Auto Insurance Claims: diminished value claim, diminished value claim, 2006 ford explorer

Question
Richard,

I was recently involved in an accident that was he fault of the other driver. My 2006 Ford Explorer had 20K miles and was paid for. The other driver is willing to pay for the $5400 worth of repairs, but balked when I mentioned my concerns about the diminished value. The repairs will not be complete until Nov. 7.

How should I proceed?
Thank you,
Martha

Answer
Hi Martha,

Based on the information you provided, your vehicle will suffer a diminiahed value of between $2,000.00 to $3,000.00.  The at fault driver is responsible for paying all damages, costs and expenses related to his negligence. The diminished value of your vehicle is part of the damage to your vehicle.  It may be required that you have a professional appraisal done for the diminished value. This will give you third party proof of your loss. The cost of an appraisal will be around $300.00 but would be well spent.

For additional information on diminished value and to obtain an appraisal check out www.collisionclaims.com .

I hope this helps
Richard Hixenbaugh