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Anyone have experience with diminished value claims?

viper2ko

Active Member
Aug 30, 2017
1,441
1,388
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
 

spooky981

Member
Aug 27, 2016
112
111
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.
 

JMG

Member
Feb 26, 2015
386
263
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.
 

JMG

Member
Feb 26, 2015
386
263
NE Texas
No wonder my rates went from $130 a month to $300 in two years..

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.
 

chesthair

Member
Nov 4, 2017
9
3
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
 

viper2ko

Active Member
Aug 30, 2017
1,441
1,388
USA
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.

Thanks once mine is repaired I may check out this guy
 

gravykev

Member
Nov 11, 2017
6
22
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?
 

viper2ko

Active Member
Aug 30, 2017
1,441
1,388
USA
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?

I brought it up and they said wait until its repaired and they would send me paperwork
 

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