Insurance experts help!
 

I was involved in a very small car accident, rear bumper will need to be replaced and that is it, i asked about diminished value money and they're offering $300, i think %10 would be reasonable which is close to $2K, am i out of line here asking that much? This is Progressive.

Advice I have gotten before from people who are pretty experienced:

If its your insurance, than you can ask... but that extra cash will get factored into your premiums so its not really worth it.

If its someone else's insurance... NEVER accept that first offer.

Its not first offer, first they offered 200, then i countered with %10, then then came back with 300...unless i get overwhelming response that 300 is fair, i will file a complaint with state insurance commissioner, its someone elses insurance so i'm trying to get every penny i can.

So true. When my SUV was rear ended, their insurance company was trying to locate a salvage rear hatch. I refused as the car was only a few months old. I demanded a new hatch. After going round and round with them and their adjusters, I got a whole new OEM hatch assembly. It was my insurance agent that told me to push the subject.

I've had only one experience with diminished value, and that was in the late 90's. I had a friend at the time who worked at a large auto dealership as a sales manager. He wrote a letter to my insurance company detailing what he would offer for my car before and after the repair work was complete and his rational for his assessment based on what he could likely get for the car. They initially stated they did not honor/recognize diminished value claims. The settlement was in dispute as another party was determined at fault, but her insurance company refused to accept responsibility. In the end, 21/2 years later, her ins co settled the case, and I got all the diminished value we were asking. I know this seems a lot different from your situation, but it is the only experience I have with this issue. Good luck.

Thanks, that helps i will get something from dealer in writing that way i'll have some good data, besides 'i googled it'

Ins.
 

Good info. Thx all.

Diminished value is usually 10% of the repair cost. Not 10% of value of car