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Larry,
Lance here. Diminution of Value is very difficult to establish because, while it is a phenomenon, you can only realize (and therefore irrefutably establish) the loss when you trade in or sell your vehicle.
Here in Florida... there is fairly well established precedent that in the case of third party claims (ie.. your claim against the person who caused your damages) DV is to be paid. Diminution of Value is considered therefore to fully indemnify you.... in other words return you to your prior condition. For first party claims (your claim with your insurance company) most insurance policies now EXCLUDE diminution of value.
When I was a claims manager many moons ago, we paid Diminution of Value on third party claims... but denied them on first party claims.
My suggestion would be to push for a total loss of your truck. That way your insurance company will pay you the ACV, or market value, for your area.
Actually in Y2K3SRT's example above he was probably lucky that the other party had the same insurance as him.... otherwise he most likely would not have received the diminution of value check.
You see the first party side (you against your carrier) is dictated by contract. In Florida 99% of the carriers have changed the language of their policies (the contract) to EXCLUDE Diminution of Value. Therefore you can argue until you are blue in the face and monkeys fly out of your ass... you will not get Diminution of Value.
On the other side..... in a third party claim..... the rules are governed by legal precedent and indemnification of your damages. In that arena, Diminution of Value cannot be summarily denied. You will have to follow a similar avenue of documentation as the example above..... but it has to be considered or you can get an attorney to argue that fact for you. If the company insists that the vehicle is NOT a total loss. Then I would pursue Diminution of Value agains the insurance company of the individual who caused the accident.
Again... in Florida... against your own carrier you will (with 99% certaintanty) NOT get Diminution of Value... agains the at-fault parties carrier you have a high likelihood of receiving DV if you fully document the Diminution of Value amount.
Good luck... and if there is anything I can do to help.... call me.. you have my number.
Thanks,
Lance
 
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