How to Claim Diminished Value After a Car Accident

Car accidents are expensive for a myriad of reasons. You’re dealing with more than your own injuries, after all. The damage done to your car demands repairing. Even then, your car may never be worth the same amount it was prior to your accident.

What are you meant to do in the face of a permanently-diminished vehicle? You may have the right to claim diminished value after a car accident. The party responsible for your losses may have to make up the difference between your car’s original value and its diminished worth. You can discuss this possibility with a personal injury attorney.

Different Types of Diminished Value Claims

Car accident victims often have the right to file diminished value insurance claims in the wake of accident losses. These claims ideally help accident victims make up the difference between their car’s original value and its current state.

That said, there are three kinds of diminished value claims that you can file with an applicable insurance company. It’s up to you and an attending expert to determine which of these claims best suits your purposes. The claims include:

• Immediate diminished value claims, helping you recover damages prior to your investment in any repairs
• Inherent diminished value claims, allowing you to repair the vehicle to as close to its original state as possible
• Repair-related diminished value claims, which contend with both losses from your accident and losses due to inappropriate or improper repairs

Ideally, you don’t want to have to contend with a repair-related diminished value claim, as that means your car may be in even worse condition than it was after your accident. Should you find yourself contending with an ineffective mechanic, however, this kind of claim can help you better address your losses.

Calculating the Value of a Diminished Value Claim

When determining which of these claims to file and to what support you may be entitled, you need to do a bit of math. Specifically, most insurance agents can help you determine the original value of your car, its post-accident value, and what claim might merit you the most support.

That said, many insurance companies often prioritize their bottom lines over your recovery. As such, an applicable insurance company may try to short you when addressing the full extent of your losses. If you’re struggling to cooperate with an insurance provider, you can reach out to a personal injury attorney for additional guidance.

Personal injury attorneys do more than help you calculate the value of your diminished property claim. If an insurance provider attempts to deny a claim that you file, an attorney can stand with you as you take your case before a judge.

Personal Injury Claims and Your Car’s Diminished Value

After a car accident that significantly diminishes the value of your car, you may have the right to pursue a personal injury case. These cases allow you to demand that the party responsible for your accident help you contend with the financial strain of your recovery.

If it turns out that an insurance provider doesn’t want to support you as you try to regain your vehicle’s lost value, a personal injury attorney can help you make up the difference. You can work with a personal injury attorney to discuss how to hold an insurance provider to the promises they made regarding your post-accident protection. At the same time, you can explore your right to action against other parties.

The Law Offices of Scott Sobol Want to Work With You

There’s a good chance that your car won’t be worth as much as it once was after a car accident. You can work with a personal injury attorney to ensure that an insurance provider acknowledges your car’s diminished value and helps you contend with your post-accident finances.

For more information about how you can pursue compensation for your car accident losses, contact The Law Offices of Scott Sobol. Call us at (954) 440-2000 or reach out online to arrange your free consultation.