[Tag]

My bimmer was hit just before the 4th weekend. http://www.e90post.com/forums/showthread.php?t=403831

I'm still in the process of fighting who's at fault but am confident I will win since I have police as witnesses. I've never filed a diminished value claim before. If its the other persons fault can I get my insurance to file the diminished value claim on my behalf or do I have to do that part on my own?

Also does anyone know if diminished value claims are different from one state or city to another?

Any info is appreciated, thanks.

[Kolyan2k]

Originally Posted by tag824

My bimmer was hit just before the 4th weekend. http://www.e90post.com/forums/showthread.php?t=403831

I'm still in the process of fighting who's at fault but am confident I will win since I have police as witnesses. I've never filed a diminished value claim before. If its the other persons fault can I get my insurance to file the diminished value claim on my behalf or do I have to do that part on my own?

Also does anyone know if diminished value claims are different from one state or city to another?

Any info is appreciated, thanks.

yes, its state dependent. For example I dont think its possible in MA.

by looking at your car the damage is pretty minor and if its not in carfax then you shouldnt worry about loosing money when selling

[JFU]

hey tag, dont use autoloss.com i fell into what im pretty sure is a scam.
in my rush to get a diminished value appraisal i got screwed =(

make sure u go for one that does not make u pay an upfront fee until you get the settlement that you want! stay with local, registered appraisers. search around on the internet and u should get some good hits. good luck!
man i lost 300 bucks for nothing.

[advocado]

Another thing you should claim is "loss of use" damages. Unless your loaner is the same type of car that was damaged, you are entitled to loss of use based on the fair rental value of a car similar to yours (a Corolla is NOT "similar" yours). It makes no difference if you were driving your wife's car. You lost the use of YOUR car.

[JFU]

Originally Posted by advocado

Another thing you should claim is "loss of use" damages. Unless your loaner is the same type of car that was damaged, you are entitled to loss of use based on the fair rental value of a car similar to yours (a Corolla is NOT "similar" yours). It makes no difference if you were driving your wife's car. You lost the use of YOUR car.

great advice i m going to try to see if i can recoup that too to try to offset the money i got scammed out of =( good luck tag! an accident is such a pia =(

[Tag]

Originally Posted by advocado

Another thing you should claim is "loss of use" damages. Unless your loaner is the same type of car that was damaged, you are entitled to loss of use based on the fair rental value of a car similar to yours (a Corolla is NOT "similar" yours). It makes no difference if you were driving your wife's car. You lost the use of YOUR car.

LOL, how did you know my rental is a Corolla? So I go after this just the same as I would for diminished value? I don't know, it doesn't sound like I would get much out of this.

[advocado]

Originally Posted by tag824

LOL, how did you know my rental is a Corolla? So I go after this just the same as I would for diminished value? I don't know, it doesn't sound like I would get much out of this.

It may depend on the state you're in. In California loss of use is a recognized element of your damages. Diminished value is usually not (except for exotics). Expect the adjuster to resist, but stand your ground. Remember, in your case, you will be dealing with the insurance company for the other guy and you do not have to accept $20 per day rental value. If you are dealing with your own company, you may have a limit as to the allowed cost for rental. Check it out before you start holding your breath and stomping the ground...

[saalim]

Originally Posted by tag824

My bimmer was hit just before the 4th weekend. http://www.e90post.com/forums/showthread.php?t=403831

I'm still in the process of fighting who's at fault but am confident I will win since I have police as witnesses. I've never filed a diminished value claim before. If its the other persons fault can I get my insurance to file the diminished value claim on my behalf or do I have to do that part on my own?

Also does anyone know if diminished value claims are different from one state or city to another?

Any info is appreciated, thanks.

I got hit 2 weeks ago and I am looking into filing some sort of "Diminished Value" claim as well.

http://www.e90post.com/forums/showth...&highlight=hit

I went through my insurance to get the car fixed because the other persons insurance was just dragging their feet. It will be at least another 2 weeks before I get my car back and until then, I am stuck with a Hyundai rental!

My insurance has already finished their investigation and ruled that that accident is not my fault. Going to make some calls today and find out the following:

a. Process around a filing Diminished Value claim in NJ
b. Try to get my rental upgraded

[Tag]

I emailed my agent who's investigating my claim and asked if they can pursue for diminished value for me. I haven't heard back from him yet. I would appreciate it if you can share how you were able to make your claim once you do so.

[Kolyan2k]

You people get stuck in shitty rentals, but it costs like $50 bucks per year to get $50-60 per day rentals.

[Tag]

You're quick to judge. My rental coverage is maxed out for a car rental. A corolla was the best they had when I went in. I can go back and see f they have something better as time permits.

[IancoleTX]

Dude you need to get that motherf#&*er for every penny you can for trying to screw you like he did

[saalim]

Originally Posted by tag824

I emailed my agent who's investigating my claim and asked if they can pursue for diminished value for me. I haven't heard back from him yet. I would appreciate it if you can share how you were able to make your claim once you do so.

Just talked to my insurance claim handler. She said:

• The "Diminished Value" claim is technically not recognized in NJ
• Even if I want to file such a claim, it would have to be done when I am about to sell the car
• I will have to show proof that accident affected the resale value
• I will have to file the claim with the other insurance company
• The other insurance company not not legally obligated to accept/process any such claims because its not a state law

Well, so much for that!

[Mech_Man]

Your leverage depends on if it is legally recognized as your fault or theirs. If it's yours (or not provable), then you have to follow your insurance companies lead.

If it's their fault, you don't HAVE to agree to accept the deal the other insurance company offers you. You can threaten, or actually take the other car owner's insurance company to (Small Claims?) court. That gives you additional leverage. If that doesn't work, then use your own insurance as a fall back, and hope they collect enough to refund you the deductible.

