TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker and becoming a Supporting Member. For more info: Support TMC

Anyone have experience with diminished value claims?

Discussion in 'Model S' started by viper2ko, Mar 28, 2018.

  1. viper2ko

    viper2ko Active Member

    Joined:
    Aug 30, 2017
    Messages:
    1,111
    Location:
    USA
    Got rear ended in my 5 month old S75D. It's currently in the shop and needs a new rear bumper. Wanted to prepare to submit for diminished value. Not really sure how to go about it or what to expect though. Anyone have any thoughts/experience with this
     
  2. JPP

    JPP Active Member

    Joined:
    Feb 4, 2013
    Messages:
    2,995
    Location:
    SF Bay Area, CA
    Have you searched these forums??? Lots of posts here....
     
  3. GatorGuy

    GatorGuy Member

    Joined:
    Feb 25, 2018
    Messages:
    529
    Location:
    Jacksonville
    No experience with a Tesla but with other vehicles. You'll need a 3rd party and it'll be a fight. Some insurance companies are worse than others with DV claims.
     
    • Like x 1
  4. MyWifeandI

    MyWifeandI Member

    Joined:
    Oct 31, 2014
    Messages:
    42
    Location:
    Phoenix
    • Informative x 1
  5. spooky981

    spooky981 Member

    Joined:
    Aug 27, 2016
    Messages:
    106
    Location:
    Washington DC
    Get it patched up to your satisfaction first. Once that's done, contact the representative from the OTHER guy's insurance that you gave your side of the story to and notify them that you're seeking diminished value. They'll most likely send you off to somebody else.

    How it goes from there depends on the state. Some states you just need to ask and they'll make you an offer, some states you can actually get DV from your own insurance, and some states are really difficult where getting a lawyer involved is virtually mandatory.
     
  6. JMG

    JMG Member

    Joined:
    Feb 26, 2015
    Messages:
    386
    Location:
    NE Texas
    Yes. I've gotten around $18,000 in diminished value between two claims. Both times I used this guy. So he has experience w/ several Teslas and has a lot of knowledge on how to deal with the other insurance company and negotiating.

    First accident was only about $11,000 in actual damages, I recovered $12k in DV.

    Second accident was about $6,000 in actual damages, I recovered $6k in DV.

    If you just ask the insurance company about it, they will say something to the effect of, "We'll put in a request to our DV department." They will hire some random 3rd party to come up with a report and it will be either nothing or way low. Then its up to you to provide some type of proof or report from an expert to counter their offer. Then it's just a negotiation, and he can tell you if you got a good offer and take it or fight it.
     
  7. cytranic

    cytranic Member

    Joined:
    Aug 14, 2015
    Messages:
    107
    Location:
    FL
    No wonder my rates went from $130 a month to $300 in two years..
     
  8. JMG

    JMG Member

    Joined:
    Feb 26, 2015
    Messages:
    386
    Location:
    NE Texas
    You are correct. More people are driving, more distracted driving, more accidents, and vehicles like our Tesla's are extremely expensive to repair. Both accidents of mine were by other drivers hitting me at probably no faster than 5 mph.

    I'm actually in the insurance business, and I'm dealing with rate increases of sometimes up to 35% with no claims.
     
  9. chesthair

    chesthair Member

    Joined:
    Nov 4, 2017
    Messages:
    9
    Location:
    rockaway beach
    You can also pay for a charge in ins. premium that can keep value high in a total. You were rear ended your neck must
    hurt a lot and dizzy spells and help climbing in your car and all. kidding. $$$,$$$. besides one can argue in a rear end accident that the insurer of the other car pays to buy your car if it sustains enough damage you feel that it is going to be problems to keep it. obviously you were in a low speed accident and you should be ok. The bumpers on tesla is no different than any other car ....crap
     
  10. viper2ko

    viper2ko Active Member

    Joined:
    Aug 30, 2017
    Messages:
    1,111
    Location:
    USA
    Thanks once mine is repaired I may check out this guy
     
  11. gravykev

    gravykev Member

    Joined:
    Nov 11, 2017
    Messages:
    6
    Location:
    Los Angeles
    Similar situation...wreck on March 23rd. Should I wait for repairs to be complete before I tell the at fault insurance company I expect some sort of diminished value compensation? Or should I tell them now?
     
  12. viper2ko

    viper2ko Active Member

    Joined:
    Aug 30, 2017
    Messages:
    1,111
    Location:
    USA
    I brought it up and they said wait until its repaired and they would send me paperwork
     
  13. gravykev

    gravykev Member

    Joined:
    Nov 11, 2017
    Messages:
    6
    Location:
    Los Angeles
    Thanks! I wanted to make sure I don't lose out on a DV claim simply because I didn't file a document or something.
     
  14. viper2ko

    viper2ko Active Member

    Joined:
    Aug 30, 2017
    Messages:
    1,111
    Location:
    USA
    I believe most states allow you 2 years to make it
     

Share This Page

  • About Us

    Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.
  • Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


    SUPPORT TMC