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Just got rearended, what has helped with diminished value claim


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Just got hit fairly hard in the rear (pics up soon) damage into trunk pan, kr exhaust destroyed, fascia, upper lower wrecked.

 

I will search and have seen threads on diminished value, what I want to know is what helped, hurt the claim?

 

Insured is with usaa, I am with geico

 

Construction from dulles 267 to dc 495., turn into a one lane through, driver was looking at another incident across the way and basically close 3 car lengths of gap before she saw me, brakes just before impact. I think she was cited for eithe failure to control, or to close, I was nice to the officer and tried to say it wasnt tailgating because she had distance. Its cut and dry her fault, no need to add another issue ie ticket , her car was bad off hope she gets it fixed or a new one.

 

Everyone was amicable, I did tell her this was going to be expensive, and I wasnt eve sure the fr500 s exhaust was available any more.

 

 

At least while its down I can get some service done, I want the dealer to drain some trans lube and check for debris as I have the 1-2 grind, I am going to add the new mgw shifter soon, if the repairs are good enough to keep the car. If I remember reading correctly some of the guys with grind had a lot of debris in the trans and needed synchros + other work. Might was well get the warranty stuff completed now, maybe it will rain for a week or so, I dont drive it on those days anyway, or its a good time for a business trip.

Edited by dbrisson
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USAA is a great insurance company....I am sure your back is hurting you, right? If his fault, at least USAA will replace everything back to new and damages - car and personal. It is a great Military insurance company....will take care of you better the the lizard. You should not worry too much about anything screwed out of anything. Just stay on top of if with his USAA adjuster and your agent.

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Most states don't allow diminished value claims as they claim the car is repaired to original condition...

 

Funny you should say that because Texas sure does. The point of diminished value is to make you whole in terms of the cars loss in value because it has been damaged. I don't care how good a body/paint shop is and how good a repair job is the car will be worth less money. If you were looking to buy a used Shelby and it came down to two cars but one had been in an accident that caused 5K worth of damage even if the repair was done well there is no way you would choose to buy the wrecked car unless the cost was less.

 

Most insurance companies know what diminished value is. When the repair is complete tell the insurance company you want to file a diminished value claim. The insurance company usually pays not the individual.

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Just got hit fairly hard in the rear (pics up soon) damage into trunk pan, kr exhaust destroyed, fascia, upper lower wrecked.

 

I will search and have seen threads on diminished value, what I want to know is what helped, hurt the claim?

 

Insured is with usaa, I am with geico

 

Construction from dulles 267 to dc 495., turn into a one lane through, driver was looking at another incident across the way and basically close 3 car lengths of gap before she saw me, brakes just before impact. I think she was cited for eithe failure to control, or to close, I was nice to the officer and tried to say it wasnt tailgating because she had distance. Its cut and dry her fault, no need to add another issue ie ticket , her car was bad off hope she gets it fixed or a new one.

 

Everyone was amicable, I did tell her this was going to be expensive, and I wasnt eve sure the fr500 s exhaust was available any more.

 

 

At least while its down I can get some service done, I want the dealer to drain some trans lube and check for debris as I have the 1-2 grind, I am going to add the new mgw shifter soon, if the repairs are good enough to keep the car. If I remember reading correctly some of the guys with grind had a lot of debris in the trans and needed synchros + other work. Might was well get the warranty stuff completed now, maybe it will rain for a week or so, I dont drive it on those days anyway, or its a good time for a business trip.

 

I see you're from Md. also. I had a 03 Terminator that was hit in the rear by a cell-phone distracted trucker. (don't get me started!). 14 K to repair it. Happened in 2004. I negotiated with Farmer's Ins. (his) for diminished value. I went to three SVT dealerships and got written estimates of what they believed would be my expected loss in value upon its trade-in or private sale. They all pretty much agreed on 5K . I presented these quotes to the Insurance company and although they didn't meet the 5K I was looking for, they came close and we settled. Thats the way I handled it. I think the more extensive the damage, the more" diminished value" monetary amount you could expect. Its not really an exact art and it seems like the negotiating process between you and her Insurance company is going to be the deciding factor. IE. what they offer and what you're willing to accept. The car was repaired to perfection and went to another owner when I bought an 07 GT500. And yes, I told the new owner about the accident and he was good with it. We both were happy. Hope this helps.

 

Your photos indicate not near the damage I had, so don't know what they would be willing to cough up. Good Luck!!

Edited by 03reptile
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Usaa said they are sending a diminished value document, should be interesting. $6500 is the current estimate, exhaust, bumper cover, lower panel, trunk pan, straighten frame area where the exhaust hangs, 4 wheel check and alignment, and much more.

 

While its there I am going to havbe the dealer drain the trans fluid and check for debri relating to the 1-2 grind.

Edited by dbrisson
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Funny you should say that because Texas sure does.

 

 

California and Colorado too!

 

And this I know FOR SURE.

 

 

Phill

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  • 3 weeks later...

Oh man.

 

Sorry for your loss.

 

Had a Transit Connect rear-ended 4 days into ownership - one of the first in North America, and BEFORE Ford had adequate parts stores to repair it.

 

Fortunately, the damage was cosmetically minor, knocking about $500 off the trade-in value as it was nothing functional and just a 3" crease to the bumper. Nevertheless, $4,500 in damages. Wound-up trading-in the van for another and doing reasonably well on the deal. :)

 

What really sucks about diminished value, if your state allows it, is how subjective it is - which it may NOT if OEM parts are used. But once it hits the CARFAX, you've taken it in the backside TWICE.

 

I've already spent about $1,600 fixing cosmetic scuffs (thrown mud flap, etc.) just to keep her tip-top, as much as a matter of discipline, knowing it's a slippery slope. It'd be nice if there were state statutes requiring other motorists to maintain 1,000 ft. clearance from all GT500's - under penalty of death.

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Hope to have it back Thursday or Friday this week. Even more damage found was inside, the fuel tank pan / tray, and exhaust intermediate pipe were tweaked and also replaced along with a track link, I think the lower control arms are fine. It goes to alignment Monday to check for any last issues. The dealer Crouse Ford in Taneytown Md has been great to work with and have given periodic updates. Of course on pick up day I am taking off work to get there early and inspect the car before I accept it. So far no word from the insurance company on the diminished value papers I filed but as the damage keeps going up so does my mental level on what I will accept.

 

Supposedly there is a 2012 Kona blue SVTPP with NAVcoming to Norris Ford somewhat nearby that I may look at. Although I often contimplate waiting until the 13s are out. If I keep it for now I am going to get the MGW shifter and a set of the WIndow Scoops, although the VOSSEN wheels on the Red car in the earlier thread look nice, or a set of 2012 wheels would be nice.

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