diminished value claim on 2016 Yukon Denali (NJ) ?

[DenaliBQ]

Anyone ever here of this or file for this after a big accident? My 2016 yukon denali white frost 19k miles was hit by a drunk driver he did 20k worth of damage and it was repaired all gm parts perfect condition as the repair shop i use is very high quality.
Anyway i went to the dealer whom i bough the truck from to see what i could get on a trade in and he ran the carfax and said to expect to lose 30%in value almost 17k which is ******** and then told me i should file a diminished value claim with the at faults insurance. Has anyone ever done this could you share your experience with what you recouped if anything ?

 

[ReaperHWK]

I've had a few accidents in NJ where I was hit; I was told that in NJ diminished value is not something the insurance companies are required to pay. SO yes I would file a claim with that other person's insurance but they are not obligated to pay by NJ law. I'd assume they just deny it.

So to get any money back, I'd have to file a lawsuit against the person who hit me and take them to court for it. In my situation that would cost more than I'd get back so I did nothing. Only saving grace for me is that I never sold that car(been hit twice in it) and it's still going strong. It's old enough now where the diminished Value really doesn't hit it that much(it's a 2006 F150 with 200k miles now, that I bought new).

In your case I'd talk to a lawyer and see what they say(estimate for fees and what you expect to recover). If it was small change you could do small claims court yourself but it's over that. If you're willing to really do research you could represent yourself as well in court.....

Oh and I also had a friend who had his brand new truck hit, and wanted diminished value for it. The insurance said they are not obligated to pay in NJ and he talked to a lawyer about it and started the process of litigation. I think what happened is he sold the truck a few months later for some other reasons and he just dropped it.