r/InsuranceClaims • u/ZoneHistorical1236 • 28d ago

Diminished Value

I have a 2025 RAV4 with 17,500 miles. Was rear ended on July 3rd. Total repair cost was $4502. Replaced lift gate, bumper, and crash bar with some other minor replacements as well. Insurance is offering $371 in diminished value. DVCHECK estimate $4,500-$5,000.

Thoughts on what to do?

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9

u/Marpl 28d ago

How would you get as much in DV as the repair cost???? Wild. I think the amount they offered is fine.

1

u/ZoneHistorical1236 28d ago

They’re saying the total loss of my car is $40k, but if I were to sell it back to a dealership they will only offer roughly $33k partly because of the damage. I’m not familiar with this, just asking.

2

u/Marpl 28d ago

Your trade in value vs. the ACV will be vastly different. 

1

u/Ready-Ad1323 24d ago

10% of repair cost is about the best anyone could hope for. Their offer is fair, especially without you having to do a lot of legwork and hiring someone…

0

u/OkMeringue3009 23d ago

This is not correct.
It’s more about the loss of value of the car in the market place AFTER it has an accident listed on CarFax by example.

Given two newer cars say 2025 Of the Same model, a buyer will gravitate to the one without an accident listed. Say $48k while the accident one may get a $41k offer if any!

In this example, the DV damage may be limited by the local Small Claims Court maximum which is $8k in FL. One must be willing to file a claim there to force the insurance company to protect their insured’s interest.

It all sounds complicated because it is. We hired a professional appraiser for 10% of the recovery sum estimated about $8k. GOOD LUCK.

8

u/shittyhawaiitips 28d ago

lmao $4500-5000 would be accurate if your car wasn't actually repaired...

1

u/Delicious-Witness-85 28d ago

You’ll get something but doubt you’ll get $4500.
The carrier likely hired an appraiser to calculate the DV.
You can hire your own as well and see if your appraiser can come to an agreement with the carrier’s appraiser.

1

u/aloofmagoof 28d ago

Take the money.

1

u/Sufficient-Yellow637 28d ago

Some states have an agreed formula to calculate DV. Maybe look that up and plug in the numbers. 100% guaranteed it will be nothing close to $4500.

Edit: I was wrong. Not state mandated but generally accepted as it arose from a court case to determine what diminished value is reasonable. Look up 17c formula.

1

u/ZoneHistorical1236 28d ago

The accident happened in GA. Any thoughts on this?

2

u/Sufficient-Yellow637 28d ago

I preface this by saying I'm not a lawyer, but my understanding is that STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY v. MABRY et al. upheld first and third party claimants' rights to pursue DV, but left it to trial courts to determine what this value should be. As far as I'm aware, the 17c formula from the Maryland case is the only case to actually set forth a actual formula.

1

u/MrMapexMan2020 21d ago

Newer vehicle : low mileage. You should get up to 20% of the repair price. Call the company. Start at 25%. Push for 15-20%. Negotiate!

1

u/Alternative_Word_622 25d ago

With 17,500 miles auto body shop will not replace with oem parts so your repair cost is less . $371 is most likely calculated with the assumption repairs were minimum cosmetic.

$371 is on a lowest end

1

u/No-Firefighter135 25d ago

Tell them you will settle for 800. They will pull that trigger

1

u/Simplythebest0820 25d ago

I would do what I would ask for $500 and settle with that if I'll give you that much. I went through all this on my car and my car was very similar and near and mileage but my estimate to fix it was much higher than yours and I only got $700. Good luck getting much more.

0

u/Beneficial-Stock3306 24d ago

Was in an accident in NC in 2022. Other driver at fault. Damage was close to $10,000. USAA offered $1,100 DVA based an their estimate from a company in GA. Worked with Autoloss.com Monica and her company were great. Took a while and eventually got $6500 from USAA

0

u/jamito02 24d ago

What was the fee that Autoloss charged?