Does insurance do that here in CA ?

My car won't be totalled since the frame was not damage, and cost in parts is only 13k (with the bodyshops markup prices ) so it's not that bad as it seemed. My next question is, how do i approach my insurance for diminishing value? what do i say/state etc? any tips!?

Thanks guys!

Enrique

 

Are you dealing with your own insurance company? If so, tacking on more "damages" would certainly have a negative effect on your premiums.

If you are dealing with the insurance company of a party that hit your car, then I would do two KBB printouts, one at excellent condition and one at poor condition and ask them for the difference in value.

 

thanks for the advice I'll do that.

I communicate with my insurance. The other party was found responsible, i have not been told im paying anything. But i rather have them do all the leg pull. Thanks

 

definitely can be done, all I read everywhere is that it is very hard.
My mom's sl500 was totalled with 500 miles on the clock, still the insurance decided to cover the 50K of damage rather than to replace the car. She got a lawyer that specializes in that stuff and I think she ended up with $30K in loss of use and diminished value. This is after they spent $60k to repair and money for rentals etc... They probably ended up spending more than 150K in repairs and compensation. insurance companies sometimes dont make much sense

 

I don't know how KBB value will help you establish dim value. When car is fixed, it's not in "poor" condition.

Raffi
How did lawyer build a case for dim value?

 

Its just a starting point for negotiations. Some of the KBB criteria concerns repair work and paint work. If you read the criteria for each, you'll see www.kbb.com

 

My brothers wife got her Jag. rear-ended and he tried to get some extra money for loss value from the other parties insurance, with no luck. He ended up slaping them with a small claims suit with all the estimates he collected on loss value. Right before the court date, they settled for around 3,500, I think the suit was for 5,000 dollars, the limit for small claims. I think the small claims avenue is good if there is only a few thousand dollars of loss. If you claim is much bigger and you went to a civil court, I think the insurance company would run and settle, especially if your attorney made it clear he might go into the "loss value" business ,which I feel would be a good niche for some attorney out there. Good Luck--- Loss Value is something most people do not know about and the insurance companies are happy they don't know

 

if you are lookin for a good body shop cal carlos atdell auto body in campbell ca. lots of great cars in his shop f cars bentlys hot rods not a for door banger anywere....

 

I've been through this before (I received $$ for Inherent Diminished Value).

A uninsured motorist hit me in my Mach 1 and my insurance company, USAA, paid me a few thousand $$ extra *on top* of the cost of repairs. All I had to do was ask them for it...and then allow a DV appraiser of their choosing come and inspect my car. I received a fair amount of money for my efforts so it was well worth it.

Here's some more basic info for you to peruse:

http://www.ican2000.com/dvfaqs.html

 

They just look at the value of the car before the accident, and then figure how much the car can be sold for now after 60K of damage.
They just added all that stuff, there are lawyers that specialize in all this stuff, just dont mess around and get one.
Dont let anyone tell you it cant be done. Its not easy but it can be done. I honestly think my mom had to wait around a year to finally get her $30K check, she was also out of her brand new car for a few months while it was basically being rebuilt from scratch...

 

Someone rear ended my buddy's M3 a few months ago. My friend is using this guy, im not sure the outcome yet, but it's something to look into at least.

http://www.collisionclaims.com/

 

Insurers will tell you "we don't pay dimished value". BS

As a practice they try not to, but they will if forced.

If you are claiming for damages under YOUR comprehensive policy, then yes, that CONTRACT may have excluded diminished value.

But if someone else damaged your car, then they are LIABLE for you losses- forget about insurance. His insurance company cannot tell YOU 'we don't cover it'... your response is to say, "I've suffered a loss, my car took $20k to fix, and even if it LOOKS perfect, I will not be able to sell it for what I could prior to your insured damaging it. He owes me for the diminished value"

Fixing the amount is difficult. I am shopping for a 996TT and just saw one in which they disclosed an accident from several years earlier- that car will NOT sell for the same price as one with 'no paint history'..undeniable- it is already priced 10k under the competition. I'd open with 15k, give them a range if pressed at 10-15k, and be happy if you settle at 10k. Kind of also depends on how long you plan on keeping it- older cars suffer less since there is just less underlying value there.

The diminshed value will be the difference in that car selling on the market today, one with no history, the other with history. You know the members here... how many would say, with a carfax showing a major collision- 'eh, no big deal'?

Good luck- Unless you feel pretty comfortable with this poker game, talk to a lawyer.

A

PS Found this: http://www.autoclaimshelp.net/BSB_magazine_story.htm Read the green box about the porsche...sound familiar?