Diminished Value Claim | The lost value of the vehicle

by Jocelyn
(Fairfield Idaho USA)

We were in an accident involving a car that we had purchased only 5 weeks prior. It was brand new and had only 2900 miles on it. Actually we had not even made the first payment yet.

The insurance company is trying to tell us it is repairable. You could see the frame and it was bent so we are making the insurance company take it to an auto repair shop of our choice and do a tear down. If they still declare it repairable how do we file a diminished value claim.

There is no way we will ever get the what this car is worth out of it because of this accident. Also is there a way we can fight a repairable claim if we feel that the car can not be restored to the brand new condition it was in.

Thank you for you time and answers to my questions.



Answer:

Hello Jocelyn,

Diminished value claim are difficult claims to make, but depending on your facts, you could still prevail. It will largely depend if you are making a first party or a third party diminished value claim.

Please see our sections with information about how to make this type of claim:

http://www.auto-insurance-claim-advice.com/diminished-value-claim.html


Good Luck,
http://www.auto-insurance-claim-advice.com