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  1. #1
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    Auto Accident - Diminished Value & Other Questions

    Hey everyone, not the most exciting first post, but need some input for the CF crowd. Wife was hit in our SUV and now I'm working at getting all this crap wrapped up. Other party was at fault but I'm working directly with my insurance on repairs and they'll get reimbursed. A few questions:

    1) I need a rental and don't have it on my policy. The other company has offered to pay and set me up with a rental, but won't issue me an SUV while my car is being worked on. Do they owe me a comparable vehicle? Or do I have to take what's offered?

    2) The other insurance offered to send us the reimbursement for our deductible. They asked for ss# before they will pay it to us. Reason they gave was they have to check for any outstanding liens before they can issue money. Is this correct? Not interested in being f'd around by them.

    3) Vehicle is being fixed, but side curtain airbags deployed and it was a significant amount of damage. How do I go about filing a diminished value claim? Anyone ever done this before?

    Thanks in advance! Hope the Cyclones can pull off a win Friday. GO STATE!



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    Re: Auto Accident - Diminished Value & Other Questions

    Others will disagree, but if there were no injuries I would deal directly with the other owner or their insurance company. Leave your insurance company out of it. Come up with a figure you can live with including rental car, reapirs ect and tell them thats your number. If you are 0% at fault I have had success with this in the past. Your insurance company just wants it setteled, they aren't nearly as invested in getting a good result for you as you are.

    Utlimatley if you don't get satisfaction you will being suing the indivual, not their insurance company.

    Good Luck



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    Re: Auto Accident - Diminished Value & Other Questions

    They owe you a rental that is comparable to the vehicle that was hit.

    There is no way you should be paying any sort of deductible that the other company would reimburse. Your insurance should be handling this all for you and they should be working with the other company to make sure you are taken care of, including the deductible.

    If the side airbags caused damage when they deployed that should all be fixed as part of the repairs.


    They say country music speaks to the heart. Unfortunately, it has to go through your ears to get there.

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    Re: Auto Accident - Diminished Value & Other Questions

    Quote Originally Posted by Shockin View Post
    Others will disagree, but if there were no injuries I would deal directly with the other owner or their insurance company. Leave your insurance company out of it. Come up with a figure you can live with including rental car, reapirs ect and tell them thats your number. If you are 0% at fault I have had success with this in the past. Your insurance company just wants it setteled, they aren't nearly as invested in getting a good result for you as you are.

    Utlimatley if you don't get satisfaction you will being suing the indivual, not their insurance company.

    Good Luck
    Never deal with the other guys insurance, what are you paying insurance for?....To work for YOU. USE YOUR INSURANCE AGENT TO LEAN ON EVERYONE INVOLVED, THAT'S WHAT YOU PAY HIM FOR.


    U of OWA ... HOME OF THE FERENTZ "LOW RENT" GRADUATES OF THE SCHOOL OF MORAL TURPITUDE ....THE LEADING UNIVERSITY of SELECTIVE ETHICS......PROUD TO BE ETHICS-FREE, INTEGRITY-FREE .
    NO INTEGRITY, NO "I" IN OWA
    CAN YOU TELL I LOVE THE U OF OWA

  5. #5
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    Re: Auto Accident - Diminished Value & Other Questions

    Quote Originally Posted by majorcyfan View Post
    Never deal with the other guys insurance, what are you paying insurance for?....To work for YOU. USE YOUR INSURANCE AGENT TO LEAN ON EVERYONE INVOLVED, THAT'S WHAT YOU PAY HIM FOR.
    Yes, the other insurance company is working for themselves and will try and nickel and dime you for everything they can. Your insurance company is supposed to work for you.
    When my truck got rear ended the insurance adjuster for the other guy tried to write me a check for $2,700. My estimate was for about $4,500. I knew if I accepted that I never would have seen him again. I told him in no uncertain terms that check was unnacceptable and I was going to let him deal with my insurance company directly.
    In the end I think it cost almost $6,500.


    They say country music speaks to the heart. Unfortunately, it has to go through your ears to get there.

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    Re: Auto Accident - Diminished Value & Other Questions

    I'd start by leaving your insurance company out of it. They don't care how this gets settled - they just want to get it over with (someone else mentioned it earlier). I had this happen with my son and the other insurance company was very good about it and I had no problems whatsoever. They gave us a list of repair shops and we picked the one we liked best. Never had to pay a dime (as it should be) and car came back better than it was in the first place.

    If the other party's insurance company starts to become a problem that is when you get your company involved. At least it sounds as if you don't have the same insurance company as the other guy. IMO that is the worst case scenario.



