I have been offered $500 on $3000 worth of damage on a diminshed value claim. Is this fair for a 05 Durango?
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I have been offered $500 on $3000 worth of damage on a diminshed value claim. Is this fair for a 05 Durango?
 
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andrew d
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Not at all! Go to court. |
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CwboyBill
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Only one other person that answered knows what the hell she is talking about. Pal, $500 DV on a $3000 loss is a gift and you better grab it and run before the adjuster realizes he/she goofed big fashion. You are NOT entitled to the cost of repairs for DV, frame damage does NOT matter, a lawyer will take the $500 plus another $2000 out of your pocket. Kidding aside, $500 is a very good offer so grab it while you can. |
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abitawm
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I am glad there are some people that know what they are talking about here. As the last 2 posts state $500 dim value on a 3K claim is a pure gift. If this is a negotiated offer past after after an initial offer the insurance company has the right to recind their offer.
As far as court decisions go
Dim value decisions vary even in the same jurisdictions and the verdict is not out as to if owed, how much owed, when owed.
We could go into the type of repairs done, parts used, ect but in most cases this amount offered vs the actual cost of repairs is a real gift like the last 2 post already said |
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Queen B
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it sounds unfair, but you are LUCKY to be getting that! Take it because you will NOT get more. Its hard to get DV at all and a lawyer is NOT going to be able to get you more. |
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hopefultobe
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Sounds fair if the frame isn't damaged. Most places won't even pay diminished value. Your lucky! Sounds like little damage was done that wont effect too much on the value of the car... (Diminished value is what insurance company pays on top of your repair cost to cover the lack in value of the car due to the wreck) |
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la428282
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clearly no one whos answered so far knows what they are talking about.
They are all people who randomly saw this question and know nothing about insurance and thought you meant getting 500 dollars ONLY for 3k worth of damage.
I can tell you with absolute certainty that you are LUCKY to get that much in diminished value on a 3k claim.
Take the money and run! you have absolutely NO CHANCE of getting any more then that. How on earth much did you expect? 3k is a pretty light hit. |
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Randy W
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Allot of this depends on the actual damage, and what the diminshed value is based on. I would get a lawyer invovled, if the difference is that much it's worth tossing him $500 and getting the other $2500. |
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scottcowdrey
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no...tell who offered you this you spoke to an attorny and that amount is unacceptable. |
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★ Ðяєäмíŋg Ôυт Łøυ∂ ♥
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No! |
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Massive Mann
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H3LL NO....Get the full amount to repair or go to court...That's what insurance is for. |
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MISS-MARY
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NO! Fix it or pay the price for the fix. That is not a good deal at all, they are trying to get rid of you fast! Don't settle, get it all. |
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W H
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no its is NOT.
I work in the automotive insurance industry and ( without saying which)., want to tell you that this practice is becoming more common. Do NOT accept! |
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