Lawyers Advice Needed... Damage Depreciation

[Valhalla]

As you can see from the post/pics here....
post

....my snake was damaged. Am I entitiled to any depreciation compensation since now my car might show up on carfax as "repaired"? It was a mint conditioned garage kept 98 with 19k miles. Thanks!

 

[dansauto]

nope, not unless it is stated on your policy. No insurance co will honor depricated value.

 

[joe117]

Dan,
Wouldn't he be dealing with the insurance company of the other guy? The other guy is responsible for the damage.

If he can show that the car has lost value because of a repair on the record,
and the other guy's insurance will not pay for it,
he could take the guy to court for it.

 

[plumcrazy]

id agree but it will be one heck of a fight. I doubt it will fly buy i know id try for it.

 

[slaughterj]

If someone else damaged your car, you can get the depreciation for the damage from their insurance company. You might need to produce evidence as to the extent of depreciation for such, from someone such as Bill Pemberton.

 

[Bill Pemberton Woodhouse]

John is correct in many cases, and I may have missed it but who was at fault. If you are at fault then you probably can not get any depreciation, but if the other driver is at fault, give me a call and we will see what we can do to assist. Whether we like it or not, a wrecked Viper brings alot less value, and it will virtually always be that way.

Best Regards,
Bill Pemberton
1-800-889-1893

 

[Bill B]

nope, not unless it is stated on your policy. No insurance co will honor depricated value.

Not entirely true!
Call Jim Mchugh @ 954.989.4285 He specializes in value depression, he got me a settlement after my RX-7 was hit.
The "at fault" policy can be made to pay for depreciated value.

 

[Viperfreak2]

Judge Judy agreed in a case recently to give a Range Rover owner depreciated value. Now there's a bold judgement!

 

[dansauto]

nope, not unless it is stated on your policy. No insurance co will honor depricated value.

Not entirely true!
Call Jim Mchugh @ 954.989.4285 He specializes in value depression, he got me a settlement after my RX-7 was hit.
The "at fault" policy can be made to pay for depreciated value.

I have an article from an autobody mag regarding this issue. Most courts will not find in your favor as it is not a right to drive on the street. In doing so you are risking your vehicle in case of a collision. Even if the other guys insurance pays, they are not obligated to pay you anymore than the ACV of the vehicle and direct damages from the accident. I am currently involved in a case with my vehicle where the truck was totalled and the insurace co will not give me NADA value for the truck. They are giving me an appraised value based entirly on opinion. No market research to substanciate. I have been to court over three times.

 

[joe117]

I don't know Dan. I think you need a lawyer.

 

[Bill B]

Totaled is a different story. Diminished value is entirely different subject.

 

[gthomas]

and the insurace co will not give me NADA value for the truck. They are giving me an appraised value based entirly on opinion. No market research to substanciate. I have been to court over three times.

What's the name of the Insurance company, please, it's one that I won't give my business.

 

[dansauto]

third party claim, I was hit by another driver he is at fault and its his insurace co that is fighting. Yes my case is differant, but along the same lines. Insurance companys make thier own rules, and you have to spend a fortune fighting them. Each state has a regulatory agency that is supposed to work for you, but after reviewing thier last three years of cases, very few are consumer issues, rather adminstration issues. The whole agency in PA is a farce. So its back to court for me, they cant appeal it unless they want to chance the PA Superme court.