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Started By
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You own a car in Louisiana? Read this...
Posted on 4/1/23 at 9:57 am
Posted on 4/1/23 at 9:57 am
DIMINISHED VALUE
Had a brand new SUV a few years ago and before I had put 2,000 miles on it, I was hit by a truck hauling heavy equipment for a big corporation.
The corporation agreed to pay for repairs and did so, however, when I heard about "Diminished Value" I asked if they would compensate me for that as well and they refused.
At the time, Louisiana was not a state that mandated this type of compensation.
Had a brand new SUV a few years ago and before I had put 2,000 miles on it, I was hit by a truck hauling heavy equipment for a big corporation.
The corporation agreed to pay for repairs and did so, however, when I heard about "Diminished Value" I asked if they would compensate me for that as well and they refused.
At the time, Louisiana was not a state that mandated this type of compensation.
15
Posted on 4/1/23 at 9:59 am to Lutcher Lad
About 15 years ago, I had a 16yr old kid hit me in my wife's car that was like a month old. He did 8k in damage. I didn't even know that was a thing. The oldest kid totalled it years later anyway 
This post was edited on 4/1/23 at 10:11 am
Posted on 4/1/23 at 10:01 am to Lutcher Lad
In 2012 I had just bought a brand new truck and within 6 months so drink chick plowed into it while parked.
It took a lot of time and effort going back and forth with the insurance person but I dis eventually get it.
You will have to go through some effort getting quotes, estimates, etc vs book value with and without evidence of a wreck on record. It’s tough but I think I got $6-8k.
It took a lot of time and effort going back and forth with the insurance person but I dis eventually get it.
You will have to go through some effort getting quotes, estimates, etc vs book value with and without evidence of a wreck on record. It’s tough but I think I got $6-8k.
Posted on 4/1/23 at 10:05 am to Lutcher Lad
I had someone hit the wife’s car, my good friend has a body repair shop. He helped me draft up a paper, submitted it to the insurance company. They paid a good percentage of what I was asking.
With Carfax, they know the vehicle was damaged, they know the value drops.
With Carfax, they know the vehicle was damaged, they know the value drops.
Posted on 4/1/23 at 10:09 am to Lutcher Lad
Got $2k diminished value on wife's Jeep Grand Cherokee after it got hit, relatively minor accident, it was 5 years old and I sold it for roughly $20k at the time so wasn't bad deal.
Posted on 4/1/23 at 10:19 am to Lutcher Lad
quote:
You own a car in Louisiana? Read this...
Don’t tel me what to do.
Posted on 4/1/23 at 10:21 am to Lutcher Lad
Sorry they didn’t make you whole
My cousin caught his fibromyalgia in a big truck wreck, thank God for Gordon
My cousin caught his fibromyalgia in a big truck wreck, thank God for Gordon
Posted on 4/1/23 at 10:32 am to Lutcher Lad
I actually wrote a blog about this years ago, and to date, I have earned my clients an extra $50k+
Short blog with calculation here
Short blog with calculation here
Posted on 4/1/23 at 10:38 am to Lutcher Lad
Georgia is the only state that requires both first party and third party to be paid DV.
Insurance policies from all other states pretty much all exclude first party DV.
In every other state if you are a third party you have to request DV, and need to be able to substantiate your request.
Insurance policies from all other states pretty much all exclude first party DV.
In every other state if you are a third party you have to request DV, and need to be able to substantiate your request.
Posted on 4/1/23 at 10:47 am to Lutcher Lad
You should have contacted your attorney.
Posted on 4/1/23 at 10:58 am to Lutcher Lad
I thought that's the way it is. Insurance will cover the current value of the vehicle.
Posted on 4/1/23 at 11:03 am to el Gaucho
quote:
My cousin caught his fibromyalgia
Did they get a 9 level fusion to fix that up?
Posted on 4/1/23 at 12:01 pm to Lutcher Lad
The attorney sending you to the pain management clinic to get your pills while you “do physical therapy” should be able to hook you up with a referral
Posted on 4/1/23 at 12:09 pm to Lutcher Lad
I had no problem getting paid for this when someone hit me in my two year old car.
I was surprised at how easy it was
I was surprised at how easy it was
Posted on 4/1/23 at 1:16 pm to Lutcher Lad
quote:
was hit by a truck hauling heavy equipment for a big corporation.
I hope you hired a lawyer
Posted on 4/1/23 at 1:34 pm to Lutcher Lad
quote:
truck hauling heavy equipment for a big corporation.
That’s the equivalent of winning the lottery in Louisiana.
Posted on 4/1/23 at 1:47 pm to notiger1997
quote:
I had no problem getting paid for this when someone hit me in my two year old car.
I was surprised at how easy it was
Did they give you enough? in 2016 my son was hit in his 7k mile Accord. $6k in damage. Car was a year old. USAA wanted to give me $500. After much pissing and moaning I got them to $750 or so. I let it go because I know he'd be driving it for several years.
In 2021 my wife was hit by a cable van in her 2019 Audi Q8. At the time the car was still worth like $65k. Again $6k in damage (you could barely see it, Audi parts are $)
Zurich offered like $1k in DV. Good thing my friend is GM of an Audi store. He did a complete market analysis and I wound up getting like $4k in DV and loss of use.
My younger son was hit this week in his 2023 Acura Integra. Body shop guesses $15-$20k in damage on a $37k car. 1700 miles on it. I'm gearing up for that fight. I am hearing parts are very hard to come by so after paying to fix it, paying for a rental for months and eventually DV I hope they realize they should total it.
Posted on 4/1/23 at 2:40 pm to Lutcher Lad
Can we sue the state of Louisiana for diminishing the value of our vehicles with it's shitty roads?
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