Joeb427

iTrader: (1)

Some of you may remember the pictured I posted of getting rear ended on 12/23 in our 3 month old Camry hybrid.





Girl that hit was was 100% wrong.$6K in damage.
The Camry was picked up last week.Fabulous job by my shop.No rattles,creaks or any other problem.The car still rides smooth and quiet.
I've been dealing with the insurance company of the other girl that hit us on getting a diminished value stipend.
I received a call this morning from the insurance rep and he went on and on about the formula used,the process is in it's infancy in NJ,used the southern states formula.
The rep was at my body shop when the car was done and checked the Camry and said the job was done very nicely,no structural damage yadayada...I said but the Carfax will lessen the value.He agreed and went on to say this formula is used etc,etc.
Bottom line was he said he can get a check out today for $1080 and I don't have to sign a medical release like usual.I probably could have gotten a couple hundred more but settled.
$1080 is not bad for a phone call and a couple of follow up calls I received.
Still wasn't worth the hassle of the accident but it's something.$1080 isn't enough if I were to trade it in today but I'm happy with the number and keeping the car.
I had an '07 Camry XLE that met a deer 8 months into ownership to the tune of $9200.Traded that car in right after the repair and took an $1800 diminished value hit.
I've never heard of anyone getting this type of payment in NJ.I don't think many know about it.

dsnowgs4

Never heard of that concept....

I will keep that in mind if I ever am faced with a simillar situation. Sux to have a new car damaged...

Glad you are happy with the results.

Joeb427

iTrader: (1)

I really don't know how it works.The formulas and such.
I knew the other party was 100% at fault and when I got the official 100% at fault report,I called her insurance company claims rep asking for the a payment to help offset the Carfax value adjustment.I was told they don't do that but was told she would talk to her supervisor.I then was told I'll get a call from someone who deals with diminished value claims.A few days later I did.
I probably could have received more but I just want to close the book on this whole incident.

IS-SV

The concept exists in CA. And your case was good, given the other driver was at fault and you are collecting from the driver's insurance company.

Glad you followed-through with good results, nice outcome for those that are knowledgeable and persistent.

LexFather

Thanks for the update!

kitlz

Joeb, that's great news about getting some money for diminished value. Even better is that the body shop did a good job with the Camry No wonder we pay the most for car insurance with idiots like that on the road