Insurance what do you think?

sonic370

Quick history lesson. Iv'e got a 09 bought new 0 miles. Just when it turned over 3200 miles little old lady ran over me in a mall parking lot. Ended up with 4500.00 in damage which her insurance is covering. Here is where the fun starts.
Now were going back and forth over diminished value! I mean if i traded it off tomorrow the trade in value would be less than what it would have been before she hit me. That's the first question they ask you.Has your car ever been damaged. So anyway anyone ever been thru this. And what do you think would be a fair diminished value.

Modshack

Check this thread: did your 370 get hit? file a diminished value claim!

Several of us have received diminished value checks. The Ins co., if they are legitimately working with you, will have a department or person dedicated to dealing with this. They will send an appraiser out after the repairs are completed and he will submit a report. They will then make you an offer. There is a ton of information on the Net if you google "Diminished Value Claim".

Here's a preview: iCan Diminished Value | Claims FAQs | Consumer Tech Support

Also, my shop, with lots of experience in this said to figure 25% of the repair cost (on average) though it will often work out to more than that depending on the circumstances. You may or may not take a Carfax hit.

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sonic370

Thank you i will check it out.Do you know how the offers work.

Modshack

Assuming the repair is perfect you are talking about "Inherent" diminished value. A simple Bumper replacment or door dent will likely result in little reimbursement. The more serious the hit the more the car devalues and the more you could expect.

I have a friend going through this now and the Ins. Co. is playing with him.
Read this thread for more info: .. http://forums.quattroworld.com/tt/msgs/102567.phtml

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shadoquad

+1

esfourteen

As modshack pointed out, I just went through this a few days ago, and as expected some insurance companies are more willing to pay out than others. Wait until the car is finished before negotiating, my original estimate for repairs was about 2,000 below the final total, so that will play a part in if/how much you get. Even at $4500 in damage they should be reimbursing you something. You might have to take them to court to get them to pay out, good luck!

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Zsteve

Also I think it depends on how much of the car has to be repainted. Even if it doesnt show up in carfax they can check the paint depth and all and see that it was repainted for some reason and will ask about it. I was told 10% of the original value by an Audi dealer. Then haggle from there.

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spearfish25

I went through some diminished value in trading my 2008 Audi A4 for my current Z. The A4 was hit and took some minor damage to a rear quarter panel and rim. The repairs came to $1,800 and things were perfect afterwards. On my trade-in, they wanted to give me $1,000 less due to the accident history, despite the damage being fully repaired by a top-tier bodyshop.

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esfourteen

and thats exactly what the diminished value claim is for, you recoup that money before you sell it.

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