What's the best way to claim diminished value after accident?

<div class='quotetop'>QUOTE(mcbrunnhilde @ Aug 2 2007, 05:43 PM) [snapback]489678[/snapback]</div>

A good attorney can call into question even eye witnesses credibility.... Actually, the damage to your friend's car is a better explanation of who is at fault - police departments are well trained to identify who hit who. Presuming a police report of the accident was filed, they will have identified who was at fault.

Responding to diminished value, determining the amount to which the value has been diminished is something of an art. However, the best measure is what a willing buyer is ready to pay with the knowledge of the damage that the car has sustained. The difference between Kelley Blue Book dealer trade and the quote for the damaged car is the diminished value. The best willing buyer to use is a dealer used car manager. They also have the best credibility for refuting the other side's attempts to inflate the present value of the car.

In terms of how to get the diminished value, unless your friend's insurance company offers to go after the other party's insurance (doubtful), your friend is basically on their own. They can retain an attorney (any personal injury as a result of the accident?) who would handle the diminished value as part of an overall representation. There may be other ideas on recovery, but those are what immediately occur.

Hope this helps.

 

<div class='quotetop'>QUOTE(mcbrunnhilde @ Aug 4 2007, 12:41 PM) [snapback]490590[/snapback]</div>

It is their industry.... I am also suggesting going to the used car sales manager at a dealer that sells the same manufacturer's cars as your friends car - further boosting the credibility of the valuation. The insurance company is going to kick and scream at the number, so might as well have the most defensible source possible.

 

I got a reduction in value claim a few months ago after someone hit my baby. It was determined to be the other driver's fault. I worked directly with her insurance company to get the claim, although I used my State Farm to do the repair (in order to get their lifetime warranty on the work done and parts used) and they sought reimbursement from Allstate for the damage. They (Allstate) were pretty nice about it. Once the car was completely repaired to my satisfaction, I had to go into a Toyota dealer and get a written appraisal of the car pre-damage (never wrecked) and post-damage. The sales manager really just used the KBB numbers available on-line and typed up a 3-sentence letter on letterhead for me. I forwarded it to the claim rep at Allstate and about 10 days later I had a check.