Anyone file a Diminished Value Claim before?

[Evolv3d]

So my buddy that's fixing my car was telling me that you can file a claim with the insurance company claiming the cars diminished value due to the accident. Apparently you can have the insurance company cover the future potential loss in value to your car when/ if you try to resale it sometime because of the accident on file. From what I've been reading, you need to have a third party asses the potential loss in value and go from there. Has anyone ever done this before? Any pointers??

[spazpilot]

I tried once on my 350z. Depending on the damage, I doubt you'll get anywhere. You can't file it against your own insurance and the other parties insurance will throw you a couple hundred bucks. Worth a try.

[Evolv3d]

Originally Posted by spazpilot

I tryed once on my 350z. Depending on the damage, I doubt you'll get anywhere. You can't file it against your own insurance and the other parties insurance will throw you a couple hundred bucks. Worth a try.

Did you go through a third party to asses the damage as well or on your own?

[cjevoxmr]

I did to my own insurance about two months ago but no response yet, I had close to $12K damage and got nothing so I used third party to inspect the damage which cost me $175, hopefully Ill get something out of them

[Evolv3d]

Originally Posted by cjevoxmr

I did to my own insurance about two months ago but no response yet, I had close to $12K damage and got nothing so I used third party to inspect the damage which cost me $175, hopefully Ill get something out of them

Did they tell you how long it was going to take to let you know?

[cjevoxmr]

They said at least 2 months and of course insurance will take their time to respond, now I have to call them and find out what the status is which I have not done

[Evolv3d]

Originally Posted by cjevoxmr

They said at least 2 months and of course insurance will take their time to respond, now I have to call them and find out what the status is which I have not done

True, from what I was reading, you can't submit through your own insurance. I'll be interested in seeing what they end up telling you.

[ckydici]

I've wondered about this. Years back my wife was rear-ended by someone not paying attention. Their insurance covered the repairs just fine, but I kept wondering...when we sell the car, it has an accident on file, making it worth less, and it was completely not my wife's fault.

This happened again last year, again someone not paying attention at a stop sign, rear ends her. Car was fixed, but what about when we sell this one? It's gonna be worth less again, and it's out of our hands.

[dboz]

This is why I like to LEASE vehicles.

[spazpilot]

Originally Posted by Evolv3d

Did you go through a third party to asses the damage as well or on your own?

I went to carmax and asked them to give me two different appraisals. It was 1500.00 less then if it wasn't damage. Filed this with the other parties insurance. They offered me 100.00. I told them to shove it up there a$$!!! In Texas you can not file diminished value on your insurance because it usually means the accident is your fault or the other person was not insured or underinsured. Total damages done to the car by the way was 5200.00. GL with what you decide, I went ahead and traded the car in shortly after.