Diminished Value Claim

[2018GMC]

This actually turned out surprisingly well. I was able to fight through a diminished value claim, (which honestly wasn't too bad), and the total that we agreed on with the other party's insurance company was pretty fair. Still sucks that I may get dinged reselling, but at least I was paid out enough to make up a portion of that potential loss.

Thanks for reply. I just had a parking lot fender bender. Only rear bumper is damaged but dealer quoted me 1800 to fix. How did you do diminished value claim? Just get 2 quotes from dealer on value with and without accident? I’m still arguing who’s fault so it it remains 50/50 then I think you can’t claim DV unless it’s on other parts insurance?

[Travis1024]

3 hours ago, 2009GMC said:

 

Thanks for reply. I just had a parking lot fender bender. Only rear bumper is damaged but dealer quoted me 1800 to fix. How did you do diminished value claim? Just get 2 quotes from dealer on value with and without accident? I’m still arguing who’s fault so it it remains 50/50 then I think you can’t claim DV unless it’s on other parts insurance?

Damn - sorry to hear that! I'm trying to remember the exact process I went though. But I'm pretty sure it is as follows -

 

1) Adjuster estimated cost of repair (much lower than it cost of course) and sent it to both insurance companies. '

2) I then took that estimate, as well as my truck to my body shop of choice. The body shop then provided a quote on what the repair would be. Ended up being 1900 vs the 390 that they wanted to give me. The shop I went to, actually contacted the insurance company for me and provided them their quote.

3) Everything was agreed upon, and the repair (fender replacement w/ paint in my case ) was made.

4) Once everything was completed, I contacted their insurance company, and started speaking about diminished value (my truck only had roughly 10-12k miles on it at the time which worked in my favor). They allowed me to submit a claim, had to fight a little, but my experience wasn't too too bad.

5) About a week or so after, they called me asking for my bank account information so that they could auto-deposit a check into my account and verbally told me what they were giving me. They sent me a confirmation email with a picture of the deposit transaction, and it came through to my account a few days after.

 

Hope this helps!

[2018GMC]

Damn - sorry to hear that! I'm trying to remember the exact process I went though. But I'm pretty sure it is as follows -

 

1) Adjuster estimated cost of repair (much lower than it cost of course) and sent it to both insurance companies. '

2) I then took that estimate, as well as my truck to my body shop of choice. The body shop then provided a quote on what the repair would be. Ended up being 1900 vs the 390 that they wanted to give me. The shop I went to, actually contacted the insurance company for me and provided them their quote.

3) Everything was agreed upon, and the repair (fender replacement w/ paint in my case [emoji3]) was made.

4) Once everything was completed, I contacted their insurance company, and started speaking about diminished value (my truck only had roughly 10-12k miles on it at the time which worked in my favor). They allowed me to submit a claim, had to fight a little, but my experience wasn't too too bad.

5) About a week or so after, they called me asking for my bank account information so that they could auto-deposit a check into my account and verbally told me what they were giving me. They sent me a confirmation email with a picture of the deposit transaction, and it came through to my account a few days after.

 

Hope this helps!

 

Thanks for reply. I’m still arguing who’s at fault with insurance. Mine was a parking lot fender bender so no police report, etc and they default blame to 50/50. My truck has 2k miles and not even a month old.

 

Glad to hear yours worked out though!