After car repair, should I be entitled to more compensation?
The accident was totally the other persons’ fault. Their insurance paid for the repair but I am told that they should also pay for “Depreciation Value”. Looking at the Kelley Blue Book car values – my vehicle is now worth less by about $800 since the car is now considered “Good” value and not “Excellent” value as it was before the accident. Should I be compensated further from the guilty parties insurance?
September 28th, 2010 at 1:43 am
I’ve had my rounds with insurance people. They pay exactly what they want to pay, and you can’t do anything except get in their face and argue with them. How good can you argue? That’s how much money you’ll get.
September 28th, 2010 at 2:24 am
If you car is restored to as good or better than before the accident, where does deprecation come from?
You hood is dented. They put on a brand new hood to replace your 6 year old one, and paint it. How is your car worth less now? If anything you are better off.
There is only one way to prove depreciated value. Sell your car for less than fair market value, and then prove you got less for it as a direct result of a repair done correctly at a body shop.
September 28th, 2010 at 2:51 am
There is not enough information to answer your question.
Diminished Value has nothing to do with the Kelly Blue Book.
Most private owner cars are not Excellent condition (even pre-loss).
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