Someone hit my 2013

[younghno50]

Interesting... How does one go about doing a DV claim?t car is less than 2 months old and if I were to sell it how much less would it be worth? Do I do this claim after the final estimate is done?

[ard]

Originally Posted by younghno50

Interesting... How does one go about doing a DV claim?t car is less than 2 months old and if I were to sell it how much less would it be worth? Do I do this claim after the final estimate is done?

I would start with this site called "google".

You can type in words like DV and Diminished Value and "How do I file a Diminished value claim in Virginia" and it will give you back lists of 'hits' where it has found those words...

Then by reading those pages you can figure it out.

Or, you can hope a lawyer or insurance adjuster replies to your question...

Oh, I asked who was handling your claim- if it was another party or your collision policy was covering it (ie a hit and run). If it is your insurance under collision, they typically EXCLUDE DV as a matter of policy language.

So, let us know if it is collision or liability, then we can determine even if you CAN file a claim.

A

[younghno50]

Originally Posted by ard

I would start with this site called "google".

You can type in words like DV and Diminished Value and "How do I file a Diminished value claim in Virginia" and it will give you back lists of 'hits' where it has found those words...

Then by reading those pages you can figure it out.

Or, you can hope a lawyer or insurance adjuster replies to your question...

Oh, I asked who was handling your claim- if it was another party or your collision policy was covering it (ie a hit and run). If it is your insurance under collision, they typically EXCLUDE DV as a matter of policy language.

So, let us know if it is collision or liability, then we can determine even if you CAN file a claim.

A

Thanks! I will be doing some research this weekend..

[ard]

3rd time I am asking:

Is it going to be a LIABILITY claim or a COLLISION claim????????????????????

[younghno50]

sorry Ard,

Collision claim paid by the responsible party.

thanks,

Young

[ard]

Originally Posted by younghno50

sorry Ard,

Collision claim paid by the responsible party.

thanks,

Young

"Collision" is your coverage. Your insurer MAY say "Young, the terms of your policy say that we will not pay DV- we will only pay to repair your car"... see what they say, but you may need to be firm with them.

The issue is that they can play a game where they pay it via your collision policy and subrogate it to the other insurer. But they use restrictions on YOUR policy that dont exist when it is a pure 'other party at fault and is liable for ALL your losses'.

The key issue it that you and YOUR insurer have an agreement (the policy) that defines how THEY will fix YOUR car.... BUT, and this is key, there is no such agreement between you and ANYONE WHO HITS YOUR CAR. The other guy is liable for your losses, and your policy and their policy are secondary to the fact that he is liable for your losses.... DV, loss of time, pain and suffering, lost work, etc, etc

I go into this detail, and sound preachy, because many people just do what the insurers tell them to do...wait for us to send a claims adjuster, or 'on, you cant rent a car for morew that $25 a day, or he doesnt have rental car coverage...etc...etc..

Bottom line, if the other party is at fault, you CAN claim DV. HOW to do it will be to hire a person/firm to prepare a DV estimate- usually a market survey of car values and how they decrease when carfax shows an accident on the VIN. You add a letter to this and send it to the other party (or their insurnace or your insurance) ..but the key concept is the guy who hit you IS the one that has caused your DV loss and he needs to pay. If his insurance refuses, you can sue HIM for the DV claim....his insurer will wind up paying it. (Because HIS policy says 'We will pay, up to you policy limits. for your liability in the even you have an accident.')

Hopefully your insurer will say 'sure, we can help with that'- but in my limited experience ALL insurers try and dissuade DV as it is a huge liability for them when everyone starts adding DVs to their claims. BGMs success notwithstanding.

GL

A