Diminished Value Claim

The only way I think you'd have a chance would be to make the claim under your collision coverage and have your insurance carrier attempt to subrogate back in the event you'd have new vehicle replacement coverage which some carriers do based on their tv commercials.

Not an attorney, but the court rulings have been pretty much uniform in that your insurer's obligation is a contractual one, and not necessarily a tort obligation. It is precisely why you wouldn't have loss of use/income coverage if you damaged a rental car and why you should check your credit card company's CDW before renting a car.

Lots of bad advice in here. Get the body shop to write up a dv report for you. Send to Allstate. Negotiate if necessary. Allstate sucks so good luck.

Your insurance probably does not cover. Read your policy.

I'm just going thru my ins on mine and it's been easy. Truck totaled so no DV claim.

Yes do repairs thru your insurance and collect the deductible from Allstate. Your insurance is more likely to treat you fair.

Since this isn't an automobile forum, I'm not surprised at all of the misleading replies.

1) You can not claim diminished value through your own insurance company.

2) Presenting a letter from a body shop or dealer doesn't work. First, it tells Allstate that you are too cheap to hire an appraiser and, therefore, aren't any threat to sue them. Also, they will tell you that your dealer is interested in buying your car as cheaply as possible so they will ignore that letter altogether.

3) The poster who only got $1,500.00 in diminished value probably accepted the insurance company's first offer. If you want to receive a fair settlement amount, you need to be a fighter. Persistence pays when it comes to dealing with insurers. Complaints to the insurance department for unfair claim practices work well as do letters from your attorney. A sympathetic magistrate may very well award the full diminished value (if you've hired a good appraiser,) and require the insurer to pay your appraiser's and legal fees as well.

[link=(www.fatwallet.com/forums/finance/880666/)]Sent my demand letter almost 10 days ago to State Farm.[/link]

I can post LA case law on this later.

I brought my car in to the repair shop. I just need a new fender, 2 new front tires and rims. Total 2k in damages. The parts will all be new oem.

Should I still go after the dv from the other party's ins?

Should you? Sure, why not. If they say no, or want further documentation, how much do you want to fight it?

Removing the money grab aspect of it, how much do you TRULY think your vehicle is devalued by being in this accident? How much less would you pay for this vehicle? A minor collision with $2k in damage may affect resale by $500 or so, today. Are you selling today? Probably not. It's not a collectors item or something that will have a stable value anyway, it's a normally depreciating asset. After 3 years it'll be worth half what you paid for it.

My $18k worth of damage had absolutely zero effect on resale of my car 18 months later. It was repaired properly, with OEM parts. They covered all costs, including premium rental car for 6 weeks.

You can fight and bring legal jargon all you want for your $500. When I dealt with Allstate I just called and asked for Diminished Value (they do actually call it diminution, I had forgotten that word). It went to another department, and they called and made an offer. It was free money and I didn't have to fight them whatsoever.

Just got off the phone with State Farm. Don't let an insurance company try to negotiate over the phone. IN WRITING ONLY. They will try to act like they are the ones that decide the finished value. THEY ARE NOT.