QuestionA man pulled out in front of me and I T-Boned him. It was his fault completely and he admitted it to his insurance Co. His insurance is USAA (I hear horror stories).
The insurance company told me that at the end (When my repairs were complete) that she would send me a form to fill out for a DIMINISHED VALUE CLAIM. I do not trust that their offer will be fair at all - So, I contacted www.collisionclaims.com to see what their service offers. They say they prepare a 9 page report based on all of the accident and repair info - And, the report gives an estimate of damages - Or Value of the Diminished Value. They are not attorneys - But state that thier report will is court-friendly and will stand-up in any court if I have to sue the insurance company.
My question is this: What is the correct way to proceed with a Diminished Value Claim as a 3rd party not-at-fault person? Do I trust the other drivers representative and fill out the form she is sending? Or, do I hire the independant inspectors to prepare me the 9 page report? The independant inspectors say that USAA will use some sort of t71 formula, which according to them will not hold up in court - And, in fact is not recognized in Texas - Only Georgia.
Anyways, I know that Diminished Value Claims are real and that as a third part not-at-fault person am entitled to such - But, do not know the process of how to claim it correctly. Any advise would be very helpful.
AnswerHi Marc,
Depending on the year, make, model and value of your car, a diminished value claim is usually worth between 10-15% of the cars current value.
My dealings with USAA over the years has shown them to be a very fair company, but, just like all others, they will try to settle for the smallest amount possible.
Your own insurance company should be able to refer you to a local specialist in diminished value who can write a report and be willing to testify in court if necessary.
I hope this has been of help.
Sincerely,
Bennie
