I had a car accident and the fault side's insurance compay paid for body repair ( abuot $ 960 in their recommanded bodyshop ) and also the rental (my car is still in bodyshop). I am not sure if I need to ask some compensations for diminished value of my car and also missed work hour on dealing with the accident. I never done this before. My car is 1997 Toyata Collora and the private value from KBB is $ 3185 (for good condition), some people said the compensation for diminished value could be 40% of the KBB private value, which to me is 3185 x 0.4 = $ 1274. They are going to replace the right fender, repair and repaint the passenger side door. So I want to know if I ask for $ 1274 from insurance is fair. I hope anyone can give me some advises on how to deal with this. Thank you!
Answer by Barb W
Get a Lawyer! The other guy's insurance co. is going to pay the least they can. An attorney will protect you from that. You can only collect as much as the other guy is insured for, unless it was a kid and has insurance through his parents policy. An attorney will take apprx. 1/3 of what you get. Please make sure you have no spine injuries.....get some x-rays. I am disabled from a rear end accident. A word to the wise....
Answer by Final Answer
Only some states have a diminished value clause however, the insurance will most likely compensate you for any pain/suffering or inconvenience as a result of the accident. Just be sure if you are asked to sign a release you understand that you may be signing away the right to collect any additional money at a later date.
Answer by Melgar
You should ask for comp for the missed work. Normally, you can get it, as long as you are not abusive.
For diminished value, if the repairs are done correctly, there is none. In other words the vehicle is worth the same as a good condition vehicle after repairs. It is true that there will be some "mud" on your vehicle. But that is not going to make a difference for a vehicle that is 10 model years old. I have been on both sides of this (as an insurance adjustor and as someone who has tried get the most possible after an auto accident)
Good luck to you!
Answer by Billy T
that sounds about right. make sure this amount will fix your car and cover the cost of your rental car.they will not pay you for the hour or so that you missed from work or pay you extra because your car went through the repair process.if your car was not repairable you would get the blue book price based on its condition and they would keep your car normally.
What do you think? Answer below!
Orignal From: How much should I ask for the compensation from insurance?
Post a Comment