Diminished Car value claim in TX

[Beto]

Did you file a police report, if so it will be reported to car fax.

[marksmu]

Originally Posted by icrnk

This is false. Diminished value is recognized in Texas. As a consumer I would offer less for a vehicle that has been involved in an accident. Don't let insurance companies try to get out of their obligations. We pay them every month for a reason. Don't be a push over.

Sent u a pm Smuggy

Diminished value is recognized - but an insurance company is not legally required to compensate you for it. That is why they never do. You must compel them to do it.

You are able to get an insurance company to pay for it but usually you have to file suit in order to do so. If you just threaten to sue they may work with you on it, but again - following an accident the requirement is to put you back in the place you were prior to the accident. Nothing more....They fix your car and send you on your way...if you complain & threaten they may compensate you further.

[icrnk]

Originally Posted by marksmu

Diminished value is recognized - but an insurance company is not legally required to compensate you for it. That is why they never do. You must compel them to do it.

You are able to get an insurance company to pay for it but usually you have to file suit in order to do so. If you just threaten to sue they may work with you on it, but again - following an accident the requirement is to put you back in the place you were prior to the accident. Nothing more....They fix your car and send you on your way...if you complain & threaten they may compensate you further.

This person has experienced it himself the effect of diminished value on the last vehicle he sold. If he decides to sell the vehicle in the future and an interested buyer asks if the vehicle has been involved in an accident, he should answer honestly. In doing so his vehicle will be worth less when compared to a similar vehicle that has not been involved in an accident, regardless of how close the vehicle was put back to pre-accident condition. I recommend to get a appraisal done and forward to the adjuster. If they deny it's not difficult to put in a small claims petition. You pay insurance to protect yourself and others that may be affected by any damage you cause. The person that hit you does so for the same reason and she caused vehicle damage that should be repaired along with diminished value that should also be compensated.

If anything you can always ask an auto appraisal if it's worthwhile for your vehicle and the damage involved. In some cases the amount of diminished value may not justify the effort.