Op I agree with many here as most and myself would never put a claim in my own insurer for that minor damage. If it was liability then yes get the other guys insurer to pay. I bet your damage will never make to Carfax or any of those other BS companies. I have bought seemingly hundreds of wrecks of the years and "ONE" was listed on Carfax, what's that tell ya!

I own a very large independent collision repair facility(1k repairs a year) and repair many Vetts. DV is a great thing as shops that are scared their not qualified to repair certain cars will back out, good! I suggest in any case of a needed repair to search out a '" Certified" Collision repair center for the manufacture you have. There is serious extensive training and equipment needed and verified to qualify. I know, we are recognized by GM, Nissan, Ford and many others. Be aware many dealers are NOT certified or manufacture recognized repairers.

NY is one of the hardest state for DV claims and almost impossible when using your own coverage. If your going against another's coverage (liability) then yes it is possible but takes some work. There are companies to hire on line that do it all the time. I suggest using them and pay the fee you will do better. Many of our customers have been paid DV. The last was a 6k repair on a newer truck and the owner got about 2k. We see it not based on the cars value but more on the extent and cost of repair. Check out our web site for more information Jeffreysautobody.com or Assured Performance for a certified shop list.

One last comment. Insurance co's try steer accident victims to shops they control and are under contracts with them, known as DRP's. These contracts may force that shop to use untested fake parts and skip manufactures repair procedures to save the almighty ins co $'s. Choose your own shop after referrals from friends. Always ask the shop "do you have a contract with this insurance co?". If they do I would question all aspects of the repair or simply leave. My attorney on my payroll that sues insurance co's all the time for short paying would have a lot to say here.

Good luck and hope this rant helps my corvette friends!

 

There is so much misinformation passed around regarding diminished value. I could comment on many of the posts here but I'll just say that in PA, as well as in every state except Michigan, there is nothing - no case law, insurance regulations, etc. - prohibiting you from making a third-party diminished value claim. The poster whose car had the air bags deploy, that's a 40% hit to the car's value. As far as the original poster's car, I can tell you within a few percentage points that his car has lost 8%-10% of its value. Call me if you are unclear about diminished value, loss of use or total loss dispute claims. Be glad to put you on the right track.
PS: a $70K diminished value settlement? Wow! The highest one I have done was $40K+. Had to have been a Lambo or similar....

 

Exactly, did this with my kids cars to avoid contacting insurance and keeping there records clean. IMHO, I would pay the $1200, not sure of your deductible, mine is $500, almost 1/2 of that bill. Something to think about.

 

Thanks guys. The shop involved is at a Chevy dealership and has done on good job on other Corvette Club members cars. I've read their fine print and all parts are supposed to be OEM. It's also a preferred shop for the other partys insurance. Yes, that is a surprise to me as well. They have agreed to pay for the repairs and a rental car.

 

Not really a clear path to diminished value on minor damage. I took several photos and keep a book on car service. I'll have the photos to show a prospective buyer. I'll probably keep the car a long time and hope it will not be an issue.

 

Why dont you get the rear bumper cover from a GM parts dealer online .Then get the paint and have a professional autobody place that does high end cars paint bumper. Then just forget it ever happened and your value will be the same it was before someone nailed it. Nobody will ever no unless paint is way off as in faded from sun or whatever.

 

I just got a 11.5k diminished value on my z06. The repair bill was under 10k.

 

Great!

Please post here who handled your DV claim for others to use, I'm sure they would like the advertising. Personally I have never heard of a DV pay out of more than the repair cost.

 

Very interesting. Please post details. Your insurance company, other insurance company. Damage, who was at fault and how you got the DV?

I presume that the responsible ins carrier (yours? or the other parties?) paid $10k to the repair facility and then sent you a check for the $11,500.

Inquiring minds want to know.

