My wife and daughter were in an accident today and both are just fine (thank God!). However, our car is NOT.
We bought a 2004 Toyota Camrey SE V6 three months ago and it has a mere 4,000 miles on it
and my wife loves it. Well, today she was T-Boned by a 17 year old girl with her head up her ass. The initial estimate places the damages at around $9,000. The body shop guy said that would not "total" it and in all likelihood the insurance company would want to have it repaired.
Needless to say, I am very, very upset about this. My wife takes GREAT care of her vehicles and the Camry is supposed to hold it's value very well so we splurged and got a nice one with V-6, moon roof, leather, and all of that... Nice, I tell you. A friend has a Lexus and there are very few differences IMO. I counted on the fact that it would maintain it's value.
Anyway I really am at a loss. As a Deputy, I have never worked wrecks nor have had one I had to deal with insurance companies on. We are insured by Alfa, the girl with State Farm.
I do not know if I should claim through my company or hers. I have been told that it is often easier to go through yours as they know they will recover through the other company but that it could "count against you" an possibly lead to higher rates. Plus there is the deductable and in my case, no rental car (although that is of secondary concern as we have my truck and department vehicle).
I am VERY concerned about the loss of value in the vehicle and have heard a bit about "diminished value" payments made by some insurance companies to cover the loss in resale value.
Does anyone have experience with this type of crap? I am particularly interested in info on diminished value claims.
Thank you very much!