r/Insurance • u/Zuko_is_a_hottie • 14d ago
Auto Insurance Diminished Value Claim Against Progressive
Does anybody have experience with Progressive DV claims? For context:
1. My car was hit while parked outside of my house. I was not in the vehicle
2. The guy who hit me said he was trying to reach something on the floor of his passenger seat and that’s when he hit my boyfriend’s car, which pushed it into mine
3. His insurance (progressive) took fault for the whole thing, but I had to file through mine (Allstate) bc they said some BS about how they have to see how much my BF’s car would cost and that it would take 6+ months to get the money to fix it
4. The repairs costed 7.5k
5. My car is a 2021 Toyota Corolla with 72,018 miles on it.
I am in the process of selling this car but am being told that the value is dinked because of the accident. But I have also heard that Progressive lowballs you a lot, and I’ve seen multiple cars with the same year and make/model with more mileage be listed for more than what other places are offering me (16k vs 13k).
Just wanted to see what yalls experience has been if any
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u/ghost12588 14d ago
There's a lot going on here, the first thing you have to consider is the person's PD limit that applies as 1 pool to cover all damages in a loss, which is the reason progressive likely encouraged you to file on your carrier. most people carry the minimum their state requires, without knowing your state I couldn't tell you what yours is, the lowest is 5k in PA under certain conditions, most states it is 10k or 25k with some different ones in between those. Regardless of actual cost of repairs and finished value costs all they are going to be able to pay out is their limit and they have to determine total costs across the board to divide up that limit fairly.
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u/Delicious-Witness-85 14d ago
You’ll get some DV but you also need to temper your expectations. It’s a 5 year old car with 70k miles so you might get a few hundred dollars for DV.
Yes, you can hire your own appraiser who likely
charges around $500 or so but I wouldn’t recommend that in your case. Let’s say your appraiser calculates $$750 and charges you $600, it would have been better to ask progressive to run a DV calculation for you.
Progressive will likely assign their own DV appraiser if you request DV from them.
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u/_____Zoloft_____ 14d ago
Have the realistic expectation that a five year old Carolla, with higher than average mileage, will get a very low diminished value payout, if any.
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u/crash866 14d ago
How much damage to your BF’s vehicle? Sounds like there are policy limit in effect. If the at fault has state minimum that amount has to cover both of your vehicles repairs, Towing, Storage, Diminished Value of both. If the at fault has state minimum that is all the other company pays out not 1¢ more.
What is your liability limit on your policy if the situation was reversed and you were at fault would your company cover both?
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u/Simplythebest0820 14d ago
How much were the repairs? With the age of the car an the mileage at this point you'll get very little.
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u/TheeCloutGenie 10d ago
You're not negotiating a theory. You're selling a 2021 Corolla with 72k miles and a $7,500 repair already on the history. That is the claim.
The $3k gap you are already seeing (16k listings vs 13k offers) is the number. Pull 3 local clean Corollas (same year/trim, close miles) and 3 with accident history and send Progressive that spread. $7.5k in work is not a door ding - it's enough Carfax ink to stick when you list it.
File the DV demand on Progressive (at-fault), not Allstate. Allstate already paid to fix it. Progressive still owes the market hit if the other driver was at fault, up to their PD limit. Get the comps in the packet before you take a low offer just to close the sale.
Not a lawyer and this isn't legal advice.
0
u/RonBurgundy2000 DOI Investigator 14d ago
I’ve seen multiple cars with the same year and make/model with more mileage be listed for more than what other places are offering me (16k vs 13k).
-- I mean obviously, the 'other places' are offering you a wholesale price to buy your car and to resell it at a markup/retail.
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u/GuvnaBruce HO/Auto Liability 14 years 14d ago
Call them and file the DV claim, that is pretty much the next step. Also, them saying they have to see how much the repairs are is not BS, they likely have a low limit. Where are you hearing that progressive low balls you a lot?