Auto Insurance Claims: hail damage, hail storm, hail damage

Question
I purchased a truck in 12/11 and on 04/12 we had a hail storm .  Dealer making repairs says they have to cut roof of truck and replace the roof.  The insurance company says they wil cover cost. My question , do I have  any other options besides getting the repairs done .  My concern is the truck is going to loose it's value

Answer
Andrew,

Yes, there is an options, and yes, your vehicle will lose value due to the loss related damages and repair which you likely cannot recover, unless perhaps you claim the economic loss as a casualty loss in your taxes; I would suggest you check with your tax professional on that issue.

As for  your options, I would suggest you speak to a local dealer or two to see who can give you the best trade-in value for the vehicle as it is. If you haven't started repairs yet, you can take it in, along with the insurance estimate of repair and proceeds (ins. check) and strike a deal to trade the truck in as it is and get another new truck.

Sales are still slow so the dealer will be anxious to make a sale and you'll be back "on the road" in your new truck again!

You'll likely still take an economic loss simply because you'll be trading a "used Truck" in for a new one but with dealer incentives and good negotiations, you may come out all right...if not...get the truck repaired properly and thoroughly, get a "lifetime warranty" for the repair (most quality repairers offer that) and enjoy your new damaged/repaired truck till the wheels fall off (not literally) thus getting the full value of the vehicle.

I hope this offers some help.

Good luck and let me know if further questions.