Sanjib, I recently had an experience with this as well. My car that I had purchased used had not had any previous accidents, and I was rear ended, the other driver was 100% at fault.
I reached out to State Farm (both my insurance and the other driver's insurance provider) asking for diminished value, and they stated they didn't acknowledge diminished value.
I then paid $300 to a third party service to determine the diminished value of my vehicle and presented it to State Farm and they still did not acknowledge it.
I then ultimately had to sue the other driver (because in my state you have to list the driver on the lawsuit at first, which State Farm then took the case over and hired a lawyer on the driver's behalf) and took the insurance company to court.
The judge eventually agreed on my side and they ended up sending me a check for approximately 90% of what my report stated the diminished value was.
So ultimately, don't be surprised if the insurance company denies your request, but don't be afraid to exhaust all resources in order to get your fair compensation and be made whole again. Best of luck.
Comments
Sanjib, I recently had an experience with this as well. My car that I had purchased used had not had any previous accidents, and I was rear ended, the other driver was 100% at fault. I reached out to State Farm (both my insurance and the other driver's insurance provider) asking for diminished value, and they stated they didn't acknowledge diminished value. I then paid $300 to a third party service to determine the diminished value of my vehicle and presented it to State Farm and they still did not acknowledge it. I then ultimately had to sue the other driver (because in my state you have to list the driver on the lawsuit at first, which State Farm then took the case over and hired a lawyer on the driver's behalf) and took the insurance company to court. The judge eventually agreed on my side and they ended up sending me a check for approximately 90% of what my report stated the diminished value was. So ultimately, don't be surprised if the insurance company denies your request, but don't be afraid to exhaust all resources in order to get your fair compensation and be made whole again. Best of luck.
Post: Diminished Value
Link to comment from September 21, 2021