Diminshed Value Claims
Ok folks, our first time here, so will try our best. We recently suffered some damage to our coach, from an 18 wheeler reversing into us, whilst stopped to fuel up!!! So, we had repairs completed...
Forum Discussion
4x4van wrote:
The whole idea of "diminished value" payout is, IMO, nothing more than trying to get more money than is legitimately owed. Accidents shouldn't result in a windfall, only in being made "whole".
Yes, I know, many of you are arguing that the vehicle, even if fixed, is now worth less, so they are no longer "whole". To that I would simply say: who decides how much less than "whole"? It is so subjective as to be almost a ****-shoot shot in the dark, nothing more. Perhaps for a nearly new vehicle, DV could come into play, but as the vehicle gets older, there are much more important issues that determine value. So should the person who receives a DV payout be required to return a portion of that payout each year until the age/condition of the vehicle become the deciding factor and the "loss" is no longer significant/relevant?
Maybe I'm from a different generation/mindset, but DV just smells like a scam for more money. YMMV.
If you are offered DV due to a loss, you can TURN THE MONEY DOWN and maybe it will make you feel better. :R
