So Cal - Diminished Value Lawyer Recommendations - LotusTalk

Brennon · 01-17-2008, 01:13 PM

Long story short, a gentleman backed into my car with a truck. All said and done, they paid out about 15 grand.

I just received a call from Allstate (his insurer) stating that they refuse to pay diminished value and are not required by any sort of law to do so. While she agrees with me that it SHOULD be paid, she states they are not required to do so and there is nothing to indicate they would need to, unless it were a one-of-a-kind vehicle.

Now i've seen enough people get diminished value to know this is hogwash, and to my understanding if you're a first party to the insurance company, then no, they don't have to pay. Third party? Open up the pocket book.

Can anyone reccomend a good attorney in So Cal?

pchop · 01-17-2008, 01:18 PM

Quote:

Originally Posted by Brennon

Long story short, a gentleman backed into my car with a truck. All said and done, they paid out about 15 grand.

I just received a call from Allstate (his insurer) stating that they refuse to pay diminished value and are not required by any sort of law to do so. While she agrees with me that it SHOULD be paid, she states they are not required to do so and there is nothing to indicate they would need to, unless it were a one-of-a-kind vehicle.

Now i've seen enough people get diminished value to know this is hogwash, and to my understanding if you're a first party to the insurance company, then no, they don't have to pay. Third party? Open up the pocket book.

Can anyone reccomend a good attorney in So Cal?

You need to contact Erica Eversman of the Ohio-based Vehicle Information Services. She's an attorney and is one of the top leading experts in the country on Diminished Value litigations.

http://www.vehicleinfo.com

I got $30,000 in Diminished Value (because my car's color was 1 of 20 ever made in a the world).

Bavarian Motorist · 01-17-2008, 01:24 PM

Quote:

Originally Posted by pchop

You need to contact Erica Eversman of the Ohio-based Vehicle Information Services. She's an attorney and is one of the top leading experts in the country on Diminished Value litigations.

http://www.vehicleinfo.com

I got $30,000 in Diminished Value (because my car's color was 1 of 20 ever made in a the world).

What color was that and for what car? Surely you aren't talking about your NFB, are you?

The funny thing is that ANY Lotus color is one of only several hundred MAX in the world

pchop · 01-17-2008, 01:28 PM

Quote:

Originally Posted by Bavarian Motorist

What color was that and for what car? Surely you aren't talking about your NFB, are you?

No, not NFB
It's called Blue Chiaro
It's Italian

Icedog_16 · 01-17-2008, 01:46 PM

Quote:

Originally Posted by pchop

No, not NFB
It's called Blue Chiaro
It's Italian

I guess that'd make it a Ferrari.

Bavarian Motorist · 01-17-2008, 01:54 PM

Quote:

Originally Posted by Icedog_16

I guess that'd make it a Ferrari.

Just looked it up...it is

Pchop is so humble that he doesn't even disclose that it is a Ferrari color.

kestrel74 · 01-17-2008, 01:57 PM

Quote:

Originally Posted by Bavarian Motorist

Just looked it up...it is

Pchop is so humble that he doesn't even disclose that it is a Ferrari color.

Ya gotta look at his profile......NICE !

Brennon · 01-17-2008, 01:58 PM

Quote:

Originally Posted by kestrel74

Ya gotta look at his profile......NICE !

So 3 grand in paint will get me 30 grand back in diminished value?

nvrblu · 01-17-2008, 02:19 PM

I'm currently working on a diminished value claim against Allstate. I'm waiting for their reply to my claim.

Brennon · 01-17-2008, 02:51 PM

Quote:

Originally Posted by nvrblu

I'm currently working on a diminished value claim against Allstate. I'm waiting for their reply to my claim.

Class action!

Maybe we can work a two for one deal or something?

Anyone know a way to find out what % of elises came in a specific color?

ChrisB · 01-17-2008, 03:04 PM

I guess the Aztec Gold guys get the last laugh after all.

edaddy · 01-17-2008, 03:05 PM

Quote:

Originally Posted by ChrisB

I guess the Aztec Gold guys get the last laugh after all.

