Diminished Value Claim

[RDATLTE]

Yup, it happened. The other car came across 3 lanes of traffic to go from a shopping center to the turn lane of the shopping center on the opposite side of the street. Had it not been for some defensive maneuvering on my part, it would have probably been a direct t-bone. While she admitted fault, I overheard her tell the investigator that she had her turn signal on. There are definitely those who believe that the use of a turn signal parts the Red Sea rather than signals their intent.

In any case, does anyone have any experience / success in filing a Diminished Value Claim that they can share as I’ve no experience with it.

 

[668LT4]

Sorry man, that sucks. Do you have PDR? That will show your defensive maneuver and bolster your position. 4s don't have SVR unfortunately, which likely would have captured more of the incident.

That looks fairly easy to fix. I don't have experience with diminished value claims. Can you file one any time someone else is at fault?

 

[dstewart51]

I tried a DV claim once, I felt I had a very good case with lots of supporting documentation. In the end I would have had to take the other insurance company to court and it became more trouble than it was worth.

 

[Tall Steve]

Yup, it happened. The other car came across 3 lanes of traffic to go from a shopping center to the turn lane of the shopping center on the opposite side of the street. Had it not been for some defensive maneuvering on my part, it would have probably been a direct t-bone. While she admitted fault, I overheard her tell the investigator that she had her turn signal on. There are definitely those who believe that the use of a turn signal parts the Red Sea rather than signals their intent.

In any case, does anyone have any experience / success in filing a Diminished Value Claim that they can share as I’ve no experience with it.

Sorry to see this sir!

 

[RDATLTE]

I’m hoping that the “Collector Series” “41-020” will help towards the claim but, who knows?

 

[RDATLTE]

Sorry man, that sucks. Do you have PDR? That will show your defensive maneuver and bolster your position. 4s don't have SVR unfortunately, which likely would have captured more of the incident.

That looks fairly easy to fix. I don't have experience with diminished value claims. Can you file one any time someone else is at fault?

Unfortunately, no PDR on this car. I do have it on my ZL1 1LE and keep it on at all times for this very purpose.

 

[RDATLTE]

I tried a DV claim once, I felt I had a very good case with lots of supporting documentation. In the end I would have had to take the other insurance company to court and it became more trouble than it was worth.

In this case, we share the same insurance company. I'm not sure if that's better or, worse.

 

[nashblackwing]

Sorry to see. The front of my car was hit on 12/15. Took 7 weeks to get torn down. No frame damage and no airbags went off but it was still like $20K in damages after taxes. I think the body shop ordered the parts only a few weeks ago after they did the teardown and I am still waiting on a fender. All other parts came in. Of course, not much can be done until the fender is in. Order your parts as soon as possible. I'll be lucky to get mine back by mid-March. I have a thread on here with pictures.

 

[RDATLTE]

Sorry to see. The front of my car was hit on 12/15. Took 7 weeks to get torn down. No frame damage and no airbags went off but it was still like $20K in damages after taxes. I think the body shop ordered the parts only a few weeks ago after they did the teardown and I am still waiting on a fender. All other parts came in. Of course, not much can be done until the fender is in. Order your parts as soon as possible. I'll be lucky to get mine back by mid-March. I have a thread on here with pictures.

Damn, I think that I only have 20 days of rental car coverage.

 

[nashblackwing]

I'm not sure if I'd bother with the claim outside of trying one time. Despite my car having a high dollar amount in damages, it really was largely cosmetic. Yes, it'll hurt the value at resell, but maybe a couple thousand. The ATS-V I had prior had a minor accident on it when I bought and it really didn't affect the value too much. I bought it in 2021, and the dealer sold it for more than I bought it for when I traded it in for the BW.

 

[nashblackwing]

Damn, I think that I only have 20 days of rental car coverage.

