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My Volvo was rear ended a month ago. $12k in damage, repaired by my insurance. They will subrogate, the other party's ins co has accepted fault. I live in NC, which is a 25% disclosure state. How much of a pain in the ass will it be to get a diminished value claim filed (and won/paid)?
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If I don't, who will? -Me
It's like being bipolar in opinion is a requirement around here. -TripleThreat
Nobody?
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If I don't, who will? -Me
It's like being bipolar in opinion is a requirement around here. -TripleThreat
Yes, twice. Pretty simple to do. The first time i filed against my another driver's insurance co. The second time, I actually had to file against my own insurance co.
Alright. Did you go to an appraiser, just use CarMax, or did they have a pre-determined amount? Thanks!
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If I don't, who will? -Me
It's like being bipolar in opinion is a requirement around here. -TripleThreat
The first time, I accepted what was offered. It seemed reasonable so I didn't really worry about it. The second time, my insurance handled the repair. So, when I contacted the other insurance company about the dim value, they asked for me to send the paper work. Several weeks passed before they concluded they wouldn't pay anything because they said the car should have been totaled. I contacted my insurance company and told them what had happened and that somebody was going to pay the dim value. They decided to buy the car back from me.
Nice. The other side has accepted liability, so I'm going this will be easy. $12k in damage, so I feel like I should get something here.
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If I don't, who will? -Me
It's like being bipolar in opinion is a requirement around here. -TripleThreat
Hey Lunchbox, how did your diminished value claim end up? My car was smashed (only 1 year old) by a kid in his dad's Mercedes back in 2015. His & my insurance co's are the same and they covered it all ($9k+ in repairs). But the statute of limitations is approaching in a few months and I am now considering selling the car in the next couple of years. Wondering how this worked out for you (or anyone else) and if you did it all yourself, or if you hired a company to go for bat for you.
I didn't know this was an option and I have about 3 months to figure it out.
Over ten years ago, here in Texas, I had a Nissan Xterra that was t-boned. As the other driver was at fault we filed diminished value with her insurance company which they paid. I don't remember how much it was though.
Once, I was fast. But I got over it.
Worked out well- the other side’s insurance adjuster cut a check without much argument. I sold the car soon after (traded in on a truck). Trade plus diminished value were more than what I owed/the car was worth pre-accident, so I came out ok.
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If I don't, who will? -Me
It's like being bipolar in opinion is a requirement around here. -TripleThreat
Glad to hear it worked out. The catch I'm facing is that we both have the same insurance company. So basically I'd be going to my own insurance to get an appraisal and ultimately (hopefully) a payment.