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Old 10-22-2019, 04:42 PM #46
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Originally Posted by jmickle11 View Post
Seek diminished value...below is what I had to do...it was a pain but just today I received a payout...I just updated my thread from August on my crash - 2019 SR5 Premium with 560 miles on it when I was t-boned:

Long post but worth the read if you are in a similar situation. I wanted to give an update on my diminished value claim. Once the 4Runner was repaired, I informed Progressive that I was pursuing a diminished value claim. Keep in mind in Indiana there is no set formula or legal requirement for diminished value.

I started out with a letter from my dealer stating diminished value along with a trade in offer from them showing the CarFax report with the significant accident on it. The dealer also gave an offer letter for an identical 2019 4Runner with no damage. Progressive rejected this and told me I actually had to sell or trade in my 4Runner to show that I actually lost value.

With that, I went a few steps further and did some research and Provided Progressive with the following information:
1. I obtained a purchase offer from CarMax in which they ran a CarFax and found the accident showing the price adjusted down for the accident.
2. I obtained a purchase offer from Carvana which also noted the accident and adjusted the price down.
3. Searched and found an identical used 2019 4Runner SR5 Premium with similar miles for sale that had a clean CarFax and printed that off.
4. Searched and found 4 2019 sr5 Premiums across the country with low miles with accident histories and printed off all of them showing far less sales prices than the clean 4Runners.

I submitted all of that and Progressive still refused any payout. I even escalated to the manager of claims and he stated that Progressives stance was that no payouts occur until the loss is actually realized by a sale or trade in.

Next step: I contacted the Indiana Bureau of Insurance to log an official complaint against Progressive outlining all of the information that I sent to Progressive. The Bureau of Insurance then sent a letter to Progressive giving them 20 days to respond...I did not see this letter but would certainly like to given my outcome.

Today I received a call from Progressive and they offered $2000 for diminished value. I accepted that offer.

So, bottom line is do your homework and stay with it. It's been a lot of phone calls, research and waiting but it paid off.
Good job on staying after it. Insurance companies will always try to lowball you.

Just out of curiosity, what was the difference between the CARMAX/Carvana/dealership offers and the cost of a comparable 4R
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Old 10-22-2019, 06:50 PM #47
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Good job on staying after it. Insurance companies will always try to lowball you.

Just out of curiosity, what was the difference between the CARMAX/Carvana/dealership offers and the cost of a comparable 4R
Carvana was a lowball (4-5K less than dealer/Carmax) with Carmax and dealership offering about the same taking the accident into consideration. And then those were anywhere from $1500 to $4000 less than comparable 4Rs across the country.

I might have been able to get a bit more but I think I would have to take them to court, but I'm happy with $2K...ordered predator steps and TRD black matt wheels today for it.
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Old 10-22-2019, 09:33 PM #48
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Quote:
Originally Posted by jmickle11 View Post
Carvana was a lowball (4-5K less than dealer/Carmax) with Carmax and dealership offering about the same taking the accident into consideration. And then those were anywhere from $1500 to $4000 less than comparable 4Rs across the country.

I might have been able to get a bit more but I think I would have to take them to court, but I'm happy with $2K...ordered predator steps and TRD black matt wheels today for it.
It depends on if you're planning on selling it anytime soon.

When my Acura got whacked ($12k damage), I decided that I was going to sell it, so the dimval had to match what I was going to lose. I went to a certified appraisal who determined before and after values. The pre-accident value was $27k and the post accident value at $23.5k. The dealer had offered me $22.5 and CARMAX $17k.

MD law requires that the insurance company pay at least the difference in value as appraised plus the cost of the appraisal ($250). I negotiated a few bucks more, talked the dealer up by a bit and came out mostly even.

