My Vehicle Has Been Repaired, But Now It isn’t Worth As Much! Is There Anything I Can Do?

Even after your vehicle is repaired, the accident can come back to haunt you if you were to try and sell your vehicle. Approximately 55% of consumers surveyed said they would not buy a car that had previously been in an accident and 81% said if they did purchase a previously wrecked vehicle, they wouldn’t consider it unless it was heavily discounted. Any consumer has the resources to determine if your vehicle has been in an accident and chances are the consumer will be discouraged from purchasing your vehicle at the listed price. This results in a loss of value. What most insurance companies don’t want you to know is that you may be entitled to recovered money for value lost through a diminished value claim.

What is a Diminished Value Claim?

Diminished value, or DV, refers to the lost value of a vehicle that has been damaged in an automobile accident even after being repaired. The value of a car that has been in an accident can go down by as much as 40% and sometimes can be so severe that the car cannot be sold as a “certified used vehicle.” A diminished value claim is a claim brought against an at-fault insurance company for loss of value to a repaired vehicle. You may be entitled to more than just the repairs the at-fault driver’s insurance company is paying for.

How do I find out if I have a valid Diminished Value claim?

Call Dan Newlin Injury Attorneys at 800-257-1822. Our experts can determine if you have a valid Diminished Value claim. Florida courts have held that insurance companies are responsible for a loss of value (McHale v. Farm Bureau Mutual Insurance Co.). Don’t be alarmed when insurance companies tell you that they are not responsible for the diminished value to your vehicle. We will investigate your case and establish an accurate diminished value appraisal of your vehicle. Call us today and we will aggressively pursue your claim and help you get the compensation you deserve!