Collision claims

[Qadar]

Hi All,
I need some feedback on this. Recently I had collision on my car, I am not at fault.
repair damages are estimated up to 7k. This will be claimed ( i hope no surprise!_)
My Question is regarding car depreciation due to this. This was clean record car just bought month and half ago. Am i not supposed to get refund for that depreciation caused due to someone's ignorance. Calling it ignorance because guy just did not stopped/wait where he was supposed to and hit me side on.
If i go to sell this car when ready i have to settle for atleast $1500 less just due to this repair.
Just need you knowledgeable ppl's feedback whether anything like is possible.
Thank you.

[black300]

Unfortunately the claim will show on your Carproof. Of course when you go to sell the vehicle majority of the buyers will expect a discount due to this claim on the vehicle.

Insurance won't pay you anything that is related to the depreciation value decrease due to the claim/accident on your vehicle.

It depends what kind of vehicle it is and when you decide to sell will play factor of "How much is this vehicle worth" to potential buyers.

The higher the claim the worse it looks on your history.

[BAB Inc]

Read the fine print, insurance will say its depreciation. Unfortunately its the way it works, nothing you can do about it.

whats your car worth roughly? maybe you can swing them to write it off????

[schocker]

I thought in Alberta to do this, you would have to go through court on your own?
I am probably wrong though. Where is Bill!

[Thaco]

Insurance claims are somewhat negotiable, bring up your concerns with your insurance rep.

[lilmira]

Nothing that you can do about it. Regardless of the quality of the repair, with everything else being equal, the car with no collision will sell first. What you can do now is to get it repaired the best you can and maintain the car the best you can. Hopefully by the time you sell it, yours looks 10 times better than the rest with or without collision.

[rage2]

It's called diminished value, and some people have been successful suing for it.

http://edmonton.ctvnews.ca/local-company-says-albertans-involved-in-collisions-entitled-to-diminished-value-costs-1.1259442

Court case history: http://www.claimscanada.ca/issues/article.aspx?aid=1003398417

More info: http://www.theglobeandmail.com/globe-drive/culture/commuting/how-do-i-get-full-value-for-my-crashed-car/article9454999/

There is no standard for claiming back diminished value. Question is, will it be worth your time and effort to get back the difference your car is worth pre and post accident? You can start with these guys, they will do an accurate assessment of the diminished value due to accident, but you'll have to pay them for the services.

http://diminishedvaluecanada.com/

[Masked Bandit]

Diminished value is definitely a bit of a sasquatch in the industry. Everyone's heard of it but sightings are rare and suspect at best.

For all intents and purposes, in Alberta at the moment it doesn't exist. There are a handful of examples but there may have been other factors in play behind the scenes that the media & general public weren't privy to. Unless you have a high value vehicle and some pretty unique circumstances, I wouldn't waste your efforts.

[Qadar]

thanks for inputs.
It sounds there is no respite! Its double whammy for me because i bought it in Oct for 20k, and was looking to sell it in january due to something just happened financially,,,But before i do that,,, guy on left strikes! <My bad

[Xtrema]

That's always been an issue of owning a car. If you lease, you just return and make it dealer/manufacturer's problem.

[riander5]

I have been in the same situation man. Got hit, insurance company says no we will fix it up just like new! When you ask about how the car is worth less compared to other cars they simply say "we dont have anything to do with that"

Mother fuckers

I think BC has a system for diminished value.. but i may be wrong. I also rear ended someone who stopped in the middle of an on ramp once and BC has systems where the person rear ending isnt at fault in certain situations where the lead driver is a total retard.

BC auto laws FTW! Unfortunately we are stuck in AB with our laws

[rage2]

Originally posted by Xtrema
That's always been an issue of owning a car. If you lease, you just return and make it dealer/manufacturer's problem.
Some manufacturers are going after diminished value for lease returns that has been in an accident.