After a vehicle suffers damage in an accident, its owner will often turn to his or her auto insurance policy to repair or replace it. Unfortunately, a car that has been in an accident is never worth as much as it would be had it not been damaged — even if you repair the vehicle.
You can recover the diminished value of your vehicle. However, getting the insurer to pay you what you deserve is often difficult. A diminished value property damage car accident claims lawyer in West Palm Beach, FL can help.
How Our Attorneys Can Assist with Your Diminished Value Property Claim
The aftermath of a car accident can seem impossible to deal with, especially if you are recovering from serious injuries. Our team wants to take as much off your plate as possible. To allow you to focus on your recovery, we will:
Collect Important Documentation
Our team of diminished value property damage lawyers in West Palm Beach, FL will thoroughly investigate your case. We will collect all the important documents that prove liability and the diminished value of your vehicle. Important documents might include the police report, insurance documents, and a pre- and post-accident value appraisal report of your vehicle.
Determine Your Vehicle’s Diminished Value
The most important step in filing a diminished value insurance claim is to calculate the actual amount of the vehicle’s diminished value. A car with a previous accident on its record will have a reduced value when it comes time to sell. Even if you are not currently planning on selling your vehicle, it is important to receive compensation for this loss.
To determine the exact value, an appraiser will consider the following factors:
- The age of vehicle
- The location of vehicle ownership
- The current mileage on the vehicle
- The vehicle’s previous accident history
- The value of the vehicle before the accident
Arrange Value Appraisal
Our attorneys will use the professional services of a qualified appraiser in our network to determine the pre- and post- accident value of your vehicle.
Communicate with Insurers
Our attorneys will also handle all necessary communications with the at-fault party’s insurance company. The state of Florida legally requires that the liable party’s auto insurance company pays you for the damages acquired from the car accident. This includes the diminished value of your car, too. Unfortunately, this does not mean they will always be willing to do so.
To get away with paying you less, they may offer you a low settlement or trick you into saying something that would invalidate your claim.
We will communicate with the insurance adjuster to ensure that you receive a fair compensation for your diminished value claim.
Types of Diminished Value Claims
There are three different types of diminished value claims to consider:
- Repair-related diminished value: Repair-related diminished value includes the inability to bring the vehicle to its pre-collision state even after repair.
- Immediate diminished value: This is the calculated difference between the pre-accident value of the car and the post-accident value once the insurance company files the claim.
- Inherent diminished value: The inherent diminished value is the amount of value lost after an auto shop has completed all repairs.
Dealing with a Total Loss Claim
It is also possible that the insurance company deems your car below the value that it would cost to repair it. In this case, it often offers a settlement amount based on the current value of your car. This amount usually reflects the outcome of the insurance company’s own appraisal minus the cost of your deductible.
Our team of diminished value attorneys can assist with total loss claims by evaluating your offer, guiding negotiations, and ensuring that you are getting the full compensation amount that best reflects the value of your car pre-accident.
Recovering Diminished Value
At-fault drivers cannot recover compensation for the diminished value of their vehicle following a car accident in West Palm Beach. However, if another party caused the accident, you could be entitled to compensation for the diminished value of your car. We will evaluate your case and ensure that you meet the following legal requirements:
- Filing within the four-year statute of limitations.
- Have vehicle damage that resulted from an auto accident.
- Proof that you were not at-fault for the damages the vehicle incurred.
- Evidence of a loss of value to your vehicle following the accident.
- Ownership of the vehicle involved in the auto accident.
We Can Take Your Case to Court, If Necessary
If the value of the insurance settlement does not reflect the accurate value of your car’s damages plus its diminished value, we will gather the necessary documentation and prepare your case for court.
Set Up a Free Legal Consultation with a Diminished Value Property Damage Claims Lawyer in West Palm Beach, FL
If you were involved in a car accident caused by another party’s negligence and your vehicle sustained damages, you could be owed diminished value losses.
Our diminished value property damage car accident claims lawyers are ready to assist you with your case. Call the Law Offices of Anidjar & Levine at 1-800-747-3733.