Stolen vehicle before tradein

[sko]

Looking for advice: my bronco is somewhere sitting in a parking lot ready to be shipped. I have a 2017 elantra that I'm trading in, the problem is I just went out to use my var and some asshole stole it, I know the trade in value will be affected. How do I go about getting the most value or depreciation from my ins company if/when it's recovered? I've heard of some steps to take just wondering if any of you have experience.

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[AZ_Liberty]

Here's hoping you get lucky and it's not recovered. Since replacement value will be much more than trade.

Otherwise, insurance company owes you "diminished value", which can be a pain to get them to pay.

A 2017 Elantra is a $10k car, probably $6-7k trade in value.

 

[sko]

Actually with the current market I was getting quoted between 10‐13k from carvana, carmax, etc. Tradein was around 9-10k. This is recent, my car only has 44k miles on it, but I agree diminished value I'm gonna have to fight for.

 

[Neps]

Save those quotes, they will be helpful when the insurance company provides a settlement offer. Also any receipts for repairs or maintenance can add to your claim.

Ensure that you include any contents, as well as any improvements to the vehicle in your claim(s). You can also ask for reimbursement for any service program or extended warranty plans that were unused.

Don't forget taxes, trade-in tax benefits, and registration fees.

If the vehicle is recovered then seek diminished value. Hire someone that specializes in DV claims.

 

[mcinfantry]

Here's hoping you get lucky and it's not recovered. Since replacement value will be much more than trade.

Otherwise, insurance company owes you "diminished value", which can be a pain to get them to pay.

A 2017 Elantra is a $10k car, probably $6-7k trade in value.

Interesting, here in louisiana your own insurance does not owe you a DIME for diminished value.

 

[AZ_Liberty]

Save those quotes, they will be helpful when the insurance company provides a settlement offer. Also any receipts for repairs or maintenance can add to your claim.

This above. When my daughter totaled her Dakota, I had just bought new tires for it two weeks prior. Insurance company upped the settlement by the entire price of the tires (including tax and install) once I provided a copy of the receipt.

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