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 > Diminshed Value Claims

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Walaby

Georgia

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Posted: 09/15/19 10:23am Link  |  Print  |  Notify Moderator

Good points about RV's not being documented like automobiles. Will certainly make it harder to go through a diminished value claim process. Add to that, we don't know how old the RV is that OP has. Agreed at some point, based on age, accident history doesn't have an impact.

We also don't know how much damage was made by the truck backing into the OP's RV. One might assume it is primarily cosmetic, given the slow speed. My one and only DV payment that I received was less than $500 on a two year old vehicle.

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ST LUCIE APPRAISAL

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Posted: 09/15/19 12:04pm Link  |  Print  |  Notify Moderator

There is an inherent danger in non-disclosure of accident repairs when selling even though the accident doesn't appear on Carfax. Putting the moral issues aside, a subsequent collision to the same area that was repaired could cause a structural failure resulting in injuries, possible lawsuits, etc. If an insurance adjuster should deny or low-ball your claim because it isn't on Carfax, ask them if they are saying that you should withhold the repair info from any prospective buyer. Not one of them will answer yes. Therefore, the "not on Carfax" claim denial approach is easily challenged.

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

ST LUCIE APPRAISAL wrote:

There is an inherent danger in non-disclosure of accident repairs when selling even though the accident doesn't appear on Carfax. Putting the moral issues aside, a subsequent collision to the same area that was repaired could cause a structural failure resulting in injuries, possible lawsuits, etc. If an insurance adjuster should deny or low-ball your claim because it isn't on Carfax, ask them if they are saying that you should withhold the repair info from any prospective buyer. Not one of them will answer yes. Therefore, the "not on Carfax" claim denial approach is easily challenged.



ROFLMDO.

There is an inherent danger in walking across a street, cutting your grass, or even dropping a deuce.

I've yet to hear a dealer / salesperson tell me, oh by the way, that car was in a collision and repaired, when I was grazing around the pre owned lots. Same goes for at the auctions.

JALLEN4

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Posted: 09/16/19 05:34am Link  |  Print  |  Notify Moderator

ST LUCIE APPRAISAL wrote:

There is an inherent danger in non-disclosure of accident repairs when selling even though the accident doesn't appear on Carfax. Putting the moral issues aside, a subsequent collision to the same area that was repaired could cause a structural failure resulting in injuries, possible lawsuits, etc. If an insurance adjuster should deny or low-ball your claim because it isn't on Carfax, ask them if they are saying that you should withhold the repair info from any prospective buyer. Not one of them will answer yes. Therefore, the "not on Carfax" claim denial approach is easily challenged.


I have through my businesses sold tens of thousands of cars with that never being a "thing". You are just making up scenarios trying to justify your business.

GHOST1750

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Posted: 09/16/19 06:42pm Link  |  Print  |  Notify Moderator

If it was repaired satisfactorily be thankful and forget it. Most pre owned vehicles have been damaged at some time. When I traded my last RV in I didn't even think to tell anyone that a basement door were damaged the first week I owned it and a couple times after that.


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wallynm

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Posted: 09/17/19 02:55pm Link  |  Print  |  Notify Moderator

TonyandLesley wrote:

Ok folks, our first time here, so will try our best.

We recently suffered some damage to our coach, from an 18 wheeler reversing into us, whilst stopped to fuel up!!!
So, we had repairs completed, and are now fighting to claim for Diminished Value!! The whole thing about this is very frustrating, so we are now at a point of asking if anyway on this forum can offer any advise to help us out. We have tried the independent appraisal, and submitted that to the "at fault company's, insurance company" and still they are not accepting our claim.....help!!


Question 1. has this motor home ever been wrecked before? If so the insurance company will not pay more than the diminished value on a claim.

Question 2. Was the "at fault" company involved before the repairs were authorized?

Question 3. Where any other repairs made at the same time?


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TonyandLesley

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Posted: 09/18/19 07:22am Link  |  Print  |  Notify Moderator

Well folks. The one thing we now know is, that this whole DV stuff is based a great deal around opinions, and to some degree state laws. What we do know is that, if your motor home does have an accident report attached to it, it can certainly alter your re-sale value, regardless if you sell private or trade-in.

Thanks for all the comments.

dougrainer

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Posted: 09/18/19 09:47am Link  |  Print  |  Notify Moderator

JALLEN4 wrote:

ST LUCIE APPRAISAL wrote:

There is an inherent danger in non-disclosure of accident repairs when selling even though the accident doesn't appear on Carfax. Putting the moral issues aside, a subsequent collision to the same area that was repaired could cause a structural failure resulting in injuries, possible lawsuits, etc. If an insurance adjuster should deny or low-ball your claim because it isn't on Carfax, ask them if they are saying that you should withhold the repair info from any prospective buyer. Not one of them will answer yes. Therefore, the "not on Carfax" claim denial approach is easily challenged.


I have through my businesses sold tens of thousands of cars with that never being a "thing". You are just making up scenarios trying to justify your business.


A few years ago in Dallas, we had a Jury rule against a Body Shop/DEALER and The Insurance company, for millions of dollars in damages because the Dealer Body Shop did NOT follow (either Honda or Toyota) Body manual when repairing a damaged roof top on a Car. They repaired(cheaper), but the manual stated to replace. After the Car was fixed and then sold to another person, That person rolled the Car and nearly died when the roof collapsed. Experts determined the roof would not have collapsed as it did if the original repair was done to OEM spec. Doug

https://dfw.cbslocal.com/2017/10/04/couple-awarded-crash/

4x4van

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Posted: 09/18/19 03:56pm Link  |  Print  |  Notify Moderator

The whole idea of "diminished value" payout is, IMO, nothing more than trying to get more money than is legitimately owed. Accidents shouldn't result in a windfall, only in being made "whole".

Yes, I know, many of you are arguing that the vehicle, even if fixed, is now worth less, so they are no longer "whole". To that I would simply say: who decides how much less than "whole"? It is so subjective as to be almost a ****-shoot shot in the dark, nothing more. Perhaps for a nearly new vehicle, DV could come into play, but as the vehicle gets older, there are much more important issues that determine value. So should the person who receives a DV payout be required to return a portion of that payout each year until the age/condition of the vehicle become the deciding factor and the "loss" is no longer significant/relevant?

Maybe I'm from a different generation/mindset, but DV just smells like a scam for more money. YMMV.


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1968mooney

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Posted: 09/19/19 05:02am Link  |  Print  |  Notify Moderator

4x4van wrote:

The whole idea of "diminished value" payout is, IMO, nothing more than trying to get more money than is legitimately owed. Accidents shouldn't result in a windfall, only in being made "whole".

Yes, I know, many of you are arguing that the vehicle, even if fixed, is now worth less, so they are no longer "whole". To that I would simply say: who decides how much less than "whole"? It is so subjective as to be almost a ****-shoot shot in the dark, nothing more. Perhaps for a nearly new vehicle, DV could come into play, but as the vehicle gets older, there are much more important issues that determine value. So should the person who receives a DV payout be required to return a portion of that payout each year until the age/condition of the vehicle become the deciding factor and the "loss" is no longer significant/relevant?


Maybe I'm from a different generation/mindset, but DV just smells like a scam for more money. YMMV.


If you are offered DV due to a loss, you can TURN THE MONEY DOWN and maybe it will make you feel better. [emoticon]

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