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Help on Diminished value claim

Discussion in 'Non-Vegas Chat' started by worldtraveler, Mar 20, 2017.

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  1. worldtraveler

    worldtraveler Tourist

    Joined:
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    My car was recently involved in a collision. The other driver was held at fault for turning right on a red light. The other driver's insurance is covering the cost of repairs. However, the value of my new car has gone down. I researched and it looks like there is something called as Diminished value claim which I can file with the insurer of the other driver for the loss of value of my car. Anyone has experience on how to get started with this process? TIA.
     
  2. spdandpwr

    spdandpwr VIP Whale

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    I'll be honest, diminished value claims aren't cake and a lot of insurance companies don't pay them out. That said, the most successful way to get it done is talk to the insurance company that's handling your claim and tell them you've spoken to counsel and that they think you could get a couple of grand back in diminished value and that you'd be willing to settle sans lawyers for X amount. Good luck!
     
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