Need help beating insurance company

[FSTBLK]

Last november my 2012 GT/CS was hit by a lady that totally lost her brakes ... $17k worth of damage (nothing structural). Car was fixed and I couldn't be happier with the quality of repair. I'm very anal about my cars and I cant find any flaws at all. I've put 8k miles since the accident and the car drives absolutely perfect.

Now that you know the background, I'm fighting with her insurance company (Allstate) trying to get some compensation for the reduction in value. They arent against paying me, they just dont know how much and have put the burden of proof on me to give them specific numbers that show a loss of value. You, me, and the insurance claims adjustor self-admittedly knows there is a loss in value, but they cant make a payment until they have specific proof and numbers.

The best way I could come up with (since the car is too new to be on kbb and there isnt a clause on there for accidents anyways) is something similar to kbb or nada that dealers use to place a value on cars for trade in. The dealer here won't work with me because they dont want to get involved in legal issues, but they did say it would be around $8k-$10k loss. Is there a guide that dealers use that gives a firm value on cars? Where are they getting the "its lost 10 grand in value"?

Thanks for the help fellas (and ladies...the few of you that are on here)

 

[19COBRA93]

You would have to have the car appraised. Then you would have to have an identical car appraised that hasn't been wrecked. The appraiser would account for the wreck history and adjust value accordingly. With those two things in hand, you should have a value variance giving you a number to negotiate with the insurance company.

I don't see any other way of doing it.

 

[FSTBLK]

There isnt an identical car in the world unfortunately... this thing isn't stock.

 

[EGNARO]

most insurance companies dont give a shit about your mods. they only care about what the stock car is worth

 

[FSTBLK]

and in this case, mods arent necessary to include. But, if we dont include mods, I cant have MY car appraised. I'd have to have a stock 12 GT/CS with like miles appriased as the baseline instead, and then have one thats had that much damage appraised.

 

[gil_t2]

Just contact a professional appraiser, he will know what to do. BTW very few mods, or aftermarket add-on's will increase the value of the car, may even decrease the valve.

 

[FSTBLK]

Where do professional appraisers get their numbers? Do they make them up or do they have some sort of guideline? Because of course the insurance company will say "well that number is just someones opinion, not necessarily the real value of the car"

 

[stang8psi]

sounds like you are trying to scheem them! If they paid for it be done go on your way!!! or ask them about there appraiser and go from there! never heared of loss of value pay out!

 

[JCCNY]

I work for a different auto ins co. (not in auto damage or liability) and have never heard of being compensated for reduction in value. Has anybody else ever received a check for this?

Good look man, sounds like you deserve $ since you weren't at fault.

 

[gil_t2]

Where do professional appraisers get their numbers? Do they make them up or do they have some sort of guideline? Because of course the insurance company will say "well that number is just someones opinion, not necessarily the real value of the car"

Who gives a shit, Look in the yellow pages pick 2, have them do there job. Give the results to the insurance company. Your are paying for the appraisal, they work for you. they don't care why you want it appraised.

 

[keith88lx]

Where do professional appraisers get their numbers? Do they make them up or do they have some sort of guideline? Because of course the insurance company will say "well that number is just someones opinion, not necessarily the real value of the car"

That's what an appraisal is, an opinion of value. I agree with 19Cobra93. Get your car appraised. The appraiser will know what to do next. They will make certain adjustments in the comparable with your car.

 

[Fullboogie]

I work for a different auto ins co. (not in auto damage or liability) and have never heard of being compensated for reduction in value. Has anybody else ever received a check for this?

Good look man, sounds like you deserve $ since you weren't at fault.

It's called diminution of value, and whether it is compensable varies state to state. Some allow it as part of actual damages.

 

[Bill220]

I'm an insurance broker but the states I do business in don't require payment for diminished value.

Try here maybe? https://tradein.autotrader.com/ATPages/TradeInMarketPlace.aspx?LNX=TIMATCHPBTN

Or here? http://www.carmax.com/enus/we-buy-cars/default.html

I'm sure it'll be a low ball number, which will be good for you.

 

[tjm73]

Just contact a professional appraiser, he will know what to do. BTW very few mods, or aftermarket add-on's will increase the value of the car, may even decrease the valve.

^^^ This...unless it's a Roush, Saleen, Steeda, Shelby, etc....

Shouldn't be hard for a professional car appraiser. You get an appraiser to write up the same car with no damage history and your car with damage history, less mods, and the difference is your loss in value.

 

[CPRsm]

See if you can get the difference of trade in value on the car compared to what yours is now and see if you can get a 3rd party estimate of your loss.

 

[FSTBLK]

i tried doing the trade in value thing and as soon as I asked about what the value of my car would have been before the accident it threw up a big red flag for them and they wanted no part of it -- too many legal implications they didnt want to deal with.

I'll try the appraiser method.

 

[W3bb3r04]

KBB can give you a value on a 2012 just looked it up. Just use that to compare to the Value an appraiser would give

 

[Lupo222]

youre better off claiming you hurt your neck or something IMO. In Florida, its $10,000 minimum for an injury in an accident, regardless of fault.

 

[FSTBLK]

^^ i have more of a moral compass than that. I'm trying to get more than what I deserve, just trying to actually make it like it never happened. I lost value on the car, so I want some compensation for that loss...nothing more. I wasnt even sore the day after she hit me and she hit me at about 40 mph on the right rear quarter panel. These seats hug you pretty good apparently

 

[Lupo222]

See, dealing with insurance companies is one time when I check my "moral compass" at the door. They have been flat out raping people for years and years. Especially in Florida, insuring just our cars and not offering home owners insurance because of the hurricane risk. F*ck them. I have no compassion for insurance companies.