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Diminished Value Claim?
I was in a car accident on Monday that was not my fault. The other driver’s insurance (Geico) is claiming 100% fault and paying for all repairs and my rental car. I drive a 2009 Toyota Corolla that has never been in an accident before. They are replacing the front bumper, side panel, along with other various things that are totaling just under $2,000. I live in Oregon. My question is, would it be worth my while to file a diminished value claim to Geico? (I have no interest in using a lawyer so would have to do it myself)
You can always try. But the diminished value would be minimal. They are making the car whole by paying for the repairs.
You’ll have to hire and pay for a disinterested third party to evaluate the car’s diminished value. Diminished value is easier to collect on more serious damages than can’t repaired back to factory tolerances (like a slightly bent frame).
You don’t need a lawyer for a DV claim. Just call the adjuster who’s handling your claim and ask them how to file for one. They will explain the process. You have to do it after the repairs are completed.
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You can always try. But the diminished value would be minimal. They are making the car whole by paying for the repairs.
You’ll have to hire and pay for a disinterested third party to evaluate the car’s diminished value. Diminished value is easier to collect on more serious damages than can’t repaired back to factory tolerances (like a slightly bent frame).
References :
If you brought your car to a reputable shop (and you have the option to take it to any shop you wish) there will be no diminished value because they are repairing your car to pre-accident condition. If you aren’t happy with the quality of the work being done, that is an issue for you to address with the shop directly.
As an auto adjuster, I deny these regularly. Don’t waste your time.
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