Loss of value calculator

[DFWGenny]

I've had my first accident. It was minor and thankfully only body work.

My question is this: Now the car will have a CarFax history as to being in an accident. How do I calculate the loss of value to include that in my claim?

 

[Aquineas]

That sucks; sorry to hear that. Glad it wasn't serious.

 

[BRJACKET]

I am also sorry to hear about your accident. I've been going through this as well but in my case it was determined to be a total loss so I am back shopping for a new One. Before it was declared a total loss my insurance company told me that if the car is fixed then the appraiser will determine the diminished value. It would be good to talk to your agent to clarify this.

 

[DFWGenny]

Yeah, but this not my insurance company.

Was your guy just carrying the minimums? If I had to pay my deductible, I would see if I could sue in Small Claims, and get a judgement for the deductible. In TX, you can take the judgement and go to the DMV and have the license suspended.

 

[BRJACKET]

It is definitely frustrating to have an accident. You have to keep telling you that you walked away OK. In my case the other driver was underinsured so I had to go back through my insurance company. I had to pay the deductible but they wound up giving me very close to the full value I paid. They said that when you repair the car that my insurance companies' appraiser would assign the diminished value but I had to go to the other company for reimbursement. In my case, my insurance company (Amica) said that they would handle the claim and put it in front of their claim to make sure I got reimbursed. Fortunately, it was a total loss so I only lose the deductible. Since they gave me a good settlement this won't hurt too bad.

Talk to your agent to see how they can help you with the claim. They should be willing to work with you.