"Loss of value" insurance claim

I met with the insurance adjuster for the CR-V this morning, and it looks like they’re going to try and fix the car. :(

I’m not real happy about this. We purchased the vehicle brand new (3 miles on it when we drove it off the lot) two years ago, and now when we get it back it will be worth substantially less than a comparable low mileage CR-V that hasn’t been wrecked. I want to file a “loss of value” claim against the insurance of the guy who hit me, so that I can be compensated for the reduced value of my damaged car.

Has anyone here done this before? If so, how did you go about it, and what was the outcome?

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Originally Posted by altiain

I met with the insurance adjuster for the CR-V this morning, and it looks like they’re going to try and fix the car. :(

I’m not real happy about this. We purchased the vehicle brand new (3 miles on it when we drove it off the lot) two years ago, and now when we get it back it will be worth substantially less than a comparable low mileage CR-V that hasn’t been wrecked. I want to file a “loss of value” claim against the insurance of the guy who hit me, so that I can be compensated for the reduced value of my damaged car.

Has anyone here done this before? If so, how did you go about it, and what was the outcome?

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In my case, I documented actual private party sales of my vehicle, got 2 appraisals, and submitted to the other party's insurance... A brief 18 months later... I got a check. Good luck. Be persistent.

TC, when you say you got appraisals, what exactly do you mean? Are you saying you went to dealerships and got trade-in appraisals on the car that was hit?

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Originally Posted by altiain

TC, when you say you got appraisals, what exactly do you mean? Are you saying you went to dealerships and got trade-in appraisals on the car that was hit?

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Yep. But that was based on 2 years ago protocol... Talk to your adjuster. Ask them what documentation they would like to see in order to handle this amicably.

How bad was the damage is it close to being totaled??

I'm still waiting on everything from last summer to go through. Mine was called a "diminished value" claim. Taxi company is still fighting everything ::Rant::

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Originally Posted by POS Racing

How bad was the damage is it close to being totaled??

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Less damage than I would have expected after being rear-ended at almost 40mph, but it's still pretty severe. The back end is toast, the hatch is jammed shut, etc. It was driveable, but most of the unibody aft of the rear differential is mangled up.

I'd find a good body shop or thee to re-estimate it and get your original quote disputed if I could.

Find out which shops are known for being rather pricey and use them to get your estimate knocked up to the totalled value.