Dimished Value Secrets

May
18

How do I get diminished value for my new vehicle that was hit by a state farm insured person? (I’m 3rd party)

Posted by admin

THANKS EVERYONE

First, what state do you live in? Only a handful of states consider dimunition of value a recoverable damage.
Second, this is VERY hard to prove. You start by selling your vehicle.

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  1. Fire's Shaddow Said,

    If they were at fault than your insurance company should settle it with state farm. If they are not taking care of it than you can talk with a state farm agent and see what the claimas process is, and while your at it maybe switch your coverage to them they are a really great ins. company and very easy to deal with in these sercumstances at least if your one of their clients
    References :
    have always had state farm and when I had a claim they took care of it REALLY FAST!!

  2. paul h Said,

    You would have to contact a lawyer or appraiser with experience in this field and get a written estimate of how much less value your vehicle will have because of the accident based on the extensiveness of the damage involved, age of the vehicle, previous condition, etc.. and submit it to State Farm for payment…they will probably want to negotiate or arbitrate the estimate so be prepared to get the most you can. Try contacting your state’s Insurance Commissioner’s office for guidelines or info on what the law states. Some sites offer this service of diminished value appraisal but I’d be wary of them.
    References :

  3. AD Said,

    You need to let the adjuster know that you want to make a diminished value claim. The adjuster will walk you through the process.
    References :

  4. bundysmom Said,

    First, what state do you live in? Only a handful of states consider dimunition of value a recoverable damage.
    Second, this is VERY hard to prove. You start by selling your vehicle.
    References :

  5. UCANTCME Said,

    YOU DON’T NEED A LAWYER UNLESS SOMEONE WAS HURT.

    THIS IS DONE BY GETTING THE ACV OF THE VEHICLE AND SUBTRACTING THE TOTAL REPAIRS THAT WILL BE DONE.

    THE ADJUSTER WILL TRY AND LOW-BALL YOU BUT HAVE ALL OF THIS INFO BEFORE YOU GO AND TALK.

    IF POSSIBLE TRY AND SPEAK WITH ADJUSTERS MANAGER IF YOU ARE GETTING THE RUN-AROUND.

    THE LAST THING THAT YOU CAN DO IF YOU ARE STILL GETTING THE RUN-AROUND IS TO CONTACT THE BOARD OF INSURANCE IN YOUR STATE AND SET UP A MEETING WITH AN UNBIASED THIRD PART WHO WILL HEAR BOTH SIDES OF THE CASE.
    References :
    923

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