Diminished Value claim settlement
12-03-2004, 08:21 PM
#1
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Diminished Value claim settlement
For those of you who remember, I was backed into by a Comcast service van about a year ago causing the replacement of my front bumper cover,both front fenders, hood,fog lights, and headlights, and paint. Comcast's insurance fixed everything at a shop I specified and I also filed a "diminished value" claim for loss of value for a car that has been involved in an accident. The insurance company finally accepted my documentation and settled my claim. So for those of us who are hit by other people...we can claim damages for the "diminished value" due to the car having been involved in an accident. My claim was not small and involved close to 15% of the value of the vehicle. I now feel better and vindicated for my loss. 
12-03-2004, 11:37 PM
#7
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Hey Pete...how are you, bet you miss the fog and rainy days we are having (not).
My insurance company is USAA, but I didn't even tell them as it was a very cut and dry thing where the driver of the van was ticketed and admitted fault to the police and was so stated in the report. Comcast had US Fidelity which went thru a company out of Denver called SSR. It took about a year with lots of letters and fax's and finally I got a lawyer to write a letter with my final demands. Washington State law stands behind the injured party for all expense's and loss of value of the vehicle. The documentation that finalized the deal was an appraisal of my vehicle by Park Place(high end exotic's dealer) here in Bellvue as though it had not been involved in an accident and the true value now that it had.
I learned a lot,but the most important was that insurance companys like to put you off with the run around as much as they can even if they know you are right and have a claim. The legal avenue seemed to get their attention after several letters from me and they offered what I wanted to settle.
I wanted to share this, so anyone who has the unfortunate fate as to be hit by someone...the damages are more than skin deep.
My insurance company is USAA, but I didn't even tell them as it was a very cut and dry thing where the driver of the van was ticketed and admitted fault to the police and was so stated in the report. Comcast had US Fidelity which went thru a company out of Denver called SSR. It took about a year with lots of letters and fax's and finally I got a lawyer to write a letter with my final demands. Washington State law stands behind the injured party for all expense's and loss of value of the vehicle. The documentation that finalized the deal was an appraisal of my vehicle by Park Place(high end exotic's dealer) here in Bellvue as though it had not been involved in an accident and the true value now that it had.
I learned a lot,but the most important was that insurance companys like to put you off with the run around as much as they can even if they know you are right and have a claim. The legal avenue seemed to get their attention after several letters from me and they offered what I wanted to settle.
I wanted to share this, so anyone who has the unfortunate fate as to be hit by someone...the damages are more than skin deep.
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12-04-2004, 12:08 AM
#9
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I was in that situation with a six month old Z06. I shut them up by making them either buy it or sell it at market price for me. AFTER the damage was repaired...
I walked away with a brand new Z06.
I walked away with a brand new Z06.
12-04-2004, 01:54 AM
#11
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Originally Posted by vjd3
In Massachusetts, there is no recourse for diminished value.
Congratulations rcwelch! I hope your success convinces others to stand up to insurance companies.
Last edited by JasonAndreas; 12-04-2004 at 03:26 AM.
12-04-2004, 09:14 AM
#12
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You lucky guy!! I just got my 993 back after 5 months at the Porsche dealer, after a taxi decided to do a U-Turn infront of me and had to pay U$ 4,600 is 'betterment' fees.
It's a standard practice with Hong Kong insurance companies. According the them the vehicle is better now as it has newer parts!! The taxi driver is being sued by the police for careless driving, after which, I have to take a private action against him to get back my 'betterment' charges.
It's a standard practice with Hong Kong insurance companies. According the them the vehicle is better now as it has newer parts!! The taxi driver is being sued by the police for careless driving, after which, I have to take a private action against him to get back my 'betterment' charges.
