Diminishing Value

elpatofeo · 08-15-2011, 04:46 PM

So, my car was in an accident with an estimated $6400 worth of damages. I want the insurance company to pay me for "Diminishing Value" of my car since it was not my fault. How to I go about in determining how much the value of my car diminished cause of the accident? Any help would be greatly appreciated.

irocnroll · 08-15-2011, 04:51 PM

You need to check with your Insurance company. They will state if you can place a claim for a diminished value.

Good Luck with that. In most cases it isnt worth it. Especially if the car is repaired to like new condition.

Cristoff · 08-15-2011, 04:52 PM

I have insurance companies call me all the time for information like this. Tell your insurance company what you want and tell them to contact a couple of dealers to find out an accurate number for the diminshed value.

NOT all insurance companies are the same. Good ones will do this for you. USAA and State Farm come to mind right off the bat of ones that have contacted me recently. It would however be inapporpriate of me to recommend one insurance company over another. Not my place to do so.

Best of luck!

08-15-2011, 04:46 PM	#1
elpatofeo LawBraker Drives: 10 SIM 2LT/RS & 2016 1SS Hyper Blue Join Date: Oct 2008 Location: Fresno, CA. Posts: 910 View My Garage	Diminishing Value So, my car was in an accident with an estimated $6400 worth of damages. I want the insurance company to pay me for "Diminishing Value" of my car since it was not my fault. How to I go about in determining how much the value of my car diminished cause of the accident? Any help would be greatly appreciated. __________________

08-15-2011, 04:52 PM	#3
Cristoff Drives: 2011 Camaro 2LT RS in Red Jewel Join Date: Dec 2010 Location: Modesto, CA Posts: 463 View My Garage	I have insurance companies call me all the time for information like this. Tell your insurance company what you want and tell them to contact a couple of dealers to find out an accurate number for the diminshed value. NOT all insurance companies are the same. Good ones will do this for you. USAA and State Farm come to mind right off the bat of ones that have contacted me recently. It would however be inapporpriate of me to recommend one insurance company over another. Not my place to do so. Best of luck! __________________ Yes, this is my Camaro parked in front of the Infiniti Dealership that I run. No, my boss is not happy...

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08-15-2011, 04:51 PM	#2
irocnroll Drives: '91 RS Vert, '11 Grand Cherokee Join Date: May 2009 Location: Connecticut Posts: 2,342 View My Garage	You need to check with your Insurance company. They will state if you can place a claim for a diminished value. Good Luck with that. In most cases it isnt worth it. Especially if the car is repaired to like new condition.