Diminishing Value Report
I was just rear ended
while waiting for traffic light to turn green. Lucky I was not in my Porsche but in my Audi A6. The trunk, bumper and side fender are damaged. Worst of all, I think the lady was drunk/drugged becasue she was not very coherent when she was talking to me and it seems like she want to leave the scense as quickly as possible. While she gave me all the insurance info,she did not even bother to get mine. Does anyone know about how to go about filing a Diminishing Value Report. Should I mentioned this up front to their insurance company and ask for it in good faith? Please Advice
. Thanks in Advance.
while waiting for traffic light to turn green. Lucky I was not in my Porsche but in my Audi A6. The trunk, bumper and side fender are damaged. Worst of all, I think the lady was drunk/drugged becasue she was not very coherent when she was talking to me and it seems like she want to leave the scense as quickly as possible. While she gave me all the insurance info,she did not even bother to get mine. Does anyone know about how to go about filing a Diminishing Value Report. Should I mentioned this up front to their insurance company and ask for it in good faith? Please Advice
. Thanks in Advance.
Exactly, plus how do you know her paper work is legit, I was rear ended about 6 years ago and then all the info she gave to police on her insurance was fake, she never had a policy with them.
Sometimes your insurance carry will pursue a diminishment in value claim for you against the other insured. All depends on your policy. Sometimes you have to settle the actual damages claim and pursue the dimished value damages claim directly. You'll need to get some independ third party apprasials.
Even if they don't have insurance, you can file diminished claim under your own policy for un-insured motorist. It doesn't affect your rate in Texas, anyway. Not sure about Cali. Find a company that handles diminished value to do an appraisal and write-up for diminished value after your vehicle is repaired to your satisfaction. I just went thru this process with my Porsche and got a fair amount back. I am also currently filing diminished value for my Lexus which was rear-ended at 45 mph at the light.
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Start by calling her insurance company and filing a claim.
I think you are jumping the gun to get an attorney. For a property damage claim, it usually is not worth it. They will take 30% and I doubt they will increase your settlement by that much. You should get an estimate for the actual repair. Then, do some research about how much your car is worth in the current market. See if you can find a comparable one for sale that has been in an accident. Ask for that difference as the diminished value claim. Alternatively, get a written statement from an independent claim adjuster or just from your body shop that sets a value of the diminished value of the car after the accident. You should not expect this to be big $$. Unless the car had significant damage, cosmetic repairs usually do not garnish big diminished value payments.
Good luck.
I think you are jumping the gun to get an attorney. For a property damage claim, it usually is not worth it. They will take 30% and I doubt they will increase your settlement by that much. You should get an estimate for the actual repair. Then, do some research about how much your car is worth in the current market. See if you can find a comparable one for sale that has been in an accident. Ask for that difference as the diminished value claim. Alternatively, get a written statement from an independent claim adjuster or just from your body shop that sets a value of the diminished value of the car after the accident. You should not expect this to be big $$. Unless the car had significant damage, cosmetic repairs usually do not garnish big diminished value payments.
Good luck.
uhhh YAH! +1 to the google power ^^...........WTF, rear ended and no police report??
what were you thinking man?
what were you thinking man?
Ok...I had the same thing happen and wanted to get diminished value for my 911... go to www.autoloss.com ... it is the Appraisal GRoup of America and for a small fee thy will do a full diminished value report on your car and fax it to the adjuster...





