by dmcane » Thu May 21, 2009 05:55 am
I was in an accident with a 15,000 lb truck with defective brakes. I have a 2007 very low mileage Mustang GT California Special (pristine condition). The repairs are totaling about $11,000. Entire backend, passenger side and front damaged and unibody/frame bent. (he hit me from behind, swerved right, hit curb, bounced back and hit me again in front and then the car in front of me). Lucky no one was hurt badly (we were stopped, he was going < 30 mph).
I asked about Diminished Value and was told they generally pay 10% of REPAIR total but alluded that there was something else I could do and said a supervisor would call (which they didn't). So about the $1100, in my opinion, that is laughable, but that's why I am on this forum, to find out. The adjuster estimated the car to be worth $21,000 as they were trying to determine whether to total it.
So questions:
1) is $1100 fair for DV? Should I get written quotes from dealers/Carmax, etc. and submit? Can I compare to Nada/Edmunds (that's where the adjuster got $21k)? I want to be fair but not ripped off. (I don't want to deal with lawyers or scam websites)
2) I had minor soft tissue injuries, visit to hospital, doctor, etc. Probably totaling around $1000 (before my medical insurance). Can I claim the full amount or do I have to claim my actual out-of-pocket amount? Can I claim pain and suffering? How much is a good rule of thumb? Definitely not worth calling a lawyer, but again wondering what is fair to me.
3) I assume this will show up on a CarFax, when would it show up? Should I use that to help my case?
thanks
I asked about Diminished Value and was told they generally pay 10% of REPAIR total but alluded that there was something else I could do and said a supervisor would call (which they didn't). So about the $1100, in my opinion, that is laughable, but that's why I am on this forum, to find out. The adjuster estimated the car to be worth $21,000 as they were trying to determine whether to total it.
So questions:
1) is $1100 fair for DV? Should I get written quotes from dealers/Carmax, etc. and submit? Can I compare to Nada/Edmunds (that's where the adjuster got $21k)? I want to be fair but not ripped off. (I don't want to deal with lawyers or scam websites)
2) I had minor soft tissue injuries, visit to hospital, doctor, etc. Probably totaling around $1000 (before my medical insurance). Can I claim the full amount or do I have to claim my actual out-of-pocket amount? Can I claim pain and suffering? How much is a good rule of thumb? Definitely not worth calling a lawyer, but again wondering what is fair to me.
3) I assume this will show up on a CarFax, when would it show up? Should I use that to help my case?
thanks
Posted: Fri May 22, 2009 04:33 pm Post Subject:
Take you car to a car-max lot and let them give you a trade in value. They put them on a lift and check for frame clamp marks and other things. I would be surprised if they give you half the trade in value of the normal acv of a non wrecked vehicle.
However, I am reconsidering a lot of new claims because used car prices are increasing (non wrecked and previously wrecked and repaired) and if your car is a fuel saver, it value to a prospective private party buyer might be more. A used car salesman is always going to give you the implication that your vehicle with accident history will have to be sold at auction or they can only put it on a tote the note lot as they do not want to have any rebuilt wrecks on their primary lots.
The same adjusters that tell you we owe you no loss of value until you sell your vehicle and realize the loss at that time, will be the same ones that will tell you we can't help it because you are a bad negotiator and didn't get fairmarket for your trade.
Posted: Mon Aug 17, 2009 05:51 pm Post Subject: update on claim
Hi all:
I have an update on my claim.
My medical bills were $2000.
Car repair bills: $11,000 (car was worth around $22k)
Medical: they are giving me a total of $4000 (2k for bills + 2k for pain/suff).
On dimished value, they are giving me $3500.
Does that sound fair?
They said that is most they will give me outside of litigation.
Posted: Mon Aug 17, 2009 07:05 pm Post Subject:
You did a whole lot better than those that do not feel they are owed anything for a DV loss and do not ask, but not as much as one might have received with a good report and a competent attorney.
It's fair, if you feel you were made whole regardless of what another may have recieved for the same amount of damage.
A good test would be a trade in offers. Disclose the amount of damage and allow the dealer to inspect and see what they would offer you on trade in value. Check that in Nada or Edmunds online to see if adding 3500 would get you excellent trade in value. You would have paid one third contingency fees to an attorney and assessment fees. 3500 is two thirds of 5250, then add about 250 to 350 for an assessment depending on a post repair inspection for quality of repairs and the amount would have been 5500 to 5600 in total DV.
I personally feel your DV was much higher than the 3500 and about a third of what I would have assessed especially with rear frame rail replacement on a mustang. Just curious, did they replace your seat belt and buckle on the front seats or have your upper back seat frame inspected?
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