Some of you may remember my post on my getting rear ended 12/23 with our Camry.
It's been determined that the girl who hit us is 100% at fault.I asked her insurance company about getting a diminished value payment.I was told they would get back to me.I figured they were blowing me off but they did call me yesterday and said they will look at Camry at the body shop when close or done being repaired and will get beck to me.

Anyone ever get a diminished value payment?
How does it work?

 

Joe, since the other drivers insurance is paying for the repair, maybe you could talk to you insurance agent and see if they have any advice on how to handle the diminished value issue.

 

Bob,I spoke to my insurance company and was told it would be hard to determine diminished value unless maybe if I was selling the car now.
However,the fact that I have a history of not keeping a vehicle long may help but still tough getting a payment.

 

I've received one when I was rear ended. I had to ask the (paying) insurance company a couple of times for it and be insistent about the diminished resale on my car due to the repairs and history that would show it was in an incident.

If I recall correctly it wasn't significant $$ - a couple hundred bucks, but my car was 9-10 years old at the time.

Shouldn't matter that you are not selling now, you will incur a loss at the time of sale because of their insured driver's damaging your vehicle regardless of when you sell it.

 

Dave,seems I may be offered something because they said they will send a rep to the body shop when the car is done or even to my home if the car is home.I'm told they will have to inspect the car for whatever reason.
Seems my insurance claims adjuster doesn't know much about diminished value.
Someone in the RX forum said they have extra coverage for diminished value.

 

I wish I knew about this when my G35 was rear-ended and repaired back in September of last year. I take it that its too late to call back and ask for a diminished value claim now huh...

 

I now have diminished value added to my insurance on my new RX 450h. It wasn't offered by my insurer when I owned my previous cars including my 2007 IS 350. I too was involved in an accident where the other person was found 100% at fault. I wish I had that coverage because I lost out big time on my resale of the IS 350, big time.

 

If you do not receive anything from the insurer, you can always do this and file it before April 15th for the previous year. You don't have to sell the car in order to claim it, either. You will need to know the values, though. As always, speak with your preparer.

Big Mack