Auto Insurance Claims: Rear End Collision - Compensation for resale value, toyota corolla, gas tank

Question
I few days ago I was rear ended by a F-250.  I drive a little Toyota Corolla.  Needless to say my car has some significant damage to the rear end of the car.  We pretty much need to replace the entire back end, trunk, rear window, bumper, gas tank, side panels, lights... it all.  Anyway, I do not thing they are going to total it but rather fix it, however, my concern is the effect this accident is going to have on the resale/trade in value as I was getting ready to trade it in for a new car.  Itis only a 2004 and I still owe about 5800 on it, however before the accident TMValue was about 9100.  What should I do?  Should the insurance compensate me for the loss in value as well as pay for the damages to be fixed?

Answer
Hi Tamrah,

Yes. You are entitled to be paid what is called "Diminished Value". This is the loss of value of your car due to the fact that it have been wrecked and repaired. The significant damage will likely cost you at least $2,000.00 in lower value. However these claims are not easy to handle and require the assistance of an expert. Check out www.collisionclaims.com for additional information and assistance with your diminshed value claim.

I hope this helps
Richard Hixenbaugh