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Question
Hi Charlie my question is I have a car that is in repair at a body shop and my insurance company sent a check for repairs which I am still holding until work completed, but I got a call today that I also have a check coming for Diminished Value of vehicle made out to me now I also have a open claim in regards to my personal injury from the accident that has not been settled, if I cash the check for my DV will that cause a problem with my personal injury claim the insurance company won't try to pull a fast one and say since I cashed the check for the DV that they have closed my claim and I am not entitle to my personal injury award.
Mike,
Be sure not to sign a release of ALL CLAIMS arising from the accident. If you are unsure, check with a personal injury lawyer to be sure. Also, if the diminished value settlement is coming from the liability carrier that insured the other party, you may want to get your own DV assessment, as it is likely to be short.
Charlie
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Answers by Expert:
Charlie Barone
Expertise
For questions involving auto damage claims, collision repair, forensics, industry practices, we can help. We specialize in claims for loss of resale value (Diminished Value).
Experience
I have 30 years experience in the collision repair and body reconstruction field, both hands-on and from behind the desk. I hold a Master Certification from ASE in the Body and Paint category, as well as their certification in Estimating. I have authored over 120 feature and training articles for the largest trade journal devoted to the collision repair industry, and have given expert testimony in court dozens of times. Licensed physical damage appraiser in Pennsylvania and reciprocal states.
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