Reply to diminution in value after accident

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[quote=Anonymous][quote=Anonymous]Easiest way is to have a diminished value expert write a report. It will cost about $400. I got the amount they came to, and the $400. In Maryland. [/quote]

+100

Spouse was rear ended in Maryland a few years ago. He was in a relatively new car. Person who hit him was insured by GEICO. Damages were about 1,800, but now we had an accident on the Carfax report. We drive a lot, and turn our cars over relatively quickly. Having an accident on the Carfax would be a reason for a dealer, or private buyer to lowball us on trade.

We found a company who calculates diminished value from accidents (reedappraisers.com) and they calculated our diminished value to be nearly as much as the damage caused by the accident. Once repairs were complete, DH made a separate diminished value claim to GEICO. They came back quickly and offered us $600. We said no way, and wanted something closer to what our report said. After much back and forth, we ended up agreeing to $1,400

Diminished value claims are do-able, but it was completely on us to follow through on it.[/quote]

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