by sphillip » Thu Mar 29, 2012 12:13 pm
My car was estimated to have $5900 worth in hail damages yesterday by my insuranca company. I have a 2012 mustang- what is the estimated diminished value of my car- which was in exellent condition before the storm.
thanks
thanks
Posted: Thu Mar 29, 2012 01:19 pm Post Subject:
No way to tell you. You haven't said how many miles are on the vehicle, accessories, equipment, etc, or what similar undamaged vehicles are worth in your community. If the repairs would result in your vehicle not being worth as much as an undamaged vehicle of the same specifications and mileage, that is your "diminished value" claim. If the repairs make your vehicle worth more, then you'll have to pay the difference back to the insurance company (NOT).
Posted: Thu Mar 29, 2012 01:26 pm Post Subject:
my car has 5500 miles - bought it in october 2011.
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