Accident-need diminished value expert

[JPahlow]

Has anyone been through this, we got hit their insurance is a reputable company, however they are low balling us. We are getting an estimate from Airstream to counter, but does anyone know where we can find a diminished value expert for Airstreams?

[ROBERT CROSS]

I would....

Get the quote from the Jackson Center repair facility. Quality photos will be needed.

Good Luck...👍

Bob
🇺🇸

[Coloradobus]

Show the “perps” insurance company comparable selling prices from this and other websites
Also go nada.com for more value. Quick look i found 2005 30 (M30) base price retail is $60,000. The insurance is going to cringe at any price. Remind them, its the market. Airstreams are HOT!

[richard5933]

When this happened to my Subaru, I was able to get a dealer to write a quote for trade-in value after the accident. They wrote it with a line deducting value for the previous damages, even though they had been repaired. Took a bit of doing to find a dealer willing to put that in writing.

One the insurance company had the written evidence, they were much easier to deal with.

[JPahlow]

Originally Posted by Coloradobus

Show the “perps” insurance company comparable selling prices from this and other websites
Also go nada.com for more value. Quick look i found 2005 30 (M30) base price retail is $60,000. The insurance is going to cringe at any price. Remind them, its the market. Airstreams are HOT!

I told them about that. I guess I have to take screenshots and include that?

[JPahlow]

Originally Posted by ROBERT CROSS

I would....

Get the quote from the Jackson Center repair facility. Quality photos will be needed.

Good Luck...👍

Bob
🇺🇸

I’m wondering about diminished value for resale, not repairs

[ROBERT CROSS]

Originally Posted by JPahlow

I’m wondering about diminished value for resale, not repairs

Well, just subtract the repair cost....no?

Bob
🇺🇸

[SuperTrouper]

I dunno, in my experience its always best to take the claim to your insurance company and let them battle on your behalf with the perp's. When someone backed into me, my insurance (Progressive) assigned a estimator familiar with Airstreams and the final outcome was positive. If that's not possible, I agree with Bob to get a repair estimate from JC. - Brad

[GetawA-S]

Jpahlow,
I hate to say it, but you are swimming upstream here. Insurance adjusters’ job performance is based on what they don’t pay out. Some of the “reputable “ companies are the absolute worst in this respect. With the state legislatures in their pockets, they are only obligated to provide the most basic repairs.
“Diminished value? Tell me another good one!”
Thirty years ago, the phrase “Make me whole” was not met with derision, and buyers weren’t able to wave a Carfax report to knock the price down. I’m not saying you shouldn’t try to get a settlement that reflects your material loss , but you may need to involve a lawyer to do so.
Or, as Souper Trouper suggested, let your own company fight the battle (which is what has worked best for us).
Or you can be philosophical and enjoy your repaired trailer, while putting off concerns about resale price until the time comes. Whatever you do, don’t let it eat at your mental health.
I hope there were no physical injuries associated with this incident. All the best to you!

[TRIPPPIN]

I had a car rental company and dealt with diminished value claims. The bottom line is they don't pay for that in my experience if you keep the unit. They won't predict what the value difference is because it is in the future. You did not say if it is a write off. Your best option is if it is repairable is to fix it right and sell it immediately. If you cannot get what it is worth you now have a claim for diminished value. You must find similar year make models in the same condition and provide proof. RV trader, Airstream classifieds, NADA Airstream delaers etc, are a source of proof. Get your evidence together now and put in writing your case with supporting documents and make them aware of your intention to sell it and make a claim for the difference. You may find in the end that selling it in a sellers market will not result in a diminished value at all. Good Luck.

[Gkiesel]

try James Polk. He is a reputable appraiser of Airstreams, Vintage and antique cars etc.
maybe he can help. Maybe not
James Polk, (805)-646-7293
Good Luck.

[ROBERT CROSS]

The ad in the classifieds is marked sold, is it?

Bob
🇺🇸

[JPahlow]

Oh, we sold the 2005 in March 2020, it was our 2016 that was hit.

[richard5933]

Diminished value payment is something that will vary greatly from state to state. In some states the insurance company is only responsible for repairing the vehicle or for paying the market value. In other states, there are better protections designed to make the owner whole after the incident.

Here in Wisconsin there is case law which can be used to force an insurance company to provide compensation for diminished value after an accident. No matter how well the repair is done, the vehicle will be worth less due to the fact that there is an accident in its history. Actually getting the insurer to pay, however, is a whole other issue.

First thing I had to do was specifically mention in writing the case law which required the compensation. Next was to provide them with something in writing which clearly demonstrated how much my car would have been worth had the accident not occurred and how much is was actually worth since it had.

With my Subaru it was slightly easier, since they have a guaranteed buy back program (or did at the time my accident happened). The car sales manager was able to give me a print out showing the guaranteed amount he'd authorize the dealership to pay based on my car's equipment, etc. Then he gave me another quote showing the ding the value took as a direct result of having this accident in its history. The difference between the two was the number I demanded from the insurance company (and eventually got).

To succeed with a diminished value claim, you have to first live in a state where it's possible to file such a claim. Then you have to have definitive evidence of the loss in value.

You could probably find a certified vehicle appraiser to issue a valuation but you might not win much in the end, depending on how much you have to pay the appraiser to do the work.

[SilverPal]

We are happy to help! As a certified senior member of the American Society of Appraisers, we work with insurance companies on diminished value claims. Assuming the damage is less than 60% of the value? Give us a call at 805.646.7293 and let's discuss your concerns.

[jimfa440]

Originally Posted by JPahlow

Has anyone been through this, we got hit their insurance is a reputable company, however they are low balling us. We are getting an estimate from Airstream to counter, but does anyone know where we can find a diminished value expert for Airstreams?

Diminished value was established in a Georgia court of law. This formula can be found on the internet. Just ask Google. I was hit while camping in Myrtle Beach last spring. My TV was damaged, thank goodness it was not my Airstream. The lady was insured by Allstate, that scared me to death. Allstate did step up and they paid for everything. I was concerned about how the future value would be impacted. I found this formula on the internet. I calculated the diminished value to be about $3700. Allstate must have used the same formula, they offered me $3744. I'm not sure if it will be the same on Airstreams, but I don't know why it would not apply. Good luck.

[flyfshrmn]

I would not let my insurance company do any negotiation with the other party's insurance. It's been my experience that some companies trade off similar claims against each other and screw the customer in the process. There are several references here for obtaining good estimates. If the other party's insurance keeps lowballing you, I would offer to sue them and their customer for the remaining damages. A lot of this is dependent on your state's insurance laws.

[Tralien]

How is your insurance provider involved in this process?

[JPahlow]

They aren’t. The truck driver was at fault so we are working with their insurance.
The Hartford. Even though not our fault in order to use Geico we have a$500 deductible. We have the money, but why should we have to pay when we were
Not at fault???

[JPahlow]

No interest for lawyers because no one was hurt