QUESTION

What is the best process for recovering vehicle diminished value from accident when other party's insurance property damage limit has been met?

Asked on Apr 24th, 2014 on Automobile Accidents - Virginia
More details to this question:
Wife was involved in accident 4 JAN 13, not at fault, other party 100% at fault. Other party's insurance policy had $25,000 property damage limit, and had offered $4278, bal of property damage limit available after repairs and rental car fees. We believe this is much too low for our 2012 Volvo S80 which was less than 8 mos old and only had 5386 miles. The other party's insurance company, Agency Ins., had an appraisal performed and their estimated DV loss was $7100, but had listed our vehicle as "average" when it was definitely in "excellent" condition and DV would have been much greater. After attempting to recover this DV from both Agency Ins. and our insurance policy (USAA) uninsured motorist/underinsured motorist clause, USAA indicated the $4278 offered by Agency was sufficient and had no more to offer and backed away. Then a bill of $2687 was presented to Agency for the damages to Street Light Pole and Commuter sign. Agency paid this and is now offering just $1591 to settle.
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1 ANSWER

Insurance & Worker's Compensation Attorney serving Towson, MD at Saltzberg & Schloss
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It sounds like you do not want to accept the DV offers from Agency and USAA so you have no choice but to file a DV lawsuit against the at fault driver and to serve a copy of the lawsuit on your insurance company (USAA) as to this claim.  If you have not already done so, you should have your own independent DV report done if you are going to proceed with litigation.  Good luck with this matter.
Answered on Apr 24th, 2014 at 1:49 PM

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