Insurance Policy you may not know about

[Ransom]

I got rear ended last week and just got my Jeep back from the body shop. Nothing too bad and the lady's insurance, State Farm, took care of everything.

While on the phone with my insurance company, USAA, they told me about a reimbursement for the depreciation of my Jeeps value. (You have to ask about it because they will not bring it up) Basicly, down the road if I ever decide to sell my Jeep it will go for less due to it having an accident on it's record and I should be paid out that depreciation amount. Which I then called up State Farm and set up the claim for it.

Just in case anyone was in the same shoes as I was and didn't know about it. If you had an accident that you were not at fault for you may still be able to be reimbursed for the depreciation of you vehicle. Each state has it's own time limit for making the claim, ususally ranging from 1 to 3 years. I had a website a few days ago listing out each states time limit, but I can't find it again sorry.

Just an FYI

 

[ChevyFazer]

That's good info!!! I already knew about it and if you push it you can go ahead and get a check now for the diminished value, or at least you can where I live. My mom was in 2 accidents recently and received a check for both of over $2,000 in diminished value

 

[Ransom]

That's good info!!! I already knew about it and if you push it you can go ahead and get a check now for the diminished value, or at least you can where I live. My mom was in 2 accidents recently and received a check for both of over $2,000 in diminished value

What do you mean "push it"? Right now I am waiting on the claims adjuster to call me.

 

[ChevyFazer]

Well to be honest I think she had a lawyer get involved, but basically they told the insurance company that they plan on keeping the car and since she is still paying on it and it's no longer worth what she is paying she demanded a check for the difference, so when I say push it tell them you want it now

 

[ChevyFazer]

I think I misread your post, and I was thinking you said that you will get a check when or if you go to sell your car...

 

[Ransom]

Still good to know. Yeah, I am starting the claim now. It's a new jeep patriot and I haven't owned it for a complete year yet.

 

[motojoe122]

Is that the same thing as GAP insurance?

 

[ChevyFazer]

Gap insurance is through your financier, this is from someone else damaging your vehicle and their insurance pays you for it