Auto Insurance Claims: Figuring out Devaluation, Devaluation / Diminution of Value

Question
I have a new car that got side swiped 5 months after I bought it.  I am in the middle of a claim now with the insured who will not respond to correspondence.  Is there a percentage rule-of-thumb to go by in situations like this?  I have a 2011 Nissan Versa.

Thank you for your assistance!

Answer
Kim,

  I'm not sure I understand your question.  If you are referring to diminished value, then there is no formula or rule of thumb.  One simply has to research the market for the vehicle.  On a 2011 Nissa Versa, depending on the damage, our research indicates that you'll likely lose a maximum of around 22% of the reasonable trade in value.  Of course, the specific components and amount of damage it sustained can alter the total amount of diminished value.  Additionally, as the owner of a vehicle, you have a financial interest in the vehicle and cannot "certify" the value due to your conflict of interest.  Likewise, dealers have a conflict as they sell vehicles for profit.  On top of the conflict issues, the data provided to support diminished value must be obtained and documented in a generally accepted and credible manner.  Our reports conform to the most widely accepted method. . . . The Uniform Standards of Professional Appraisal Practice.  

   If you're not getting a response, then you need professional help.  Search for credible diminished value report on the net and see if you can find somebody that will help you out.  I hope this helps!

Sincerely,

Justin Petty