kickin8

iTrader: (1)

some of the insurance company do not pay "diminishing value" unless you sell the car....

Pivo154

No one else was involved in the accident. It was raining & I lost control and hit a tree.

L3XOTIC

If a Lexus/Toyota certified repair shop does the job you will be fine. I doubt it gets to a total loss unless that damage amount goes up for a third time.

calvin2376

iTrader: (2)

Google "diminished value claims by state" and look up your state's precedents on upholding or denying diminished value claims. Definitely call your insurance and inquire about filing one. It's essentially just a check from the insurance company to compensate you for the loss in value to your car due to the accident. You can also search CL for it, a few members have made successful claims on it recently.

stlgrym3

iTrader: (4)

from what i understand you can only get the diminish value check from other party's insurance company. your own insurance company only responsible to repair your car, that's it. if the accident is your fault then you're out of luck with the diminish value check.

calvin2376

iTrader: (2)

You're exactly right. I only advocated calling his own insurance company so he could inquire about the proper process for filing a diminished value claim with the at-fault party's insurance company (since I don't think they would be terribly helpful in directing you on how to file a claim they'd ultimately have to pay).

Diminished value claims are interesting. You can read more about them by Googling, checking sites like this: http://www.vandenplas.com/diminished.htm. Basically, they're meant to compensate you for the loss in value of your car due to the accident. It's paid on top of whatever the cost is for repairs. Think about it this way - you have two otherwise identical IS250s, except one has been in an accident but has been repaired perfectly. No matter how good the repairs, the car with the accident in its history will sell for less than the other, and that's what diminished value claims are intended to compensate you for.

The interesting bit is there aren't laws or statutes dictating whether you can or can't successfully collect on a diminished value claim. Your ultimate success is essentially determined by the courts which will usually refer to existing case law, or precedent cases, which show how your state's courts have treated diminished value claims in the past (that is, whether they've ruled in favor of the plaintiff collecting or not).

This site (http://www.mwl-law.com/CM/Resources/...imuinution.pdf) shows a breakdown of case law supporting or not supporting diminished value claims in all 50 states. You're in LA - the most recent case precedent appears to support collecting on a claim:

In Defraites v. State Farm Mutual Auto. Ins. Co., 864 So.2d 254 (La. App. 2004), the Court of Appeals held:
“Louisiana law provides that diminution in value of a vehicle involved in an accident is an
element of recoverable damages if sufficiently established. In a case involving damages to
an automobile, where the measure of damages is the cost of repair, additional damages for
depreciation may be recovered for the diminution of value due to the vehicle’s involvement
in an accident. However, there must be proof of such diminished value. Davies v. Automotive
Casualty Ins., 26, 112 (La. App. 2 Cir. 1994), 647 So.2d 419. The jurisprudence awarding damages
for depreciation involves facts wherein a repaired vehicle decreases in value, despite a quality
repair job, solely due to the fact that the vehicle was involved in a collision.

So it appears the appeals court held you could collect diminished value, but you'd have to show diminution of value, which I would imagine could be accomplished through a simple appraisal after the repair process is completed.

A lawyer in this field or a CL member who has collected on a diminished value claim in the past would be a good resource in looking into this further. But I highly recommend looking into it - I know I read a thread a few weeks back that someone got their car repaired completely and then got a $3000-4000 check on top of it for diminished value.

Pivo154

I understand but since it was my fault (no one else was involved in the accident) then that excludes me from this..

calvin2376

iTrader: (2)

Nevermind then! Didn't realize it was your fault - there have been so many accident threads recently I got mixed up!

Pivo154

It sucks I should still be able to collect =( I pay for full coverage

Sffd103

iTrader: (16)

and they will FULLY pay for repairing your car. That's about it.

Pivo154

That is why we pay for auto insurance =)