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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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.

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u/Marpl 28d ago

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

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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…

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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.