Diminshed Value and how to Collect?

[mark1210]

I was recently involved in an auto accident that was not my fault. I reside in Texas and found out about diminished value off the tdi.state.tx.us website. I have heard of diminished value and even had my car appraised for this. They indiciated my 2000 Firebird has $2501.00 in lost value. Geico (the insured's insurance co) says there is no such thing as diminished value and they won't pay. They also said even if there was 90% of these cases end up in court. Is that true that they don't have to pay? If not, what are my options? Geico even hung up on me saying I was being abusive and have not returned my phone calls since.

Thanks!

 

[mark1210]

Geico Sucks

By the way Geico sucks.

 

[Juan Rodriguez]

Take whatever proof you have and file a complaint against GEICO and the adjuster handling you claim with your state's insurance commissioner.

GEICO will be forced to respond and prove in writing that they do not owe you the diminished value.

 

[mark1210]

Update

Juan,

Thanks for the advice, will do that today. Surprisingly I heard from Geico and they are now asking how the appriasal company came to $2501 and are asking for proof on how they arrived at this number. They are also asking for them to provide VIN numbers of the vehicles they used in their appraisal to compare to mine. Sounds like a stall tactic to me. What do you think?

 

[Hutchinson, Ken]

Mark1210, I concur, Geico sucks! Definitely make your complaint with the insurance commisssion. Sounds like a stall tactic to me. They are hoping you get tired of the hassle and give up your claim.

 

[mark1210]

Wow, you won't believe how many e-mails I have gotten about how bad Geico is. Looks like they wanna play ball so lets play! I am sooo tempted to make a website www.geicosucks.com but they already bought it. Thats ok plenty of other good names out there......

 

[Juan Rodriguez]

It sounds like they did their homework and found out you were correct. If they are stalling it's because they are probably creating policy as they go using your file as "on the job training"!!!
Now that they realized they have to pay the diminished value they don't trust your numbers.

Just remember when you file the complaint to include the adjuster's name.

 

[mark1210]

Thanks for the info

Thanks for the info Juan. I was beginning to believe them too. Goes to show you they are in fact not working for you. Of course this wasn't my insurance company so I kinda knew that off the bat. After a heated discussion with them today they are contacting the people who performed my report asking them to verify and prove everything the report says and how they arrived at their figures. So now they aren't at least saying no. Sounds like a big stall tactic. Wonder how many people give up on this kind of stuff.