I was recently in a car wreck in my brand new 2025 Camry. It has less than 2,000 miles on it and the car wreck was over 30k in damages due to the extensive body, frame, and transmission damage. I’m picking it up from the body shop next week, the other party was completely at fault as they ran a red light.
Do I have a valid case for diminished value? If so how much should I expect to receive or ask for? The car was $45k on the window sticker. I’m just worried about how much I’d be losing if I were to ever sell it due to the extent of the damages and cost to repair it, and having such a major collision on the car fax. How would I go about filing the claim? USAA is the at fault insurance company.
I’ve talked to my parents and they say I’m being frivolous and difficult for wanting to file this claim.
Any help is appreciated as I’m only 21 and this is my first car wreck and major car purchase.
Posted by vomitbaby47
5 Comments
Insurance does not recognize the diminishment of valuation for resale.
Make the claim and see what they offer.
The ONLY time DV should be in the conversation is examples like this with a basically new car with almost no miles in my mind. How much DV? Well that unfortunately is the hard part!
Yes you can. Well. Depends on your state a bit.
It can be a pain. Once the car is fixed you make the claim. It is on you to prove the loss in value. There are companies that charge you to write up a valuation but they aren’t really worth it. See if they will make you an offer without any homework. You can Google the 17c formula used in Georgia for an idea. $1500-$2000 would be about average for most states. If they offer over $3000 take it and run.
Yes you do have a claim, depending on who the insurance company is and your state.
You need to send them a diminished value demand . Keep in mind that it maxes out at 10% of the acv of the vehicle. In your case you are probably owed the full 10%