Part 2: How do I determine a diminution in value claim

[pbs911]

Thanks for the responses to my post of last week. My 78SC was rear ended. Now it's time to negotiate with the insurance company. My car was previously accident free. I want the diminuation in value to compensate for the stigma my car will now hold if it is ever up for sale.

Where can I find this info? Thanks.

[gadams]

you can find the legal definition in Blacks Law Dictionary, Not that an insurance company follows the law. The simplest way is to determine the value of the car prior to the accident and then have someone price what the car is worth wrecked.

You can use KBB, NADA, CPI, ebay and others to determine the value of the
car prior to the accident


example:

prior to wreck car worth 10k
car wreck worth 5k
diminished value 5k


if you have already had you car repaired this becomes a trickier process. You should take it to Porsche dealer and have them put in writing what the value of the car. Then use that number subtracted from the values determined from the above sources.

If you need more info let me know I just went through this process on my lexus.

[Brian993]

Paul -

I hate to say it but I think you are going to be disappointed with this. Unless you had an appraisal done prior to this car being in an accident the book value on your car is pretty low now and I wouldnt expect the insurance company to start doleing out thousand to make up for it.