Adjuster offered me diminished value is this right?

Question

I had an accident back in January 2008. Adjuster now settling on my claim for 1,260.00 - this is the amount of my diminished value. My car cost 21,195.00 when I bought it, it is Honda CRV 4DR 2007. My car fixed already and it cost 4,634.00 to fix it. I asked the adjuster how did he get that figure, he used the NADA, wasn't it Kelley Blue book is more accurate? When I did my value of car now, I am not getting his figure? What is really the rule on calculating this DV amount? When you get the value of your car now, do I have to go back in January, how much it cost then or today (august)? Please help if this amount they are trying to settle is right amount. Please help.

Thanks.

Answer 1

Diminished value does not come into play unless they are going to total your vehicle. The repairs done should be paid in full by the company (unless it was your fault, then they would subtract the deductible).

Answer 2

did you have gap insurance?....is the vehicle totaled?

You can dispute any claim....it is the adjuster's job to get you to take the smallest amount possible.

Call customer service and report the adjuster and tell then

Answer 3

Sounds like the insurance company is trying to get one over on you.  If the car was not totaled, the insurance company is supposed to pay for the repairs minus whatever your deductible is, if you have full coverage insurance.

The NADA guide is usually what all dealers and insurance companies use to determine car values. Kelley Blue Book is more of a shade tree mechanics guide to car values.

Good luck.

Answer 4

I think some one slipped a digit.

I can see 12600.00 on a 07 provided it was extremely high mileage.

Fight it and don't settle for less then what you think it was worth.

Go to the nada site and find out what they say, I tried it for my address and his value is not where close to what the site says.

http://www.nadaguides.com/