Need some assistance with Diminished Value for '11 is350
#1
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Need some assistance with Diminished Value for '11 is350
Well I was in an accident 7 few weeks ago and it was the other persons fault. I sent out the form USAA asked me to last week and waiting for their low ball offer.
I live in GA so I know we have the ability to claim DV.
The is350 is a 2011 is350 bought in December 21'st and only had 2400 miles on it.
Total amount of damages on the Lexus was 18.9K. If the original quote was that much I would have hired a lawyer and had them total the car out, but the shop estimated it to be 14.5K. Hit me on my front left fender and destroyed the total driver side fender as well as DESTROYED the suspension. Airbags deployed and everything. Was in the shop for 35 business days.
Should I go ahead and hire an appraiser as well as someone that is knowledgeable regarding DV situations? And I am willing to go the lawyer route so I can have him crack some skulls.
Any help or suggestions would be very much appreciated, and I thank you for your time.
Hunter
I live in GA so I know we have the ability to claim DV.
The is350 is a 2011 is350 bought in December 21'st and only had 2400 miles on it.
Total amount of damages on the Lexus was 18.9K. If the original quote was that much I would have hired a lawyer and had them total the car out, but the shop estimated it to be 14.5K. Hit me on my front left fender and destroyed the total driver side fender as well as DESTROYED the suspension. Airbags deployed and everything. Was in the shop for 35 business days.
Should I go ahead and hire an appraiser as well as someone that is knowledgeable regarding DV situations? And I am willing to go the lawyer route so I can have him crack some skulls.
Any help or suggestions would be very much appreciated, and I thank you for your time.
Hunter
#2
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I believe if Jersey anyway,a vehicle has to have a repair of 75% or over to total it.
If Georgia has the same policy,an '11 IS350 would have to have more than $19K in damage to total.
I received an $1100 diminished value payment from other party's insurance company when my Camry was rear ended in Dec.$5500 damage.100% other party's fault.
If Georgia has the same policy,an '11 IS350 would have to have more than $19K in damage to total.
I received an $1100 diminished value payment from other party's insurance company when my Camry was rear ended in Dec.$5500 damage.100% other party's fault.
#3
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I believe if Jersey anyway,a vehicle has to have a repair of 75% or over to total it.
If Georgia has the same policy,an '11 IS350 would have to have more than $19K in damage to total.
I received an $1100 diminished value payment from other party's insurance company when my Camry was rear ended in Dec.$5500 damage.100% other party's fault.
If Georgia has the same policy,an '11 IS350 would have to have more than $19K in damage to total.
I received an $1100 diminished value payment from other party's insurance company when my Camry was rear ended in Dec.$5500 damage.100% other party's fault.
#4
Lexus Fanatic
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It would have been nice but $19K damage wouldn't total it.Let alone $14.5K number.
Diminished value number should be high but it's a fight.
In Jersey,the diminished value is in it's infancy.I was told they use a formula used in the south.
I got $1100 and maybe could have gotten a few hundred more but didn't want to push the envelope.$1100 was more than I thought I'd get.I didn't think I'd get anything.
Last edited by Joeb427; 05-26-11 at 06:28 AM.
#5
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hey hf, just want to say very sorry your nice car got whacked. hope it works out to some satisfaction.
#6
Lexus Fanatic
Sorry to hear about your misfortune. Do you still owe anything on the car, or was it paid off in one lump sum when you bought it? If not, and if it is totalled, you may have to also compare what is still owed on it with the check you get from the insurance company. That is what so-called "Gap" insurance takes care of.
#7
Lexus Fanatic
Sorry to hear about the accident, especially when it involves a pristine new car.
The car is not totaled, as clearly stated.
The IS350 owner not being at fault, so any payment is negotiable and first pass does not have to be the last.
The car is not totaled, as clearly stated.
The IS350 owner not being at fault, so any payment is negotiable and first pass does not have to be the last.
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#9
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I believe if Jersey anyway,a vehicle has to have a repair of 75% or over to total it.
If Georgia has the same policy,an '11 IS350 would have to have more than $19K in damage to total.
I received an $1100 diminished value payment from other party's insurance company when my Camry was rear ended in Dec.$5500 damage.100% other party's fault.
If Georgia has the same policy,an '11 IS350 would have to have more than $19K in damage to total.
I received an $1100 diminished value payment from other party's insurance company when my Camry was rear ended in Dec.$5500 damage.100% other party's fault.
Talked to our family's corporate lawyer and said that he would be more than happy to assist me free of charge.
Just have to wait until usaa reviews and calls me with opening terms
#10
Lexus Connoisseur
Well I was in an accident 7 few weeks ago and it was the other persons fault. I sent out the form USAA asked me to last week and waiting for their low ball offer.
I live in GA so I know we have the ability to claim DV.
The is350 is a 2011 is350 bought in December 21'st and only had 2400 miles on it.
Total amount of damages on the Lexus was 18.9K. If the original quote was that much I would have hired a lawyer and had them total the car out, but the shop estimated it to be 14.5K. Hit me on my front left fender and destroyed the total driver side fender as well as DESTROYED the suspension. Airbags deployed and everything. Was in the shop for 35 business days.
Should I go ahead and hire an appraiser as well as someone that is knowledgeable regarding DV situations? And I am willing to go the lawyer route so I can have him crack some skulls.
Any help or suggestions would be very much appreciated, and I thank you for your time.
Hunter
I live in GA so I know we have the ability to claim DV.
The is350 is a 2011 is350 bought in December 21'st and only had 2400 miles on it.
Total amount of damages on the Lexus was 18.9K. If the original quote was that much I would have hired a lawyer and had them total the car out, but the shop estimated it to be 14.5K. Hit me on my front left fender and destroyed the total driver side fender as well as DESTROYED the suspension. Airbags deployed and everything. Was in the shop for 35 business days.
Should I go ahead and hire an appraiser as well as someone that is knowledgeable regarding DV situations? And I am willing to go the lawyer route so I can have him crack some skulls.
Any help or suggestions would be very much appreciated, and I thank you for your time.
Hunter
Reason why I ask is because DV can be exclusionary on your contractual policy with your insurer. If it specifically states that diminution of value is excluded from your insurance policy, you can't claim it.
#11
Lexus Fanatic
iTrader: (1)
Same with my insurance company Traveler's at that time.
I had to get any DV from the other party's insurance company.With a bit of a fight,I did.
Now the fact I didn't file any medical claim may have helped.I didn't sign a waiver against future medical claims either.
I had lawyers sending me letters wanting to represent me in a medical suit but I didn't want to play the game.
I was told by many that with a rear end hit,you'll always get something.Many times on the steps of the courthouse.
Last edited by Joeb427; 05-31-11 at 05:02 AM.