A diminished value lawyer can help car accident victims who are seeking compensation for the loss in the resale value of their vehicles. Depending on the vehicle type and damage, this claim could add up to several thousand dollars in additional compensation. A diminished value attorney can also negotiate with insurance companies on behalf of the victim and make sure that all damages are fully addressed.
The first step in a diminished value claim is to hire a qualified expert who will thoroughly inspect the vehicle and prepare a report. This is a significant expense that must be taken into account when determining whether or not pursuing a diminished value claim makes financial sense. Before selecting an appraiser, individuals should ask about previous diminished value claim awards and the average percentage of claims successfully recovered. Additionally, the expert should be able to answer any questions regarding their fee structure.
Once the expert’s report is complete, an experienced diminished value attorney can use this evidence to negotiate with the insurance company. The goal is to get the insurance company to acknowledge that there is a loss in resale value and offer a fair settlement. This is a difficult task and it is typically easier for an experienced diminished value attorney to achieve this goal.
Diminished value is typically not covered by the responsible party’s auto liability policy. However, it may be covered under the uninsured/underinsured motorist property damage (UMPD) portion of your own insurance policy. This coverage acts like third-party liability coverage and would pay out on a diminished value claim in the same way that the at fault driver’s insurer would.
Regardless of which policy pays for the claim, an experienced diminished value attorney can ensure that all necessary damages are addressed and paid for. This includes resolving any disputed issues and making sure that all relevant documents are submitted accurately. It is important to submit a diminished value claim correctly in order to receive the maximum amount of compensation.
If you are in a vehicle accident that was not your fault, contact us for a free consultation with an experienced diminished value lawyer. Our team can evaluate your case and determine if you have a diminished value claim that should be included in your bodily injury claim.
Insurance companies will often use an outdated formula to offer a low-end diminished value settlement. We will fight for you to receive a more deserved competition.
A diminished value lawyer can help you get the compensation that you deserve for the loss in resale value of your vehicle after an accident. Contact Negretti & Associates for a free diminished value claim evaluation in Arizona, California, and Colorado. We are available to discuss your claim in person, over the phone, or by email. Each case is unique and results will vary. However, we can promise that your case will be handled with compassion and skill. Call now to schedule your free consultation.