Vehicle wrecked, loss of value question

[Firefyter]

Im not sure about that specific claim, but a couple of years ago I hit a lawyer of all things and my insurance paid to have his car fixed, he sued me for a diminished value of 5k, my lawyer promptly sent him a letter reminding him there is no diminished value claim in Texas and he promptly dropped the suit.

[rebelchild]

I am going though this now 24,000 in damage on a 2014 f350 they would not total it.Talk to the ford dealership they said before the wreck they would have gave me 45,000 after they pulled car fax 19,000 due to frame damage so I hhave to file diminished value against the other party insurance and see what happens.

[Luck_of_the_Draw]

Yes. Talk to them about a diminished value claim.

I had to take the girl to court to get my diminished value claim paid. Progressive cut me a check for 4K to settle.

[Kingslayer]

A wreak will effect the CarFax Report

[Firefyter]

The position of the Department is that an insurer is not obligated to pay a first party claimant for diminished value when an automobile is completely repaired to its pre-damage condition. The language of the insurance policy does not require payment for, or refer to, diminished value.

Taken from Texas dept of insurance commissioners bulletin.

[cysa10]

You can claim diminished value in Texas as a 3rd party (you can claim it against the other persons insurance) It is wise to get a 3rd party appraiser to give you an appraisal for diminished value and request that amount from the insurance company and show why. If you don't request it and don't give them a value, you will get low balled. They will be much more likely to give you a fair settlement with proper backup and a reasonable request. I just spent months going through this process. Ended up getting a settlement, but not near what it was worth. Next step would have been taking them to court.

[Keith]

My car repair was to be completed today. However, the body shop had to file for a supplement for additional damage that was not on the original estimate. Their appraiser didn't inspect the additional damage until Friday and the check for the additional damage was issued today. It looks like they will be paying for a another week of car rental for me.
His insurance is not going to pay for a Toyota brand bumper cover or a Toyota muffler. I told the adjuster that my car was 100% Toyota before the wreck and I wanted it repaired with Toyota parts. She said all insurance policies will use "like" aftermarket parts. Would it be worth hiring an attorney to fight this?

[Slick8]

My car repair was to be completed today. However, the body shop had to file for a supplement for additional damage that was not on the original estimate. Their appraiser didn't inspect the additional damage until Friday and the check for the additional damage was issued today. It looks like they will be paying for a another week of car rental for me.
His insurance is not going to pay for a Toyota brand bumper cover or a Toyota muffler. I told the adjuster that my car was 100% Toyota before the wreck and I wanted it repaired with Toyota parts. She said all insurance policies will use "like" aftermarket parts. Would it be worth hiring an attorney to fight this?

I don't think that this is entirely true or it may apply to a certain age car. My daughters focus was wrecked and they said that it would only have Ford parts installed. It was only two years old.

[SB09]

My car repair was to be completed today. However, the body shop had to file for a supplement for additional damage that was not on the original estimate. Their appraiser didn't inspect the additional damage until Friday and the check for the additional damage was issued today. It looks like they will be paying for a another week of car rental for me.
His insurance is not going to pay for a Toyota brand bumper cover or a Toyota muffler. I told the adjuster that my car was 100% Toyota before the wreck and I wanted it repaired with Toyota parts. She said all insurance policies will use "like" aftermarket parts. Would it be worth hiring an attorney to fight this?

Sounds like something to put into your diminished value claim. Those aftermarket parts are worth less than OEM before the wreck? The insurance company can lie to you and tell of whatever best fits the needs, or pocketbook. Just because their insured driver rear ended you doesn't mean you need to take the hit on the cost of the wreck. Be that right now, or when you sell the car. I'D get the diminished value claim going personally.

[Clintbow]

Personal property damages in Texas are classified as valuation and repair damages. If the property is totally destroyed or partially damaged, valuation damages are awarded. If the property is partially damaged and capable of being repaired, repair damages are awarded. Valuation damages are calculated by 1) market value, 2) replacement value, 3) actual value to owner, and 4) sentimental value. The last two are very difficult to prove and usually only apply to rare vehicles. Repair damages are calculated by 1) cost of repair or 2) loss or use. For each scenario above there are different types of evidence needed to prove the damages. Insurance companies will choose for you which one they want to use to help save them money. A lot of times the one they choose is not the best for you. You just have to argue with them or hire a lawyer.

[Cottonfish]

His insurance is not going to pay for a Toyota brand bumper cover or a Toyota muffler. I told the adjuster that my car was 100% Toyota before the wreck and I wanted it repaired with Toyota parts. She said all insurance policies will use "like" aftermarket parts. Would it be worth hiring an attorney to fight this?

Their restriction on payment for Like, Kind and Quality parts is the same that you have in your own 1st party coverage (see Limit of Liability under the Part D Coverage for Damage to Your Auto section). Although obviously distasteful to you, you can elect to pay the difference for the new OEM parts. It's your car and you can select the parts to be used for it's repair, although the other carrier may not fully pay for them. SB09 is correct, that would be an issue to introduce during negotiation of the DV claim. IMHO, the parts issue would not be worth hiring an attorney to pursue, most would not accept the case as there's no room for them to make their fee, unlike a more subjectively-based injury claim.

DV claims generally revolve around amount of overall damage, amount of structural damage, age/mileage and value of vehicle, any special interest aspect (classic, restoration, Corvette), etc. It is incumbent on you to prove the amount of DV, which is why several have suggested an appraiser who specializes in DV valuations. There is no guarantee that the opposing carrier will accept the valuation as definitive.

Stu

ETA - Many carriers won't consider evaluation of the DV claim until repairs are complete.

[doppelganger]

Yes. Talk to them about a diminished value claim.

^^^ this

[Keith]

I got a call from the body shop yesterday. Even though the insurance is only paying for an aftermarket bumper cover, they were able to get Toyota to match the price, so I'll be getting a Toyota bumper after all.
My car was supposed to be finished 2 days ago, now it's looking like next Wednesday. With the holidays, a 6 day repair has turned into about 16 days.