Diminshed Value
Diminshed Value Those of you who have received diminished value compensation from auto insurance companies, how did you get it?
Did you get an appraisal or did you just call them up and say I want to settle?
Did you get an appraisal or did you just call them up and say I want to settle?
I got an appraisal done because the insurance companies first offer was laughable. You won't get the full appraisal unless you hire the company to take it to court or pretty close. I ended up about midway between their first offer and the appraisal. To be honest, the appraisal was a bit high so I never thought I would get it.
Through all of that the insurance company got much more reasonable about my medical bills and such though. Once they saw I was not going to let them run me over they decided they should cover my bills in full nad give me some pain and suffering for being out of commission for 2 months.
Through all of that the insurance company got much more reasonable about my medical bills and such though. Once they saw I was not going to let them run me over they decided they should cover my bills in full nad give me some pain and suffering for being out of commission for 2 months.
Go to three different Dealership and get quotes.
Bu the kicker is.. I had ******** for insurance agents when I had to do this. They don’t care what the dealership tells you ….because they have a motive to give you a higher value on the car then what it is worth. So for them to give you a real diminished value of the car you have to have a licensed appraiser to give you the quotes and three of them..
And if you agent doesn’t like that one he doesn’t have to count it.
Cost for this per each licensed appraiser would cost about $300 is what I was told.
So after everything was said and done.. I still was given the diminished value that my agent wanted to give me from the start.
I have had to do this twice with two different cars.
And you can only get this on the car once.
Bu the kicker is.. I had ******** for insurance agents when I had to do this. They don’t care what the dealership tells you ….because they have a motive to give you a higher value on the car then what it is worth. So for them to give you a real diminished value of the car you have to have a licensed appraiser to give you the quotes and three of them..
And if you agent doesn’t like that one he doesn’t have to count it.
Cost for this per each licensed appraiser would cost about $300 is what I was told.
So after everything was said and done.. I still was given the diminished value that my agent wanted to give me from the start.
I have had to do this twice with two different cars.
And you can only get this on the car once.
Teching In
Joined: Oct 2009
Posts: 9
Likes: 0
From: Cypress,TX
Call this guy, Kent Putnam @ Wreck Check 281-741-1670 or 713-305-5425
He can do an appraisal for you. I have had him do one for me and know countless customers that have used him. You should only have to have one done. You submit this to the insurance company and they should pay based on the evaluation. Also you can only get diminished value from another ins. co. not your own unless it was do to an uninsured motorist claim. Insurance companies are not even going to look at a dealerships appraisal, they want to see a written appraisal from a licensed appraiser. Hope this helps.
He can do an appraisal for you. I have had him do one for me and know countless customers that have used him. You should only have to have one done. You submit this to the insurance company and they should pay based on the evaluation. Also you can only get diminished value from another ins. co. not your own unless it was do to an uninsured motorist claim. Insurance companies are not even going to look at a dealerships appraisal, they want to see a written appraisal from a licensed appraiser. Hope this helps.
Call this guy, Kent Putnam @ Wreck Check 281-741-1670 or 713-305-5425
He can do an appraisal for you. I have had him do one for me and know countless customers that have used him. You should only have to have one done. You submit this to the insurance company and they should pay based on the evaluation. Also you can only get diminished value from another ins. co. not your own unless it was do to an uninsured motorist claim. Insurance companies are not even going to look at a dealerships appraisal, they want to see a written appraisal from a licensed appraiser. Hope this helps.
He can do an appraisal for you. I have had him do one for me and know countless customers that have used him. You should only have to have one done. You submit this to the insurance company and they should pay based on the evaluation. Also you can only get diminished value from another ins. co. not your own unless it was do to an uninsured motorist claim. Insurance companies are not even going to look at a dealerships appraisal, they want to see a written appraisal from a licensed appraiser. Hope this helps.
But you can get some quotes from some dealerships they just won't counts them like they would from a licensed appraiser.
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Teching In
Joined: Oct 2009
Posts: 9
Likes: 0
From: Cypress,TX
No ins. co. is going to offer this to you, you have to go after it. They like to ignore this.
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Is it your insurance company that is paying for the repairs? How much was the total price of the repairs and what was repaired? Year, make, model and miles of repaired vehicle? These are all factors into how much your value has diminished from the loss.
No ins. co. is going to offer this to you, you have to go after it. They like to ignore this.
No ins. co. is going to offer this to you, you have to go after it. They like to ignore this.
Total cost was around $3500 - front dr side fender, repaint door, bumper etc
2008 VW GTI 33000 mi
