I need to vent! Drunk driver hit my Parked 2021 Ram 1500 🤬

[slatersan]

You can call them, but it will cost you. These are not the kind of cases they take on contingency....most people that even bother to try and recover, go through small claims court, max amount of recovery is $5000.

My back hurts. Was in the truck when it got hit....

 

[scottmoyer]

You folks in the NE really know how to screw the citizens. I just read some of the details of the court case that the courts denied for diminished value. We, as consumers, pay insurance companies to protect our property, and others property, from loss. If a repaired car is identical to an all original car on a used car lot, the general consumer would choose the undamaged car over the repaired car, every time. Dealers know this and offer less for trade, even on a perfectly repaired car. The victim of the accident gets screwed out of the loss of value. All so the insurance companies, can continue their legalized extortion, and making millions, or billions in profits, annually.

I'm glad I live in Florida where there are protections in place for loss of value, when caused by a 3rd party. They should have to pay. What's the purpose of insurance? To make one whole again? Insurance companies aren't doing that if the consumer gets stuck with a value loss due to a 3rd parties negligence.

 

[Havanajoe]

I would go nuts. As everyone indicated all parts will be replaced.


Sent from my iPhone using Tapatalk

 

[OldMarine]

You folks in the NE really know how to screw the citizens. I just read some of the details of the court case that the courts denied for diminished value. We, as consumers, pay insurance companies to protect our property, and others property, from loss. If a repaired car is identical to an all original car on a used car lot, the general consumer would choose the undamaged car over the repaired car, every time. Dealers know this and offer less for trade, even on a perfectly repaired car. The victim of the accident gets screwed out of the loss of value. All so the insurance companies, can continue their legalized extortion, and making millions, or billions in profits, annually.

I'm glad I live in Florida where there are protections in place for loss of value, when caused by a 3rd party. They should have to pay. What's the purpose of insurance? To make one whole again? Insurance companies aren't doing that if the consumer gets stuck with a value loss due to a 3rd parties negligence.

Insurance companies make almost nothing off auto policy business. A typical " severity" as we call it is 90-95 %, meaning they pay out .95 for every 1.00 they take in. They make most of their profit from financial investment. It's all public information.

 

[Jako]

Insurance companies make almost nothing off auto policy business. A typical " severity" as we call it is 90-95 %, meaning they pay out .95 for every 1.00 they take in. They make most of their profit from financial investment. It's all public information.

I find your statement interesting (.95 for every 1.00).
Living in NYC I pay for all the young, inexperienced drivers crashing theirs or parent's vehicles. My 21 yr old son did an internet search for minimum liability with no driving history on a 1985 Toyota Corolla and was quoted just shy of $6000. My sons are on my policy to reduce cost but of course I accept liability (potential law suit) and luckily I have responsible sons with good driving habits. BUT I pay for those that are not. When I see young drivers dying in car crashes with some powerful vehicles I wonder if the giver of the vehicle fully thought out their decision and made a wise choice. My first vehicle was in 1976, paid $250 (I believe) for a Fix It Again Tony 124 Sport Coupe. It put me on the road of how cars work, repair and maintenance. Being financially strapped can be a good learning process and a life saver.

 

[OldMarine]

I find your statement interesting (.95 for every 1.00).
Living in NYC I pay for all the young, inexperienced drivers crashing theirs or parent's vehicles. My 21 yr old son did an internet search for minimum liability with no driving history on a 1985 Toyota Corolla and was quoted just shy of $6000. My sons are on my policy to reduce cost but of course I accept liability (potential law suit) and luckily I have responsible sons with good driving habits. BUT I pay for those that are not. When I see young drivers dying in car crashes with some powerful vehicles I wonder if the giver of the vehicle fully thought out their decision and made a wise choice. My first vehicle was in 1976, paid $250 (I believe) for a Fix It Again Tony 124 Sport Coupe. It put me on the road of how cars work, repair and maintenance. Being financially strapped can be a good learning process and a life saver.

Just remember, every state has its own regulations and laws when it comes to car insurance. Some states don't even require insurance!

 

[DomW]

It's actually called diminished value. And definitely something for him to look into.

You are right. I had asked my wife who worked in auto finances for many years, but she was having a senior moment. I have to say that when we walked into the Dodge dealership just before Xmas and said she just loved the 2021 Ram 1500 Diamond Black pearl-coat nicely loaded Limited Night Edition sitting on the showroom floor and that I should get that one, what could I say. I love that woman.

 

[Portercycling250]

Tell the drunks insurance you want "Depreciated Value". Get a couple estimates on how much you have lost in value for resale or trade-in. Don't let the drunks insurance say they don't do that because they will try to say they won't. That lost value will come out of your pocket at resale. There is always a record of any insurance claim and they will take it off the trucks value. My condolences on the trunk, mine only got hit by a shopping cart. Is there an emoji for whiplash?

Here in the Province of BC the only way to get depreciated value is to go to small claims court and have professional witness confirm extra depreciation. The big issue is the depreciation has to be based on sell price and I do not plan on selling . depreciated value today is high amount but in 6 years it would be a lot lower.. basically I do not want to waste my time. I’ll be back enjoying my truck in no time hopefully.

 

[Jako]

Just remember, every state has its own regulations and laws when it comes to car insurance. Some states don't even require insurance!

NYS requires it, but the question is does the driver have current coverage?

 

[Aseras]

Here in MA, the insurance companies have no liability for diminished value. Just a fact. I work for a major ins co here. https://www.mass.gov/service-details/frequently-asked-questions-about-auto-insurance-claims

you misunderstand the words LIABILITY. perhaps you shouldn't be working for an insurance company?

