I had never even heard of a Diminished Value claim until another member recommended I file one after my 370 was rear ended. Basically its a claim against the loss of value of your car after being involved in an accident.
The person who hit me had Met Life, filing the diminished value claim was pretty straightforward, they got back to me quickly and offered me $3800, he came by that number by taking a trade in value on my car in perfect condition and then in fair condition and subtracting the two. Other insurance companies might do things differently however.
Total damage to my car was about $6000 (they had to replace the floor pan in the hatch). All welding was done using the oem style spot welders, you can't tell the car was in an accident at all. So I think it's pretty fair, if I ever decide to sell the Z I at least got back what I could potentially lose in the sale.
So keep it in mind, if you're ever in an accident with your Z and the other driver is liable, file a diminished value claim!
