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Diminished Value Estimate


crazydave

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I am trying to get Insurance company to compensate me for Diminished Value.

 

I'm the guy who had fender and suspension parts replaced after a Road Rage incident.

 

Damage was less than $2K, but now there is a CarFax Report saying my Shelby was in an accident.

 

And, the paint does not quite match perfect between new fender and door. (Repair shop did as best as could be expected)

 

I know my 07 Shelby GT is not worth as much as it was before the accident (perfect condition, 30K miles).

 

What should I be demanding for compensation? Any experienced owners out there?

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I will be hard to get compensated from the insurance company! I went through it on my wifes Mercedes and it never worked out even with legal threats beacuse there is no clear cuts laws, yet. Good luck and just an FYI, when our car went CARFAX we ended up selling it as it was branded for ever ! Sorry man but the diminished value thing is huge and they have not put proper laws in place yet.

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I will be hard to get compensated from the insurance company!

 

I've already been offered an amount $$$ to settle claim. Just wanted to know if I should receive more,

or if there is a magic formula...

 

Kelly Blue book drops value $1200 (Excellent to Good condition) with the "Never had any paint or body work and is free of rust."

disclaimer for Excellent.

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Good luck! Regardless of final settlement I think we would all be appreciative of details, or at least make it availible thru PM. Your case could set a bar for what is fair and reasonable if anyone of us is unlucky enough find our selves in the same spot.

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If they said they'll give you 3600 bucks to forgive the DV.................that is incredible. As I said before the laws are vague and in the insurance companies best interests. I have a hard time believing it, but if it is true and you haven't taken it you better because if the underwriter boss gets a hold of this you'll get a few hundy, the law is on their side unfortunately. Run and don't stop until you get the coin!

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Wow, I'd better give more info before people think I'm getting rich off this.

 

First offer was a laughable $150, second offer was a whopping $500.

 

I turned on some violin music in the background and faked a heart attack.

Then she asked, what was I looking for?

 

Stay tuned, she has not come back yet with probaby the final offer. I'm going

to settle for this next offer. I have better things to do. I gave it my best.

 

Crazy in Texas.

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Insurance lady just called and said, "due to the amount of damage, we can only give you $700."

Pretty much take it or leave it.

 

I'll take it, as I now have $700 more than I had just a few minutes ago.

 

Lessons learned:

 

a. You can get DV from insurance company when it's not your fault.

b. It takes violin music and at least 3 phone calls.

c. Be polite.

d. Take the 3rd offer.

 

I could start a lawsuit and probably win with a $3000 award. But the lawyer would get $2900.

 

Happy now.

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Insurance lady just called and said, "due to the amount of damage, we can only give you $700."

Pretty much take it or leave it.

 

I'll take it, as I now have $700 more than I had just a few minutes ago.

 

Lessons learned:

 

a. You can get DV from insurance company when it's not your fault.

b. It takes violin music and at least 3 phone calls.

c. Be polite.

d. Take the 3rd offer.

 

I could start a lawsuit and probably win with a $3000 award. But the lawyer would get $2900.

 

Happy now.

 

 

Good job. Those people really care what a bad CARFAX does to a car........it makes it appear like it has been in a serious accident and worth much less. Ours too was a fender bender with a car running into the door as we opened it up in a parking lot. We finally traded my wifes mercedes in and it was worth thousands less than a car of like and kind year make and model that had no damage. They will pay dearly one day!

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Damn, that's not near as much as I thought. I hate to say it, but the car's value took a hit bigger than $700. But, that's life I guess. Heh, and insurance companies wonder why people don't want to report anything.

 

 

 

And they also wonder why people want everything when they get their car or property damaged, because of issues like this. Uncool and unfair.

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As I get older and wiser, more and more things become apparent about living here on planet earth.

 

The good things:

 

1. The love of a good woman (when she is in the mood).

2. Trust in family members (Ronald Reagan once said "Trust, but verify")

3. You get back what you give (except for tax money)

4. We can all march to the beat of a different drummer (get your own iPod)

5. Our children are our future (when Medicaid is dropped)

 

The bad things:

 

1. It's dog eat dog out there (don't be a Chihuahua)

2. Everything that you do, will come back to you (you deserve it)

3. Insurance companies and Lawyers are here to help (themselves)

4.If you work hard, the government will be rewarded.

5. God may actually be taking notes.

 

Crazy Dave

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