Car insurance claim

[Gubmyster]

I have a question

My car was stolen insurance claimed it a total loss but then in the pay out process said it wa flagged for fraud( spoke with a lawyer and said this was common for car insurances to do since it was a 80k car and had just recently got it within the past year) car was registered total loss on car fax and then was recovered while I waiting for the Insurance to finish there investigation. My car has now lost 20% value because insurance claimed it a total loss and I haven’t got paid a cent for anything.

Do I have the right to have the insurance pay me for the value of vehicle and have them take it ??

Or can they remove the total loss report off of the car fax ??

 

[eljefino]

If you continue to pursue this through your insurance they'll get the money back somehow-- through higher rates later on. I'd take the lump and drop everything.

 

[RhondaHonda]

What state are you in? Contact your state Department of Insurance if you are getting the runaround.

 

[skyactiv]

What I and anyone who'd buy your car will want to see on a CarFax report is "Stolen and Recovered".

 

[Rand]

welcome to bitog.. odd first post for an oil forum.

 

[Gubmyster]

What state are you in? Contact your state Department of Insurance if you are getting the runaround.

Florida

 

[gman2304]

spoke with a lawyer

Sadly….you’re on the right track.

 

[Rand]

Sadly….you’re on the right track.

I think lawyer will eat any savings/good to come from anything.

IF im looking at the carfox and it says "total loss".. you tell them it was stolen and recovered.

ok so lawyer gets the carfax fixed... removed total loss and put stolen and recovered on the carfax.. what is difference?

Well not much. Your car was stolen. are you allowed to pursue a diminished value claim as well?

 

[SC Maintenance]

A quick google search told me Florida allows for diminished value. How exactly you would have to research.

Your next step needs to be to research your state law on insurance, diminished value, and how much time they have to do their fraud investigation.

How long since it was stolen? Has your insurance assigned an agent to you on this claim? What do they tell you?

 

[Owen Lucas]

You can't recover diminished value for a stolen vehicle as this is a claim you make against an at fault 3rd party. Unless you find the thief and get him to pay for this, you get nothing.

Is there any damage to the vehicle?

 

[Doc8404]

I follow this guy. Worth a call.

 

[Owen Lucas]

I follow this guy. Worth a call. View attachment 198729

There is no diminished value to recover here. 1st party insurance does not cover diminished value.

 

[zrxkawboy]

There is no diminished value to recover here. 1st party insurance does not cover diminished value.

That varies by state.

 

[Owen Lucas]

That varies by state.

1st party diminished value is excluded from almost all insurance policies except for those states legally required to allow 1st party diminished value. Those states are Georgia and IIRC NC. Otherwise, ins cos put specific wording in the policy that diminished value is not covered.

 

[zrxkawboy]

So like I said, depends on the state.

 

[Rand]

This is what we have in Ohio.
"Ohio is a diminished value state, which means you may be entitled to the diminished value of your vehicle after an auto accident. You can't submit a Ohio diminished value claim if you were the at-fault party in an accident, or if the damage was caused by something other than a collision."