Diminished Value Claim

[ClassaxV]

Man that truly sucks. Hate to see this happen. Glad you're ok at least.

 

[RobC7]

Ouch, definitely a difficult situation to be in. Hopefully it works out the way you want it to.

 

[MattH]

In my experience you can only file a diminished value claim if you were not at fault. When I hit a deer in my Shelby last year I tried to make a claim in addition and you cant go after your own insurance for diminished value. Now in 2021 I had a C8 and a local "tint" shop said they could wrap my a pillars and behind the targa black and ended up doing about 5k worth of damage cutting the paint etc....its a long story. I worked with the shops insurance and explained to them that I intended to be compensated for the diminished value since it would show on the Carfax that it had been repaired etc...after the car was fixed I went back and forth and ended up at 10%. I tried to get 10% of the value of the car at the time, which was alot more then msrp to no avail. They cut me a check for 6300, which imo was a win. Sticker for my C8 was 63k, I sold it to a local dealer for 88,500, plus the 6k from insurance, I made out pretty good.....lol. It never showed on Carfax btw......

 

[ernsteeng]

lol. It never showed on Carfax btw......

It can take months before it shows. My bmw had a clean carfax when i bought at 2.5 years old. When I went to sell 4 years later it I found that it had some body damage on the rear passenger door area that was only now showing on the carfax. When the new owner sells the car it will probably be there.

 

[RDATLTE]

In my experience you can only file a diminished value claim if you were not at fault. When I hit a deer in my Shelby last year I tried to make a claim in addition and you cant go after your own insurance for diminished value. Now in 2021 I had a C8 and a local "tint" shop said they could wrap my a pillars and behind the targa black and ended up doing about 5k worth of damage cutting the paint etc....its a long story. I worked with the shops insurance and explained to them that I intended to be compensated for the diminished value since it would show on the Carfax that it had been repaired etc...after the car was fixed I went back and forth and ended up at 10%. I tried to get 10% of the value of the car at the time, which was alot more then msrp to no avail. They cut me a check for 6300, which imo was a win. Sticker for my C8 was 63k, I sold it to a local dealer for 88,500, plus the 6k from insurance, I made out pretty good.....lol. It never showed on Carfax btw......

I’m definitely not at fault. I share the same insurance company with the lady who hit me. I don’t know if that’ll work for me or against me.

 

[MattH]

It can take months before it shows. My bmw had a clean carfax when i bought at 2.5 years old. When I went to sell 4 years later it I found that it had some body damage on the rear passenger door area that was only now showing on the carfax. When the new owner sells the car it will probably be there.

Carfax can't be trusted. Its been over a year and its not on there. it says glass checked.....lol alot more then the windshield was replaced.

 

[FrankRizzo]

Where is CA?
I would honestly talk to a Lawyer if that is the route you want to go and make their fees part of the settlement. Ask the Ins. co. about the DV during settlement and if they deny it calmly tell them that you are going to obtain Counsel to pursue your added losses... if they do not want to deal with this timely.
If they refuse, find a contingent lawyer - like a lemon law attorney.

 

[RDATLTE]

Where is CA?
I would honestly talk to a Lawyer if that is the route you want to go and make their fees part of the settlement. Ask the Ins. co. about the DV during settlement and if they deny it calmly tell them that you are going to obtain Counsel to pursue your added losses... if they do not want to deal with this timely.
If they refuse, find a contingent lawyer - like a lemon law attorney.

I'm in OC. I've already spoken to my Beverly Hills Attorney friend. He had previously recommended and I was in contact with a Lemon Law Attorney when I had some problems with this car initially so, I still have his contact information as well. We shall see. First, the repair.

 

[FrankRizzo]

I'm in OC. I've already spoken to my Beverly Hills Attorney friend. He had previously recommended and I was in contact with a Lemon Law Attorney when I had some problems with this car initially so, I still have his contact information as well. We shall see. First, the repair.

Wish my arms we longer to pat myself on the back for a good answer!

Best of luck!

 

[RDATLTE]

It is drivable. Hopefully, there’s no tire, wheel or suspension damage. It’s my wife’s daily and she isn’t happy about driving it looking like that. She’s taking my manual ZL1 1LE to work tomorrow and she’s never driven it before.

For those who care, it appears that the ZL1 1LE made it back and forth, which is about 12 - 18 miles round trip, unscathed. I won't know that for sure until my next detail. She's rather proud of herself. Hopefully, it's back to the smashed up Blackwing for her now. She takes great pride in the Blackwing, which I detail for her on a near weekly basis, and is understandably crushed by this accident.