Post Accident Vehicle Depreciation?

Question

My parked and unoccupied vehicle was hit broadside and into another parked vehicle by a 17 year old drunk driver. Her insurance company has accepted liability - how difficult is it to settle a depreciation claim?Since the accident my vehicle is now worth about $2000 less just because it was in an accident (i was obviously not at fault at all). Any comments would be greatly appreciated!

Answer 1

this is called diminition in value.  You are able to file a claim for this,  however it is very subjective.  Many factors come into play when  this is being settled.  for instance, how old is your car, what is the condition, how much damage was there, was it cosmetic, what kind  of vehilce it was, has it ever been wrecked before.  All of these factors will come into play.  Most companies handle each one on it's merits.  Just curious, the $2000 price  you got, was it from a dealer?  They are usually very overpriced on this issue.  It's really something you need to discuss with the adjuster who is handling your claim as too many variances could change the outcome.