Liability includes all losses. You are absolutely liable for loss of resale value. A claimant may need to cement those loses by actually selling the vehicle to show actual damages, and then you are on the hook for trebled damages for willfully denying them.

 

[Neurobit]

Dang. Sorry to hear.
The silver lining, if you can call it that, is that it seemed to completely miss the actual fender from the look of your pics. Bumper is easy to replace.

Cheers,

 

[Malodave]

When I went shopping for a new motorcycle back in the late '80s,
I was looking at a Suzuki GS500. Out the door price was $3600.
For Full Coverage the Insurance Company wanted $1800/yr.
Two years and I could have purchased another Bike.

I eventually got a 1983 Kawasaki 1100 LTD used with 4500 miles for $900.
Full coverage on that was $500/yr. Went to college with it and put 28K
miles on it in the first year in Florida.

Malodave

 

[OldMarine]

you misunderstand the words LIABILITY. perhaps you shouldn't be working for an insurance company?

Liability includes all losses. You are absolutely liable for loss of resale value. A claimant may need to cement those loses by actually selling the vehicle to show actual damages, and then you are on the hook for trebled damages for willfully denying them.

whoa there...cool your jets a little. It's you that doesn't understand...in MA, BY LAW...repeat, BY LAW, the insurance companies are NOT LIABLE for "diminished value"....just because you don't like that fact, doesn't mean you should be insulting me. Don't shoot the messenger!! lol...for crying out loud I included a link to MA State Gov website that explains it......sheesh!

 

[Portercycling250]

Just to update all is good.. steering box on order ( it busted) the lower front fascia and sensors etc and some TLC all good. I’m not sure when I get it back but I really am not worried anymore .. dealer knew I really wanted a Ram 3500 so will give me good bucks back and I’ll be in a new Ram 3500 as soon as we can find one . High output diesel and I won’t have payload issues .. yes I know I’m crazy .. I’m fortunate I have the money to change this now but over time it will pay for towing piece of mind long term.. drive safe everyone !

 

[Aseras]

whoa there...cool your jets a little. It's you that doesn't understand...in MA, BY LAW...repeat, BY LAW, the insurance companies are NOT LIABLE for "diminished value"....just because you don't like that fact, doesn't mean you should be insulting me. Don't shoot the messenger!! lol...for crying out loud I included a link to MA State Gov website that explains it......sheesh!

again you don't understand even what you posted. they concept of diminished value is still under liability. until the loss of value is realized it is conceptual. hence if someone incurs a loss because of the actions of another it is liability. all losses resulting from such actions are liability. including loss of resale, use, function etc.

again you may have to realize that loss by selling the vehicle to prevent any possible defense against it being conceptual.

most insurance companies know by that point they are going to lose and pay up. then there's insurance companies who would rather pay more in a few cases by railroading everyone hoping they give up. guess which company you work for?

 

[RHCan]

Thank God we have in Texas.
My 2013 i claimed against the lady’s insurance who cause the accident.
$3500 was the damaged and I was able to collect 5k for the diminish value.
I did hire an outside company to do the paperwork.Cost me $350.00

 

[OldMarine]

again you don't understand even what you posted. they concept of diminished value is still under liability. until the loss of value is realized it is conceptual. hence if someone incurs a loss because of the actions of another it is liability. all losses resulting from such actions are liability. including loss of resale, use, function etc.

again you may have to realize that loss by selling the vehicle to prevent any possible defense against it being conceptual.

most insurance companies know by that point they are going to lose and pay up. then there's insurance companies who would rather pay more in a few cases by railroading everyone hoping they give up. guess which company you work for?

Are you trolling me!? What is so hard to get? We don't allow for diminished value recovery in this state from insurance companies. It's the way it is here. I settle total losses all the time, there is no allowance for it. An insured can sue the other party if they want but it rarely happens. I'm only talking about MY STATE, not yours, or any other state. You can keep beating your head against the wall if you want, but you will still be wrong. Peace out.

 

[Ramtruck86]

I've played the diminished value game with Geico in the past. I fought them for 2 years and finally settled on $3k.

Good luck.

2 Years?! I got Allstate up from $600 to $3200 on $6K worth of damage to my then 3 year old Grand Cherokee. All within a matter of a week. I did use a independent appraiser that cost me $300. He ran came out assessed the damage, made comparison and then made a demand letter. Happily pay his fee again.

 

[scottmoyer]

I went through the same process and paid $250 for the appraisal and loss report. I provided all of it to Geico and they kept refusing. I started a law suit against them that would also cover all legal fees due to their delays and refusals. I made one last call to the number I had for the Lakeland, Florida office that dealt with these claims and some new guy answered the call. I told him about the lawsuit, mentioned that the papers were already drawn up and they had one last chance to settle this or the papers were being filed. He told ne that this was the first he heard of my issue and that the wrong people were involved from the beginning. He said that all of my paperwork was in order and agreed to the value on the same call.

It might have been quicker and smoother had the Geico agent involved with the original claim, sent me to the right person. I only found this "new" guy by accident. I had an old name and number that was no longer valid, so Geico forwarded me to this office and to this person.

 

[Majortom]

2 Years?! I got Allstate up from $600 to $3200 on $6K worth of damage to my then 3 year old Grand Cherokee. All within a matter of a week. I did use a independent appraiser that cost me $300. He ran came out assessed the damage, made comparison and then made a demand letter. Happily pay his fee again.

I used an independent appraiser for an Infinity. It was about 10 years old but had so few miles and was in such good condition, insurance paid the diminished value claim. Something around $1,200.