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    Re: Auto Accident - Diminished Value & Other Questions

    Quote Originally Posted by CivicCy View Post
    Hey everyone, not the most exciting first post, but need some input for the CF crowd. Wife was hit in our SUV and now I'm working at getting all this crap wrapped up. Other party was at fault but I'm working directly with my insurance on repairs and they'll get reimbursed. A few questions:

    1) I need a rental and don't have it on my policy. The other company has offered to pay and set me up with a rental, but won't issue me an SUV while my car is being worked on. Do they owe me a comparable vehicle? Or do I have to take what's offered?

    2) The other insurance offered to send us the reimbursement for our deductible. They asked for ss# before they will pay it to us. Reason they gave was they have to check for any outstanding liens before they can issue money. Is this correct? Not interested in being f'd around by them.

    3) Vehicle is being fixed, but side curtain airbags deployed and it was a significant amount of damage. How do I go about filing a diminished value claim? Anyone ever done this before?

    Thanks in advance! Hope the Cyclones can pull off a win Friday. GO STATE!
    The job of the insurance company is to get you as close as possible back to the original position you were in before the accident.

    Most companies do use standard size rentals, but if you have an SUV and you can explain to them why you need that (kids, work, etc), then they should upgrade that for you.

    Insurance companies definitely have to satisfy any lienholder that is involved. So if your carrier is handling your vehicle repairs, then I'm sure they are making sure everything goes smoothly with the lienholder, who is also owner of your vehicle (if you have one) and has an interest in what is going on. With that said, you pay your deductible completely out of pocket without any involvement from a lienholder, so the other company should directly reimburse you and I'm not sure if they necessarily need your SS# to check for any other outstanding liens. Most of the time they just ask for your policy declarations page to document how much your Collision coverage deductible is.

    Like someone already mentioned, the airbags and any damage related to the accident should be fully repaired. However, if you are concerned about diminishment in value of your vehicle, you should be able to file a claim regarding that with the other carrier. Typically that is not something your company can handle, it has to go through the other company.

    Hope that helps. My advice is that if you don't understand anything or have questions, just make sure you ask the other insurance company's adjuster further questions for clarification. They want to get the claim resolved as quickly as possible, so if they need specific information from you (SS #), they should be able to clearly and thoroughly answer and help you understand everything. If that does not help, you do have your own adjuster with your company which you can fall back on and ask any further questions.



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    Re: Auto Accident - Diminished Value & Other Questions

    Quote Originally Posted by abcguyks View Post
    I'd start by leaving your insurance company out of it. They don't care how this gets settled - they just want to get it over with (someone else mentioned it earlier). I had this happen with my son and the other insurance company was very good about it and I had no problems whatsoever. They gave us a list of repair shops and we picked the one we liked best. Never had to pay a dime (as it should be) and car came back better than it was in the first place.

    If the other party's insurance company starts to become a problem that is when you get your company involved. At least it sounds as if you don't have the same insurance company as the other guy. IMO that is the worst case scenario.

    STUPID ADVICE IN BOLD ABOVE, ANYONE WITH A HEAD WOULD WALK AWAY FROM ANY AGENT OR INSURANCE COMPANY THAT ACTS LIKE THIS

    What do you pay insurance for and have an agent for? Dumb as a rock advice. Unless you have a BAD insurance agent, AND you should dumped him already. Always use your agent to work for you, that's their job. Working with the other guy's insurance company just opens the door for them to screw you over.

    JUST ASK YOURSELF THIS QUESTION: WHY DO I HAVE AN INSURANCE AGENT FOR? WHY DO I PAY MY PREMIUMS TO HIS OFFICE? YOU'RE JUST LOOKING TO GET SCREWED NOT USING YOUR AGENT AND YOUR INSURANCE COMPAY TO FIGHT FOR YOU. IT'S THEIR JOB, NOT TO JUST BLOW YOU OFF.


    U of OWA ... HOME OF THE FERENTZ "LOW RENT" GRADUATES OF THE SCHOOL OF MORAL TURPITUDE ....THE LEADING UNIVERSITY of SELECTIVE ETHICS......PROUD TO BE ETHICS-FREE, INTEGRITY-FREE .
    NO INTEGRITY, NO "I" IN OWA
    CAN YOU TELL I LOVE THE U OF OWA

  9. #9
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    Re: Auto Accident - Diminished Value & Other Questions

    Quote Originally Posted by CivicCy View Post
    Hey everyone, not the most exciting first post, but need some input for the CF crowd. Wife was hit in our SUV and now I'm working at getting all this crap wrapped up. Other party was at fault but I'm working directly with my insurance on repairs and they'll get reimbursed. A few questions:

    1) I need a rental and don't have it on my policy. The other company has offered to pay and set me up with a rental, but won't issue me an SUV while my car is being worked on. Do they owe me a comparable vehicle? Or do I have to take what's offered?

