ssmoked

i recently got rearended at 5 mph with decent scratches on the rear bumper so the police was called and documented the case. Since the accident will be documented under my VIN number and any potential buyer in the future can see/argue for a lower price, is it possible/legal to argue to the opposite insurance company for settlement that the car has suffered more damage/depriciation than just the repair itself? any lawyer or plain advice would be appreciated

thanks

4TehNguyen

iTrader: (1)

the term is called "diminished value" you usually can claim it

slee18

iTrader: (1)

I dont think that will work unless you hire an lawer for that. If that is the case is it worth the cost of hiring a lawer? Good luck to you!

ssmoked

my car is only 3 weeks old when it was hit. do you think i can actually win "diminished value" from the other insurance without getting a lawyer??
does anyone knows somebody that actually received money for diminished value?

the funny part about this accident was i am on my way to the dealership to see how much they would give me for my manual IS for an auto IS. now i guess i am going to take an even harder hit with the trade in value

Irishman06

Sometimes easier to just go out of pocket for minor accidents than involve the cops...

ssmoked

i don't see why i should use my own money to fix something that the other driver has caused. he did offer to settle without calling the cops but what if he bails and i am stuck with the repair bill

Evitzee

You shouldn't have to use your own money in a perfect world. But we don't live in a perfect world. Sometimes you just have to suck it up and cover the minor inconveniences in life.

juicius

I'd definitely call the lawyers. Generally speaking, low speed collisions like these with no catastrophic injuries are settled almost all of the time. The cases are worked on by paralegals and other support staff with a varying degree of attorney supervision. Because the firms handling these tend to be volume operations that have relatively little attorney time investment, you may be pleasantly surprised at the rate and you may be able to walk away with enough money to make it worth your while.

Scottina08

iTrader: (1)

file an insurance claim.....get the car repaired....then file the diminished value claim. You dont need a lawyer as there are statuates in most states that cover diminished value. Just call your states dept of insurance. All you have to do is file the claim.....then get your vehicle appraised....have them give you an appraisal of the valur before and after the accident.....the insurance owes you the difference. You can use a used car lot, Lexus dealer or independent appraiser to get the values. I have done this 2x and netted $3000 on one vehicle and $2000 on another.

wednesday

I received $4,000.00 diminished value for my accident, but it isn't nearly enough because my car had the fender replaced which means new welds visible (dealers told me they assume frame damage because of this). I had to pay an independent appraiser to prepare documentation to submit to the insurance and then I had to fight with them just to get the measly amount that I did. The appraiser cost $400.00. BTW my car was 4 months old :-(

wednesday

Oh I forgot to mention, Florida has no laws regarding diminished value so you are on your own. I called the insurance commissioners office. I have thought about writing my state representative and Gov. Crist because this is a legitimate problem.

Scottina08

iTrader: (1)

yes...there are some companies on the internet to help you as well. One quoted me $400. I am in the process of filing this on my 99 3000gt. My wife was rearended....did $2k in damage. the car was pristine with only 32K miles and no repair history. I was told by the independent company i could get $4k.

wednesday

I hope it isn't the company I used. They told me they could get me at least $9,000. (my car had $11,000 damage) They wrote the claim for $15,000 and the insurance company pretty much laughed in my face. They also claimed to be there to "go to bat for me" After they got the $400.00 fee, I couldn't even get in touch with the appraiser by phone and there was no such "going to bat" for me. I was given a generic document of possible scenarios and what to do, none of which helped. Needless to say I was a little bit disappointed with them.

ssmoked

what company was that. please inform me so i don't go through the mistake
thanks

Evitzee

They ripped you off for the entire settlement?? I would have gone to the police, and hired an attorney. And hired Tony Soprano to boot.