[07Ltd#767]

Hey guys...you may remember this situation from a few weeks ago, but wanted to give an update and need some advice...

Recap: Unfortunately, a lady in the parking deck forgot to look behind her when backing up (see pictures below)

Well, I got my car back last week and just got my diminished value check from the insurance company. IT WAS ONLY $595!!! I mean, wtf...I lost way more money than that off the resale value. I'm not sure if anyone has had the unfortunate displeasure of going through this or not, but if you have, I need some advice. The insurance company would not divulge any information regarding certified appraisers or processes. They pretty much told me once I get a number, call them back.
If any of you have had to go through this, I could use some advice on names / numbers of people to call. If this is the wrong section of the forum, I apologize....

Replace both doors and runner, rear quarter panel work

Total Cost of Repairs: $3,351.81

[Turbo-Enthusiast]

You need to tell the that 500 buck is a load of crap and there not dealing with a 1985 civic!!!!
Dont take any crap from them, Send there check back and talk to a lawyer.

[upncummr]

You say you lost "way more" money than that off of the resale value. How did you determine that?

If you can document your process for determining your loss you can submit that to the insurance company and see what you can negotiate.

For an objective measure, you might try edmunds.com and get the difference in prices for your car in Excellent condition versus Average or Good condition. You could try to make the case that with a limited edition car like yours, prospective buyers are looking for the best example possible. Having non-original panels drops your car down on the list considerably. Maybe it's the difference between a Limited and a regular STi.

Hope that gives you some ideas.

Gary

[ytsohptwhere]

They could say that it would go down 100$ still doesnt mean that I will buy it. Most people run a carfax, see that there has been body damage to it, and steer clear. In all honestly I wouldnt touch a car that has body damage to it. My car had its front bumper replaced and I really could care less because I am never going to sell the car. Hope that helps somewhat. For what its worth, my insurance company never gave me a deminished value check.

[upncummr]

Originally Posted by ytsohptwhere

They could say that it would go down 100$ still doesnt mean that I will buy it. Most people run a carfax, see that there has been body damage to it, and steer clear. In all honestly I wouldnt touch a car that has body damage to it. My car had its front bumper replaced and I really could care less because I am never going to sell the car. Hope that helps somewhat. For what its worth, my insurance company never gave me a deminished value check.

A diminished value check would typically come from the other party's insurance company if they were at fault.

If you damaged the front bumper of your own car and your insurance company fixed your car, they wouldn't give you a diminished value check for your accident.

Gary

[ytsohptwhere]

Yeah I got run off the road by a drunk... I didnt make contact with the other car just put the car into a ditch on a snowy road

[Bay707]

Originally Posted by upncummr

You say you lost "way more" money than that off of the resale value. How did you determine that?

The value of the car has gone down substantially more than his payout check reflects. If you took 500 dollars off the bluebook, would anyone say that is a fair price and purchase the car from you? Just talk to your insurance company , dont cash that check until you settle for an amount you want. Go get it repaired.

[upncummr]

Originally Posted by Bay707

The value of the car has gone down substantially more than his payout check reflects. If you took 500 dollars off the bluebook, would anyone say that is a fair price and purchase the car from you? Just talk to your insurance company , dont cash that check until you settle for an amount you want. Go get it repaired.

I believe the original poster has already had the damage to the car repaired. The $595 check was on top of the cost of the repairs.

When I asked how he determined he had lost "way more" than that, it was simply me playing devil's advocate. He'll have to answer the same question to the satisfaction of the insurance company and provide some "proof" of that contention.

Gary

[ToeKutter]

Arrrghhh...this takes me back to when I had to deal with the insurance company when I totaled my 68 vette! I though years of therapy and anti-depressants would help me put that even behind me, but alas - it's all coming back. Insurance companies are the biggest c**ts on the planet (I guess what do you expect from someone who's in the business of screwing people over)! All I can say is good luck with everything, and I'm not the least surprised by your story.

[///M Power]

I am fighting Allstate with the diminished value of my car where the repairs were $23,600.00. I was told by a good source which happens to be a GM for a local Subaru dealership that the general rule of thumb is that the diminished value is no less than 50% of the repair costs.......I would get a lawyer involved if the insurance company doesn't try to remedy the situation.

[07Ltd#767]

Thanks for the response guys.

As for the "how much" question, the day I was in the accident I printed off every limited I could find being sold across the entire U.S. I then printed out the edmunds and KBB values to show that the street value is much higher than the book value for these limited cars.

Also, Georgia is the only state that requires a diminished value check to be given, regardless of whose fault the accident may be. State Farm lost a case about six years ago (I think, can't remember the case name) that requires all GA vehicles to be given a diminished value check.

I hate to have to involve a lawyer, but I see no other route around it...when I called the at fault party's insurance company to discuss it they pretty much blew me off and said that I needed it to be appraised by a certified appraiser (which is funny b/c they could neither recommend one or tell me what exactly qualified as "certified") and they would take the number into consideration.

This just plain sucks...I hate having to deal with crap like this...

On a positive note, I'm going to turn around and invest all funs from the diminished value check back into the car...at $595, I'm almost at a Cobb AP

And if I get another $1,000...Stg 2 TBE Protune here I come

[renns]

Just throwing in my $.02:

Why pay for a lawyer? It's going to end up costing you much more to pay for the lawyer than you'd ever get from the insurance company.

Be happy with the $595. If the car looks messed up after you get it back from the shop, then talk to the insurance company. I'd bet the car will look fine though. The only time you should try and get a lot would be if the frame was bent.

[austinpike]

Originally Posted by ///M Power

I was told by a good source which happens to be a GM for a local Subaru dealership that the general rule of thumb is that the diminished value is no less than 50% of the repair costs...

Interesting, when doing a trade the dealer will typically ask if it has had more than $1000 in damage repair (and run a carfax)... if so they will use that as a reason to lowball your trade even more.

OP - know anyone who works at a dealer who could provide some insight, or argue on your behalf?

[07STILtdGO]

Wow... that's a bummer. I would think the diminished value would be higher, what with it being a low production, numbered model and all. But hey, I guess the value of mine just went up! Sorry for your misfortune though! I wouldn't waste money on a lawyer and what will probably be a fruitless lawsuit... I'd take the check and get an AP like you mentioned. GL

[upncummr]

You can probably do better than the $595 but you'll have to work for every dollar.

That will include research and documentation.

An extra $500 might take X amount of work. An extra $1,000 might take 3X. An extra $2,500 might not even be possible.

To get the biggest bang, you should probably focus on the exclusivity of the Limited model as opposed to the standard STi or WRX. Being a documented "limited edition" should work in your favor.

Gary