My 2012 f-150 fx2 was rear ended last week. The impact was enough to practically destroy the bed, rear bumper, dent the cab and even buckle the passenger side leaf spring. There is also possible damage to the rear frame. I was at a complete stop at impact and the highway patrol listed the other guy as 100% at fault. The estimate came in at $8,000 to repair it. So far the other drivers insurance (GMAC) is being very co-operative.

I just bought the truck brand new in april of this year. I fear that when i try to resale it a few years from now there will be a substantial loss of value because of a wreck showing up on the vehicles history report.


How do i go about estimating the inherent diminished value? Anyone ever get a settlement from insurance after having a wreck in a nearly new vehicle? From what i read online it seems its near impossible to get compensated for this. Which sucks cause buyers always shy away from wrecked vehicles no matter how good the repair was.

Im sure the truck has lost at least $6,000 of resale value.

 

Go after the guy that wrecked into you for it. Your insurance won't do anything for you on resale value.

 

With all that damage and a bent frame, I'd get a few opinions to try to push for totalling it. Many times a truck is never 100% after a repair like that.

 

Everything is going on his insurance. Ive heard of getting a diminished value settlement in not-at-fault cases like this with an expensive vehicle.

 

not possible, the estimate is less than $10,000 and the truck is worth $30,000. There's simply not enough damage to total it, not even close.

 

Sometimes a bent frame will cause it. Regardless of amount. Sometimes.

 

they should be pulling the bed off soon. We will see what happens.

 

I work in a body shop and I do frame work and body work I guarantee you have frame damage first off make sure you take it to a very reputable shop that has a good rep that they want to keep
Demand new OEM parts and know exactly the repairs they will make and parts that will be replaced you not the insurance company have the control over how your truck is repaired but unless it is close to a total the request will be denied also make sure they offer a lifetime warranty on their work a deminished value check is certainly viable you would be better off finding an independent appraiser who will inspect the truck after the repair and access the deminished value take that to the insurance co they will argue stand your ground they want to close the file so if you let them know you won't go away they will eventually cave they have no choice but they won't do it easily they are only there for the money and most don't care at all but don't get pissed or take it personal that will just slow it down

 

I would argue the fact that the frame needs to be replaced, not repaired, that should push the total closer to totaling it out. Frame damage is something that should be replaced, not repaired. If you do get stuck keeping the vehicle, get the insurance company to pay for an independent inspection, wires looms reinstalled, clamps tight, hoses back in factory position etc....

 

15 years ago, I was an insurance adjuster.

Depends on your state, whether or not you get a diminished value settlement. We all know that a car with carfax repair damage is worth less than a clean one, but for years, ins companies said that if it was fixed, it is as good as an accident-free vehicle.

Insurance is state specific.... I would say that you should start by checking your state's department of insurance homepage for info- usually they are pretty helpful.

The other thing you can do (and there are appraisers who specialize in this) is get a comparison of comparable vehicles, with and without damage history, and what they sold for at auction and on the secondary market.

These guys will prepare a report for you, coming up with a "diminished value" amount, which you can present to the at fault carrier.

Another thing you might consider is filing though your own company. It won't be used against you as an at-fault claim, and sometimes they are less likely to play hardball, because they know they will get 100% of what they give you back from the at fault guy's company in subrogation.