Diminished value claim-Need some help

[Abyork]

I know there are lots of intelligent individuals on this forum. I have an R1S that thankfully wasn’t involved in this accident. It does however involve my 2024 Landcruiser. I was hit at a red light, while sitting still by an intoxicated driver. My car sustained about 5K worth in damage. In 16 years of driving I’ve never been in an incident or accident. I was found to be 0% at fault.

Because the vehicle is so new I am seeking a diminished value claim. Based on my research, the car lost 8-9K in value from the accident. I provided my research to the insurance company. The insurance company offered 1K… which is not even in the ballpark.

Does anyone on here have experience with this? What can I do to get the insurance company to negotiate in good faith?

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[majorfriend]

I know there are some services that will provide a diminished value estimate - it might be worth purchasing one and then sending their findings back to insurance.

If all else fails you could always reach out to attorney - though I hate suggesting that.

I was rear ended in my R1T, about $6k in damage and I got around $1600 in diminished value - I probably could have gotten more, but I didn't push for it.

Don't forget, depending on your state, you may be able to file a loss of use claim as well.

 

[Mark_AZR1T]

I know there are lots of intelligent individuals on this forum. I have an R1S that thankfully wasn’t involved in this accident. It does however involve my 2024 Landcruiser. I was hit at a red light, while sitting still by an intoxicated driver. My car sustained about 5K worth in damage. In 16 years of driving I’ve never been in an incident or accident. I was found to be 0% at fault.

Because the vehicle is so new I am seeking a diminished value claim. Based on my research, the car lost 8-9K in value from the accident. I provided my research to the insurance company. The insurance company offered 1K… which is not even in the ballpark.

Does anyone on here have experience with this? What can I do to get the insurance company to negotiate in good faith?

Check to see if your state has any diminished valuation laws on the books. Get a couple of before/after appraisals in writing and file a complaint with your State Insurance commissioner if you want to push it.

 

[iansriv]

I know there are lots of intelligent individuals on this forum. I have an R1S that thankfully wasn’t involved in this accident. It does however involve my 2024 Landcruiser. I was hit at a red light, while sitting still by an intoxicated driver. My car sustained about 5K worth in damage. In 16 years of driving I’ve never been in an incident or accident. I was found to be 0% at fault.

Because the vehicle is so new I am seeking a diminished value claim. Based on my research, the car lost 8-9K in value from the accident. I provided my research to the insurance company. The insurance company offered 1K… which is not even in the ballpark.

Does anyone on here have experience with this? What can I do to get the insurance company to negotiate in good faith?

Despite your first sentence being very wrong, I will try to give you absolutely unqualified advice. My car was side swiped by another car recently. Total damage is sitting at a wopping $3k so far. Yes, you read that right-$3k on a Rivian is unheard of but that is what it is. My insurance company is AllState and they "said" they would work on diminished value. For a $3k hit I'm not sure how much I'll get. Maybe a nice dinner.

What I would like to be compensated for is my panic attack when I heard the thundering crash and all I could think of is that my beloved Rivian is totaled. To add insult to injury, Enterprise insisted on putting me in a Porsche Cayenne. I hate the Cayenne! I am seriously considering contacting Green and Fazio. Btw-I have been known to embelish and exagerate from a young age. Cheers./

Green & Fazio

 

[Plevyct]

I know there are lots of intelligent individuals on this forum. I have an R1S that thankfully wasn’t involved in this accident. It does however involve my 2024 Landcruiser. I was hit at a red light, while sitting still by an intoxicated driver. My car sustained about 5K worth in damage. In 16 years of driving I’ve never been in an incident or accident. I was found to be 0% at fault.

Because the vehicle is so new I am seeking a diminished value claim. Based on my research, the car lost 8-9K in value from the accident. I provided my research to the insurance company. The insurance company offered 1K… which is not even in the ballpark.

Does anyone on here have experience with this? What can I do to get the insurance company to negotiate in good faith?

I was hit in the rear end and sustained minor damage, but the vehicle being a Rivian the repair was expensive. I received $25,000 DV as well as $100.00 a day in loss of use. Getting an independent DM value is a good start. Assuming it’s the other persons insurance that’s trying to low ball you.

 

[RivAW]

You are not likely to convince the insurance company of anything based on “your own research”.
Contact a lawyer that deals with insurance claims or at the very least a company that provides a professional assessment and DV estimate.

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