Diminished Value in Nebraska?
Posted 19 December 2012 - 11:58 AM
Posted 19 December 2012 - 10:31 PM
Posted 20 December 2012 - 09:05 AM
Posted 20 December 2012 - 01:30 PM
A couple of examples: Let's say someone pays you $3,370 for "diminished value" but you never trade-in or sell your car because six months from now, it is destroyed by a meteorite. In such a case, you never actually suffered the damage in question, so you were paid for damage you never suffered. Or, let's say that you keep your car for another 20 years and that, at that time, the diminution of the car's fair market value because of the accident in question is only $25. In such a case, for only $25 worth of damage, you not only received $3,370, but you also had the ability to invest that money and earn potentially millions of dollars in return.
Those sorts of things are why resistance exists to the notion of paying "diminished value." You're not going to hold onto the money and give some of it back if you don't actually suffer the damage, are you? Why not have the money deposited into an account that is held in trust, to be paid to you only when and if you can show sufficient evidence of the damage? Because of the second possibility mentioned above, why shouldn't you get $25 discounted to present value based on the expected inflation rate between now and 2032?
Anyhow, it may well be that you can recover the $3,370, but you'll have to do some research and/or hire a NE lawyer to research it for you or file a small claims suit.
P.S. It should be the body shop, not the insurer that warranties the work.
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