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vrpoc

vrpoc

Professor (1,199)

vrpoc answer was awarded and will earn ongoing royalties from this thread.

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Question

Submitted 114 days ago...

LissaC

LissaC

Brain (6,054)

Diminished value

How do I find out the amount of diminished value on my car that was in an accident this month?

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Answers
Answer 1 / 7 - Submitted 114 days ago...

vrpoc

vrpoc

Professor (1,199)

You would first look at the value of your car when its in good working condition. A great place to find this at Kelley Blue Book:

http://www.kbb.org

You can also choose different options on the condition of the car and such for a better take on the actual value. The value is obviously going to be subjective, so its up to you to determine the value based on how much its worth compared to what is damaged and how badly damaged. You should be able to get a ballpark amount from doing this.

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Answer 2 / 7 - Submitted 114 days ago...

LissaC

LissaC

Brain (6,054)

I was able to get the amount, I called the insurance company and they asked for me to send them something from my lawyer, I do not have a lawyer so what now? Do I really have to get a lawyer for this? They are jerking me around....

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Answer 3 / 7 - Submitted 113 days ago...

vrpoc

vrpoc

Professor (1,199)

I suppose perhaps a lawyer can better answer that question, although I would say it matters what type of accident it was, and what damages you are trying to claim.

It does seem sort of odd that they are asking for a lawyer, as though they are planning on fighting the claims against you. This is your own insurance company asking, right, not the other person's? If it is your own, ask them if you really need a lawyer.

The whole situation seems a bit weird, though. Usually they will send someone out to your car to assess the damages themselves, as they are the ones who determine what percentage is to be taken off the value, or whatever. It doesn't make sense for you/your lawyer to do it, as you can tell them it's value is at 95%, for example, when really the car is trashed.

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Answer 4 / 7 - Submitted 113 days ago...

LissaC

LissaC

Brain (6,054)

It is the other persons insurance company. I have already been paid for the repairs and they have been made.

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Answer 5 / 7 - Submitted 113 days ago...

LissaC

LissaC

Brain (6,054)

My understanding is that now that the repairs have been made I should be filing a diminished value claim because if I wanted to sell my car, since the accident is on the car fax report, it will lower the value of the car, even though the damage has all been repaired.

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Awarded Answer (What’s This?)

Answer 6 / 7 - Submitted 113 days ago...

vrpoc

vrpoc

Professor (1,199)

Yes, you probably should do the diminished value claim, although really your insurance should be dealing with the other insurance. I suppose it matters what the nature of the incident was, but most of the time, insurances don't really involve the people in the claim that aren't their own. Maybe call yours up and see what they say, as you are the one that pays them every so often to keep your vehicle insured.

 
Answer 7 / 7 - Submitted 113 days ago...

LissaC

LissaC

Brain (6,054)

I thought so! I spoke with my insurance company and they told me to call the other insurance company! I thought that they should be handling it for me.... Everytime I call her she just tells me what to say to them when I call them. I spoke with her today about the diminished value claim and I told her what the guy said to me about getting a lawyer and she told me to call them back and talk to the supervisor! Maybe she is just being lazy, maybe I should call HER supervisor!

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This Question was awarded 40 days ago therefore you can no longer post an Answer. However you may post a comment below.

 
Comments
Submitted 40 days ago...

LissaC

LissaC

Brain (6,054)

I contacted them, they told me to have my lawyer contact them about it, I asked my insurance comp to handle it, they wouldn't. Whatever.

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