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Diminished value claim?

May 20th, 2016 at 07:10 am

In a previous post, I had mentioned that we had been rear-ended while we were on Spring Break vacation. We finally got our car back from the shop after all this time. When we picked up the car, our body shop guy suggested that we file a diminished value claim with the other party's insurance company. We had never heard of this before but apparently, since the damage of the car was so severe, we should be able to recoup some of the value lost due to the accident. The car is just a year old and pre-accident value would be guestimating at around $26k. The cost of the repairs was almost $13k which is nearly half the value. Since the accident was such a high dollar amount, we'll have to disclose it if we want to sell it in the future... which means that we couldn't get $26k for it right now like we should've been able to prior to the accident. A diminished value claim would provide us money for the difference in values.

I've emailed the other insurance adjuster about this 2 days ago and have gotten zilch response... Has anyone else gone through this kind of claim before?

2 Responses to “Diminished value claim?”

  1. creditcardfree Says:

    I haven't heard of that either, but it sounds like a good idea to file. I'd call your agent and have them help you work through the issue if possible.

  2. Janelle Says:

    Could you contact your insurance agent for help and advice? While I have never heard of such a thing, I'd start with my own agent to find out if it is a valid claim and if so seek advice on how to handle filing it.

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