    2) The other insurance offered to send us the reimbursement for our deductible. They asked for ss# before they will pay it to us. Reason they gave was they have to check for any outstanding liens before they can issue money. Is this correct? Not interested in being f'd around by them.

    3) Vehicle is being fixed, but side curtain airbags deployed and it was a significant amount of damage. How do I go about filing a diminished value claim? Anyone ever done this before?

    Thanks in advance! Hope the Cyclones can pull off a win Friday. GO STATE!

    I am an insurance adjuster and here are my thoughts on your questions...

    1. They do owe for a comparable vehicle. I have had claimants rent a vehicle that is comparable out of their own pocket in the past and we typically reimburse them for the cost after providing a copy of the rental receipt. I wouldn't do that myself because depending on the other guy's insurance, they may try to nickel and dime you. If you insist on a comparable rental to the other insurance company, they should eventually give in as you are owed for a comparative vehicle. One piece of advice, when you rent the vehicle, DO NOT get Enterprise's temporary damage coverage...total bs. As long as you have a policy of insurance, that policy of insurance follows you regardless of the vehicle you are in...

    2. Regarding the SSN, I know that the insurance company's do check for liens on a vehicle, but that typically is when a vehicle is considered a total loss. Furthermore, if your vehicle's repairs are being handled by your company, your company will send a subrogation demand to the other company inclusive of your deductible. You may have to pay your deductible up front, but that will be reimbursed to you after repairs are completed. Your insurance company will then send you your deductibe reimbursement. I would strongly consider going completely through your company as they will take care of the deductible reimbursement for you.

    3. Diminished value claims can only be presented to the other insurance company, not yours. Typically diminished value is only considered when the damage to your vehicle exceeds 50% of the current value as quoted by NADA.com (usually). Diminished value claims are somewhat tough to negotiate as everyone varies on what they feel is a fair value for the diminished value.

    When you go to trade your vehicle in, the dealer may nick the trade in value, but they still sell that same vehicle for a normal price. Diminished value claims typically resolve between $500 and $1000.00 depending on the year, make and model.

    Basically, I would say to have your insurance company handle the repairs for you. Others posted that they will just try and repair it as cheap as possible. I strongly disagree. Your insurance company is facilitating repairs, but not paying for them in the end, so they won't nickel and dime you because they are going to get reimbursed in full by the other insurance.

    Hope this helps!!



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    Re: Auto Accident - Diminished Value & Other Questions

    Quote Originally Posted by majorcyfan View Post
    STUPID ADVICE IN BOLD ABOVE, ANYONE WITH A HEAD WOULD WALK AWAY FROM ANY AGENT OR INSURANCE COMPANY THAT ACTS LIKE THIS

    What do you pay insurance for and have an agent for? Dumb as a rock advice. Unless you have a BAD insurance agent, AND you should dumped him already. Always use your agent to work for you, that's their job. Working with the other guy's insurance company just opens the door for them to screw you over.

    JUST ASK YOURSELF THIS QUESTION: WHY DO I HAVE AN INSURANCE AGENT FOR? WHY DO I PAY MY PREMIUMS TO HIS OFFICE? YOU'RE JUST LOOKING TO GET SCREWED NOT USING YOUR AGENT AND YOUR INSURANCE COMPAY TO FIGHT FOR YOU. IT'S THEIR JOB, NOT TO JUST BLOW YOU OFF.
    Your shift key is stuck.



  11. #11
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    Re: Auto Accident - Diminished Value & Other Questions

    Quote Originally Posted by 3TrueFans View Post
    Your shift key is stuck.
    I think he works for Geico... And dosent like Insurance Agents....



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    Re: Auto Accident - Diminished Value & Other Questions

    Quote Originally Posted by 3TrueFans View Post
    Your shift key is stuck.
    Quote Originally Posted by cyhawkdmb View Post
    I think he works for Geico... And dosent like Insurance Agents....
    He has a darn good point though. If you don't trust your own insurance agent to make sure you are being treated fairly, then get a new insurance agent. I say the same thing. Those saying to work with the other company and just to work with that adjuster/agent/claims dude are forgetting one thing. That adjuster/agent/claims dude is representing the guy who hit you ahead of yourself. Your own agent represents you ahead of the guy who hit you. Don't take a brain scientist to figure out which way you should go....



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