The dealer sold the car about a week later for $28k and now, 5 years later, it still has a clean CARFAX.
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Old 12-21-2019, 02:24 PM #49
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Apologies for the thread hijack. Last night was unfortunate. A guy backed into my 2018 trail ORP damaging the driver side door, minor scuffs to the front panel above the wheel and the plastic fender. I was at less than 5mph so no injuries. Toyota Authorized collision repair quotes ~$3500.

Now, the fix is going to on record but wanted to check if the door itself can be replaced at a lower price without affecting the value? Maybe from a salvage yard or something? First 4Runner and first accident experience ever. What are your thoughts n advices?

Not qualified yet to post a separate thread
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Old 12-21-2019, 03:29 PM #50
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Apologies for the thread hijack. Last night was unfortunate. A guy backed into my 2018 trail ORP damaging the driver side door, minor scuffs to the front panel above the wheel and the plastic fender. I was at less than 5mph so no injuries. Toyota Authorized collision repair quotes ~$3500.

Now, the fix is going to on record but wanted to check if the door itself can be replaced at a lower price without affecting the value? Maybe from a salvage yard or something? First 4Runner and first accident experience ever. What are your thoughts n advices?

Not qualified yet to post a separate thread
If the cops/insurance were notified, then it may well be reported to Carfax already.

Not sure what state you are in , but you can always get diminished value from the other insurance company.
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Old 12-22-2019, 04:12 AM #51
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When I was rear ended the other dudes insurance company paid me out all aftermarket parts. I just sent them receipts and they sent me a check. I had a C4 Ladder that was destroyed, a tire carrier, and they replaced the wheel and tire as well.
Good thing he had insurance, here in California they’d take off and I would’ve been left to pay for the damage.
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Old 01-27-2020, 09:36 AM #52
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Quote:
Originally Posted by jmickle11 View Post
Seek diminished value...below is what I had to do...it was a pain but just today I received a payout...I just updated my thread from August on my crash - 2019 SR5 Premium with 560 miles on it when I was t-boned:

Long post but worth the read if you are in a similar situation. I wanted to give an update on my diminished value claim. Once the 4Runner was repaired, I informed Progressive that I was pursuing a diminished value claim. Keep in mind in Indiana there is no set formula or legal requirement for diminished value.

I started out with a letter from my dealer stating diminished value along with a trade in offer from them showing the CarFax report with the significant accident on it. The dealer also gave an offer letter for an identical 2019 4Runner with no damage. Progressive rejected this and told me I actually had to sell or trade in my 4Runner to show that I actually lost value.

With that, I went a few steps further and did some research and Provided Progressive with the following information:
1. I obtained a purchase offer from CarMax in which they ran a CarFax and found the accident showing the price adjusted down for the accident.
2. I obtained a purchase offer from Carvana which also noted the accident and adjusted the price down.
3. Searched and found an identical used 2019 4Runner SR5 Premium with similar miles for sale that had a clean CarFax and printed that off.
4. Searched and found 4 2019 sr5 Premiums across the country with low miles with accident histories and printed off all of them showing far less sales prices than the clean 4Runners.

I submitted all of that and Progressive still refused any payout. I even escalated to the manager of claims and he stated that Progressives stance was that no payouts occur until the loss is actually realized by a sale or trade in.

Next step: I contacted the Indiana Bureau of Insurance to log an official complaint against Progressive outlining all of the information that I sent to Progressive. The Bureau of Insurance then sent a letter to Progressive giving them 20 days to respond...I did not see this letter but would certainly like to given my outcome.

Today I received a call from Progressive and they offered $2000 for diminished value. I accepted that offer.

So, bottom line is do your homework and stay with it. It's been a lot of phone calls, research and waiting but it paid off.
Thanks for the explanation. Glad you were able to work something out. I got mine back Friday and I can finally get back to normal. C4 were awesome about speeding up the process for me. Gobi were Gobi. The collision center sent the bumper off to my same powder coater and seemed to have done a nice job reinstalling it. In the end, it was just the bumper, ladder, and outer liftgate cover that were damaged.
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Old 01-28-2020, 01:37 AM #53
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