Diminished Value in NY

[thelastdeadmouse]

Car got hit in a parking lot today, someone tried to cut the corner too close. From the outside it looks like the damage is limited to the bumper, rear quarter panel, and slightly to the tail light, not sure is there's any damage beneath the outer skin. The person stuck around and admitted fault, working with their insurance. I'm planning to file for diminished value, I know it can be a real pain but the idea that it'll help me pay off the car in some small way helps cancel out some of the disappointment.

Just wondering if any other New Yorkers have been through this and if you have any advice. I'm also curious to hear what people think is a fail diminished value for this type of damage. I know its minor as far as accidents go, but the fact that there's any accident at all on the vehicle history report hurts value.

 

[mmccord]

Car got hit in a parking lot today, someone tried to cut the corner too close. From the outside it looks like the damage is limited to the bumper, rear quarter panel, and slightly to the tail light, not sure is there's any damage beneath the outer skin. The person stuck around and admitted fault, working with their insurance. I'm planning to file for diminished value, I know it can be a real pain but the idea that it'll help me pay off the car in some small way helps cancel out some of the disappointment.

Just wondering if any other New Yorkers have been through this and if you have any advice. I'm also curious to hear what people think is a fail diminished value for this type of damage. I know its minor as far as accidents go, but the fact that there's any accident at all on the vehicle history report hurts value.

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How old/how many miles? Mine took less QP damage on a similar hit. Car was 4 months old. Got 10k DV for it.

 

[MP3Mike]

I'll be interested to hear what the repair cost is, but my guess is $14k. (rear quarter panel damage on a Tesla is really expensive to repair.)

 

[thelastdeadmouse]

How old/how many miles? Mine took less QP damage on a similar hit. Car was 4 months old. Got 10k DV for it.

The car is a 2018 3 Performance, just under 39k miles.

 

[thelastdeadmouse]

I'll be interested to hear what the repair cost is, but my guess is $14k. (rear quarter panel damage on a Tesla is really expensive to repair.)

I'll post when I find out. I already had a service appointment for a suspension squeak next Monday, so I'm hoping I can just leave the car there and either get a loaner from Tesla or through the insurance company.

 

[thelastdeadmouse]

I'll be interested to hear what the repair cost is, but my guess is $14k. (rear quarter panel damage on a Tesla is really expensive to repair.)

I got the quote, $7,100 and change from the Tesla approved body shop. The quote isn't super easy to decipher, but I believe the damage ended up being minor enough that they're going to repair the existing quarter panel instead of having to replace it, which I'm sure is saving a ton of cost. I'm not a body work expert by any means, but its bent in slightly on the bottom right but there doesn't appear to be aren't any wrinkles or creases.

 

[1windy]

Just came across this thread. Diminished value is not available to NY ers. Had a '19 Audi Q8 with 400 miles on it. Idiot made an illegal U turn just after I passed him, never saw him just felt the hit. $15K in damages and no ability to sue for DV. Police report filed caused the carfax hit. Some body shops also report it to Carfax and make a commission on it. I contacted an ATTY who specializes in this and he broke the bad news.

 

[mmccord]

Just came across this thread. Diminished value is not available to NY ers. Had a '19 Audi Q8 with 400 miles on it. Idiot made an illegal U turn just after I passed him, never saw him just felt the hit. $15K in damages and no ability to sue for DV. Police report filed caused the carfax hit. Some body shops also report it to Carfax and make a commission on it. I contacted an ATTY who specializes in this and he broke the bad news.

Don't know the details of your case, but DV is available in every state. NY is no exception.

 

[1windy]

Like I said an attorney who specializes in the practice told point blank not available to me. The only reason he called me back was I left message and didn't offer details. Said if the accident was in NJ I definitely had a case.

 

[1windy]

Diminished car value insurance claim? Geico in NY. : Insurance

Something about it being specifically excluded from ny policies maybe.
All i know is it sucks. I got screwed from the idiot who hit me. Although I was made whole when they repurchased my car.

 

[mmccord]

Their insurance covers their liability. If you are filing with your own insurance (like a hit & run, or hit by an uninsured person), then DV is not generally possible (I think only one state allows this). But generally, you should have no problem collecting DV in NY. I got 10k for the dude who hit my rear QP in NY. Both NY drivers and the incident happened in NY.

