Diminished Value?

[MosFed]

Hello all,

I was in an accident just before Christmas. The insurance company of the driver at fault offered me 950 Euros, roughly $1,030, for the diminished value of my car.

My question is: Is this enough? The rear sub frame on my car has to be replaced, and with all other damages the price came out to 5,000 euros. I used NADA to find the clean value of my car to be $40,975.

40975 / 10 = 4,095, then multiplied by .75 for the fact that I suffered frame damage = $3,071.25 in lost value (insurance's way).

I'm an American living in Germany, so I'm not sure if I can even claim more or how to do it. If anyone can help me out, that would be greatly appreciated.

[fhwang]

Don't they have attorneys that specialize in auto accidents available there? That amount they offered is ridiculous!

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[MosFed]

Don't they have attorneys that specialize in auto accidents available there? That amount they offered is ridiculous!

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Yes, and that's what my attorney told me.

[MosFed]

Although, he made it sound as if he got that from the body shop, and that he's not actually talking to the insurance company himself. I'm going to talk with him when I take my car there in a couple of hours.

[coolwater]

With frame damage I'd expect 25% diminished value. So 10k on a 40k car. Mod money right there!

-cW

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[markn1689]

got pics of the damage?

[MosFed]

So after a visit with the body shop I discovered that the actual price of the parts were around 2500 euro. That, and it wasn't actually the frame, it was the bumper frame that was damaged. I believe the language barrier was the largest issue there.

[sliner32]

In Canada correct me if I'm wrong but we don't get diminished value for insurance purposes. I feel we definitely should. I just sold my 2011 s4 couple of months ago but had a bitch of a time selling it because it had been involved in two accidents were individuals backed into me while stopped. I had to lower the price substantially