Truck Accident, Repair Affect Worth?

[xwing]

What would you do?

My truck got T-boned by an idiot who ran his red light. He was going about 40-45 mph in a Jeep Grand Cherokee and hit my rear extended cab door and the area behind it to the wheelhouse. $10,000 damage has been repaired by GMC dealer. They used a bed side welded onto the old bed; I am worried about rust starting at the welds etc. They used one new door and wanted the other used; but the used one insurance found didn't fit straight so dealer got a new one (cheaper than the used one anyway!) The frame supposedly wasn't damaged; I hit my knee some on the console as the truck spun around the intersection (!) but was otherwise ok. I drove it away after the police came, and it seems to drive ok.
I had just put new Bridgestone Revo's on and had it aligned; I am going back to Tires Plus to have them recheck the alignment to assure no frame damage/tweaking independently, and see if the tires got any flatspotting.

Question: How much might this reduce the resale value of the truck? My insurance paid for fix but is going after their insurance, but they want to stick me with MY $250 deductible. This got me mad because no way am I paying ANY money to have somebody smash into my truck, and maybe decrease its value besides.

I haven't gotten any lawyer or thought about any lawsuit until they are trying to stick me with the deductible and didn't check the alignment etc, and now that got me thinking, if it takes a few thousand hit in value besides, I might lawyer up. I hate that idea, my knee isn't bad but my truck was FINE before this.

2001 GMC Sierra 2500HD SLT ExCab Longbed

[SoCal_XJ]

Don't worry about your deductible. Once your insurance completes the subrogation process with the other party's insurance, your insurance will (or should) send you back your deductible. Why they don't waive it if the other party's insurance accepts liability I never understand.

As to the decreased value (aka, diminution in value), here in CA you can also make a claim for such damages, even though the repairs were made and are satisfactory. Any future buyers of your vehicle will probably decrease the value of it, knowing it had been in a significant accident. You should check the law of your particular state to determine whether such a claim is allowed.

Now, there's two caveats about making your diminution in value claim (assuming the law of your state so allows) (the following is based on CA law and may be different in your state)
#1 - I have never had an insurance company (the other party's) accept such a claim on behalf of one of my clients. I have always had to litigate them. Factor in the cost of hiring an appraiser, court costs, and attorney fees (CA law is that each party pays their own) and it may not be worth it.
#2 - If you don't sell your vehicle now, the actual diminution (DIV) amount decreases with time (unless your vehicle is truely a collector's car). For example, let's say you take your vehicle to an appraiser who says vehicle would be worth $20k w/o accident, and only $15k because of accident. Your DIV claim is $5k. But you decide to keep the vehicle. Have you lost anything? IMO, no. So long as the vehicle operates normally, then the fact that it's worth less is not a loss to you.
3 years from now, you go to sell the vehicle, and appraiser says its worth $12k, but because of accident you can only sell it for $10k. Your DIV claim therefore is only $2k. (keep in mind you may have already past the Statute of limitations at that point. CA is 3 years for damage to property)

So making a Diminution In Value claim is an uphill battle. In the past, I have done so for clients with very valuable cars, collector cars, etc. Where the difference is $10k or more.

Good luck

[Craig M]

Had a similar situation in California. Kia pulled out from behind a large truck and ran into the front of my dually. I had insurance, they did not. Their car was totaled, I drove mine home. I am currently arguing the value of a low mileage good condition 1982 dually (they say $1,300, I say $4,000/5,000) with my insurance company. I am stuck with my $500 deductable. I guess I could go to small claims court to try to recover the $500 from the Kia owner or the driver (two different people).

[DA BIG ONE]

After all the worry about value loss after an accident I decided my burb is a keeper, don't even worry about all the scratches/dings/dents that seem to happen off road now.

I actually ran up and over a dodge neon which hit me almost headon. $18,000 insurance dollars later and yes they had to pay my deductable too I have tweeked the burb close to my liking.

After front suspension/differential getting ripped out of truck I worried about the chassis, but it's ok!