That guy on reddit doesn't know who hit him, so he's SOL.

 

[Nick H]

Their insurance covers their liability. If you are filing with your own insurance (like a hit & run, or hit by an uninsured person), then DV is not generally possible (I think only one state allows this). But generally, you should have no problem collecting DV in NY. I got 10k for the dude who hit my rear QP in NY. Both NY drivers and the incident happened in NY.

That guy on reddit doesn't know who hit him, so he's SOL.

Sorry for the late post on this thread Mike, been looking everywhere for someone with experience with DV in NY. I've been calling lawyers for 6 months now, to no avail. How did you go about getting the settlement? State Farm flat out turned down any amount....zero. They never even negotiated, they just closed the claim. I paid for a DV report (St Lucie) and it is about $20k in DV. I'm near Buffalo if that matters. Thanks!

 

[mmccord]

Sorry for the late post on this thread Mike, been looking everywhere for someone with experience with DV in NY. I've been calling lawyers for 6 months now, to no avail. How did you go about getting the settlement? State Farm flat out turned down any amount....zero. They never even negotiated, they just closed the claim. I paid for a DV report (St Lucie) and it is about $20k in DV. I'm near Buffalo if that matters. Thanks!

They straight-up denied my first attempt too. Then offered something stupid like $100. My DV guy was great and essentially wrote each letter for me to send to them. Your DV appraiser hasn't been involved with the negotiations?

Insurance companies don't get to decide what their client is liable for, courts do. Just threaten to sue (or just file a suit against) their client.

 

[Nick H]

They straight-up denied my first attempt too. Then offered something stupid like $100. My DV guy was great and essentially wrote each letter for me to send to them. Your DV appraiser hasn't been involved with the negotiations?

Insurance companies don't get to decide what their client is liable for, courts do. Just threaten to sue (or just file a suit against) their client.

No, all they did was suggest I get an attorney and they have had zero contact with the insurance company. The site I used was autodiminishedvalue.com, which is St. Lucie Appraisal company (They looked reputable, but now I'm wondering!). I've emailed them twice over the last few weeks, but no answer. Basically, if I can't get the lost $20k+ back from the insurance company, the last thing I want is to waste $350 on their report! Did you get a lawyer to negotiate, or did they take the threat of suing as a time to start negotiating. I even spoke with the supervisor originally from State Farm, and they said there was case law that they were using, and they didn't feel DV was a real thing here in NY. Load of crap of course! Suggestions?

 

[mmccord]

No, all they did was suggest I get an attorney and they have had zero contact with the insurance company. The site I used was autodiminishedvalue.com, which is St. Lucie Appraisal company (They looked reputable, but now I'm wondering!). I've emailed them twice over the last few weeks, but no answer. Basically, if I can't get the lost $20k+ back from the insurance company, the last thing I want is to waste $350 on their report! Did you get a lawyer to negotiate, or did they take the threat of suing as a time to start negotiating. I even spoke with the supervisor originally from State Farm, and they said there was case law that they were using, and they didn't feel DV was a real thing here in NY. Load of crap of course! Suggestions?

I used Petty Details - Diminished Value Experts and honestly, given what your claim should be worth, it might be worthwhile to pay another $350. Getting a lawyer is an option too, but likely much more costly.

Justin and Jen Petty were very responsive and helpful throughout the whole process.

 

[STLUCIE]

I was just made aware of this post and called Nick to explain that we never did see an email from him. Any Tesla owner who has hired us can attest to the fact that we are responsive. I was also glad to hear that this case is ongoing and hope that a positive result is attained.

 

[TMYB-C1]

My 2021 MY w/ 19k miles was rear ended yesterday, drives fine except for the rear lift gate sounding like it's bouncing when driving on bumpy roads. Luckily it happened near my local SC so I was able to go there immediately after for a quick look over and safety check.

- Police told me they don't take reports for minor accidents and to do so directly with the DMV.

- I and the person at fault both have GEICO, opened a claim yesterday, the other driver was contacted immediately and acknowledged full liability

- Next steps are to wait for the claims adjuster to look at the uploaded pictures of the damage, but I'm also headed to a Tesla certified body shop to get their opinion

- I am going to want to go through the DV process, will I need a police or DMV accident report or is the insurance claim enough? Any tips on how to smooth the process?