Mike V.

Recently involved in an accident where the driver struck me in an "IMPROPER LANE CHANGE", as the summons reads. There are 2 witnesses, & it was pretty obvious to the officer the other driver was 100% at fault. So it will be pretty clear cut re: resposibility. My question is has anyone successfully sued for "DIMINISHED VALUE"? The specifics at fault driver insured by USAA, licensed, & accident occurred in VA. Be very interested to hear stories & any assistance.

JJKJ

I owned a 2004 GTO that was hit in a parking lot (parked correctly and legally) by a drunk driver. The accident caused over $9000 damage, nearly half the car's value. The driver was insured by USAA, and I requested a dimished value settlement. I met a lot of resistance but was persistant. I ended up getting appraisals from three sources showing the impact on value. I did that by simply going to dealerships and attempting to trade in the car on a new GTO. I disclosed the damage to the dealerships and asked for an accurate appraisal. I also asked what the value would be without damage.

It took numerous phone calls, but I did get the settlement I requested.

bolivar

I think this varies widely by state.

Why don't you ask your insurance agent, they probably know your state law.

Mike V.

Virginia law allows that, even after proper repairs have been made, you can recover the “loss of value” of your repaired vehicle after an accident in addition to the cost of the repairs. This a quote from a lawyer, so yes by law, my agent shared tough to pull off real world. So, like I started, I'm curious on members personal experience.

To JJKJ, if anything I'm persistent, & since you've given me USAA has paid a claim, then it appears possible. So I'm on it, but I will say USAA, has not been cooperative, but rather combative. Which is def. the wrong tact w/ me, as I firmly believe in the "we're azzholz because you're azzholz" view in conflict resolution.

Thanks to you both for input.

WAwatchnut

There are companies that specifically deal with diminished value claims in Virginia. Don't know anything about them, but if an industry exists to support it, I've got to assume there's a reason.

WHYASK

following this because i was just hit last week ;( and im in Cali. my agent said the same thing .. yes you can go after them but tough as nails to get them to pay out .., Im wondering the same thing if anyone has actualy pulled this off..?? I also have USAA and she was 100% at fault.

Mike V.

but we'll see reality as things unfold. At this point, the at fault driver supposedly won't even return calls her insurance company has made. As far as their (USAA) is concerned, it's open claim w/ no fault. If I don't get something moving from USAA by Fri., I have already discussed w/ my insurance co., Nationwide, which said, I may turn over to them, they will fix car, no dimished value, & I'm responsible for deductibles, they will pursue payment from USAA including deductible, rental veh., whole nine. I did receive a bus. card from the body shop for an individual (company) who exclusively works w/ DV claims, so far it's a legal recourse, there are people out there aware & specialize in, & a CF member said he successfully recovered on claim. We shall see.

bolivar

I steered my SIL toward this in Austin, Tx. Found company in phone book, I think it was a $500 ($750?) up front fee. They inspected the repaired car ( a Mercedes hit hard in the side) and came up with a number for diminished value. Provided a multi-page report of their position. It was something like $8,000? Don't really remember. The insurance company offered and she accepted much less, about $2,800 I think, but overall this was worth the time and investment.

C8-Vette

My 05 got t-boned in March. Damages were $5700 new door and quarter panel/rocker. Other driver 100% at fault. After fix, I contacted Hartford Ins., both of us had same insurance (don't believe that makes a difference) they have a diminished value department,a well kept secret. After a few phone calls they asked me what I wanted. I told them an amount equal to the damages. Settled on $5000. Got a check within a week. Amount of DM is very subjective.
Don't let anyone tell you that the laws in your state don't allow DM, that insurance company bull. You are to be made whole for all damages to your vehicle when the other driver is at fault. If you have a dozen eggs on the seat and the eggs break or a suit hanging get ripped you are entitled to compensation.
In Georgia, and I believe a few other states you are entitled to DM from your own insurance co. under your collision coverage.
Goggle DM and get an education on the subject.
Before hiring a lawyer or a third party adjustor try it on your own.
Let us know how you do.
Al

P0234

Did you forward the police report to USAA? I just got done dealing with them in a similar situation. I was rear ended by one of their insured members. I dealt directly with USAA instead of my insurance company. They were very easy to work with and their adjuster actually volunteered info on diminished value. He said they have a 3rd party company handle the valuation. They ended up totalling my car, but I have to say, the property portion was probably as fairly handled as I could imagine. I had a moded car that was worth 10k by the book and I ended up getting almost 2x that in payout.

phileaglesfan

I had to go after allstate after someone caused $7.5k damage to my Impala. They were a pain and it took months. I hired a DV company that sent out an appraiser. He said the value dropped by about $3k. I settled for about $2.5k. They tried to say DV doesn't cover cosmetic damage (it did have damage to the B pillar. DV laws vary by state though. Some companies will argue to the last penny.

