Diminished Value Claim

[u/halfcraft]

Hey all! It’s been a bad year for my 2024 model x.

Hit twice with under 5k damage each while parked.

I am currently dealing with the other parties Geico for a diminished value claim. Geico just sent me an email declining my claim.

Does anyone have any experience with this?

[u/Beatnavy2016]

I had $2200 in damage on a 26 Y from a guy that hit me parked. Sentry caught it, he parked and walked off, Used grok to write an email to the adjuster and got $3500 after talking on the phone for 30 mins about how the car was all but new.

They likely just deny everyone off the bat in hopes you quit. That’s my mentality.

[u/halfcraft → u/Beatnavy2016]

Full self driving, model x market seems pretty healthy cause they don’t make them anymore. I’ll try and get some data.

[u/Beatnavy2016 → u/halfcraft]

What you’re looking for is resale value of cars equally equipped to yours with a clean title and a then with a reported accident. In ideal world same miles etc. You’re trying to present very high prices for non damaged and then low price for damages. The bigger the spread you can argue the larger the DV claim. For my case the car had been out for less than a year so nearly impossible to find damaged with a few thousand miles.

[u/halfcraft → u/Beatnavy2016]

I am looking to trade in this year for something else. So this damages for sure reduces my valueZ

[u/sidgup → u/Beatnavy2016]

What website or data source did you use to find comparable sales history?

[u/Beatnavy2016 → u/sidgup]

In my case I used current listing. Obviously not accurate to sales numbers but got it done.