not in real life. Don't waste your time...accept it as part of owning a vehicle and move on.

Not true at all. Assuming your state doesn't have a statute prohibiting it. In fact SF is the Ins Co that was sued and lost that changed DV for all of us.

Get your repairs completed and the talk with the claims handler. They will likely give you a number. It will probably be lower than it should be and then you can get a 3rd party appraisal or just negotiate on their offer. Be prepared to explain why you deserve more. If you IM me I can send you some of the paperwork these independent companies use. It has the language that gets their attention and it will appear you are knowledgable on the process.

On my wife's Volvo XC90 first crash $900, second crash $4800. Third crash, yes 3rd, $2400. Waiting for the fixes on my car to be completed to file. But they already told me who internally would be handling it.

[OC40]

Originally Posted by bily

Not true at all. Assuming your state doesn't have a statute prohibiting it. In fact SF is the Ins Co that was sued and lost that changed DV for all of us.

Get your repairs completed and the talk with the claims handler. They will likely give you a number. It will probably be lower than it should be and then you can get a 3rd party appraisal or just negotiate on their offer. Be prepared to explain why you deserve more. If you IM me I can send you some of the paperwork these independent companies use. It has the language that gets their attention and it will appear you are knowledgable on the process.

On my wife's Volvo XC90 first crash $900, second crash $4800. Third crash, yes 3rd, $2400. Waiting for the fixes on my car to be completed to file. But they already told me who internally would be handling it.

How much did your insurance "diminish?"

[tntsE90]

Originally Posted by bily

On my wife's Volvo XC90 first crash $900, second crash $4800. Third crash, yes 3rd, $2400. Waiting for the fixes on my car to be completed to file. But they already told me who internally would be handling it.

Bit confused, so the $900, $4800, and $2400 is what State Farm paid you as the "Diminished Value" AFTER they paid the body shop repair bill?

[bily]

Originally Posted by tntsE90

Bit confused, so the $900, $4800, and $2400 is what State Farm paid you as the "Diminished Value" AFTER they paid the body shop repair bill?

Actually it was the other parties insurance as they were at fault in all 3 cases. One was Geico and I think the other 2 were SF.

In my latest adventure I had a first party claim against my insurance co and I will request DV as well.

The newer and higher the value the more you will be paid. Based on age of car, amount of damage and type of damage.

If you don't ask you won't get. They are not going to ask you if you want it.

[tntsE90]

Originally Posted by bily

Actually it was the other parties insurance as they were at fault in all 3 cases. One was Geico and I think the other 2 were SF.

In my latest adventure I had a first party claim against my insurance co and I will request DV as well.

The newer and higher the value the more you will be paid. Based on age of car, amount of damage and type of damage.

If you don't ask you won't get. They are not going to ask you if you want it.

It appears GEORGIA is one of the States that allows Diminished Value Claims from my search online. Anyway, for us all, check your state law before you mention "Diminish Value" claim with the Insurance company.

[G30 B58]

Originally Posted by FC4

Filing for diminished value from an insurance company is under the list of things you only hear about on the internet and not in real life. Don't waste your time...accept it as part of owning a vehicle and move on.

BS.

Here is a NJ case with my friend and his mint S2000.

http://www.s2ki.com/s2000/topic/1058...t__p__23055500