Expert: Richard Hixenbaugh - 12/17/2011

Question
I am currently pursuing a diminished value claim with the at-fault driver's insurance company.  The amount of damage to my car was quite high, including some frame damage, and I do not want to drive it for any longer than I have to (I've got two kids who sit in the back where it was damaged/repaired).

My question is this: Do I have to wait to sell or trade in this car until I have received a check for diminished value?  Or can I go ahead and trade it in and continue to pursue the claim?  Does it make a difference?

Thank you for your assistance.

Answer
Hi Katie,

Although you do nto want to, it is best if you hold on to the car. You will need to hire a professional appraiser to inspect your car and write an appraisal report to determine the amount of diminished value. Once you submit that to the insurance company they may also want to hire their own appraiser who will also want to inspect the car. If you sell or trade the car you may not have the evidence to support your claim.

To learn more about diminished value claim visit www.collisionclaims.com

I hope this helps
Richard Hixenbaugh