Good Sam Club Open Roads Forum: Class A Motorhomes: Diminshed Value Claims
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 > Diminshed Value Claims

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Executive

California/Arizona/South Dakota

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Posted: 09/11/19 10:27pm Link  |  Print  |  Notify Moderator

To the OP: Here's what I see from your post. Please correct me if I'm wrong.

A truck backed into your motor home and caused damage. You turned the claim over to their insurance company and your motor home was fixed. Now you would like some extra cash from their insurance company because you feel your motor home is worth less than it was before the crash. Is that correct? ...Dennis


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ItsyRV

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Posted: 09/11/19 10:49pm Link  |  Print  |  Notify Moderator

Was the original claim handled by your insurance company or did you go through the other driver's insurance company?


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valhalla360

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Posted: 09/12/19 06:03am Link  |  Print  |  Notify Moderator

Lwiddis wrote:

“The problem with lawyers is that they usually end up costing you more than whatever you end up getting.“

So you are suggesting, way2roll, that OP, who has received nothing, shouldn’t get a lawyer to get something?


If you want to waste money, go for it.

But if it's going to cost you $5k to get a check for $4k...most intelligent people will just move on unless they are out to prove a point.


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TonyandLesley

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Posted: 09/12/19 06:04am Link  |  Print  |  Notify Moderator

PastorCharlie. That is exactly what we understand also. "Any" vehicle that has suffered damage will suffer for diminished value, private sale or trade. So of course our concern is this in itself. This so called "diminished value" industry (when we do have to deal with it) is a very grey area. Trying to show "post value" after incident-repairs seems to be a very big hurdle.

rgatijnet1

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Posted: 09/12/19 06:19am Link  |  Print  |  Notify Moderator

TonyandLesley wrote:

PastorCharlie. That is exactly what we understand also. "Any" vehicle that has suffered damage will suffer for diminished value, private sale or trade. So of course our concern is this in itself. This so called "diminished value" industry (when we do have to deal with it) is a very grey area. Trying to show "post value" after incident-repairs seems to be a very big hurdle.


That is exactly right and why people check with CarFax and the other available websites to check to see if a vehicle has a record of any accidents. Determining the dollar amount that it decreases the value is ambiguous to say the least. On our vehicle it was a unibody type of construction so I did not feel that it could ever be repaired to the structural integrity that it had prior to the accident. On your RV, if all of the damage was cosmetic, rather than structural, then I am pretty sure that it could be repaired to be as good as, or better than, new. As I mentioned before, just tell the insurance company that you want it repaired and that you want an additional $X,XXX dollars for incidentals and see what their response is. If the amount that you are asking for is not ridiculous, they will probably just pay it and move on. If you keep using the "diminished value" argument, they will use their lawyers to push back against you. They do not want to set a precedent. Unless you are looking for some kind of a windfall from this incident, just ask for a reasonable amount and move on.

ST LUCIE APPRAISAL

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Posted: 09/12/19 10:21am Link  |  Print  |  Notify Moderator

Not sure what kind of proof of diminished value you presented to the adverse insurance company but they do, indeed, owe you for diminished value. I am assuming that there was no structural damage. If that's the case, your RV has lost 10%-15% of its pre-accident trade-in value. Don't take my word for it, ask any RV dealer. I'm not telling you that it is an easy process to collect the full amount. You need a good appraisal, preferably one with multiple dealer opinions, and persistence. If you aren't pro-active your claim will go nowhere.

Horsedoc

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Posted: 09/12/19 10:55am Link  |  Print  |  Notify Moderator

Diminished Value is a legitimate claim on trucks and automobile. THe amount may be in question when dealing with the insurance company but in the eyes of the potential buyer when the vehicle is sold, it is worth less. Mention this to a dealer you might want to sell your vehicle to. "You know this car was wrecked, but it was completely repaired". The offer he made will likely go down.
You guys are insinuating there is something wrong with asking for deminished value. There is not. The amount in question is another matter. The insurance company of the at-fault party will say it is much lower. Let this same vehicle get totaled and you will get the line, 'well, you know it has been wrecked and that lowers the value'.

TonyandLesley

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Posted: 09/12/19 11:15am Link  |  Print  |  Notify Moderator

ST Lucie Appraisal. Yes, you are correct, opinions seem to be what you must gather. However, in the eyes of the insurance company you are dealing with for the claim, we at least have been told, "statistical" data presented is not sufficient....basically all opinions you gather and present are not enough to satisfy your claim. So if not acceptable, what is??

dodge guy

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Posted: 09/12/19 11:17am Link  |  Print  |  Notify Moderator

Diminished value is a joke. So if I had an accident that damaged a front axle on a vehicle or a fender. And it was replaced with new? How is the vehicle worth any less? The vehicle is repaired to how it was before the accident. So how is it now worth less? The only way it would be worth less is if the repair wasn’t done properly and corners were cut.


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ItsyRV

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Posted: 09/12/19 01:54pm Link  |  Print  |  Notify Moderator

dodge guy wrote:

Diminished value is a joke. So if I had an accident that damaged a front axle on a vehicle or a fender. And it was replaced with new? How is the vehicle worth any less? The vehicle is repaired to how it was before the accident. So how is it now worth less? The only way it would be worth less is if the repair wasn’t done properly and corners were cut.

I don't think you understand the meaning of diminished value.

Try this, you go looking for a vehicle. You find two of the exact same year, make, model, color, miles, etc., etc. They both drive and were maintained in same shape. Now, you pull a vehicle history report and notice that one has an adverse notation of "Accident - Front End - Major" showing. Are you saying you would not value the one without the accident higher and the one with the accident lower?

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