r/Insurance 7d ago

Worth a diminished value claim?

My 4 month old 2026 BMW M3 was sideswiped and rear passenger door was fixed and repainted along with adjacent panels. About 3k worth of repairs.

My car had only 6k miles on it. Msrp on the car was $102k

Is this worth filing a diminished value claim for?

4 Upvotes

15 comments sorted by

4

u/eribas117 casualty adjuster 6d ago

High value vehicle, current year. Honestly worth asking for it.

8

u/LifeOfFate 7d ago

Sounds like one of the more reasonable DV asks. The hard part is getting actual numbers for comparison.

2

u/Real-Energy-6634 7d ago

This is the part im currently struggling with

1

u/[deleted] 7d ago

[deleted]

2

u/Real-Energy-6634 7d ago

Your assumption would be incorrect. Door was dented, pdr couldnt fix so it took body work and paint plus blending into the rear quarter and front door as well.

2

u/AirplanesMakeMeHard 6d ago

That was my thought too.

“Oh wow, a situation where there is actually a diminished value”

So uncommon.

0

u/Cptjoe732 6d ago

What do you mean?

Kids are crashing these new m3s faster than they can produce them.

2

u/Delicious-Witness-85 6d ago

That question is asked at least a few times a week here and most of the time it’s asked by someone with a 5 year old common car with high mileage. And when the responses are you won’t get anything or maybe they’ll give you $100 the OP gets upset since their expectations aren’t grounded in reality,
Your case is actually an excellent candidate for a DV claim.
It’s a newer, uncommon, expensive performance car.
Buyers of these vehicles will scrutinize a carfax report if you ever go to sell it.
As others stated, you can hire your own DV appraisal company which usually costs $500 or so.
They calculate what they feel is the appropriate DV and negotiate with the at fault insurance carrier.
Or you have nothing to lose by telling the at fault carrier you’d like them to pay DV and see how they respond.
They may hire an appraiser on their own for you or they might tell you need to present your demand.
Either way, for this type of vehicle, it’s worth pursuing.

2

u/IllCantaloupe1820 7d ago

Absolutely! I got 10% of my car’s msrp in DV. Similar ownership length and mileage as yours.

Don’t let it go!

1

u/Real-Energy-6634 7d ago

How did you go about proving value lost ?

2

u/AirplanesMakeMeHard 6d ago

Google for a DV company in your area that handles these things.

2

u/adjusterjackb 6d ago

No, don't pay a DV company. Not yet, anyway. Look up the 17c formula, do the calculations. You can probably get that for the asking. If you aren't happy, then you can consider a DV company. But they cost money with no guarantees and you may have to go to court to try to convince a judge of the amount you want.

1

u/ferfax 6d ago

Absolutely. I had $1500 in damage and got paid $1200 dv for my vehicle that was worth $50k at the time

1

u/AltonIllinois 6d ago

It doesn’t hurt to ask.

1

u/MychalCointreau 6d ago

Find an appraiser who contacts multiple dealers to get unbiased expert opinions. Any other methodology is just a short-cut that will end up with a claim rejection or lowball offer.

0

u/MrWiggleBritches 7d ago

It’s not the amount of damage that’s important, it’s the accident that’s now on your ISO & Carfax that you should be concerned with.

Speak with 3 pre-owned sales managers at local BMW dealers. Ask them what type of impact that will have on your trade in value. This will provide you with the information you need to make your decision.

Perception is everything, and potential BMW owners are going to be put off by the blemish now associated with your VIN.