I got into a car accident in Florida and I am not at fault. I am trying to do a 3rd party claim for diminish value. Just wanted to know how can I determine that I am being compensated justly. My car KBB value is $10k and i have received collision damage repair from the claim of $4.5k . Any suggestion appreciated? Any insurance adjuster insider out there? lol
Blb,

Actually in Florida if you are not at fault and you are doing a 3rd party claim, you are entitled to do a diminish value claim

There are no consistent court decisions in regards to dim value. Even the same venue’s have different rulings as to when owed, If owed, And how much owed. There is no disputing that your car would have lost value for that much damage but courts have held insurance companies to different requirements in different cases.

Based on the value you gave on your vehicle, it will have to be several years old already and this is not in your favor. A new car in a wreck will obviously lose more then your car which has already depreciated over the years.

The burden of proof in this matter is usually on you to show diminished value.
You may have to go out and get bids on your vehicle and show how much you feel you would get if it was not wrecked compared to how much you are being offered. The more the better. The insurance company will also check your vehicle history and every other accident hurts your case.

To take a look for your best odds for a successful claim review your estimate. Is there frame or mechanical labor? If so you may have a better case since many repair professionals believe that once a frame is stretched back it does not have the same integrity.

Also is there more labor then parts or the other way around? If the insurance company paid for more parts then repairs then you will have less of a case as they just took off damaged parts and put on parts of like kind and quality back on.

Many settlements made on older year vehicles tend to be around 10% or less and this is more of a nuisance settlement. The insurance company will most likely know the venue that they are dealing with and have better knowledge recent court decisions in that area. They may not pay anything or they make that nuisance offer. Most demands I see are for several thousand dollars and are settled for several hundred.

I suggest making a demand(in writing) for the difference that you think there would be if you sold the vehicle after the accident compared to if the accident did not happen. The insurance company will most likely come back with something much smaller. I would try to negotiate from there but to be honest with you, would not expect too much more. Insurance companies usually have a range they want to settle something within so they may be able to give a little more(but not much more).

I hope this helps, dim value is rather new country wide and again there is no clear consensus on this