Auto Insurance Claims: diminished value, diminished value, party insurance

Question
follow up question to diminished value you mentioned In the case of a repairable vehicle you get cost of repairs, loss of use, and diminished value, as to the loss of use is that provide for in the form of a rental vehicle while mine was being repaired? is the cost of my appraisal recoverable in addition to the offer they've given me? it took them about 8 or 9 months after the accident to make me an offer am i entitled to any interest on the settlement amount? thanks mike omlor

Answer
Michael,

   That is a tricky question.  Since I am not an attorney, I will not attempt to quote any applicable law or statute, but I will say how that generally works.

   The cost of the appraisal is generally classified as a claims expense, and expenses are not recoverable.  As for the interest. . . Interest is something that is charged on a debt that is owed, so it first has to be officially owed.  If one settles a claim without litigation, then they can surely agree to be paid for interest if the at fault party / insurance carrier agrees, then no problem.  If the claim is disputed, which most are, then interest is a questionable claim.  In order to completely tie down interest, there needs to be a judgment that says for sure, one party owes the other.  Included in the judgment can be pre and post judgment interest.  

   Basically, if a court says that you should have been paid by way of granting you a judgment, then you are entitled to interest from the time that the claim should have been paid up until it is actually paid.  Make sense?

   That is a hard question to explain.