I bought a new car and I got into an accident. Do I get compensated for the depreciation of the car?
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I bought a new car and I got into an accident. Do I get compensated for the depreciation of the car?
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I bought the car in march and in april I got an accident (not my fault, the other party accepted responsability) the car has lost a lot of value due to the accident. Can I be compensated for that depreciation by the insurance company?
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fire4511
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Yes you can, but you will have to fight for it. You may want to get an expert opinion on the amount of the loss of value. A car that has been damaged ( even if it is repaired, will have less value than an undamaged vehicle. This is the concept that CARFAX promotes.
You may need to contact a lawyer. |
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malibu29130
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gap insurance is wonderful. if you still owe on on your vehicle it covers what you have left. that is the best way to go. but as far the depreciation, i guess u lose that. |
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Infinity606
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it depends on the state. certain states allow it, others bar it. contact your agent, they should find out for you & let you know if you can try for it, then you need to get an estimate and advise the other company you are seeking depreciation and they will tell you what their procedures are. if you are able to file for it (per your agent) & the other company tries to tell you no, contact your state's department of insurance & get their assistance in working with that insurance company. it's their job to regulate all insurance companies & make sure they are complying with state law. |
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daesvenge
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I got compensated. I had to argue with the other partys insurance company but I got a check in the mail for the depreciation. |
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jose_valle76
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sorry, you don't cars lose value really quick,as soon as you take it of the lot!good luck! |
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trayci_89
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It depends on if you bought the GAP Insurance when you bought the car. |
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lilmija424
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depends wut type of insurance u had |
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eddie
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i have just had accident in my new car 5 weeks old 441 miles on the clock. (not my fault, the other party accepted responsability) there has been a lot of damage, have i the right to demand a new car and not the repaired one ? |
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