Deminished Value Claim
07-21-2011, 04:35 PM
#32
Racer
Join Date: May 2011
Location: Toronto, Ontario
Posts: 296
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07-21-2011, 09:09 PM
#35
Race Car
Small claims court is real easy. Fill out the form with a couple of appraisers indicating the LOV and file for $75. Go to pre-trial hearing and tell 'em you want your day in court. Mediator will ask you to leave the room. 15 minutes later they'll call you back in and make you an offer. Keep turning 'em down until you like what you hear, within reason. Remember the judge decides and they do not want to be in front of a judge.
07-22-2011, 11:39 AM
#37
There are people who make a modest living taking big businesses through small claims court. They don't want the expense related to court time and will settle out-of-court. Their corporate lawyers are too expensive to waste time defending a claim of a few thousand bucks.
I encourage you to try it. We pay too much for insurance and get so little in return.
If you do, I'll be the first in line to buy you a beer, even if only so I can hear the story!
I encourage you to try it. We pay too much for insurance and get so little in return.
If you do, I'll be the first in line to buy you a beer, even if only so I can hear the story!
07-22-2011, 10:12 PM
#38
Race Car
There are people who make a modest living taking big businesses through small claims court. They don't want the expense related to court time and will settle out-of-court. Their corporate lawyers are too expensive to waste time defending a claim of a few thousand bucks.
I encourage you to try it. We pay too much for insurance and get so little in return.
If you do, I'll be the first in line to buy you a beer, even if only so I can hear the story!
I encourage you to try it. We pay too much for insurance and get so little in return.
If you do, I'll be the first in line to buy you a beer, even if only so I can hear the story!
09-22-2013, 01:11 PM
#42
Drifting
Since this thread has been revived, let me mention that diminished value claims have been recognized by the courts in Western Canada for many decades. I'm a lawyer, and did some research on the topic a few years ago.
I am not aware that any insurers are covering d.v. for their own insureds, so in each case, it's probably a situation of bringing your own case in small claims court. In Alberta, there are small claims agents who can run cases for you, for a reasonable fee, and there may be agents available in other provinces as well.
If you have a newer special interest car that gets hit, it's definitely something to consider. An agent friend of mine told me about a customer whose new Lambo got hit, and its value went from $150,000 to about half that. I think he may have pursued a claim in superior court.
I am not aware that any insurers are covering d.v. for their own insureds, so in each case, it's probably a situation of bringing your own case in small claims court. In Alberta, there are small claims agents who can run cases for you, for a reasonable fee, and there may be agents available in other provinces as well.
If you have a newer special interest car that gets hit, it's definitely something to consider. An agent friend of mine told me about a customer whose new Lambo got hit, and its value went from $150,000 to about half that. I think he may have pursued a claim in superior court.
09-22-2013, 07:17 PM
#43
Team Owner
Since this thread has been revived, let me mention that diminished value claims have been recognized by the courts in Western Canada for many decades. I'm a lawyer, and did some research on the topic a few years ago.
I am not aware that any insurers are covering d.v. for their own insureds, so in each case, it's probably a situation of bringing your own case in small claims court. In Alberta, there are small claims agents who can run cases for you, for a reasonable fee, and there may be agents available in other provinces as well.
If you have a newer special interest car that gets hit, it's definitely something to consider. An agent friend of mine told me about a customer whose new Lambo got hit, and its value went from $150,000 to about half that. I think he may have pursued a claim in superior court.
I am not aware that any insurers are covering d.v. for their own insureds, so in each case, it's probably a situation of bringing your own case in small claims court. In Alberta, there are small claims agents who can run cases for you, for a reasonable fee, and there may be agents available in other provinces as well.
If you have a newer special interest car that gets hit, it's definitely something to consider. An agent friend of mine told me about a customer whose new Lambo got hit, and its value went from $150,000 to about half that. I think he may have pursued a claim in superior court.
