Vehicle Diminished Value claim information
- Thread starter skeezer
- Start date
they are actually fixing it? 
I do not know how a diminished value would work.
Are you happy with the work the shop did to the car?
There are no diminished value claims in Illinois, went through it with a flood claim on my Fusion
Basically went through the same thing you did, except in flood form. Instead of totaling it out, they were going to fix it, I tried to go after them for diminished value. Went to my agent, who said there was no way, went to my aunt who is a claims adjuster in Florida, where it is a thing, talked to a lawyer, who reconfirmed that it is not something you can do in Illinois. I would still investigate it further.
Basically went through the same thing you did, except in flood form. Instead of totaling it out, they were going to fix it, I tried to go after them for diminished value. Went to my agent, who said there was no way, went to my aunt who is a claims adjuster in Florida, where it is a thing, talked to a lawyer, who reconfirmed that it is not something you can do in Illinois. I would still investigate it further.
Illinois Diminished Value - Diminished Value Claims and Appraisals in Illinois
Can I Collect Diminished Value (state-by-state) ?
From the at-Fault Party's Insurance Company ...
YES; in Every State except Michigan.
If the at-Fault Party has No Insurance ...
YES; under your own policy's Uninsured Motorist Coverage, but only in the following states: • Alaska • Arkansas • California • Delaware • District of Columbia • Georgia • Hawaii • Illinois • Indiana • Louisiana • Maryland • Mississippi • New Jersey • New Mexico • North Carolina • Ohio • Oregon • Rhode Island • South Carolina • Tennessee • Texas • Utah • Vermont • Virginia • Washington • West Virginia.
From My Own Policy's Collision Coverage ...
YES; in Georgia or Kansas .. (Kansas may be subject to policy limitations).
UPDATE (12/22/2011) .. YES; in Washington, per Supreme Court decision (No. 84500-0) in the matter of Moeller v Farmers Insurance Company.
DIMINISHED VALUE FAQS | Insurance Consumer Advocate Network
The majority of these courts have ruled that comprehensive and collision coverage limit liability to payments for proper repairs and do not provide for payments for losses in value, he says. State supreme courts that have set this precedent include those in Delaware, Indiana, Florida, Maine, Massachusetts, South Carolina, South Dakota and Texas. A few appellate courts have made similar rulings, including those in Illinois, Louisiana, Missouri, Pennsylvania, Tennessee and Wisconsin.
Diminished value car insurance claims get the wrecking ball | Insure.com
Can I Collect Diminished Value (state-by-state) ?
From the at-Fault Party's Insurance Company ...
YES; in Every State except Michigan.
If the at-Fault Party has No Insurance ...
YES; under your own policy's Uninsured Motorist Coverage, but only in the following states: • Alaska • Arkansas • California • Delaware • District of Columbia • Georgia • Hawaii • Illinois • Indiana • Louisiana • Maryland • Mississippi • New Jersey • New Mexico • North Carolina • Ohio • Oregon • Rhode Island • South Carolina • Tennessee • Texas • Utah • Vermont • Virginia • Washington • West Virginia.
From My Own Policy's Collision Coverage ...
YES; in Georgia or Kansas .. (Kansas may be subject to policy limitations).
UPDATE (12/22/2011) .. YES; in Washington, per Supreme Court decision (No. 84500-0) in the matter of Moeller v Farmers Insurance Company.
DIMINISHED VALUE FAQS | Insurance Consumer Advocate Network
The majority of these courts have ruled that comprehensive and collision coverage limit liability to payments for proper repairs and do not provide for payments for losses in value, he says. State supreme courts that have set this precedent include those in Delaware, Indiana, Florida, Maine, Massachusetts, South Carolina, South Dakota and Texas. A few appellate courts have made similar rulings, including those in Illinois, Louisiana, Missouri, Pennsylvania, Tennessee and Wisconsin.
Diminished value car insurance claims get the wrecking ball | Insure.com
I've determined this is a possibility in this state and have heard of people doing it. Just trying to get some better experiences from people that have been through it. There's a lot of websites with information but they seem like they're just trying to sell you their services. This doesn't seem like something I will need an attorney for.
I was going to go through this on my own and had researched it, but then my car ended up being totaled out and I fought the value on the car.
Basically, I had found that they best way to do this is to get an appraisal from a auto appraiser specifically for diminished value due to the accident.
If that isn't an option, you can then create your own case by having multiple car dealership managers give their written testimony on the loss in value due to the accident. The idea is that they are also experts in the automotive valuation field and you have their expert witness to help you define a case against the insurance company.
Basically, I had found that they best way to do this is to get an appraisal from a auto appraiser specifically for diminished value due to the accident.
If that isn't an option, you can then create your own case by having multiple car dealership managers give their written testimony on the loss in value due to the accident. The idea is that they are also experts in the automotive valuation field and you have their expert witness to help you define a case against the insurance company.
I'm a buyer at CarMax and part of what I do is appraise vehicles. When cars come in with repairs that indicate frame damage and prior paintwork, we indicate that in writing on the appraisal offer. While we do not give an appraisal on what the car would be worth without that repair/damage, it's still a good start for having a written offer for your car based on the current conditions. It's free and only takes about 30 minutes...
I'm under the impression that diminished value will only come into play if you actually sell your car, though. Just because it's worth $5000 less now, doesn't meant that 7 years and 100,000 miles later it's still worth $5000 less when you go to sell it then.
Anyway, I'm interested to hear from someone first-hand for how the process goes, so please update this thread as you go through it. Best of luck!
I'm under the impression that diminished value will only come into play if you actually sell your car, though. Just because it's worth $5000 less now, doesn't meant that 7 years and 100,000 miles later it's still worth $5000 less when you go to sell it then.
Anyway, I'm interested to hear from someone first-hand for how the process goes, so please update this thread as you go through it. Best of luck!
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