Diminished Value Claims
#16
No but I used http://www.ican2000.com/dvfaqs.html
I've been through two accidents with my previous M3's and won diminished value awards both times. I live in CA. The insurance company low balled me and only offered about 25% of what I got by going to small claims court ~$5k. This guy will give you a wholesale and retail DM via mail. He outlines the DM algorithm used. I used this for 1 of my estimates for the judge and he was ok with it. I also had a dealer BMW dealer estimate. Don't go to CarMax etc...
The insurance co. must make you whole by law. It's a bit of work, file forms, got to court etc..but worth it. The insurance co don't have much of a leg to stand on and judges are pretty sympatric to your situation so will give you top $.
Good luck. Hope this helps...
I've been through two accidents with my previous M3's and won diminished value awards both times. I live in CA. The insurance company low balled me and only offered about 25% of what I got by going to small claims court ~$5k. This guy will give you a wholesale and retail DM via mail. He outlines the DM algorithm used. I used this for 1 of my estimates for the judge and he was ok with it. I also had a dealer BMW dealer estimate. Don't go to CarMax etc...
The insurance co. must make you whole by law. It's a bit of work, file forms, got to court etc..but worth it. The insurance co don't have much of a leg to stand on and judges are pretty sympatric to your situation so will give you top $.
Good luck. Hope this helps...
#17
Got my baby back on Friday Dec. 23. Including the supplemental damage, the total bill came out to $12k. I called the other driver's insurance company to inquire about a DV claim. I literally had to explain what DV is to the agent. (You can't make this up...) And so begins the upward fight to be made whole. :-(
Thanks for the link, sf911c2. I'll check them out, too. I have a feeling I'm going to be following in Telum's shoes and needing a lot of documentation.
Thanks for the link, sf911c2. I'll check them out, too. I have a feeling I'm going to be following in Telum's shoes and needing a lot of documentation.
#18
I'm curious if anyone who has been through a diminished value claim has used The Saint Lucie Appraisal Company? They seem to have a presence in all 50 states and their website *seems* pretty legit. But I've never been through this and I'm curious if anyone has recommendations for/against any particular independent appraisers to help in building the documentation necessary to fight the insurance company's inevitable lowball offer (formula 17c)?
#19
UPDATE: I received my diminished value report back from St. Lucie. I have to say pretty thorough. As Curly_Sue mentioned, it includes quotes back from six Aston Martin dealerships comparing my car to a hypothetical equivalent car with an untarnished history. Lowest hit = 12.50% and highest = 17.86%. I just submitted the report to the other guy's insurance company. We'll see what they have to say...
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