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Question about diminished value claim
Posted on 9/18/14 at 2:15 pm
Posted on 9/18/14 at 2:15 pm
Teenage daughter was in a wreck back during the summer. The damage was around $4500 and the car was in the shop for 4 weeks. The car is a 2009 Camry. Last year somebody backed into her and she had to get the bumper replaced. The cost was about $800 and was in the shop for 3 days. The insurance company is offering $500 for diminished value due to the first wreck to replace the bumper. My question..is this a fair offer?? Everything I read online says if the car is wrecked it will lose about 30% value. This last incident was a lot more damage than just a bumper.
So do I accept the $500?? I've asked for more, but they are sticking with the $500?
So do I accept the $500?? I've asked for more, but they are sticking with the $500?
2
Posted on 9/18/14 at 2:41 pm to West Monroe
This is confusing.
The insurance company is offering $500 in addition to the $800 for the bumper replacement?
$500 seems a little low if the DV claim for the $4500 damage. However, it's a few year old car and I assume not major chassis/frame/unibody damage (ie. just panels and parts). I wouldn't expect more than $1000.
The insurance company is offering $500 in addition to the $800 for the bumper replacement?
$500 seems a little low if the DV claim for the $4500 damage. However, it's a few year old car and I assume not major chassis/frame/unibody damage (ie. just panels and parts). I wouldn't expect more than $1000.
Posted on 9/18/14 at 2:53 pm to LSUtigerME
Sorry to be confusing. First wreck was in 2013 was $800 for a bumper replacement. The most recent wreck was back during the summer and was $4500 in damage. The insurance company is offering $500 for diminished value. You are correct there was no frame damage. The insurance guy said they normally wouldn't offer anything due to there being prior damage. This is the first time I have dealt with this. I just figure they low balled me on the first offer.
Posted on 9/18/14 at 2:58 pm to West Monroe
Which insurer, yours or other driver? Sounds like BS to me. Years ago, I got some damage to my truck fixed (not my fault) and then got in a wreck a week later. My insurer didn't try to lowball me due to prior repair. I wouldn't take less than what it cost to do repairs if it were me. If it is a different person's insurer, call an attorney.
This post was edited on 9/18/14 at 3:00 pm
Posted on 9/18/14 at 3:33 pm to lsujro
The insurance company(All State) is the other persons since they were the ones to hit my daughter's car. They paid for the car to be repaired, but they are offering $500 for diminished value. They are saying only $500 since it was involved in a prior accident. Again the first accident was to replace the bumper.
Posted on 9/18/14 at 4:34 pm to West Monroe
$500 for repairs that cost $4500???
Posted on 9/18/14 at 4:44 pm to West Monroe
Posted on 9/18/14 at 4:57 pm to West Monroe
quote:
All State
Yeah, good luck with those a-holes.
I worked for a different insurance company as a claims adjuster and Allstate is the absolute worst insurance company to deal with, or was at the time. It's been several years since I was in that field, but from what I recall the burden is on you to substantiate a higher DV claim. Different states may have different laws, so maybe check with your local agent. Though I did find this link which may help. No idea how reputable they are.
LINK
Posted on 9/18/14 at 4:57 pm to West Monroe
quote:
The insurance company(All State) is the other persons since they were the ones to hit my daughter's car. They paid for the car to be repaired, but they are offering $500 for diminished value. They are saying only $500 since it was involved in a prior accident.
so they already paid the $4500, and are offering $500 extra to compensate you for reduced value of vehicle? it sounded like they offered you $500 total from earlier posts
. if it were me, i'd call, tell them $500 sounds low and that you are considering consulting an attorney. they will probably throw a higher offer at you. take time to think about it. if it's still not enough, consider an attorney. however, this seems like it will likely be too little money for an attorney imo
Posted on 9/18/14 at 5:43 pm to West Monroe
I'm not going to tell you whether to accept the offer or provide advice. Allsate is the worst. And almost no attorney is going to take the case to work diminished value only.
Again, I'm not giving advice, but your body shop repair man might be able to help you. They often write independent DV evaluations or know someone who does.
Louisiana has no set calculation for DV to date. it's all subjective.
Again, I'm not giving advice, but your body shop repair man might be able to help you. They often write independent DV evaluations or know someone who does.
Louisiana has no set calculation for DV to date. it's all subjective.
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