Diminished Value Claim Help

Not really a good forum for this but seen a few threads pop up in here on this. So me and wife got rear ended on thanksgiving coming home from her family’s dinner on hwy, other drivers insurance accepted liability and currently being repaired. Her RAV4 Hybrid is less than 4 months old, ceramic coated and all and trying to figure out how to get reimbursed for that if possible since that area will need recoated but mainly a diminished value claim. Read briefly on it and looks like I need to make a claim based on the value prior to the accident and then calculated with repairs etc. does anyone know a company/appraiser that does this or can I do this through State Farm? The call center lady didn’t really know and everything I’m finding is vague on the process. Thanks in advance!

 

find 5-10 Tacomas for sale within like 50miles of your zip code that are similar year/model/miles and give the vin’s to the insurance company and they should be able to run a value report.

Also I wouldn’t get your hopes up about being reimbursed for the ceramic coating.

 

After the damage claim is done with all repairs actually completed, then you inform the at fault party's insurance that you would like to file a diminished value claim. They should take it from there as far as appraisers because at that point it is really doing calculations based on the pre damage value, total amount of damage, and then the estimated value after repair. You should have to get your own appraiser only if you disagree with the insurance company's estimates.

 

What state are you in? This makes a difference as it varies from state to state.

In NY, we were SOL when someone t-boned my wife's Jeep. Part of the reason we traded that thing in on her 2022 4Runner TRD Sport.

 

IL

 

Google diminished value estimator. they will charge you a fee and provide you a written report that you submit to the insurance. There might be some back and forth but hiring one is in your best interest.

 

Why it’s a modification, same as wheels etc. I just want the recoating of that panel / area paid for.

 

Any recommendations?

 

Good write up here:

https://www.chicagotribune.com/suburbs/ct-ppn-column-help-squad-tl-1130-20171120-story.html

 

I dont live in Illinois, you want to deal with someone local.

 

i wasn’t saying they wouldn’t just that
Modifications usually have a limited coverage amount or none at all. State Farm may cover it from what I have seen.

My thought was they probably wouldn’t reimburse you if you got it detailed the week before the accident so why would they for a coating

 

A coating is more than a detail, lol but I see your point.

 

Your insurance agent ought to be able to guide you through the process.

 

they will probably try to buck you on this, we got hit in a 2017 RAV4 that had 3500 miles on it and it still hasn't been settled yet which is why i tell everyone to get a Dashcam. Be civil but dont take no for an answer, if they try to play hardball talk to a lawyer. Hopefully they won't give you a hard time.

 

Also a few used car dealership, salesmen /owners are qualified to give these reports. They buy and sell cars at auction and understand the value hit as well as anyone.

 

Oh I know lol. I’ve been and adjuster for 8 years. If you complain enough to the right people they’ll cover it. Just might have to get authorization from the adjusters supervisor or manager

 

https://www.bankrate.com/insurance/car/diminished-value-claim/

 

Rarely does anyone get anything for diminished value.

It's a car and its at risk every day.

I'd be more concerned it's repaired properly than the loss of value.

 

The body shop estimator or state farm?

 

Most people end up not happy with a diminished value claim. It's the insurance companies' goal to pay you the least amount of money as possible.

Did you or your wife go to the hospital after the crash or at least see a doctor? If not, 100% have go get checked out. Rear end collisions are the easiest to claim pain and suffering for. Not suggesting you go this route but if they really give you a hard time with the diminished value claim then you can easily go for a pain and suffering claim for the both of you. Whiplash/back and neck injuries sometimes won't show up until weeks or months after the accident.

I know this sounds like the bum move but the insurance company does not give a shit about you or your wife of the fact your truck will be worth less after the accident.

My gf bumped a lady from behind at a stop sign last year. The collision was so light that the lady's son who was in the back seat didn't even wake up from his nap. My GF insurance covered the minor scratches and fast forward 9 months later this same lady was making pain and suffering claims. This lady didn't even have car insurance and still won the claim. The amount of money she got would sicken you.