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Feb 10, 2005 -- Don't be cheated by
The concept of diminished value occurs when you are in a car accident and the value of the car declines after the repair. You should always disclose any prior damage to potential buyers before you sell your car. The insurance companies hate the idea of bringing you “whole” when a car is fixed, but there is a tremendous amount of money at stake. The Dallas Morning News has reported that insurance companies are low-balling people throughout Texas. One man was offered $250 on an $11,000 repair. He took the company to court and received $3,500. State Farm has said that it does not believe in diminished value. There have been so many problems that diminished value consultants are now available to help you handle a stingy insurance company. Many insurance companies say that diminished value will raise rates, but this is actually false. If there is a raise, then it will be minimal. Don’t let your insurance company cheat you out of the money you deserve!
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What others are saying
Diminished Value Claim
I used Advocate Auto Claims and they took a significant amount of the money. My friend used an online company and for $300 they did everything. Stay away from percentages.. Rip offs..
Diminished Value
Make sure you go with a company that is reputable and has experts in your local area. Dont trust a company that wants a percentage they will just settle it as fast as they can. The amount of diminished value you collect depends on the quality of report your auto damae expert writes.
How do I get the DV check
How can i get a hold of a good Diminished value company? I am so frustrated.. USAA is the worst company ever. Help
For $10,000 repair they offered me $580
Nationwide offered me $580 for repairs to my Honda Accord 2004. The total repair cost was $10,000. How to deal with them.Please advise
Diminished Value
I was involved in an accident where the other driver hit me. The damage was about $4700 to repair. How do I know if the check they send me for diminished value is enough? Is there a formula that is used to come to an amount? If so, can someone please tell me what it is so that I make sure they pay me enough? I have talked with a company that helps consumers to get the most money but they also take 33% of the amount paid. I am not sure if I should use them. Can you help me? Thanks.
diminished value
An 18 year old drunk driver caused over $8,000 damage to my mini. She wrecked to other cars and here insurance was for only $10,000. I can not get diminished value from my company (state law), I have heard I can clam it on my taxes, does any one know if this is true?
a bolt of lightning has totalled my car!!!!!
Mr. Howard, a bolt of lightning hit my car. it caused so much electrical damage that the insurance company declared it a total loss. my precious car was only 6 months old. and now guess what? you guessed it. the insurance company is low-balling me on the value of my car by $2600. I faxed them the appraisal from Kelly Blue book.com and I also had my local dealer fax them an appraisal which backed me up. Is there anything else I can do at this point to "wake up" the insurance company???? any input would be well received. Thanks!
Diminish value
State Farm is doing the same thing to me. I have recieved 1274.00 on a 9000.00 repair. My NEW Toyota has 3,700 miles and is a 2008. I have unibody damage in the front and the rear.
diminishing further than you may think!
Consider this. You have a brand new car and someone else is at fault during an accident. You take it to a repair shop "one of there select shops" usually and they replace as much as they can with sub standard parts with no consideration as to the year or low mileage of the vehicle. So now you are paying for a car that has been wrecked,repaired with aftermarket parts,placed on car fax, and given as little Diminished Value as possible. Two points, I work in this field on cars in a major body shop working with major insurance companies and State Farm lost a law suit and no longer use any of these parts with little if any premium increase. For educational purposes on an estimate Quality Replacement is aftermarket (substandard) and LKQ is (used) off of another car that has been wrecked. I hope this helps inform you a little better. Thanks.
