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Diminished value claim -- any successes?

vapor trail

Member
Sep 9, 2015
238
223
Roseville, CA
Last month my basically new 2019 (June build/delivery) performance Raven model S was rear-ended on freeway while commuting home from work. Car has 570 miles. Was in pristine condition. I've posted previously about this accident on this forum.

Checking back in to see if any other Tesla owners have had experience with diminished value claims. If so, please chime in.

Thanks!
 

Bballou

Member
Dec 18, 2017
33
32
New York, USA
My model S was rear-ended at a stoplight. There was some minor structural damage that had to be repaired. I got a diminished value reimbursement for something like $5-10K from USAA. I did have to specifically ask for it, but once I did it was an easy process.
 

snellenr

Member
Aug 5, 2013
427
715
Northern Michigan
My 3 month old 2014 P85 was T-boned on the right front wheel in my Houston office parking ramp - $18,000 to repair (body work plus some cooling hardware). At that time, there was evidence (an article in Forbes, for one thing) that the typical “once you it drive off the lot” resale depreciation was minimal-to-nil for Teslas due to demand & production constraints. I submitted a diminished value claim of $20,000 to the hitters insurance (State Farm), including the Forbes article and some other data.

Long story short - they sent out a new adjuster for the DV claim and eventually offered $11,000, which I accepted. The entire process took 4-5 months from the time that repairs were completed and I had to be pretty persistent...
 

vapor trail

Member
Sep 9, 2015
238
223
Roseville, CA
Bballuo and snellenr -- Thanks for the information. Good (for all of us) to hear. I've spoken to one company who writes the appraisals for diminished value. He seemed a little pricey: $1,500 for the report. Maybe my expectations are a bit off, but I would expect a report to be much less. If anyone has a reference for a solid company, and you're willing to share, please let me know!
 

legend502

Member
Jan 26, 2018
96
32
California
I used appraisal company as after I was rear ended - St. Lucie appraisals - Frank; report was thorough and was $400; year later I'm still battling - DM claims are getting much more difficult and its a frustrating process. Good luck to you though.


Bballuo and snellenr -- Thanks for the information. Good (for all of us) to hear. I've spoken to one company who writes the appraisals for diminished value. He seemed a little pricey: $1,500 for the report. Maybe my expectations are a bit off, but I would expect a report to be much less. If anyone has a reference for a solid company, and you're willing to share, please let me know![/QUOTE
 
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dvguru

Member
Dec 2, 2013
9
20
Dallas
Last month my basically new 2019 (June build/delivery) performance Raven model S was rear-ended on freeway while commuting home from work. Car has 570 miles. Was in pristine condition. I've posted previously about this accident on this forum.

Checking back in to see if any other Tesla owners have had experience with diminished value claims. If so, please chime in.

Thanks!
 

dvguru

Member
Dec 2, 2013
9
20
Dallas
$125 for a comparable market survey of Tesla sold with versus without collision history. But it takes several weeks to collect the specific data on this make.
We use actual sales data, NO FORMULAS, we're real appraisers, not fake one's who use formula's as there method for calculation dv.
Direct Appraisal has been in business providing online services for DV appraisal's since 1997.
4x6_dummy.jpg
 

FoxSTL2HOU

Member
Nov 12, 2018
495
288
HOU
I used Petty Details for DV appraisal. YMMV on how long it takes - my process involved bad faith negotiations by the insurance company, leading to a lawsuit, with a payout hopefully in the near future (15 months after collision).
 

craigwatson

Member
May 28, 2017
15
1
FL
2017 Model S 90D wirth 57,000 miles
I had someone hit my driver's side front. Needed new bumper, hood. etc but no structural damage. Total repair cost was ~$11,000.
I used St Lucie Appraisal for both Diminished Value and Loss of Use and paid ~$600. When working back and forth three times with the other's driver's insurance (Geico) I finally agreed to $975 for loss of use and $6,000 for diminished vale
 

Rockster

Active Member
Oct 22, 2013
3,010
4,617
McKinney, TX
I used Petty Details for DV appraisal. YMMV on how long it takes - my process involved bad faith negotiations by the insurance company, leading to a lawsuit, with a payout hopefully in the near future (15 months after collision).


