by duke54 » Tue Jun 12, 2012 05:05 pm
Hello,
I do have a Honda Civic 2008 and I have been in a car accident a week ago. Cost of reparation is around $8000 and is gonna take 3 weeks.
Right now my car is still at the body shop and they did not start working on it yet.
I am very worried about the loss of value of my car. What should I do and when?
The insurance paying for the repair is State Farm and I am in Florida. Are they entitled to pay for the loss of value?
Thanks
I do have a Honda Civic 2008 and I have been in a car accident a week ago. Cost of reparation is around $8000 and is gonna take 3 weeks.
Right now my car is still at the body shop and they did not start working on it yet.
I am very worried about the loss of value of my car. What should I do and when?
The insurance paying for the repair is State Farm and I am in Florida. Are they entitled to pay for the loss of value?
Thanks
Posted: Thu Jun 14, 2012 03:34 pm Post Subject:
I am very worried about the loss of value of my car.
Why are you worried about this? Were you planning on selling the vehicle anytime soon? What do you believe is the basis of your diminished value?
A 2008 Honda Civic EX has an average value of about $16,000. To obtain a diminished value claim, you would have to demonstrate that your vehicle is now worth considerably less than that.
Right now my car is still at the body shop and they did not start working on it yet.
There is nothing unusual about this. Most repair shops wait until they have the repair parts on hand to begin the necessary work. They also need to finish the jobs they started ahead of yours. FIFO is the general rule.
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