This post is the third in our series on Diminished Value Claims. As we’ve discussed in this blog, diminished value is the loss in value of your car after an auto accident.
Diminished Value takes into account the fact that, research shows, consumers will only be willing to purchase a car that has a documented wreck history if it is significantly discounted. That “significant discount” is the loss you have incurred as a result of the accident: it’s the real costs that go beyond the cost of repairs.
In pursuing a diminished value claim, it is critical that your documentation is in order. You need to make sure you keep copies of all repair records, which show the type of damage sustained, the type of parts used for repairs, and the number of hours required for labor.
A personal injury attorney can help you find an independent auto appraiser who can assess the quality of the repairs on your vehicle, look at paint discrepancies, and determine if inferior parts were used. If the car now makes new noises or drives with less precision, the appraiser will document that and assess the diminished value as a result.
Insurance companies have 60 days to respond to Diminished Value Claims. If the insurance company does not respond, or if it responds with an offer for less than your independent appraisal, contact an attorney.
Attorneys in the Law Offices of Van Sant Law can help you get the money you deserve from your diminished value claim. Contact us today for more information.