Diminished Value Claims Can Add Up

Categories: Diminished Value Claims

When you are involved in an accident in the state of Georgia, and the accident is not your fault, you may be eligible for a diminished value claim.

A diminished value claim takes into account what your car is worth before an accident, and what is worth after an accident. Even if your car is completely repaired and you can’t tell there was ever damage, the fact that it was involved in an accident means that it is worth less money than before the accident.

If you’re scratching your head at the concept, and are thinking, “No one ever told me that before,” there’s good reason. Insurance companies don’t necessarily want you to know that your car is not back to 100 percent. If a claim has been paid and a car is repaired, they want you to be perfectly satisfied. However, things are not “status quo.” if you pull a report on your car (a Carfax) for example, you may find that the details of the accident have been reported and your car is now worth less when you go to sell it or trade it in.

To help take care of that loss, insurance companies in Georgia may be required to pay you a diminished value claim. You may not find clear information about these types of claims anywhere within your insurance literature, but it’s definitely worth checking out.

At the Law Offices of David Van Sant, we help accident victims deal with all the complexities that arise from car and truck accidents in Atlanta. If you believe you may be eligible for a dminished value claim, or if you are having trouble with an insurance company or another driver, contact us and we will help.