How Should I Proceed?
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UPDATED: Nov 4, 2011
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Insurance Question from Pinedale, WY
Asked on 11/04/2011
How Should I Proceed? I was helping the guy that is moving our house, when he backed his backhoe into my car. His insurance which is a Commercial General Liability Policy says that they just want to cut me a check for the damages,( which are around $7,300.00) and the rental car,(which is about $1,000.00). But what concerns me is that although yes it does cover my car being fixed it doesn't cover the depreciation value of my car. So I guess my real question is how should i proceed with negotiating that amount into my settlement or is that something that I'm just stuck with?
Answer given on November 07, 2011
The reduction is your car’s value is otherwise known as diminishing value. Read our article on diminishing value in order to get some tips on how to proceed. This article outlines how you should argue your case with the insurance company. There is also a link provided in the article if you feel you need to talk with an attorney.
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