My bronco recently got hit by a golf cart in the church parking. Given it was only 4 months old and now has a wreck on its record. How did you or the insurance company go about calculating the diminished value? the insurance company seems to think I’m crazy arguing with them about it.
Diminution in value losses are third party claims. Meaning, you go after the at fault driver’s insurance for the reduction in market value your car sustained from pre loss, to after repairs. There are some formulas out there, but it can be subjective. I think GA is the only state that allows first party DV claims (stemming from a State Farm case probably 15 years ago). Otherwise, there is no first party (under your policy) DV on a reparable vehicle.
When you say "the insurance company" I am assuming you mean the other driver's insurance and not yours. While I am sure laws vary by state, I am in California and my own insurance told me straight out they do not pay DV to their own insured and I had to go after the other persons insurance.
Yes. It has been filed with the church’s insurance. That sounds like a big huge pain in the butt. It amazes me that insurance would balk at this. No car is worth the same once it’s been damaged. Thanks for the info.
Though I won’t argue your logic, many insurance carriers are totaling vehicles due to supply constraints of obtaining the necessary replacement parts. The carriers don’t like keeping claims open for months at a time when parts are not available. This may or may not be the case, but a situation more common in today’s environment
could be the best response yetYour solution is here.
What's in your Scout? Buy it back. Your Scout needs a 2.7 and 10 speed!
Added a “stinger “ on back to inhibit direct contact, side steps same. I figured the bronco design on back did little to prevent damage so I armored up 360. Stinger is a solid shank 14 in curt. More mass the better.I got rear-ended while I was at a full stop a month ago. We continued driving the Bronco around until we could get it into the shop. Just heard back from the shop, and with the damage to the frame, it's totaled. Looking for any advice on what to do next, take the insurance payout, and walk away? Repurchase it from insurance and try and get the frame pulled? Sort out a way to mount the bumper/tow hitch so that it's even? It's a bummer because it drives just fine, and we've only had it for about eight months. Yes, I know towing abilities would be compromised with this sort of damage.
Maybe I'm missing something but that is still going to transfer the energy of a collision into whatever you've mounted it to.
Added a “stinger “ on back to inhibit direct contact, side steps same. I figured the bronco design on back did little to prevent damage so I armored up 360. Stinger is a solid shank 14 in curt. More mass the better.
