Diminished Value Claim: Not a Myth
Rennlist Member
Joined: Feb 2004
Posts: 12,312
Likes: 10
From: Roseville, CA
Budget had the nerve to slap a 10% DV charge on a rental Mustang over the summer. (Hail damage that totaled the car.) This was Colorado, which I believe is one of two states that has case law on DV.
I never found out if the credit card primary insurance coverage paid up for that; just that they cut a check for $11K on a demand for almost $13K.
I never found out if the credit card primary insurance coverage paid up for that; just that they cut a check for $11K on a demand for almost $13K.
Thread Starter
Rennlist Member
Joined: Nov 2006
Posts: 2,210
Likes: 112
Oh, I know that, just wanted to point it out to others who may not realize how it works.
The same applies to most any insurance claim you make. For instance the first thing you want to do in most large dollar claims is to hire and independent appraiser (Which is really what Justin is).
Have you ever noticed the that when you enter a large city usually an insurance company owns one of the tallest buildings?
Thanks for the thread OP and I'm glad you got what you deserved. Although I'm sure you would much rather have a no incident car.
From a business standpoint, once your car is repaired it is probably the best time to sell it as it will never look better.
Regards,
.
The same applies to most any insurance claim you make. For instance the first thing you want to do in most large dollar claims is to hire and independent appraiser (Which is really what Justin is).
Have you ever noticed the that when you enter a large city usually an insurance company owns one of the tallest buildings?
Thanks for the thread OP and I'm glad you got what you deserved. Although I'm sure you would much rather have a no incident car.
From a business standpoint, once your car is repaired it is probably the best time to sell it as it will never look better.
Regards,
.
Thread Starter
Rennlist Member
Joined: Nov 2006
Posts: 2,210
Likes: 112
Budget had the nerve to slap a 10% DV charge on a rental Mustang over the summer. (Hail damage that totaled the car.) This was Colorado, which I believe is one of two states that has case law on DV.
I never found out if the credit card primary insurance coverage paid up for that; just that they cut a check for $11K on a demand for almost $13K.
I never found out if the credit card primary insurance coverage paid up for that; just that they cut a check for $11K on a demand for almost $13K.
Rennlist Member
Joined: Jan 2010
Posts: 766
Likes: 78
DV valuations are very real and they are becoming more and more common as consumers become educated on their options. I work for a company that actually can run Dv Valuations for insurance companies and it's one of our hottest products.
Rennlist Member
Joined: Feb 2004
Posts: 12,312
Likes: 10
From: Roseville, CA
(The real crime in junk fees is "Loss Of Use." They have 100 cars in inventory to rent, they'll still charge you for 4,5,20 days at full book because they couldn't rent THAT car.)
Rennlist Member
Joined: Mar 2012
Posts: 17,250
Likes: 2,220
From: SoCal
Question for those with experience:
I had a car hit while parked, was hit by an (allegedly) drunk driver who fled the scene and reported (allegedly) the car stolen.
So, my insurance company paid the full repair, etc. car is fine, damage wasn't bad. Some wheel, suspension and a bumper cover. No body paint, etc. BUT, now there is a ding on the carfax.
My insurance company is now subrogating the owner of the vehicle. I do not know the outcome of the stolen vehicle case.
QUESTION: Can I go after MY insurance company for a DV claim?
I had a car hit while parked, was hit by an (allegedly) drunk driver who fled the scene and reported (allegedly) the car stolen.
So, my insurance company paid the full repair, etc. car is fine, damage wasn't bad. Some wheel, suspension and a bumper cover. No body paint, etc. BUT, now there is a ding on the carfax.
My insurance company is now subrogating the owner of the vehicle. I do not know the outcome of the stolen vehicle case.
QUESTION: Can I go after MY insurance company for a DV claim?
Three Wheelin'
Joined: Sep 2005
Posts: 1,471
Likes: 8
I would say yes but any claim on your own insurance company, they will go after you to recover those cost. Your premiums will most likely increase on your next renewal.
I got dv on my minivan, lol so you will definitely want to get dv if you get in an accident. I just told the other guys insurance company I want diminished value and they gave me a very low offer. I went and got my own dv and it was much higher than what his insurance gave me. I ended up with a check for the amount that I wanted. So it's definitely not a myth.
I got dv on my minivan, lol so you will definitely want to get dv if you get in an accident. I just told the other guys insurance company I want diminished value and they gave me a very low offer. I went and got my own dv and it was much higher than what his insurance gave me. I ended up with a check for the amount that I wanted. So it's definitely not a myth.
Rennlist Member
Joined: Mar 2012
Posts: 17,250
Likes: 2,220
From: SoCal
I would say yes but any claim on your own insurance company, they will go after you to recover those cost. Your premiums will most likely increase on your next renewal.
I got dv on my minivan, lol so you will definitely want to get dv if you get in an accident. I just told the other guys insurance company I want diminished value and they gave me a very low offer. I went and got my own dv and it was much higher than what his insurance gave me. I ended up with a check for the amount that I wanted. So it's definitely not a myth.
I got dv on my minivan, lol so you will definitely want to get dv if you get in an accident. I just told the other guys insurance company I want diminished value and they gave me a very low offer. I went and got my own dv and it was much higher than what his insurance gave me. I ended up with a check for the amount that I wanted. So it's definitely not a myth.
now on DV, no idea.
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