Advice on pursuing a diminished value claim

AztecCamaro · 09-29-2013, 11:44 PM

So one of my cars was damaged and the entire quarter panel needs to be cut out and replaced. Allstate is the insurance I will be working with. It is the other parties insurance.

Any advice of stories you can share would be helpful. The car is a 2013 kia soul with no previous damage.

The initial estimate was around $3500. I'm waiting for an adjuster to come out and do their estimate

Mr_Draco · 09-30-2013, 07:42 AM

All you can do is simply request it. If you get it you get it, if you get denied they should at least give you information on why and you will know what course of action you need to take.

A lot of insurance companies will only pay it out now if you sale or trade the vehicle within a certain amount of time after the accident (I've seen anywhere between 30-90 days after because the value of the vehicle doesn't diminish until you actually sale the vehicle).

Also most states have ruled that it's not the insurance companies responsibility to pay it, it's the responsibility of the party that caused the wreck. Be prepared to sue the person who caused the accident and take them to court. However the court will not rule in your favor if you keep the vehicle, you must sale it first.

derklug · 10-01-2013, 12:05 AM

It's a Kia Soul, there is no such thing as diminished value.

Sorry, I couldn't resist.

09-29-2013, 11:44 PM	#1
AztecCamaro Drives: 2013 Camaro Dusk SS Auto Vert Join Date: Aug 2013 Location: Kansas City Kansas Posts: 144	Advice on pursuing a diminished value claim So one of my cars was damaged and the entire quarter panel needs to be cut out and replaced. Allstate is the insurance I will be working with. It is the other parties insurance. Any advice of stories you can share would be helpful. The car is a 2013 kia soul with no previous damage. The initial estimate was around $3500. I'm waiting for an adjuster to come out and do their estimate

10-01-2013, 12:05 AM	#3
derklug Drives: 12 Boss 302 Join Date: Sep 2009 Location: Grand Rapids, Mi Posts: 1,369	It's a Kia Soul, there is no such thing as diminished value. Sorry, I couldn't resist. __________________ The biggest mistakes in life come when you know exactly what you are doing.

09-30-2013, 07:42 AM	#2
Mr_Draco Drives: 2SS/RS Join Date: Sep 2008 Location: Western North Carolina Posts: 7,413	All you can do is simply request it. If you get it you get it, if you get denied they should at least give you information on why and you will know what course of action you need to take. A lot of insurance companies will only pay it out now if you sale or trade the vehicle within a certain amount of time after the accident (I've seen anywhere between 30-90 days after because the value of the vehicle doesn't diminish until you actually sale the vehicle). Also most states have ruled that it's not the insurance companies responsibility to pay it, it's the responsibility of the party that caused the wreck. Be prepared to sue the person who caused the accident and take them to court. However the court will not rule in your favor if you keep the vehicle, you must sale it first.