Progressive insurance and diminished value in Georgia - Road Glide Forums
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post #1 of 18 (permalink) Old 12-11-2012, 05:16 PM Thread Starter
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Progressive insurance and diminished value in Georgia

I recently posted that I had struck a deer at 45mph with my 2010 Roadglide. The bike never went down but the damage totaled over $11,000. I took the check and what was left of the bike and traded it in on a new '13 RGU.

I contact Progressive and ask for a diminished value payment. Georgia is one of few states that offer this. They started out by saying there was no diminished value as all of the painted/damaged parts were being replaced. I explain to the rep that if somebody had 2 identical bikes and put them up for sale, one that had never been damaged and one that had over $11,000 in damage, that I doubt too many people would pick the 2nd bike or pay the same price for it.

He then comes back with a $300 offer a few days later. I told him to go ahead and keep that check as I wouldn't be cashing it. He asked what I thought would be reasonable. I told him that I believed the bike value was diminished by a few thousand dollars but that I would be satisfied with a check for $1,000. They have now decided there is no diminished value because all damage parts were replaced.

I went through this before with a car and ended up using an attorney to recover the settlement. Looks like I'll be going that route again. It's not really so much about the money as it is them doing the right thing. They were sued not too many years back for the same thing but apparently not much has changed.

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post #2 of 18 (permalink) Old 12-11-2012, 05:40 PM
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post #3 of 18 (permalink) Old 12-11-2012, 06:15 PM
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Question

This is news to me!
Where do you find a list of the states that are supposed to
honor "diminished value" does anyone know? Sharkbite??
You make a very good point though Sharkbite!
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post #4 of 18 (permalink) Old 12-11-2012, 06:38 PM Thread Starter
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I don't know of a 'list', however if you research diminished value online you'll probably come up with a ton of information.

My understanding is Georgia, Kansas and Washington are the 3 states from which you can collect diminished value, even if you are the at-fault driver. It is also not supposed to have any impact on your rates in itself. I believe all other states you are entitled to it if you are struck by somebody else that is at fault.

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post #5 of 18 (permalink) Old 12-12-2012, 02:19 AM
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new one on me

please explain this concept

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post #6 of 18 (permalink) Old 12-12-2012, 04:00 AM
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Quote:
Originally Posted by JacktheBagger View Post
new one on me

please explain this concept

JtB
http://en.wikipedia.org/wiki/Diminished_value

http://wiki.answers.com/Q/What_are_t..._laws_by_state

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post #7 of 18 (permalink) Old 12-12-2012, 06:46 AM Thread Starter
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Thanks hell....good links that sum it up pretty good

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post #8 of 18 (permalink) Old 12-12-2012, 01:14 PM Thread Starter
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Contacted my attorney with a quick email about the damage etc...his response:

Total horseshit - you are absolutely entitled to diminished value. Send over all the info: claim number, adjuster, etc

I love my attorney....it'll take me a bit to get the info to him 'cos of working double-shifts the next few days but it's so much easier to put stuff like this in his hands

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post #9 of 18 (permalink) Old 12-12-2012, 04:01 PM
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just out of curiosity, did the dealer offer you less on trade than he would have if you hadn't hit the deer? and how much less?
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post #10 of 18 (permalink) Old 12-12-2012, 05:27 PM
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so basically if they pay you say $11000 for the bike and it's worth $13000 before the wreck , then they owe you the $2g diff ??

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