Diminished Value Claim after Accident

Monaco · 05-26-2016, 10:53 AM

So my Jaguar was involved in an accident about a month ago. A lady failed to stay in her lane at a two-lane turn and caused about $4,500 worth of damage to the passenger side of the car. It was in the body shop for two full weeks and I just got it back. Now I'm expecting that her insurance, State Farm, will be looking to close the case.

Before I sign anything, I have been exploring the possibility of asking for compensation to cover some diminished value. Since British cars depreciate enough as it is, adding an accident to the Carfax history surely won't make it any easier to get a fair price when it comes time for me to sell.

Much of what I've read suggests that I'll need to hire an independent auto appraiser, but I'm wondering if anyone has had any luck negotiating DV settlements directly with the insurance company? I'm not opposed to hiring an expert if the incremental benefit is there; just not sure it's necessary.

I was thinking $2-2.5k would be a reasonable settlement.

KingOfJericho · 05-26-2016, 11:10 AM

http://f80.bimmerpost.com/forums/sea...rchid=45429308

csu87 · 05-26-2016, 12:30 PM

*****************************=filing+a+d...aim+in+arizona

Some states have different rules about this. Best bet is to research what it takes in your state, then go to her insurance company and tell them you want a diminished value claim added to your compensation. Depending on how they react, you will have to go the route of an independent appraisal and/or lawyer up to fight it.

05-26-2016, 10:53 AM	#1
Monaco Private First Class 27 Rep 110 Posts Drives: 2013 Jaguar XF Portfolio Sport Join Date: Nov 2012 Location: Scottsdale iTrader: (0)	Diminished Value Claim after Accident So my Jaguar was involved in an accident about a month ago. A lady failed to stay in her lane at a two-lane turn and caused about $4,500 worth of damage to the passenger side of the car. It was in the body shop for two full weeks and I just got it back. Now I'm expecting that her insurance, State Farm, will be looking to close the case. Before I sign anything, I have been exploring the possibility of asking for compensation to cover some diminished value. Since British cars depreciate enough as it is, adding an accident to the Carfax history surely won't make it any easier to get a fair price when it comes time for me to sell. Much of what I've read suggests that I'll need to hire an independent auto appraiser, but I'm wondering if anyone has had any luck negotiating DV settlements directly with the insurance company? I'm not opposed to hiring an expert if the incremental benefit is there; just not sure it's necessary. I was thinking $2-2.5k would be a reasonable settlement.
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05-26-2016, 11:10 AM	#2
KingOfJericho Major General 2458 Rep 7,341 Posts Drives: Yes Join Date: Aug 2007 Location: CT iTrader: (1) Garage List 2010 135i Coupe [5.26]	http://f80.bimmerpost.com/forums/sea...rchid=45429308 __________________ The views and opinions expressed in this post are those of the author and do not necessarily reflect the official policy or position of Bimmerpost. 2018 Jeep Grand Cherokee High Altitude Hemi \| 2010 S4 Sold \| 2010 BMW 135i Retired \| 2006 Lotus Exige Sold
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05-26-2016, 12:30 PM	#3
csu87 Banned 2131 Rep 3,553 Posts Drives: 09 335xi Join Date: Nov 2013 Location: Northern Colorado iTrader: (0)	*****************************=filing+a+d...aim+in+arizona Some states have different rules about this. Best bet is to research what it takes in your state, then go to her insurance company and tell them you want a diminished value claim added to your compensation. Depending on how they react, you will have to go the route of an independent appraisal and/or lawyer up to fight it.
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