How does that work?

If a nice new G Coupe got in a couple accidents (say it was hit while parked and thus the reported claims were not the owner's fault), is it true the owner can ask for the ins company to cover the loss of value the car would have in resale due to the repairs/accidents noted on Carfax and possibly noticeable in person??

I heard someone mention such a thing on another car forum a few months ago but they didn't really explain it or say if it's something just one ins company offers or all offer (they just mentioned they will be claiming it).

Thanks.

 

I'm not sure that I'm following you completely, but if you are a victim of a hit & run accident you can file on your own policy. The person at fault is responsible, but the bottom line is that your policy covers damage to your vehicle except as outlined in the policy exclusions. Even if you know the person responsible, you don't have to wait for their policy to pay for your damage. Your insurance company's obligation is to pay according to your policy. They can then seek subrogation from the insurance company of the person who is at fault after the fact.

As for asking them to pay for the difference between a damaged vehicle's resale value and one in perfecct condition... ...good luck with that. Their responsibility is to repair the car to pre-accident condition, not compensate you upon sale for the damage you never claimed.

You might check to see if you have a time limit on reporting claims.

 

Sorry if it wasn't clearly written. I'm well aware of how to report a claim and get damage repaired. What I am asking about is something I heard someone mention a while back - that their insurance company essentially had a policy that offered compensation beyond simply the cost of repairs but also to compensate for the loss of value in resale of the car due to it having had repairs done for damage that was not the fault of the owner. I'd never heard of that before so I am curious if anyone has more information about such a policy.