We have extensive experience with diminished value cases.
What is diminished value?
Diminished value is the difference between a vehicle’s market value before and after a crash. If your vehicle suffered damage in a collision caused by someone else, it will likely be worth less, even if it has been repaired. There is often a stigma attached to vehicles that have been damaged previously. Helping people recover this loss of value is what we do.
How is diminished value calculated?
Whether your vehicle suffered diminished value is based on a variety of factors, including:
- Year, make, and model of your vehicle
- Extent of the damage
- Type of damage
- Quality of the repairs
- Quality of the replacement parts
- Signs of repair
- Impact on the manufacturer’s warranty
- Prior history of damage
These and other considerations each play a role in determining whether, and to what extent, your vehicle suffered a loss of value.
How do I know the amount of diminished value my vehicle has suffered?
If we accept your case, our office will work with an experienced auto appraiser to determine the exact amount of your diminished value claim.
How do I get compensated for diminished value?
We will make a diminished value claim on your behalf against the at-fault driver’s insurance company. If you were hit by an uninsured driver, we will review your auto insurance policy to determine if diminished value coverage is available. If so, we will make a claim against your own insurance carrier.
Our office will draft the demand letter on your behalf and represent you in any negotiations. If the insurance company refuses to treat you fairly, we can file a lawsuit to hold them accountable. Having an attorney on your side can make all the difference when it comes to dealing with an insurance company.
How much does it cost to have your firm represent me?
We always provide free consultations. We also handle diminished value cases on a contingency basis. If we obtain compensation on your behalf, our fee is a percentage of that amount. If we don’t recover any money for you, you do not owe us a fee. In certain cases, we can also compel the insurance company to pay our fee in addition to the diminished value compensation you receive.
Will I have to go to court?
In many cases, we are able to reach a settlement with the insurance company without you ever having to go to court. If the insurance company refuses to treat you fairly, however, we can file a lawsuit and take the case to arbitration or trial. If that happens, we will be there to guide you through the litigation process.