I have a 2018 F150 Platinum Screw and was in a not at fault accident last summer. Total repair bill was 18k and frame had to be replaced. Their insurance paid for everything, no injuries.

I just called insurance company and ask to settle claim due to diminished value of truck, and they tell me I have to submit a request to them and tell them how much I want.

So, how much do I ask for, if anything?

The way I look at it is when you buy a used vehicle, everyone promotes a clean car fax as a selling item. You pull a car fax on my truck and see a frame replaced, well, may as well have a salvaged title. Despite that these new vehicles are designed to have the frame replaced.

Or if a person doesn't pull a car fax and asks me about accidents, of course I'll disclose it.

What do you think?

 

There are companies that you can use to get a fair value for the diminished value that you can ask for. It's basically the value between the value before the wreck and after the wreck and you need a good company to help you determine the value. You can go to https://www.carprousa.com/how-do-i-c...minished-value and read through that page and any others from the carprousa site. Jerry Reynolds is pretty knowledgeable about this stuff as a former car dealer and top Ford dealership owner. My g/f has to do the same thing to get the diminished value from her accident in Sept where a gal turned left in front of her. You have up to two years to file the claim on it so do some research before you file the claim. Do a Google search for "diminished value claim" and you'll find several companies that can provide the info you are looking for. If I'm not mistaken, you can also include their fee as part of your claim (but I may be wrong on this). Good luck and let us know how it goes. Be ready for the insurance company to say you are asking for too much, but if the valuation is done properly, you'll be OK.

 

I'm getting ready to do the same thing. My truck had less than 1900 miles on it when it was hit. Only did about $1500 in damages but took an obvious hit on value.

From all the research I've done you want to, at minimum, get your truck value, pre-crash, from KBB or a similar site. Look at trade in and private party values. Next, go to a couple dealerships and get an actual trade in value for your truck now. Search for other trucks for sale with same features, mileage, etc. Look at at least 3, more if you can find them. For the little damage that was done to mine, I did a quick diminished value calculation on autoloss.com. I'm gonna try this first and worst case, will talk to my lawyer and see what other options there are.

With the amount of damage done to yours, it may be worth it to pay a couple hundred bucks for an actual valuation report from a qualified evaluator. If you do, look at BBB reviews before you commit to any specific one.

Good luck.

 

I've used one of those online companies and the at fault parties insurance basically tossed it aside and tried to talk themselves out of having to pay. (They paid)
I've also just told them I want diminishment of value and they worked up the numbers. (State Farm)
In all of my not at fault accidents I was paid around 20%-40% of the total cost to repair. (I believe I've been hit 4x - I've lost count.)
You thankfully got a new frame and not a repaired one. I got a repair done and had to have a permanent sticker saying the payload had changed.
I think you should ask for $7k, but realize you will likely get $5k-$6k.

Instead of using one of those online companies, go over your truck with a fine tooth comb. I had overspray, a new welded trunk, a door that stuck out just a fraction of an inch and the list went on and on. From non-oem parts, to parts that no longer had the vin attached. I just had to take photos and compare to that of a new one and say "it will never be as it was"

 

I had thsi do a few times when I was rear ended in my brand new 2013 Explorer (Twice in the first six months of ownership) The insurance companies will not take your word from an internet site (USAA, Progressive) I had to go to Carmax and have them do up a "we will buy your car" work sheet and then submit this to the company.

 

A number of years ago it was a lot harder to show DV which is why those online companies started popping up. These days when you say DV, the insurance company knows exactly what you're talking about and they have a number in mind, they just hope your number is lower than theirs.
Carmax is a good idea, I would also take it to a couple of dealerships and see what trade in would be. It would be ideal to get a few quotes, then compare to what KBB has it at and try and find a vehicle that is similar and is local and see what it's selling for (having not been in an accident.) This is exactly what those online companies do, only you can do it for free.

 

with it being so new - I'm not sure if this would work. BUT you could put your truck details into the NADA estimator site - run it with out accidents - and then with. and see if there is a difference.

Also assuming your insurnace company is a different company than the person that hit you - you could ask their opinion as a reference point.

 

Taking it to a dealer is also an excellent idea. The main thing is that the insurance company will want a signed hard copy of the estimate signed by an estimator. At least that is what State Farm and Progressive wanted when I did my two DV claims. They actually wanted two to three estimates and they would not accept anything from any online source. They wanted an eyes on estimate only.

 

Just talked to the local Ford sales guy who I've known for some time and have bought a vehicle from him and I trust him; he claims the ding would be a couple grand.

 

If the repairs were done perfectly, you have no OE replacement parts and no airbags deployed. He's probably correct.