By the way my company USAA wouldn't help me in that accident, even used it as a reason to raise my rates because I was a "higher risk". I was just in the wrong place at the wrong time, could have happened to anyone. I didn't even see the idiot until after the accident.

Mike V.

Got call from USAA today, unfortunately wasn't available, but message was they have accepted responsibility for the claim and specifically will pay for repair, & rental vehicle. So my ins. co. off the hook & so am I, very happy about this. No doubt will have to pursue DV as it unfolds, what I have learned it cannot be evaluated until repairs are complete as the quality of the repair is part of the eval., makes sense, so Mon. start the process. Keep you guys posted, thinking min. 30 days b/f final outcome is reached. Thanks for all the feedback/input.

redzone

I have seen this go both ways. About six years ago I had an employee with a brand new $50k Duramax get t-boned at an intersection & the other person was found 100% at fault. Damage was $17k and after two years of clawing & scratching he got $2k for diminished value.

Then,about six months ago,one of the girls in my office had someone make an illegal left turn in front of her at an intersection. She was in a four year old Jeep liberty with 60k miles on it. Damage was estimated at $5200.00 She mentioned dininished value & I told her it was all but a hopeless case. Well,she did some research on her own on the internet & found a site that said she was entitled to 17% of her vehicles value before the wreck. We all laughed & said good luck with that.

She went & met with the adjustor and came back with a check for $3200.00. No muss,no fuss,and this was before the vehicle was even repaired.

So it's hit & miss......good luck to you.

Wayne O

To the best of my knowledge, my auto insurance does not cover diminished value. I (supposedly) have great coverage but I'm sure I read diminished value was excluded. For an insurance company to pay out on a claim, I know it has to be for a covered loss. I can't recover diminished value from my carrier in the event of an accident but I'm not sure whether they would pay for diminished value (under other provisions of the policy) if I were to hit someone else. I don't know but I doubt they would. I imagine once diminished value is excluded it works both ways....it's not a covered loss period. I tend to think many insurance company's wised-up, excluded diminished value and covered their own a$$. That would not, however, preclude you from filing an action to recover diminished value from the at-fault party.

I'll be seeing my insurance agent this coming week, I might ask about this to see what they say.

C8-Vette

Youn don't get DM from your insurance, you get it from the insurance carrier of the person who hit your vehicle. (Except in the state of Georgia)

C8-Vette

As I stated in my previous thread the amount you can recover is very subjective. I got $5000 on $5700 worth of damages. By the way, it was very close to 17% of my Vettes value.(Vettes value is also pretty subjective)

BadAV

Good luck in the state of Virginia. We had a claim when we were there that was the same as what you stated. The person indicated it was 100% their fault and it was in the police report. We had the same insurance company and the same agent. In the end the adjuster was an *** (I'd been warned of this by a co-worker whose wife worked with her) and judged my wife 10% at fault. For what, driving on the road? From what I was told, Virginia is a comparative fault state so the adjuster simply chose to ignore the facts that were in the police report. Maybe I should have pursued it further but in my experience, you can't win with an insurance company; they are similar to the government.

I ended up switching all my insurance from State Farm and told them I would tell everyone I know for the rest of my life that State Farm insurance sucks. BTW, did I mention that State Farm insurance sucks? :>0

JJKJ

That's the way my claim worked Mike, I had to wait for the repair to be completed. After the car was repaired, I went and had my estimates for DV accomplished.

3GenVettes

We are Virginia residents and quite a few years tried to get a Diminished Value settlement on one of a cars. It was a nearly new Cadillac that was hit by a driver running a red light and incurred frame damage. I will tell you from that experience that 1) It is not easy and 2) You may get very little out of it for your time and trouble. You must obtain appraisals from qualified appraisers, but because of the depreciation hits that cars take anyway, it is really hard to put a number on what additional loss in value there is due to an accident. The attitude in the insurance industry, it that it is normal for vehicle to be in accidents and your vehicle is no different than any other. Good luck but don't get your hopes up and don't think it will be anything of substance.

C8-Vette

Virginia is one state that has lawyers who work on DM cases and will help you win your case for a fee. Check with the Viriginia Bar, they can put you in touch with the right attorney. Sharing a settlement with an attorney is better than nothing.