| Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n |
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10-05-2009, 08:54 PM
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#1
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RS has made me the bitter person i am today!
Join Date: Aug 2005
Location: Canada
Posts: 4,564
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Diminished value claim
so long story short.. was driving my bmw x5 and got rearended.. dunno how much repairs gonna cost yet but probably in the 4-5k range. so now the trade in value for the car is gonna worth sh!t.. so wondering can you make a diminished value claim on your vehicle? if so what are the steps required?
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10-05-2009, 09:16 PM
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#2
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Diagonally parked in a parallel universe
Join Date: Jun 2002
Location: Langley
Posts: 1,438
Thanked 116 Times in 39 Posts
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there is a special policy you can buy direct from your insurance broker... but I've seldom ever seen one or heard of anyone coming out a head of this scenario
I recently did a $20,000 repair on an older guys brand new Camry - literally - it had 1200k on it and he was rear ended by a cop car. He got nothing.
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10-06-2009, 12:15 AM
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#3
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I *heart* Revscene.net very Muchie
Join Date: May 2001
Location: Burnaby, BC
Posts: 3,564
Thanked 330 Times in 163 Posts
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If it's a new car, in the first three years of it's insured life, you can get replacement value insurance from ICBC. But you have to write the car off...
Claim for future depreciation from an accident that didn't write it off? ICBC won't touch it. You'd have to sue them, and the cost of that ain't worth the fuck-all you'll get out of ICBC.
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Don't be the next RS.net statistic - If you drink, don't drive. You'll lose your licence, and the rest of us will laugh at you.
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10-06-2009, 07:30 AM
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#4
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Witness protection
Join Date: Apr 2001
Location: GVRD
Posts: 14,427
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awhile back my dad's old car was rear ended, causing almost $8-10k in damage. it was less than 1 year new at the time. he had the new car/limited depreciation/whatever they call it coverage from icbc. icbc would not write it off, but would pay for new oem parts, no jobber or used parts. but when it came time to trade it in, the dealer knocked off $2k from the value the second they saw the damage on the history check 
Last edited by thumper; 10-06-2009 at 09:57 AM.
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10-06-2009, 09:06 AM
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#5
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How I Mod your mother
Join Date: Jul 2004
Location: Crayon Box
Posts: 13,688
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Quote:
Originally Posted by shantz
there is a special policy you can buy direct from your insurance broker... but I've seldom ever seen one or heard of anyone coming out a head of this scenario
I recently did a $20,000 repair on an older guys brand new Camry - literally - it had 1200k on it and he was rear ended by a cop car. He got nothing.
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Rear ended by a COP?!
WOW, way to enforce road safety guiz
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[19-07, 16:54] El Bastardo: bm i have no idea what you're talking about because i don't speak gorilla
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10-07-2009, 08:30 AM
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#6
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My dinner reheated before my turbo spooled
Join Date: Oct 2002
Location: vancouver
Posts: 1,766
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nothing you can do
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10-07-2009, 10:59 AM
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#7
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I *heart* Revscene.net very Muchie
Join Date: Dec 2007
Location: Shanghai
Posts: 3,586
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99% chance of you getting nothing if u claim for that, even with the help of a lawyer. so dont waste ur time
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yolo
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