Hello Helpers, I have been reading through some of the comments here, and understand that the DV (Diminished Value) claim is not straight forward as the Insurance Companies are bitches!
I live in Ohio and have a Lexus ES 2009, 84K miles, which was recently rear-ended (in Ohio) with cracked bumper and possibly some "bending" of the exhaust pipe. Bring it to the Lexus dealer, and the repair cost was estimated over $2K. But the Insurance switched out the bumper replacement to using a Replacement Part instead of original Lexus part, claiming any car over 5 years and not current mode. So it would not get OEM part. Hence the repair would now come down to less than $1500.
By Kelly Blue Book Estimates, pre-accident trade in value ranges from 11K to $13K based on varying conditions, and private sale is about $13K.
Appreciate if you can shed some lights on the following:
1) Is the adjuster right about using the replacement part for my OEM part?! I mean, I am a victim here, and I see that the Ins is making fxcking excuses to avoid doing the right thing!
2) About the DV claims. Based on the 17C formula, with based value of 10% of Vehicle, what is the proper "Damage Multiplier" should be used? After all those stupids and flaw multipliers, I guess I would be lucky to see $300 DV claim.
Or you think I should go to the trouble of hiring an expert in assessing the DV? How much would that be?
3) Due to various phone calls, and sending car in for repair estimates, these have taken hours of my time. Shouldn't the Ins reimburse my time?
I mean, I am a victim in this accident, yet at the end, I wasted hours of my time + getting a lousy replacement part + loss of DV of car. Feel like Ins company is rubbing salt into wound.
Thanks
Sean
I live in Ohio and have a Lexus ES 2009, 84K miles, which was recently rear-ended (in Ohio) with cracked bumper and possibly some "bending" of the exhaust pipe. Bring it to the Lexus dealer, and the repair cost was estimated over $2K. But the Insurance switched out the bumper replacement to using a Replacement Part instead of original Lexus part, claiming any car over 5 years and not current mode. So it would not get OEM part. Hence the repair would now come down to less than $1500.
By Kelly Blue Book Estimates, pre-accident trade in value ranges from 11K to $13K based on varying conditions, and private sale is about $13K.
Appreciate if you can shed some lights on the following:
1) Is the adjuster right about using the replacement part for my OEM part?! I mean, I am a victim here, and I see that the Ins is making fxcking excuses to avoid doing the right thing!
2) About the DV claims. Based on the 17C formula, with based value of 10% of Vehicle, what is the proper "Damage Multiplier" should be used? After all those stupids and flaw multipliers, I guess I would be lucky to see $300 DV claim.
Or you think I should go to the trouble of hiring an expert in assessing the DV? How much would that be?
3) Due to various phone calls, and sending car in for repair estimates, these have taken hours of my time. Shouldn't the Ins reimburse my time?
I mean, I am a victim in this accident, yet at the end, I wasted hours of my time + getting a lousy replacement part + loss of DV of car. Feel like Ins company is rubbing salt into wound.
Thanks
Sean