jamesw95

My 09 Coupe with 15,000 miles was backed into in a parking lot at my golf course. I parked it as far away from harm as I could but some guy managed to crunch the passenger side door and break the mirror off. He did leave a note and his insurance paid for the repair and a rental. The repair was just shy of $1800.00, my question is can I expect any consideration from his insurance on a diminished value claim. I had a clean car and now it has an accident history. Anybody have a similar experience?

PS the mirror was $481.85 holy cow!

Vette_DD

The search function is your friend.

http://forums.corvetteforum.com/c6-c...e-to-help.html

http://forums.corvetteforum.com/c6-c...hed-value.html

http://forums.corvetteforum.com/c6-c...hed-value.html

http://forums.corvetteforum.com/c6-c...hed-value.html

boraxman

DV is very real and iffy trying to collect on it. Im sure some members with experience will chime in.

You should feel lucky that someone copped to it and left a note.

hawkgfr

You're not likely to get it. I didn't get it for this and it was almost 11k to repair. Car was unattended and parked in a drug store parking lot away form everything lol...and run over in a parking lot.

jamesw95

Thanks guys for the info. And hell yeah I was sick when I saw the damage but happy when I saw the note. I am going to ask his insurance for compensation, nothing to lose if they say no.

C8-Vette

Damage to my 05 a year ago $5800. Had the car fixed without paying my deductible. Two weeks later, after some pressure, settled for a DM check for $5000!!! Keep the pressure on. DM is a well kept secret with most, if not all insurance companies.

utownal

I hope it works out for you! I know I would ask for compensation!!!!!!!!

AV8ForFun

Not trying to be a a@@....but....if the door and mirror were replaced, and the paint matches, is the value diminished? I wouldn't think that its real value would go down, only your personal perception of it. If the items were not replaced or the paint didn't match....you need to have a talk with shop and insurance.

Btw glad it worked out thus far for you. I could only hope that if my car were hit, I'd be fortunate enough to be hit by an honest person. In that since you were lucky.

mcandrew67

of course the value goes down, most people now pull a carfax or similiar, even though it's a piece of crap service, none the less people do it. If the car has an accident history, they low ball price to you due to an accident history. Dealers and private buyers all do this.

The best thing to do is go to a dealer and see if you can get a value of your car for trade in with accident history and without accident history and see what the difference is.
You need some sort of valuation to give the insurance co. Otherwise you are just guessing.

yeller z06

The value is diminished when he goes to sell it. I come along years later and want to buy his car, but I run a Carfax on it and I see that it has accident history. I walk away. Or... because it's been wrecked (the Carfax won't tell you what was damaged or how much it was) I expect a better deal from the seller, hence the diminished value.

AV8ForFun

True. Didn't think of that...mostly because carfax is only good if the rapirs were reported to carfax. My experience with carfax is that very liitle that has ever happened to any of my cars....even dealership work....has been reported on carfax....it seems very unreliable to me. My son's car, for example, has a clean carfax, and has had insurance work done at least 4, maybe 5 times (lost track). That work came from three diff insurance companies.

However, I see how the value is diminished, if the accident gets reported. I hadn't thought of it that way.

lastcowboy

simple way is just take the repair cost and use it ,works out the same.

ben dover

The best you'll do is 20% of $1800 = $360.

Wayne O

Insurance companies only pay for covered losses. To the best of my knowledge, insurance companies do not insure for diminished value and policies often specifically exclude such coverage. Perhaps, an at-fault driver may have personal liability for causing diminished value but I doubt his insurance carrier will pay for it. That said I vaguely recall someone saying they were paid for diminished value but that may be the exception rather than the rule.

I'm impressed...that 'minor' damage (in the photo) was $11 grand to repair!

TNTC4VETTE

Tried to get it on my truck when a lady took it out in a parking lot. In FL, it's impossible to get.

Top_Fuel

You can't collect DV damages from your own insurance company. But you can go for it from a third party insurance company...i.e. the insurance company of the party that hits you if it's not your fault.


To the OP...


Bottom Line...

1. How much is my loss?
2. Can I prove it?
3. What are the laws in my state?
4. Will I roll over the first time an insurance company sends me a denial letter?

jamesw95

Thanks again for everyones help.

Insure

Depending on the state in which you live but probably no... That sucks though. Sorry to hear about it...

hawkgfr

I was too...Heck the local GM dealer that ordered all the replacement parts said it was the most parts he had EVER ordered for a single repair job. While I didn't get any DV, I did get every part genuine GM and ordered new. Parts came from 5 states and Canada lol...every nut bracket and bolt was new. Took more than 8 weeks.


PS there is also a minimum cost threshold before it shows up on carfax...(nor sure how much though)

lordofwar

carfax has now killed the value of your vette.even if you have a little damage they still list it and everybody will shy away from your car if you go to sell it.that is the downside of carfax.