[dsgti]

I hit a powerline pole and it didn't budge at all, i'm fine, but the car is sick in the shop tho.

The worst part of the damage is that the front driver's side frame is bent a little. The insurance company is going to fix it and the bodyshop that I took it to has won numerous awards (Bodyshop of the year in the US in 1995, and they're factory authorized for Mercedes-Benz, Jaguar, Range Rover, Porsche, BMW, Volkswagen, Lexus and Toyota)....so hopefully I'll get the car back with very little problems. BTW there was no engine or tranny damage, the car started after the wreck.

All in all it sucks...but has anyone used their diminished value clause from their insurance company??? I looked it up on the internet and I guess they're supposed to give me a check for how much my car's resale value has diminished. If this is true, I think I can get my car back fixed and ALSO get a check for approx. $5000??? Anyone know anything about this?

 

[MicMoor77]

Which insurance company do you use? I've never heard of this.

 

[nitroburn]

When I purchased the car I was informed that if my GTI was stolen, I would not only get a new car, but I would get $5000.

Sadly I never heard about it when hitting poles.

 

[Thalo]

If I totalled my car, or if it was stolen, in the first 2 years of ownership I get the thing replaced at full value.

 

[dsgti]

I have American Family and I think it will work because there's only three states that you can do this (get diminished value from your OWN insurance company) North Carolina, Georgia, and KANSAS!

Google "Diminished Value," you'll see.

Has anyone actually done this yet?

 

[jgo]

Car Facts is going to list the damage to this car. When you sell it, you are going to find that $5000 won't touch what you lost. My opinion.

Thalo, you said that you would have yours replaced at full value. Good luck my friend. Let's face it, insurance companies suck.

 

[Thalo]

I have a really good insurance company.

 

[dsgti]

you make a good point jgo...but diminished value is supposed to be a the same throughout, so if carfax says more then maybe i can use that as proof for the insurance company to give me more than 5k >

 

[blackgti06]

I never heard of that but dam if my car ever damaged i wish i could get a check for $5000

 

[fastgirl]

If I totalled my car, or if it was stolen, in the first 2 years of ownership I get the thing replaced at full value.

Is this some kind of extra option with your insurance plan? What ins company do you have?

 

[DrJones]

If I totalled my car, or if it was stolen, in the first 2 years of ownership I get the thing replaced at full value.

Is this some kind of extra option with your insurance plan? What ins company do you have?

I have a similar option on my policy.

I know All-State has the same thing, too. New car replacement they call it. That's All-State's stand.

Are you in good hands(tm)?

 

[Thalo]

It is an extra option, and it's only an additional $40/year or something. My insurance company is TD Meloche Monnex. Don't think they operate in the States.

 

[fastgirl]

I know some ins companys in the states have something called new auto insurance for compensation in case of a total or theft, but I don't know how much they cost. I purchased GAP ins thinking that's what it compensated but I guess GAP just covers whatever you owe the bank...I think.

 

[BlueFrogPosse]

Yeah, GAP just means that if the car is stolen or totaled your regular insurance will pay the value of the car and the GAP will cover whatever remains toward your financing.

 

[dsgti]

Do Carfax reports give you a price value for the car?

 

[dsgti]

-no they don't dsgti

-really?

-yeah, i looked up a sample report from their website.

-cool

-no, not so much. it would've been better if they had one so i could show the insurance that. now i gotta get some type of appraiser.

-that sucks

-yeah, well...

 

[RANDYO]

Diminished value is not recognised in many states .. for this you may have to get an attorney ... alot of states have a 75% value to repair . check at the local dept of insurance... In Las Vegas a bodyshop owner started a 65% repair total loss. minus paint labor ,material, and tax.. we total alot of vehicles out here. the bodyshops do not report to CarFax.... The insurance companies have a deal with them... you will lose the $16000.00 repair value when trading it in .. No matter how great the repair shop fixes the car CarFax jacks you around... My friend fixed a Mini S and he went to trade it in for a new mitsubishi evo and they tagged him for 6k and then another 3k on top for the suspension because he needed a steering rack ... We got the insurance to cover the steering rack and they still nailed him for the 3k because they already new it was there and they check the repairs ,told him it looked like it was never hit but because of Carfax and the fact they knew it they sucker punched him. :-X

 

[dsgti]

hmmm, lawyer sounds like work but will probably get the most money out of it. i'll eventually end up selling the car depending on the quality of work the body shop does. they have a lifetime warranty on all repairs for as long as i own the car. god, i wish my first accident wasn't this one but hopefully i'll get a LOT for this diminished value check. thanks for the feedback. i'll keep ya posted.

 

[dsgti]

UPDATE:

I've been checking out the repair of my car quite frequently lately. I'm pretty lucky that the frame damage is only the front one foot of the driver side, right by the bumper. Apparently, the frame is welded together and has joints at certain intervals instead of just one whole piece from the firewall, making it easier to cut off a certain section and weld a new piece on. I'm glad because that means the suspension part of the frame wasn't damaged or replaced. So, basically, I just get a new front section, hood, panels, wiring, radiator, etc. in the front. No engine or tranny damage. Whew! And I also kept the VW and GTI badges from the front and made the VW piece into a Flava Flav necklace

Also, the guy at the shop told me that all I have to do for my diminished value claim is go to the dealer and tell them to give me two estimates of what my car's value is, one if the car wasn't repaired and another with all the repair information. Then the difference of that is what I give to my insurance company to start my claim and that should be it. Hopefully that is it. I'll let you guys and girls know if it's true and how much I actually get.

 

[Croatian]

i dunno how it works down there with you guys
but up here in canada i am with Pilot insurance

and if i totaled my car say tomorrow .. i would get the current market value of my car, same goes if the damages on the car is more then 10K they would do the same thing witch is not a bad thing for $10 extra on the insurance