Damn

[Ronbo]

Please folks tell me about this diminished value???

Basically, after a crash, the value of your vehicle is reduced due to the fact that it was involved in a crash and damaged. It is no longer valued as it would be prior to the crash. It’s a loss of value that you’re entitled to claim. Insurance companies will not tell you about this, you have to ask for it.

Diminished Value Explained

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[micl9]

Damn Neal!
Sorry to see that. But glad you are OK.
I used a guy out your way for a do I diminished value claim. I will dig up his contact info and send it to you.
I have a passenger mirror ?

 

[NurseNeil]

Damn Neal!
Sorry to see that. But glad you are OK.
I used a guy out your way for a do I diminished value claim. I will dig up his contact info and send it to you.
I have a passenger mirror ?

That's right you do....I might be out that way next week...find that insurance. Do i have to do it thru the same insurance claim of that person that hit me.

 

[AzScorpion]

Basically, after a crash, the value of your vehicle is reduced due to the fact that it was involved in a crash and damaged. It is no longer valued as it would be prior to the crash. It’s a loss of value that you’re entitled to claim. Insurance companies will not tell you about this, you have to ask for it.

Diminished Value Explained

I always add full value replacement on my vehicles. It use to be you'd loose $4K-$5k just walking out the door but I guess for now those days are gone. It's still a good idea to add this and it doesn't cost all that much extra. I have the same on my house because building materials always rise and it's a good safety net to have on all your policies.

 

[NurseNeil]

I always add full value replacement on my vehicles. It use to be you'd loose $4K-$5k just walking out the door but I guess for now those days are gone. It's still a good idea to add this and it doesn't cost all that much extra. I have the same on my house because building materials always rise and it's a good safety net to have on all your policies.

So do I add this or just ask for it??

 

[9zero1790]

man so many r5g friend having accidents lately it seems. im gonna drive super careful now. glad your not hurt neil!

 

[MountainGoat]

man so many r5g friend having accidents lately it seems. im gonna drive super careful now. glad your not hurt neil!

I was about to make this same comment. Maybe I'll ride a bike for awhile...oh wait does that mean I'll get run over??

Regarding diminished value according to sites like Carfax our trucks have actually gone up in value no? How's that figure in? Anyways hope your truck gets fixed without too much headache op.

 

[NurseNeil]

I was about to make this same comment. Maybe I'll ride a bike for awhile...oh wait does that mean I'll get run over??

Regarding diminished value according to sites like Carfax our trucks have actually gone up in value no? How's that figure in? Anyways hope your truck gets fixed without too much headache op.

So do I get money for the difference between what it truly worth and what it worth after the accident??

 

[NurseNeil]

Damn Neal!
Sorry to see that. But glad you are OK.
I used a guy out your way for a do I diminished value claim. I will dig up his contact info and send it to you.
I have a passenger mirror ?

So do it get the difference of the value of what it was supposed to be and the value of after its fixed??

 

[MountainGoat]

So do I get money for the difference between what it truly worth and what it worth after the accident??

I don't know. In the past new vehicles always went down in value "as soon as you drive it off the lot" is the old saying. But with inflation and other factors it's not the same anymore. My Ranger I bought for $29K had a Carfax offer of $34K with 12k miles on it. So maybe that is something you can use in your case.

 

[RANGER_MARC]

Well first real accident. Was in stand still traffic and a Chevy Avalanche wasn't paying attention. He swerved into the median as to not take a bumper to bumper Collision. Had to get tire changed. I am good, sucks to be this guys insurance. Wonder how long and how much? Who knows with all the sensors and all...I am good..hope my truck will get the tlc it needs.

That's why they call it "Avalanche." Hope you are O.K., bud!

 

[Peragrin]

that sucks, glad your okay. you should tell your repair shop factory mirrors are tough to get but you can get some aftermarket ones and see if they will upgrade you to clearview towing mirrors on the insurance.



maybe if I drum up enough sales for them they will throw me a discount on a set?

 

[AzScorpion]

So do I add this or just ask for it??

Just call your insurance company and ask them about it. I know I had to ask mine (Travelers) to add it when I first moved out here to my Tacoma and also my Ranger. Back in MA I had Commerce/ MAPFRE insurance and they added it automatically for me.

 

[wanted33]

Never underestimate the ignorance of other drivers. Sorry to see this Neil, but happy to hear you're OK.

 

[micl9]

Hey Neal
Once his insurance co gets in touch with you and you are assigned an adjuster tell them you will be filing a diminished value claim. This is usually done post repairs. The contact I sent you will be able to walk you thru the process. I don't recall your mileage but if its high this may not be an option. Give Danny a call - he is very helpful.

I did this after our 2016 MB GLK got rear ended in 2020. It was a pristine, 1 prev owner vehilce with 20k miles. Danny worked wonders.

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