Safety strikes again ...
01-12-2018, 02:07 AM
#1
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Safety strikes again ...
On my way to an evening event during commute when I’m rear-ended on the freeway off ramp. Seems a Hyundai hit a new Honda that then hit my E350. Hyundai front end totaled, airbag deployed and leaked radiator fluid onto the freeway, driver taken to hospital. Honda back and front ends crumpled, driver banged around but OK. Damage to my E350 just a scratched bumper cover and a slightly rattled driver (me). Highway Patrol, fire, tow company and ambulance deployed.
Taking it into dealer for a quick safety check and insurance repair.
What should I be asking insurance company about a diminished value since accident report will be on car’s Carfax report?
Taking it into dealer for a quick safety check and insurance repair.
What should I be asking insurance company about a diminished value since accident report will be on car’s Carfax report?
01-12-2018, 03:32 AM
#2
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1922 Ford Model T / no OBD
Glad to hear you are unharmed.
Each state has different laws, but I remember in California you don't report accident below $500 damage.
Getting diminished value from insurance is not going to be easy.
Each state has different laws, but I remember in California you don't report accident below $500 damage.
Getting diminished value from insurance is not going to be easy.
01-12-2018, 03:50 PM
#3
Member
Glad to hear you are uninjured. Diminished value claims are really difficult to prove. In a few States there exists some case law on the issue. There are a few States that have actual Statutes governing the subject (maybe Georgia? )
01-12-2018, 05:28 PM
#4
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First just google diminished value for your state. If it applies, usually insurance companies have (secret) formulas that you can argue if you can provide support to your claim. A relative (in Georgia) was rear ended and offered $800 for diminished value from insurance. They paid about $175 to a diminished value claim appraiser and their report led to the insurance company raising the payout to almost $2,000.
01-13-2018, 03:21 PM
#5
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14 550 sedan
You're not going to be able to make a diminished value claim for bumper scratch. A carfax report for a small accident in my opinion holds little weight especially as a car gets older.
I think in CA for some insurance companies in order to be paid out for diminished value, you need to provide evidence of other similar cars being sold for less than market value strictly due to an accident on record, not cosmetic not wear and tear items, which is really hard. It may work for higher end exotic cars, but for a mass market type of vehicle like ours, probably wont get you anywhere.
Glad you and your car are ok though
I think in CA for some insurance companies in order to be paid out for diminished value, you need to provide evidence of other similar cars being sold for less than market value strictly due to an accident on record, not cosmetic not wear and tear items, which is really hard. It may work for higher end exotic cars, but for a mass market type of vehicle like ours, probably wont get you anywhere.
Glad you and your car are ok though
01-14-2018, 01:30 PM
#7
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To lighten up the subject, your handle remind me old joke. Now this joke require speaking with accent, so use your imagination how the different nations pronounce in English.
>>> older Chinese guy was applying for a job in New York and presented ID with name "John McEntire"
"How come you've got such a classic name?" ask the clerk
"You know, we come on the ship from England to New York and lined up to the immigration desk. There was huge Irish guy in front of me and when they ask him what his name he answered "John McEntire" . So then it come my turn and clerk ask me"
"What's your name?"
"Sam Think" so they wrote my ID with John McEntire
>>> older Chinese guy was applying for a job in New York and presented ID with name "John McEntire"
"How come you've got such a classic name?" ask the clerk
"You know, we come on the ship from England to New York and lined up to the immigration desk. There was huge Irish guy in front of me and when they ask him what his name he answered "John McEntire" . So then it come my turn and clerk ask me"
"What's your name?"
"Sam Think" so they wrote my ID with John McEntire
Last edited by kajtek1; 01-14-2018 at 01:32 PM.
