Need Legal Assistance

[CaliNoleFan6]

While waiting to make a turn, I had someone slam into the back of my new car. When I say new, it's a 2014 with 4700 miles on it. Anyway, got the police report, the kid was at fault and my insurance is having his insurance pay for repairs, my rental etc. The problem is, now that the car has been in an accident, even after its fixed it won't be worth as much, so how do I go about going after diminished value? Since he was at fault either he or his insurance should have to pay but I don't know the process and don't want to make a move without first knowing the best course of action.

Thanks in advance.

 

[SWFNole]

I can't figure how you can assume a diminished value until you try to sell, so how can a value be given at this time? It just seems too confusing for the day after a long weekend. I suggest you seduce his mother and PIITBWOLOW.

 

[Formerly Rockymtnole]

Not sure that's possible. Probably just chalk it up to a bad break.

 

[OrlandNole]

What makes you think your car's damage is any different than the millions of collision claims that have happened before yours?

 

[ncnole1975]

What makes you think your car's damage is any different than the millions of collision claims that have happened before yours?

He has a legitimate question. If you're not seeking diminished value costs from insurance companies, you are leaving a ton of money on the table.

OP, I would try to get some actual values from Carfax or the local dealer and have them put a tangible number to the loss of value due to the accident. Then present that to the insurance company and do battle from there.

 

[ATLNole1]

A friend of mine is going through this process now and it has been very tough to get the insurance company to agree on an amount. What you will need is value pre-crash and then value after repairs to start negotiating with the insurance company. I believe he said there are companies out there that will compile this for you for a fee.

 

[More Kirk Less Spock]

I think you should be able to go after them for the difference in value, but it will probably be a process. Don't give up! Fight those fargin capitalist pigs!

 

[QuaZ2002]

1-800 ASK GARY

 

[Fijimn]

It is a difficult value to determine and, generally, you are not talking about a bunch of money -- unlike, say, damages to real property.

 

[goldmom]

If you are in California, are there laws regarding this? And your question is legitimate.

 

[DanC78]

Looks like you have the wrong insurance company.

 

[Formerly Rockymtnole]

What kind of damage was done to the car?

 

[LT4PLY]

It also depends drastically on the car. If you are rolling in a Ferrari then you have a legit claim. If it's an every day commuter car like a Honda you are more than likely going to get denied unless the repair job blows.

 

[CaliNoleFan6]

Talked to a few others and did some research on New Mexico law. Basically I can't do anything until after its been fixed. Then I will need to get quotes from every dealership I can stating what it's worth before accident and after. I was told when it comes to negotiating with his insurance company (State Farm) to start high since they will lowball me and then hope to meet in the middle. The damage itself was the rear bumper, so not too bad, but now that the carfax isint clean it gives dealerships or potential private buyers leverage to offer considerably less when it comes time to sell, which is why I will be going after DV.

Thanks for the replies everyone

 

[Formerly Rockymtnole]

Still curious what kind of car and how much damage?

 

[FSUpete01]

Did you ask your insurance company this question? You should be able to file for a dimished value insurance claim. I would probably call a lawyer you know and have him/her refer you to someone who knows about this type of stuff.

 

[Cubs79]

Interesting question. Can you actually determine the diminished value? The value is going to diminish regardless if it was in a wreck or not, if you keep driving it of course. Unless you were trying to sell at this point, then how can the diminished value really be determined? My point, let's say you werent going to sell the car for another 5 years or so. Then wouldnt any diminished value have to be determined at that point?

 

[Gonolz]

I thought there were some different types of insurance that you can get. Isn't there some type of replacement value insurance that insures you back to the full replacement value of your car prior to wreck vs. "regular" insurance that just pays for repairs?

 

[FreeFlyNole]

Please tell us the make and model. I want to be able to make fun of you more accurately. Pics of damage, female romantic interests and family members will help too.