Diminished value advice needed
Rennlist Member
Joined: Jun 2010
Posts: 107
Likes: 51
From: NC
17C formula does not apply to our cars
Most insurance companies use the 17C Diminished Value formula when calculating the proposed payout. In the states that allow Diminished value claims, that formula is an approved method for additional compensation supported and approved by the courts
So, the insurance companies are not just pulling a number out of their @ss and unfortunately the number is usually not a large amount.
I would find out the formula the insurance company followed, and the multipliers used...then go from there!
So, the insurance companies are not just pulling a number out of their @ss and unfortunately the number is usually not a large amount.
I would find out the formula the insurance company followed, and the multipliers used...then go from there!
Long and short, insurance companies try to apply it until they get push back.
May want to watch this recent Porsche Club of America video on Diminished Value.