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View Full Version : Diminished value compensation from insurance



Denlasoul
06-29-2003, 09:48 AM
Hey all:

Not sure how many of you know about diminished value compensation (I just discovered it), but here is the lowdown.

Depending on you state's laws and insurance company, if your car is damaged and repaired you may be entitled to compensation for the loss in value of your car. Basically, they calculate the difference of the before accident value and after accident value.

I just learned in WA state that the gov't ruled that compensation is part of the "total" insurance policy, and therefore should be allowed. Depending on circumstances.

Anyway, if you wanna find info on your state, search for "diminished value auto (your state)"

Here's a link I found from a local newcast:Click me (http://www.komotv.com/news/story.asp?ID=11470)

kameraguy
06-30-2003, 07:51 AM
Thanks for the link DLS. Does anyone have experience with this in California? I would like to know how it's handled in CA as my car was in an accident righ after I bought it, and have been pissed because of "diminished value" ever since. If there's a way to get involved with this, i'd be happier.

nokia8860
06-30-2003, 08:19 AM
You have to check with the policy you carry with your insurance company.

But for chris youres does not cover this. Most insurance company will pay to replace or repair you vehicle but it will not exceed this cost. Meaning dont care about diminished value.

So read your insurance policy very carefully so that you too can be an informed customer and FIGHT BACK. *fight back jingle*

kameraguy
06-30-2003, 09:34 AM
Thank you Mr. Horwitz ;)

nokia8860
06-30-2003, 09:37 AM
Originally posted by kameraguy
Thank you Mr. Horwitz ;)

http://www.fightback.com/images/home_images/top1.jpg

Renn 208
06-30-2003, 09:41 AM
Originally posted by kameraguy
Thank you Mr. Horwitz ;)

oh man, I used to watch that show all the time!

nudymeyer6
04-11-2004, 01:10 PM
what show?...too young, thank god!:D