I used Petty Details also. It went all the way to small claims court and Justin from Petty Details was our expert witness. He was awesome. The jury ended up finding 100% in our favor. The entire process took a while, but we got our check eventually.
 

jbcarioca

Well-Known Member
Feb 3, 2015
5,458
28,119
A year ago my Performance Model 3 was damaged in an accident five days after I took delivery. The car was from Miami, Florida and the accident happened in New Brunswick. FWIW, the other driver was from Quebec and my car was driven by an Australian. My carrier, Progressive was exceedingly helpful. In the end I droive the car with all its damage back to Miami (long story, but Progressive paid for temporary repairs. At the time there was no body shop within a days driving distance that could repair the damage.

Due to the odd insurance treaty between Quebec and my jurisdiction Progressive paid the entire claim despite transparent documentation that the other driver was clearly at fault with documentation handily provided by the Quebec policemen who was following the culprit at the time.

Progressive paid the entire claim with zero deductible and , at their initiative, paid a diminished value claim of $6,000. Further, my insurance we to be renewed the following month in which I had a reduced premium and another year of 'no claims' benefit. Just how they came to regard all that as 'no claim' I do not quite understand. I was told that the driver of my car was not a fault, I was not driving and the otehr driver was at fault so they chalked it all up to treaty payments, not my history.

Further, the car had major damage and required two new wheels and tires but the alignment was perfect.
 

vapor trail

Member
Sep 9, 2015
238
223
Roseville, CA
Thanks for the additional updates. Some good endorsements for Petty Details.

jbcarioca -- wow, Progressive really came through. That's terrific.

If anyone else has had positive/negative experiences with diminished value/loss of use claims, please add your comments.

I almost think this topic (or something like it) should be a sticky on this forum. Accidents will continue to happen. Having some resources and a realistic perspective on outcomes would be extremely useful.
 
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jbcarioca

Well-Known Member
Feb 3, 2015
5,458
28,119
...If anyone else has had positive/negative experiences with diminished value/loss of use claims, please add your comments.

I almost think this topic (or something like it) should be a sticky on this forum. Accidents will continue to happen. Having some resources and a realistic perspective on outcomes would be extremely useful.
I agree. Obviously the specific jurisdictions and circumstances will make the outcomes inconsistent. Still, the more we know about how the successful outcomes have happened the better off we will be. I had never had a claim before this one and had no idea how to approach the process. Thus I was lucky.

A related topic that might be included is body shop information, specifically including Tesla’s own shops. Thus I suspect we might include the entire collision repair topic as well as diminished value.
 

vapor trail

Member
Sep 9, 2015
238
223
Roseville, CA
Agreed. My car is currently in one of the only Tesla certified shops in the area. They have ~45(!) additional Teslas currently there along with mine. They do great work, but clearly can't keep up with demand.
 

MyWifeandI

Member
Oct 31, 2014
43
11
Phoenix
2017 Model S 90D wirth 57,000 miles
I had someone hit my driver's side front. Needed new bumper, hood. etc but no structural damage. Total repair cost was ~$11,000.
I used St Lucie Appraisal for both Diminished Value and Loss of Use and paid ~$600. When working back and forth three times with the other's driver's insurance (Geico) I finally agreed to $975 for loss of use and $6,000 for diminished vale

St. Lucie was one of the first independents that was preparing diminished value and loss of use reports for Teslas from day 1. Probably hundreds of them in the database. Results count!
 

STLUCIE

Member
Mar 17, 2020
15
7
Fort Pierce, FL
I used appraisal company as after I was rear ended - St. Lucie appraisals - Frank; report was thorough and was $400; year later I'm still battling - DM claims are getting much more difficult and its a frustrating process. Good luck to you though.
We have just joined the TMC forums and are so happy to read the positive reviews and recommendations. Thank you. And all who have questions are invited to call and ask.
 

jjanov79

Member
Sep 27, 2017
66
36
Austin, TX
I'm currently trying to negotiate diminished value for a rear quarter panel replacement which ended up being just over $14k in repairs. I hired Direct Appraisal to furnish a report and they came up with $11,800 which I submitted to Farmers. They countered at $6,000 referencing NADA auction values which doesn't seem like a relevant source as I can't just up and auction off my car tomorrow. Any advice?
 

STLUCIE

Member
Mar 17, 2020
15
7
Fort Pierce, FL
Get a second independent appraisal. Cheaper than an attorney (which you may still eventually need). Your car had structural damage so it has lost about 40% of it's pre-accident trade-in value. Make sure the appraiser does not use a formula or algorithm. Also, steer clear of appraisers that say they contacted dealers but don't list their names and to whom they spoke. If you don't present irrefutable proof ( and sometimes, even when you do) the insurance company will simply force you to sue them in order to receive a fair settlement..
 

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