That's Aztec Bronze...

pchop · 01-17-2008, 03:11 PM

Quote:

Originally Posted by kestrel74

Ya gotta look at his profile......NICE !

thanks. but it's not the F430 that was "wrecked" ferris bueller style by the valet - if was an older model.

pchop · 01-17-2008, 03:13 PM

just bear in mind that usually the diminished value is approximately 10% of the value of the vehicle. however, specialty vehicle are harder to determine DV. If someone is liable for the damages to your vehicle, and if the repair will have a negative impact to your resale value, you have the right to seek compensation for lost value. One can argue that in a full disclosure transaction, and if you must discount your vehicle by $$$ in order to resale, then you are entitled to it as part of insurance payout.

The insurance companies are betting that most of the customers will not to seek for additional DV b/c the legal fee will rival if not exceed the DV - hence the insurance companies will always try to get away with this.

John · 01-17-2008, 05:27 PM

Brennon - did you have an independent appraiser estimate the value of the car? Insurance companies may try to say they aren't liable for it, but they in fact are (law is on your side here). Reason they're saying that is so they hope you give up and save them several thousand dollars...

J, who is currently in the process of procuring a DV sum...

Bavarian Motorist · 01-17-2008, 05:50 PM

Yeah, I would never believe what an insurance person says. What crooks.

Brennon · 01-19-2008, 03:31 PM

01-17-2008, 01:13 PM	#1 (permalink)
Brennon Registered User Join Date: Nov 2006 Posts: 1,319	So Cal - Diminished Value Lawyer Recommendations Long story short, a gentleman backed into my car with a truck. All said and done, they paid out about 15 grand. I just received a call from Allstate (his insurer) stating that they refuse to pay diminished value and are not required by any sort of law to do so. While she agrees with me that it SHOULD be paid, she states they are not required to do so and there is nothing to indicate they would need to, unless it were a one-of-a-kind vehicle. Now i've seen enough people get diminished value to know this is hogwash, and to my understanding if you're a first party to the insurance company, then no, they don't have to pay. Third party? Open up the pocket book. Can anyone reccomend a good attorney in So Cal?

01-17-2008, 02:19 PM	#9 (permalink)
nvrblu ... _ . ..._ . Join Date: Jan 2006 Location: Mesa, AZ Posts: 3,392	I'm currently working on a diminished value claim against Allstate. I'm waiting for their reply to my claim. __________________ Steve -- '05 Laser Blue, Biscuit, Sport/Touring, Starshield

01-17-2008, 03:13 PM	#14 (permalink)
pchop Use Chopstix and Eat Rice Join Date: May 2006 Location: New York/Los Angeles Posts: 761	just bear in mind that usually the diminished value is approximately 10% of the value of the vehicle. however, specialty vehicle are harder to determine DV. If someone is liable for the damages to your vehicle, and if the repair will have a negative impact to your resale value, you have the right to seek compensation for lost value. One can argue that in a full disclosure transaction, and if you must discount your vehicle by $$$ in order to resale, then you are entitled to it as part of insurance payout. The insurance companies are betting that most of the customers will not to seek for additional DV b/c the legal fee will rival if not exceed the DV - hence the insurance companies will always try to get away with this. Last edited by pchop : 01-17-2008 at 03:22 PM.

01-17-2008, 05:27 PM	#15 (permalink)
John :panic: Join Date: Aug 2004 Location: San Diego, CA Posts: 1,795	Brennon - did you have an independent appraiser estimate the value of the car? Insurance companies may try to say they aren't liable for it, but they in fact are (law is on your side here). Reason they're saying that is so they hope you give up and save them several thousand dollars... J, who is currently in the process of procuring a DV sum... __________________ 05 "Elixige" w/ Stuff - FOR SALE 07 Mazda 3S - 4-wheeled commuter 99 YZF-600R - 2-wheeled commuter

01-17-2008, 05:50 PM	#16 (permalink)
Bavarian Motorist Live to Drive Join Date: Nov 2006 Location: NYC/Westchester, NY Posts: 10,855	Yeah, I would never believe what an insurance person says. What crooks. __________________ Be an alpha male. Drive a Lotus.

01-17-2008, 03:04 PM	#11 (permalink)
ChrisB I'm Lovin' It! Join Date: Oct 2003 Location: Newport Beach, CA Posts: 3,970 Images: 1	I guess the Aztec Gold guys get the last laugh after all.

01-19-2008, 03:31 PM	#17 (permalink)
Brennon Registered User Join Date: Nov 2006 Posts: 1,319	. Last edited by Brennon : 02-24-2008 at 07:16 PM.

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