I would be concerned about what your agent said about how much to claim for Diminished Value. Waiting until you sell your car can't be right. There would be extra wear and tear and possible damage that would blur your current claim. Get the name of a repair shop that is accepted by your and their insurance companies, and go there and have them provide you with an Expert Estimate of the lose of value to the car, assuming the current damage is repaired back to factory recommendations, as done by them. That is the value you shoot for.

Also, be aware of the acts you take that keeps the pressure on the other insurance company. Like: refuse to allow them to take possession of your car from where it was first towed, to move it to their own (less expensive daily storage) lot. Insist on an equivalent car as a loaner.

[allseasons]

Diminished value does vary by state. Some recognize it while others do not. Connecticut is one of the states that does recognize it. I had a $1600 claim on by 2011 3-series and the DV on it is $2900. Given the complexities of DV, I chose not to pursue it myself but am having an attorney do it. Some information I've found helpful is found at http://matthewforrestlaw.com/diminished-value/. DV is a new concept but people should know when they have the right to pursue the value their car has lost due to an accident that isn't their fault.

[weaves335i]

I had my 540i Dinan, rear ended here inSt Louis, I fought for diminished
and won, it all depends on your attorney, and the state your in.
GL!

[3er]

I had to file the depreciation claim myself, as my insurance company (State Farm) wouldn't work with their insurance company (Progressive) since it was the other party's fault. I also hired a 3rd party appraiser ($300-$400) that inspected my car after the repairs and provided a very detailed deprecation report (I can send it to you if you'd like to get an idea of what they look like). I then faxed it to Progressive prior to having my car inspected by them. After that, I went to Progressive's appraisal center (part of the depreciation process) and they looked the car over. My 3rd party estimate of $7,000 was damn accurate (as I verified later when trying to sell the car!), but Progressive came back with a first offer of $1,000. I was livid and let the Progressive rep have it for about 30 minutes. They came back a week later with $2,500. After negotiating more and speaking to the supervisor, I realized that I was getting nowhere. I talked to my friend's brother who is a lawyer (corporate) and he talked to one of his lawyer friends that specializes in auto accidents, etc. Unfortunately, I soon found out that lawyers will not waste their time fighting depreciation claims because there's not enough in it for them. Unless there's something else wrong (e.g., injury), I think you'll find that most lawyers won't waste their time fighting a $7,000 case (maybe I'm wrong?). I assume Progressive knew this and is why they wouldn't budge on their lowball offer. I eventually accepted and figured that life happens. I hope you get what you deserve, but my story may also prepare you for what may be a very similar situation.

[Mech_Man]

Originally Posted by 3er

I had to file the depreciation claim myself, as my insurance company (State Farm) wouldn't work with their insurance company (Progressive) since it was the other party's fault.....
... most lawyers won't waste their time fighting a $7,000 case ...

I had my e36 rear ended by an inattentive taxi driver and had to fight his insurance company in a similar way, and ended up getting compensated by my St Farm policy (less the deductible). I was surprised to find out that a few months later, my SF had even gotten that from the other insurance (Farm Bureau).

FYI:
One trick I didn't try, was to try to get full compensation via Small Claims. That was because in NC, the limit is $5000. But I know other places have larger, sometimes much larger small claims limits. I had a non-automotive problem once and found out that GA had a limit of $15k, so there, it would have been worth it.
This only works if it is the other drivers fault, and that fact isn't in question. So instead of negotiating between insurance companies, you take them to court and let a judge decide what is fair. (And all that well-spent effort on the appraiser would be significant evidence).

[middleagedhippie]

Originally Posted by saalim

Just talked to my insurance claim handler. She said:

• The "Diminished Value" claim is technically not recognized in NJ
• Even if I want to file such a claim, it would have to be done when I am about to sell the car
• I will have to show proof that accident affected the resale value
• I will have to file the claim with the other insurance company
• The other insurance company not not legally obligated to accept/process any such claims because its not a state law

Well, so much for that!

You are taking legal advice from an insurance adjuster???? Big . . Big Mistake. Diminished Value is a legitimate damage, so although it may not be covered under your collision coverage, it is something the guy who caused the accident should be responsible for. The issue is whether the car is worth x dollars immediately after the accident as compared to immediately before. That's how damages are generally measured. Only some of that is rectified by repair. That's how you measure the damages, not when you sell it. If you wait until then, you may well let the Statute of Limitations pass. The damage was caused you AT the time of the accident and that is when the Statute begins to run. All you need to bring your claim now is somebody who can tell you how much less value your car is NOW as opposed to what it would be worth if it was not in the accident, even if properly repaired. The other insurance company is liable to defend its insured and it is hard for me to believe any State says that diminished value is not recoverable from the person who caused the accident, although I don't know this for sure. But NEVER listen to an Insurance Adjuster. They are not attorneys, they rarely know the law and they don't care about you.

[BQTuning]

If you got GAP when you bought your car then you shouldnt have anything to worry about

[middleagedhippie]

Gap is only applicable if the car is totalled, not repaired. The issue here is measuring and recovering the full extent of damages caused by a negligent driver, including diminished value which is a legitimate and recoverable damage.

[swin500]

Originally Posted by Kolyan2k

yes, its state dependent. For example I dont think its possible in MA.

by looking at your car the damage is pretty minor and if its not in carfax then you shouldnt worry about loosing money when selling

It's a dent in the hood. It's not like Cameron Frye is your best friend and you're driving his dad's Ferrari. Just get it fixed and move on with your life... your car isn't going to be on the Barrett Jackson auction block anytime soon or ever.