Edit: Here is a bit of info from Upcharger in Post #4:
"I just had my car appraised for a diminished value claim this morning. The appraiser told me he typically sees around 12-15% of the cars value get returned. He asked if my airbags deployed, which they did, so I assume that makes a difference. 12-15% is better than I expected. My car had about 4500 miles on it when my crash happened. The sticker on my car was approx 86K so I would be happy with 12-15% back. This same appraiser did my friends adventador. My buddy got $70K diminished value!!"

Who was the appraiser? The insurance company Claims Rep? Or did you go to a 3rd party you had to hire? And what was that cost? I am happy for your windfall, but don't expect that will happen in most states with most insurance carriers.

 

Here is an interesting link to a website run by a law firm that will assist with DV claims. It talks about Rule 17C and a cap of 10% on DV with its possible reductions.....all that can be beat if you hire them, but it is a fascinating discussion of DV, and the reduction formulas Insurance Carriers use. Do note that it takes a relatively new car (less than 19,999 miles) and structural damage to get to the 10% based on the Insurance Carriers position with Rule 17C. Congrats to Upcharger's appraiser for beating the 10% limit.

http://www.kielichlawfirm.com/insura...-value-claims/

 

Another interesting link from a retired Adjuster. This goes into detail about which states allow claims and whether it is your carrier or the at fault drivers carrier.

Since 1945 and the McCarren-Ferguson act insurance carriers are regulated at the State not the Federal level so any discussion needs to reveal the state where the claim was handled as results will not always follow across state lines.

http://www.ican2000.com/dvfaqs.html

Do note this last link is to a guy selling his services but the data he posts is most interesting even if likely skewed to make him look good.

 

This is a sad situation.

What are the "odds" another parking lot crash will occur?

I think that is the deciding factor.

If another will occur, repair, avoid car fax, call it a day.

If this is a rare crash, hire a firm for DV.
$10,000 may be a correct amount.
Or sell the car, buy replacement, sue for DV.

Personally, FWIW, I do not buy cars with paint work.
So again your DV loss could be substantial.

Read like a nice car.

Good luck.

 

IAS out of seattle wa did my appraisal, they have offices in other states too http://www.iasclaimsgroup.com. It went thru State Farm which was the other drivers company. It cost me 450$ for IAS to do my appraisal and report. I submitted IAS's report to State Farm and they called me a day or two later to say my check is in the mail. If anyone would like to see a copy of the report PM me your email and I'll forward it.
I was surprised that State Farm didn't push back at all. It makes me wish I asked for more obviously. IAS did a great job

 

Not trying to brag, only disclosing this for others to use as a guide to base their expectations upon

My car had 700 miles on it when a school bus backed into it. $3300 in damage. Insurance is up to a $5000 offer which we have turned down. We have a trial date set for January. I figure that it would take me discounting my car 5 grand to entice someone to buy it over a similar Z with no accident history even though it was repaired perfectly... so thats my walk number.

Good luck to others that are dealing with this... its been a long process

 

Congratulations. Given the cost of the car, its newness and low mileage and the extent of the damage the DV sounds fair. Also the $450 fee sounds reasonable for the work they did. Enjoy the car.

 

I Hope you get it!! My staff attorney sues insurance co's all the time over short pays on collision repairs, I have some experience. I bet you'll get a sufficient settlement on the 11th hour.

 

You pay an insurance company to protect your assets. I got rear ended in my Duramax when the tailgate was down by some dirt bags who took off before Police arrived. They caught them, but no one would admit being the driver despite me seeing the driver stumble out wasted out of his mind. Even though I was obviously not at fault and had uninsured motorist coverage they wanted me to pay the deductible and like 3k in medical bills because the at fault driver didn't have insurance. I made it very clear that I just wanted them to do the right thing, but they refused. I had the truck fixed, my medical bills paid for, and a check for 37k. If the insurance company doesn't want to do the right thing find a lawyer who will. As to my rates they have not changed and it's been 3 years. I pay less than $175 a month total for my Z06 and my Duramax in one of the worst parts of FL for auto thefts

 

I had a similar situation with my 15 Z06 and when it was all done and said the most that they would go was $1,100.00 . I hope that you do better.