[CatchMyZ]

First off, I understand

I had my car safely nestled away in the garage and my mother in law came over and drove her brand new Accord straight through the garage door right NEXT to my Camaro. At first I thought it survived with no damage, but later noticed some minor damage to the passenger side of the Camaro.
Does anyone have experience getting an insurance company (Progressive in this case) to pay out for diminished value?

[kropscamaro16]

i have a case with them right now but i live in cali still fighting with them about the other drive to get my deductible back but ill also have to ask them about this doesnt sound fun

[CamaroSSStlfan]

Originally Posted by CatchMyZ

First off, I understand

I had my car safely nestled away in the garage and my mother in law came over and drove her brand new Accord straight through the garage door right NEXT to my Camaro. At first I thought it survived with no damage, but later noticed some minor damage to the passenger side of the Camaro.
Does anyone have experience getting an insurance company (Progressive in this case) to pay out for diminished value?

My last car was the 2012 Mustang GT. Guy did $1200 damage to it. The guy who was at fault had Progressive. My Insurance company said I had to contact Progressive about it. The claim adjuster assigned to the case was a p*ck. after a few emails and phone calls finally got a hold of him. Basically told me to pound sand and had to get bunch of pics, estimate the diminished value and more paperwork.


For the amount of damage done it simply wasn't worth getting a lawyer and probably paying at least $500 for the lawyer to handle it and end up getting about the same back for diminished value.


If there was like 3k damage done to my Camaro hell yes I'd go after a bigger check.

[LT4Greg]

I would think it would depend on the damage to your Camaro as to if it would have diminished value. Minor damage probably wouldn’t be reported on Carfax. I had over 18,000 damage on my 2016 2SS 6 months after I bought it and my insurance company gave me a check for around $1100.00 which I accepted without a gripe. When I traded it in on the used 2017 ZL1 in 2019 there was no accidents reported on Carfax but I was honest with the salesman about it before I did the deal on the ZL1. Of course they had to pay the car off because I still had 2 years left on the loan which didn’t give me the trade in value that I wanted to get but I certainly got an upgrade with a ZL1 being a year later than the 2016. Good luck.

[mcintyre1969]

With a 5 year old car, and presumably minor damage.... zip.

[sandm]

diminished value has formulas out there that they use to calculate. it isn't simply saying your car isn't worth as much now that it's a branded carfax.
unless you have major damage, likely no dinero....

this will give you some basic info.
https://www.valuepenguin.com/auto-in...ed-value-claim

we were hit in our '14 sonata and had a couple grand in damage. geico told us to go away as nevada doesn't recognize it automatically and fighting it isn't worth the hassle in most cases.

[CamaroSSStlfan]

Originally Posted by LT4Greg

I would think it would depend on the damage to your Camaro as to if it would have diminished value. Minor damage probably wouldn’t be reported on Carfax. I had over 18,000 damage on my 2016 2SS 6 months after I bought it and my insurance company gave me a check for around $1100.00 which I accepted without a gripe. When I traded it in on the used 2017 ZL1 in 2019 there was no accidents reported on Carfax but I was honest with the salesman about it before I did the deal on the ZL1. Of course they had to pay the car off because I still had 2 years left on the loan which didn’t give me the trade in value that I wanted to get but I certainly got an upgrade with a ZL1 being a year later than the 2016. Good luck.

My Mustang had two accidents, Well three if you count me side swiping my moms SUV which I didn't report it but the damage was still obvious without needing a carfax lol. Mostly just paint on the bumper.


The other two accidents showed on Carfax. Even the very very minor one the bimbo dominoes driver woman backing out of dominoes put a dent into my Mustang. Just a minor dent but came out to about $800 due to needing to be painted. I wouldn't required a police report if Dominoes woudl have agreed to pay it but they require a report. Even that little of a dent showed on Carfax. granted you wouldn't need carfax to see it because the dealer did such a lousy job on the paint it was very obvious. I was pissed.


The second one was 1200 damages, but the old guy rear ended me at a pretty high speed BUT it hit my car just square it didn't do anything more other than the bumper. That one was on Carfax as well. Dealer saw it on the carfax.


The 2016 Camaro I bought had a very minor rear accident as well on the carfax. Car drove great though and I didn't factor that in since they gave me a good deal.

[FarmerFran]

Holy shit, am I the only one here going... if my MiL ****ed up we work it out

This country is so ****ed

[Allez]

Originally Posted by FarmerFran

Holy shit, am I the only one here going... if my MiL ****ed up we work it out

This country is so ****ed

That's what I was thinking. It's your mother-in-law. I don't think I'd worry about trying to get everything possible out of her insurance company.

[CamaroSSStlfan]

Originally Posted by Allez

That's what I was thinking. It's your mother-in-law. I don't think I'd worry about trying to get everything possible out of her insurance company.

I'd give her an estimate for the value diminished and ask her to pony up.

[Chevelle vs Camaro]

Yeah you’d have to find out your states diminish value law. In WA we don’t have them so they just won’t pay out.

Case law here shows state usually will award it so if thats the case you could take to court. Once served they would probably settle if they know they are going to pay.

In the case if minor damage you probably wouldn’t get jack as minor damage will not diminish your value.


Sent from my iPhone using Tapatalk

[matt fe2o3]

California wise the issue of diminished value is moot. They look at the value of the car pre accident. That becomes the baseline.

Then they look at the post accident value - that is the market value of the repairs vehicle. THEN they ADD to that value the cost of the repairs performed.

They subtract the market value post accident and the repair costs from the pre-accicent value. The delta is the diminished value.

Example 40k car gets in an accident. Repairs are 18k - post repair market value is 25k.

40k minus 18k, minus 25k = (negative sum) -3k. Using this formula there is no diminished value, in fact the opposite.

As crappy as this sounds, this is what is done in California. It was designed to protect insurance companies and prevent property damage litigation.

[Pupilbone]

Thank god I haven’t had to go anywhere near this topic with any of the cars currently nestled in my garage. Here’s hoping this lasts.