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Old 09-09-2010, 05:29 PM
ard ard is offline
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Location: Sierra foothills, California USA
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Mein Auto: '12 X5 35d/E39M5/996TTX50
Originally Posted by 330ximd View Post
Agreed, why hasn't the guy gone through his own insurance for this? He can still go for depreciation as well.
"depreciation" HELPS the insurance company...the car depreciates and is worth less, the OP gets less....

I think you mean "diminished value"... the OP **CANNOT** get DV from his own insurer. Here is the big disconnect that most people have about 'insurance':

1. When a stranger damages your property, they are LIABLE for your damages. (Lets assume they are guilty and all that, for the purposes of this discussion.) This LIABILITY is for all you losses: damage to the car, physical damage, psychological damages, diminished value, etc.

2. If YOU damage your own car, then there is no 'liability'. You've just suffered a loss. You may have a CONTRACT with an insurance company which says "If you crash and suffer a loss we will pay for that loss". This contract will define what a LOSS is- this contract usually (always?) excludes any DV claim. Hence the OP is excluded from a DV claim if he uses his insurer.

3. If a stranger has insurance, that insurance covers the strangers liability- IT IS NOT THAT POLICY (between the stranger and the stranger's insurance company) THAT DEFINES WHAT YOU CAN CLAIM AS YOUR LOSS. (They will say 'oh we don't cover that', but that is just a tactic to avoid a claim.) If you've established a loss that includes DV, then that stranger is financially responsible for the DV. That stranger turns to THEIR insurance and says "I was liable, my contract with you says you will pay my the claim". Even if the claim includes DV, even if the insurance contract says 'we won't DV if YOU crash the car', the policy must say 'we will pay if you are liable'.

As a side note, it would be even sweeter if the dealers insurance excluded DV under their liability policy. That would mean the prick dealer would pay the DV out of his pocket!

4. When you go to your insurance and ask them to pay you for your loss, even if someone else was at fault, your insurance typically uses the definition of "loss" in your contract, then waives the deductible and then subbrogates the claim. These bastards - your insurance and the other insurance- will act in concert to make sure nobody pays DV claims unless state law requires it. Your insurer will say "we don't recognize DV, we will not pay it, we will not help you- you need to sue the other party".

The point is that transactionally, insurers act as the court and settling party, and payor, and people tend to lose sight of the underlying responsible party and who is really on the hook for what...
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