Yeah, I had 30 days. I luckily was out of the country for a bit and then I get rentals for work, so I really spread those days out. I am paying out of pocket now though, so that is fun. $$$$$$$

 

[AZHEAT]

I went through the diminished value claim process roughly 5 years ago when someone hit me and wadded up my ‘17 ZL1. I recall some states don’t require insurance companies to pay DV claims and regardless of the state, the insurance company plays dumb and will give you the impression they won’t pay DV or you are not entitled to DV. I don’t recall the details, but it was exasperating. Arguing that a competent repair is not “as good as new” wears you out. Obviously you want to negotiate with the at-fault driver’s insurance company without getting an attorney involved ideally. In your case it sounds like that is your insurance company as well. I’m not sure how that plays out. Carefully worded emails that make it clear that you expect to be “made whole” when you are not at fault is the first step. There is obviously no reason you should be left with a $10k plus loss after repair, however that is the typical scenario. After your vehicle sustains damage, the question is not whether you will lose money on the deal, but rather how much you will lose. The only way you don’t face a monetary loss is if you are injured.

As we are all aware, DV is a big deal and depending on the vehicle, DV loss can be 20% of the vehicle’s pre-damage value. The only people that dismiss accident/paint work history as not being a significant factor in determining value of a vehicle are body shops and anyone selling a vehicle with damage history. My grandmother knew to ask for a Carfax!

We’ve all been in this position and it sucks all around. Just keep it in perspective. It’s just a car and nobody was seriously injured. I hope you get reasonable DV compensation.

 

[RDATLTE]

Sorry man, that sucks. Do you have PDR? That will show your defensive maneuver and bolster your position. 4s don't have SVR unfortunately, which likely would have captured more of the incident.

That looks fairly easy to fix. I don't have experience with diminished value claims. Can you file one any time someone else is at fault?

They’re talking about replacing rather than repairing the rear quarter panel. Not such an easy fix.

 

[nashblackwing]

They’re talking about replacing rather than repairing the rear quarter panel. Not such an easy fix.

Worst part is not knowing when the parts will be in. I’ve been over two months without my car and it may be another month or it could be another three months lol. Fucking sucks. I hope your parts are on back order and it’ll be a quicker fix for you. Is it not driveable right now?

 

[RDATLTE]

Worst part is not knowing when the parts will be in. I’ve been over two months without my car and it may be another month or it could be another three months lol. Fucking sucks. I hope your parts are on back order and it’ll be a quicker fix for you. Is it not driveable right now?

It is drivable. Hopefully, there’s no tire, wheel or suspension damage. It’s my wife’s daily and she isn’t happy about driving it looking like that. She’s taking my manual ZL1 1LE to work tomorrow and she’s never driven it before.

 

[Throat Yogurt]

It is drivable. Hopefully, there’s no tire, wheel or suspension damage. It’s my wife’s daily and she isn’t happy about driving it looking like that. She’s taking my manual ZL1 1LE to work tomorrow and she’s never driven it before.

Your wife's reaction:

 

[RDATLTE]

Your wife's reaction:

My reaction when I realized she was serious and moved her parking pass from the Blackwing to the ZL1 1LE!

 

[Alex71]

Yup, it happened. The other car came across 3 lanes of traffic to go from a shopping center to the turn lane of the shopping center on the opposite side of the street. Had it not been for some defensive maneuvering on my part, it would have probably been a direct t-bone. While she admitted fault, I overheard her tell the investigator that she had her turn signal on. There are definitely those who believe that the use of a turn signal parts the Red Sea rather than signals their intent.

In any case, does anyone have any experience / success in filing a Diminished Value Claim that they can share as I’ve no experience with it.

I successfully pursued a diminished value claim about 15 years ago. I got about $6K from the other driver's insurance carrier.

I don't remember a ton of details, but I did pay a company about $500 to create a detailed report, and used that to file a claim. It took some following up, and sending the claim by certified mail, but it did get done.

My vehicle (2004 GMC Sierra Duramax) got t-boned at speed and suffered frame and suspension damage. I think it had about 50K miles on it at the time.

 

[RDATLTE]

I successfully pursued a diminished value claim about 15 years ago. I got about $6K from the other driver's insurance carrier.

I don't remember a ton of details, but I did pay a company about $500 to create a detailed report, and used that to file a claim. It took some following up, and sending the claim by certified mail, but it did get done.

My vehicle (2004 GMC Sierra Duramax) got t-boned at speed and suffered frame and suspension damage. I think it had about 50K miles on it at the time.

Do you happen to recall the name of the company or what type of company they were?

 

[Alex71]

i don't remember, but i'm sure i found it with a google search. try searching for dimminshed value claim assistance or something similar.