Mat Indukts Lambos

Long story short, neighbor backed into my motorcycle. Is there some documented path I can take with this? A "diminished value claim for dummies" book? I STFA'd a little, but don't have too much free time at work.

FWIW, her car will cost quite a bit to repair, maybe more than the motorcycle even(acura TL, needs a new trunklid). She openly told me she's a bad driver, and makes me wonder about that warped deck post we had replaced when we moved in....

FixedWing

That makes it difficult to argue because it is for you to prove the facts. You would probably do this with expert testimony or other lucid arguments as to why the bike will not be worth as much as it was even after it is fixed.

Expect the insurer to resist. They hate these claims.

I doubt you will find much. A little searching on the internet will turn up some explinations of what it is.

As for the law, I don't think it is that difficult. If you can prove that you have been damaged then you should get it. The insurer stands in her shoes and you should be able to get anything from them that you could claim in court from her. It is the proving it that is the hard part.

Stephen

TwinTurboTerror

Usually you just get compensated for the cost of repair, unless the item is inherently unique (like an antique or something).

TwinTurboTerror

viable theory for real property (i.e. real estate). There wasn't even a specific entry for chattel (i.e. non-real estate).

85-4kq-girl

There are statutes out there covering vehicles. You have to dig.

TwinTurboTerror

and related issues. (See Va. Code Ann. § 46.2-1600)

The Code doesn't give owners an independent right of action for diminished value.

I suppose I could look up case law too... on my next bar review break.

drbob_1

From my experience: I was paid diminished value (by Geico) on my car after an accident ~ 4 years ago, so I can talk from experience not conjecture. If it's a claim under your collision you will have a harder time collecting, but FYI the insurance companies lost a big suit about automobile diminished value a few years ago. If it's a liability claim, then they are legally required to make things whole again including diminished value. No matter how good the repair was, a professional can always tell. I don't know about where to get it appraised for diminished value if it's a motorcycle. But, you live in the right area. For a car try Reed Apraisers 301-946-6116.
Warning: don't use Auto Body Clinic. Just had my car re-repaired after they worked on it 18 months ago. Cost the insurance company almost 12K to refix the original 5200 repair by them.

TwinTurboTerror

BMW was held liable for the diminished value of the repainted cars they sold as new.

Not aware of a major insurance company case on diminished value.

It's news to me that ins. co.s are routinely paying diminished value for any collision claims. I don't understand how that works. Usually if your car is not totalled, they cut a check to the repair shop. They don't issue you a separate check for diminished value.

drbob_1

No, I believe the case involved an appeal against State Farm, but it's been too long and I don't remember the details. I paid $75 for them to appraise my car and give me a report for diminishewd value and then I submitted it to Geico. I was paid the appraisal between $300-400, though they wouldn't pay for the appraisal itself. I did have to push them as they refused the first time. Geico is not easy. This is standard practice for all insurance companies. They refuse first and hope they can get away with not paying by stonewalling and refusals. At least 1/3 of the people just believe them and accept the refusals.

Mat Indukts Lambos

write seperate appraisals, and compare what the bike should sell for vs what it is now, after having been hit/knocked over? Maybe that, and taking into consideration the KBB values?

Thanks for everyone's input!

I was aware that the insurance company would resist, & am fully prepared for it. ;-)