If the parties of an auto accident are both insured by the same company can u recover money for diminished value of your vehicle in a law suit?
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UPDATED: Jan 17, 2012
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Insurance Question from Dardenne, MO
Asked on 01/17/2012
If the parties of an auto accident are both insured by the same company can u recover money for diminished value of your vehicle in a law suit? The policy of the insurance company is that no diminished value can be sought due to both parties involved in the accident have the same insurance carrier.
Answer given on January 18, 2012
I am not sure that having the same insurance carrier would change the fact that you have a diminishing value claim. Perhaps that is the policy for that insurance carrier. You can always submit a claim in writing for the diminished value of your car and if denied for the reason that both cars were with the same carrier, you can then forward the denial and a letter to your state’s department of insurance, letting them weigh in on the denial’s fairness. Read our article on Diminished Value and Car Insurance. This may help you to file a claim for your car’s diminished value. You may want to also talk to an attorney in your state concerning your carrier’s claim that they can not pay this type of claim due to both car’s being with the same carrier. To review this with an attorney in your area, click here.
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