2012 S R56 Diminished value.
#1
2012 S R56 Diminished value.
I had an accident in April 2016 where the other party was at fault (recorded). I am trying to file a diminished value claim with the help of a third party who asked me to get a trade-in value just before and after the accident. However, the dealership where I purchased the car says I can only get the current appraisal and not historical trade-in values in print.
What is the best way to go about it?
Thank you!
What is the best way to go about it?
Thank you!
#5
Now I understand what you mean. I dont think i ever heard of insurance companies pay out diminished value unless you cam prove the car is unique as above mentioned.
i think if they add that option to insurance coverage, the premium will skyrocket and it becomes more headache for them since they have to fairly assess that value.
Sorry my friend, I'm not sure they will honor your request. You may consult a lawyer and see what they think.
i think if they add that option to insurance coverage, the premium will skyrocket and it becomes more headache for them since they have to fairly assess that value.
Sorry my friend, I'm not sure they will honor your request. You may consult a lawyer and see what they think.
#6
#7
Diminished value is is only required to be part of a settlement in certain jurisdictions. If it is mandated by the Dept of Insurance where you reside, then the insurance co should have done a DV eval automatically. You may not agree with the value in which case it falls upon you to negotiate it, but it would have been done. If you are not in a mandated DV jurisdiction then it's either based on your policy (you know, that fine print contract no one reads) for first party, or the overall settlement if you are going after the responsible party's company. DV would be based on values at the time of the loss, finding substantiated values going back to 2016 is going to be tough, not likely anyone here car do.
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