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Originally Posted by lorinzo
This is WRONG, WRONG, and WRONG! This is coming from an agent for a company that does not want to pay you what you are entitled.
You cannot collect from your OWN insurance company, in most instances, diminished value claims are excluded.
However, if some other person causes damage to your car and the repairs DO NOT restore the car to its pre-damaged value, then, the other driver (and their insurance company) is required to compensate you for ALL damages. (California Civil Code section 3333; Merchant Shippers Assn. v. Kellogg Express & Draying Co. (1946) 28 C.2d 594)
There is no requirement that the damage must be "major" or involve "structural damage." There is no requirement that your car be "totaled." There is no requirement that you sell your car.
You are going to have to fight for your diminished value claim. There is no established formula. You will likely need to hire an automotive expert. The more minor the damage, the more difficult it will be to prove that you will suffer diminished value.
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Originally Posted by DiamondGCoupe
Let me save you the time. I am an insurance agent, and pursued a similar claim for my E92 M3, in CA against Allstate AND Progressive.
CA law doesn't require an insurer to pay a diminished value. If the structure of you car was not damaged etc, you really have no claim whatsoever. You can Google, call, email as much as you want, you're not entitled to it (by CA law), you'll have a hard time proving actual diminished value until you sell the car. Long story, don't lose sleep over it. It happens to us all, it happened to me, you won't get a dime unless there is major structural damage and your vehicle was totaled or something along those lines. Exactly why I leased my new M4, if nothing happens I may buy it but if there's an accident not my problem now.
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Yes, I agree with you, but in my case, I don't know who the third party was so I had to use my own insurance, therefore, no claim was possible.