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What is a Diminished Value Claim?
Posted on October 18, 2017 Written By: iadminlaw
Following a car accident, drivers may wish to file a diminished value claim—but what does this mean, exactly? And what possible benefit could it serve? Here are some guidelines on diminished value claims from I Accident Lawyer and our team of San Diego car accident lawyers.
Eligibility for a Diminished Value Claim
For starters, make sure you understand what makes you eligible for a diminished value claim. You can file a diminished value claim just so long as you meet all three of these points:
1. You were in an accident;
2. You own the vehicle that you were driving during the accident;
3. You were not at fault for the accident.
Again, so long as you meet all three of these points, you can potentially file a diminished value claim.
Filing a Diminished Value Claim
To file a diminished value claim, it’s often best to find a diminished value appraiser. If you need to be connected with a good, reputable one, reach out to our San Diego car accident lawyers any time.
This appraiser can provide you with guidance in receiving the compensation you need to cover your vehicle’s diminished value. Here, basically, is what that process entails, according to our car accident lawyers in San Diego.
1. First comes the appraisal. Following a rigorous inspection, your appraiser will provide you with an estimate of how much value your vehicle lost due to the accident. Your appraiser will also furnish you with a proof of loss report, which will be necessary for getting your claim accepted. Again, reach out to our San Diego car accident lawyers if you need help with this step.
2. The second step is to submit that proof of loss report. This should be submitted to the insurance company of the at-fault driver. Again, we highly recommend you do this with guidance from our expert car accident lawyers in San Diego.
3. From there, the final step is receiving your settlement—though of course, it’s seldom that easy. Typically, you’ll have to fight the insurance company over this, though what we really recommend is letting I Accident Lawyer fight for you.
Fighting for Your Diminished Value Claim
Never forget that, for any driver who fits the criteria above, filing a diminished value claim is always your right. But also remember that, for the greatest odds of having that claim accepted, you’ll want to file as soon after the accident as possible. And, you’ll want to do so with a San Diego car accident lawyer in your corner.
That’s where I Accident Lawyer comes in. We work hard for drivers who have been injured in car accidents, and fighting for your diminished value claim to be accepted is just one of the ways we can help. We only represent drivers—not insurers—and we only get paid if you get paid. We would love to offer our guidance in any matters related to diminished value claims. To start a conversation with us, reach out today.
