Teach me about insurance

I got hit today. Not at fault.
I have a 2006 Tacoma 200k on the odometer. New Frame.

Damage is cosmetic and some structural. Door jams Frame is okay. First estimate is 6.5k

How does work and is it worth it to pursue a diminished value claim?

On a side note the other party wants to not involve insurance. Kinda sketch but I get it.
Don’t worry I have all the info and pic of plate and license and a report.

 

Only a FOOL lets the other guy off without an insurance claim,you will get royally screwed doing that,call his insurance and give them all the info and tell them too fix your truck !
Diminished value would be a waste of time on your 15 year old truck.

 

Turn it in on the at fault insurance, that's the whole point in having insurance.

 

hmmm, willing to pay 6.5k but not use insurance?

 

No kidding..

 

diminished value is for newer vehicles. your truck has depreciated to the point it would no longer diminish the value.

I agree with the others chiming in, the driver at fault is going to screw you. I'd make a claim and let my premium go up a few hundred each year before I shelled out 6k.......

 

As an Ins agent, file it with the at fault party's ins if you want it fixed. If you don't care about it and just want compensation from the other party, take cash and leave the dmg. Personally, I'd file it with the at fault party's ins. Not just to get it fixed but to put a claim on his record for next 3-5 yrs. Maybe he'll pay more attention next time instead of buying his way out.

Edit, I recently got hit in rear. Lady tried to say it wasn't bad and no need for police report. I called them anyway. Turned out was way more than the few scratches I saw on the side of the road. I reported to her carrier, she never responded to them. Adjuster only took my story because it matched the police report. CYA

 

Agree 100%. Let his insurance company fix your truck, but make sure you pick the shop you want. The problem with letting the other driver pay out of their pocket is if you get the whole truck fixed, then hand them the bill and they say, "Um ..." Don't go there.

 

Don’t be a nice guy. This needs to go through insurance. I got screwed the one time I tried to help some random dude who hit me.

 

Also insurance is a crooked business. They will try to screw you over and put after market parts on your vehicle to cut cost. I work in the automotive industry. I sell parts. I deal with those companies so I'm speaking from first hand experience. Make sure they put oem on your truck.

 

Agree with all of the above. Don't hesitate to consult with your own insurance agent/company for guidance through the process. Mine acted on my behalf on a no fault accident (I was hit) many years ago.

 

This 100%, You are not at fault, file the claim

 

Good point on the OEM parts. If it was a newer truck, it would be a no-brainer. It might be a little harder to convince them on a truck as old as the OP's though. Worth a try.

 

Going through his/her insurance makes it easier if you have to go back for more money. That original estimate is an estimate, not a final guaranteed total.

 

How does this work? I get that if I cause a wreck my insurance may Only pay for aftermarket parts to repair MY truck - after all, that’s the insurance contract I signed. But how do they get away with putting shitty aftermarket parts on the nice Benz I may have crashed into?

 

In some states, once you leave the scene of the accident without a police report, you void any guarantee that the other person will pay. My wife got hit by someone last year in VA. They exchanged license info and phone numbers. A couple days later the guy said it want him. We talked to the police about it and they basically said there was nothing we could do because we left the scene without a police report.

Another dumb VA insurance law. If you say the accident was partially your fault for example 5% you and 95% the other person, making a claim against them is now void. If the other person is at fault, call your insurance company and have them give you legal advice. They don't want to pay so they will make sure the other person does.

 

negotiate another 4 large on top of the 6k

 

Thanks for the input. Good to know diminished value probably out of the question then.

I’ll be filing shortly.
Realistically I don’t care about the damage. The truck was destined to be an old beater anyways. Probably just touch up the paint for rust.

 

I would never trust anyone to pay out of pocket u will never see a dime . Trade insurance information always . People will try to screw u if they can .

 

That honestly doesn’t look too bad. In this exact situation I would gladly take the $6,500 in cash from him and leave the damage and move on with my life