Got hit while parked
10-06-11, 11:35 AM
#16
Essentially it's a payment from the insurance company reimbursing you for the loss of the value of your vehicle due to the accident. It derives from the theory that even if your car is repaired 100%, having an accident on your record will make it worth less on the resale market. Here's an explanation of it: http://insurance.lawyers.com/auto-in...hed-Value.html
Ability to recover this varies by state. States don't usually have laws that say "Diminished value claims OK" or "not OK" - it's all buried in case law, or put another way, what courts have allowed or not allowed in the past. From this description of New York's case history on diminished value, it looks like NY case law supports recovery of diminished value:
"New York: In Edwards v. Maryland Motor Car Ins. Co., 197 N.Y.S. 460 (N.Y. App. Div. 1922), the court held
that diminution in value is damage embraced within the clause of the policy insuring the plaintiff against direct
loss or damage by the peril of theft. The policy contained language that the insurance company had the
option to “repair, rebuild, or replace the property lost or damaged with other of like kind and quality.” The
court found that “diminution in value is damage embraced within the clause of the policy insuring plaintiff
‘against direct loss or damage’ by the perils of ‘theft, robbery or pilferage.’” The court went on to state that
the liability is not severed by making the insurance company liable for actual cost of repairs or replacement.
The court notes that this case allowed recovery for diminished value by finding coverage in another section
of the insurance policy and not due to any obligation to repair the automobile with like kind and quality. In
Miller v. Sanchez, 6 Misc.3d 479, 789 N.Y.S.2d 850 (N.Y. City Civ. Ct. 2004), the court accepted the
difference in value as the proper measure of tort damages."
You can do some more research online and you can ask your own local insurance agent about it, but you absolutely should contact their insurance company stating you want to make a claim for diminished value. I think from there appraisals are involved, etc. But another CL user that had a no-fault accident got a check for about $3,000 from the other party's insurance for diminished value.
10-06-11, 11:38 AM
#17
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Damn, sorry that happened OP, at least you caught the kid!
To the other posters, like you would really beat the **** out of a 16-17 year old teenager, and go to prison for a handful of years over less than a few grand in damages? Your lawyer would be more expensive than the cost to fix the damage...
I think the OP did exactly the right thing, and now you can take it out on his insurance agency....
To the other posters, like you would really beat the **** out of a 16-17 year old teenager, and go to prison for a handful of years over less than a few grand in damages? Your lawyer would be more expensive than the cost to fix the damage...
I think the OP did exactly the right thing, and now you can take it out on his insurance agency....
10-06-11, 12:08 PM
#20
Just get some Meguires Scratch X.... A little elbow grease and that will buff out!!!!
Totally kidding, that is so messed up... WTF what is going on with kids today, sue the heck out of his parents, the only way to get your money back...
Also hit them for legal fees, and diminished value!
Totally kidding, that is so messed up... WTF what is going on with kids today, sue the heck out of his parents, the only way to get your money back...
Also hit them for legal fees, and diminished value!
10-06-11, 12:26 PM
#23
wow. my heart goes out to u man. hasnt happened to me knock on wood but should my car ever have an accident I'd rather it be totaled out so I can get a new one. Its one thing for an accident to happen and its your own fault but for someone else to mess up your car and depreciate the value that really sucks. hopefully they pay for everything and you can get a 2011 =)
hope u'll get fixed soon...
10-06-11, 02:03 PM
#26
That sucks! I had very similar damage on my 2007 although I think the impact on mine was harder because the back door was knocked loose. My side airbag also went off because we were driving.
They had to replace the rear fender which means replacing the piece that runs above the doors. My car had over 11k in damages and when I went to trade it they assume frame damage because of the new (not robot welded) fender welds. It was in the shop a month or two
Hope this helps.
They had to replace the rear fender which means replacing the piece that runs above the doors. My car had over 11k in damages and when I went to trade it they assume frame damage because of the new (not robot welded) fender welds. It was in the shop a month or two
Hope this helps.
