Okay, so as many of you who follow this forum already know, my Rogue was hit after only six days of ownership. I have a question related to insurance. It was recommended to me that I fight the insurance company to pay for the depreciated value on my Rogue as it now has a carfax report.

Has anyone here tried this or heard of it working? I think it is worth a shot, but I need to do a little research first.

I am not sure about that, but you should have probably tried paying for the damages yourself or having the other guy pay from his pocket. I had an accident on my car last year and I did that and my carfax report is still clean. Maybe its because I didnt call the cops.

Very good question. I think there should be some kind of compensation for the depreciated value especially on a new car. You will most likely run into it somewhere down the line, trade value, etc. Please let us know what you find out. Having worked in a body shop before everything was reported I'm very curious.

I had an accident in my 2006 Cadillac that did over 20K damage. At the time the car had less than 5K miles. After the car was repaired I contacted a "Diminished Value" expert, http://www.i-van.org/locke.htm this was a mistake. I paid this guy to tell me my value had diminished only $3000. Because he was supposed to be an expert with all kinds of credentials I submitted his appraisal to the perpetrator’s insurance company. They immediately cut me a check for 3K and I signed my personal property rights away. This car had a sticker price well over 50K when I purchased it. I attempted to sell it but because the Carfax report depicted the accident no one wanted it. Even my Cadillac dealer said he could not sell it on his lot. CarMax offered me 17K and told me they could not sell it on their lot. The car looked pristine to the average buyer but was ruined by the report. The insurance companies submit this information to these reporting companies. My advice is to not settle for a small amount like I did. You will find when you get ready to sell your Rogue the value will be worth substantially less than a Rogue with a clean report. Good Luck
Modified by rogue871 at 11:38 PM 10/26/2007

Thanks for you replies!

I tried to get the guy to pay out of pocket, but he refused.

The insurance company told me I would have to hire a company to do an investigation of diminished value and they will consider it, but probably won't pay anything, so I am not going to persue it as the damage was easily fixable. After some research, this accident probably only decreased the value 500-1000 dollars. My husband did take a bunch of pictures that are going to be put in the glove box in case it ever does become a trade in or sale problem as the damage wasn't that bad and no panels had to be replaced.

When I look at prices you guys had posted I just want to scream ! I use to pay $ 345 a moth and after 6 moth they lowered to $ 303 a moth and I just did new York state defensive driving class which would bring down insurance to $ 279 a moth and this is cheapest insurance I can get some companies give me some crazy quotes like $ 6000 for 6 moth that’s $ 1000 a moth ! And just for record I don’t heave any tickets or major violations no accidents nothing !

I got the gap protection insurance..its incase somthing like this ever happens..they cover the rest if its a total loss..im not sure if this is what your talkin about...

I think I have like one of the cheapest insurance ever. I pay $350 every 6 months with Geico..full coverage and all! I used to pay $1200 every 6 mnths with State Farm, talk about savings! and i live in NY, right next to NYC

"Diminished value" does exist, but is something that requres precedent and varies from state to state. Only a few states actually recognize this and if your state doesnt then you have no leg to stand on.

If your state actually does, "diminshed value" is calculated by a mathematical formula based upon the extent of damage, total cost of damage, age of the vehicle, and overall value.

FYI, as far as I know, there are no states in the Northeast that recognize this.

Regardless, if your vehicle is repaired properly, nobody can tell you the vehicle is worth less, and no dealer could offer you less on a trade in based upon the being being in an accident unless they can point out to you specific issues with the repair.

Mad Montie has it right. In my state we have diminished value, but it's only considered basically when there's structual damage to the vehicle, so little fender benders dont apply, and it usually a tiny amount. I had one of my insured's get a $ 56.10 check for diminished value. Gee thanks! That really didn't help things at all - I think your fighting a losing battle.