Join Date: Apr 2017
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Yes, it will Show up....Make SURE you SUE or ASK for DEMINISHED VALUE Claim for your car.....All 50 states honor it.....Its the Value of the car's Lost value due to a wreck.....Example....I have a 2014 Boxer S....Lady rear ended me....Cost of repair was 5000.00......the Deminished value claim was 15,300.00.....I had it appraised by a Certified appraiser that does Ferrari's and other high end cars....His Name is Lance Cohen, in California.....Google him.....He does not need the car, just the repair Bill......Of course the Insurance company only wanted to give me a extra 3K for Deminshed value...so you will probably have to sue and then they will pay...they have to....its the Law. My friend attorney is handling it....not a big deal.
ONE criteria are needed for Diminished value... 1. the car Can not have any prior accidents, in other words, its a virgin, first wreck And its only good for ONE wreck, you can't keep getting Deminished value for a second wreck.
Its baséd on the Value of the car at the Time of wreck, not related to how much damage was done.....with a high end car like Ferrari, Porsche Maserati...its usually about 20 to 25% of the value of the car......Because who will want to buy a car thats been in a wreck with a bad car Fax report, when there are so many with clean car fax reports.....Unless the price is Really Low, hence the high value of the DV claim amount. My porsche is probably un sellable now, unless I reduce the price that much. No frame damage, just the bumper and trunk lid. I found out about this from a lecture that Lance Cohen did at a Car Show. ....I had no idea about Dem. Value before.....Oh, it applies to any car, that is a virgin.