A cop hit my parked 2002 Chrysler Sebring causing $5000 in damage. The city is paying for the damage, but will they pay for the depreciation associated with a wreck of this magnitude? The value of the car just dropped a bunch because of the wreck.
2006-11-06 08:57:55 · 7 answers · asked by Jon M. 1 in Cars & Transportation ➔ Insurance & Registration
I think you're talking about dimunition of value (depreciation is already happening to your vehicle as we speak and it was happening before you had the accident). This is not allowed in some states, so I am unable to say whether you can or can't. In order to prove that the vehicle has lost value and will not get as much if you sell or trade it usually you have to trade or sell it and show that something was deducted for it being in an accident. You also have a claim against a municipality, and they may be immune to paying for anything other than the vehicle damage itself. Don't be greedy, just get your car fixed.
2006-11-06 09:27:33 · answer #1 · answered by Chris 5 · 0⤊ 0⤋
You need to get YOUR insurance company to tell you exactly what to do to get the full amount out of the city. They are experienced in dealing with such things. The city chould have given you a claims rep. that you can call and dicuss this matter. Tell him you want the depreciation, and he will probably give it to you. But they don't have to tell you about it and don't have to give it to you if you don't bring it up.
2006-11-06 17:07:05 · answer #2 · answered by Rockstar 6 · 0⤊ 0⤋
No they will not pay for the depreciation value they are only obligated to pay for the damages of the car.
2006-11-06 17:02:16 · answer #3 · answered by Mama2 3 · 1⤊ 0⤋
You can ask your insurance company to go into sebregation. You also have the option of sueing the PD for ALL losses incurred by you due to thier negligence, which can include any insurance increases your company charges you that are a direct result of the accident, and loss of value of your vehicle.
2006-11-06 17:01:52 · answer #4 · answered by Anonymous · 0⤊ 0⤋
no depreciation sorry -- the best you could hope for is trying to get it from 5000 damage to totalled. then you would get full book value for the car.
2006-11-06 17:07:52 · answer #5 · answered by Anonymous · 0⤊ 0⤋
No, you are lucky to get paid for the cost of repair. You can sue the city, good luck with that.
2006-11-06 17:08:45 · answer #6 · answered by shepherd 5 · 0⤊ 0⤋
No, vehicles are insured on ACV (actual cash value)
2006-11-06 17:04:51 · answer #7 · answered by servantranger 1 · 0⤊ 0⤋