Diminished Value on Rear-Ended Vehicle
June 18, 2016 11:47 AM   Subscribe

Have any Mefi drivers successfuly gone through the process of applying for and receiving payment for a car in an accident that was not your fault?

Two weeks ago, a driver rear-ended my stopped 2009 car in stop-and-go traffic. Filed police report, notified my insurance company (Amica), brought it to their recommended body shop, and now it's all fixed. My insurer has been very efficient, and I haven't had to lay out a cent for the repair ($3100) or car rental.

So I thought that was that even though I realized my perfectly maintained car wasn't truly pristine anymore. Turns out the car buying world won't think so either if and when I want to sell it. I do live in a state where I can be compensated for "diminished value" of the car since I won't get the book value now that it's been in an accident. Various internet sites say a dealer will knock 30% off the book as will any private buyer. (I wouldn't sell it w/o giving this information; it's been reported in any case.) If any of you accident-not-your-fault owners has been through the process, how did you proceed? Was it worth the time and effort, and were you compensated in the end? My car's book value is around $8000, so even 20% is $1600, not chump change. Thanks for your input.
posted by Elsie to Travel & Transportation (1 answer total) 1 user marked this as a favorite
I made a DV claim in a different state that also has DV in the laws. The accident appeared on carfax so there was no way to avoid it diminishing the value. I went to the dealership where I bought my car and had the dealer give me a quote for how much less he would offer because of the carfax, then I made a DV claim with the at-fault person's insurer and included the quote, along with some explanation of who he was and his expertise with buying and selling this exact model of car.
(IIRC my insurer didn't want to handle it)

The at-fault insurer offered me nearly as much as the quote, and I accepted because that was easier than going after the full amount. This was about 10% book value. I think the quote was about 13%

I had read online that they'll often send their own inspector (who is obviously paid to "find" that DV is minimal), but in my case that didn't happen. The guy who did my quote was the most qualified expert in the state for my car, which might have had something to do with it, but I suspect it more that the state recognized DV and I had an obvious claim.
posted by anonymisc at 12:07 PM on June 18, 2016 [1 favorite]

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