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What is a Diminished Value Claim?

Posted on October 18, 2017 | Written By: iadminlaw

What is a Diminished Value ClaimFollowing 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

Fighting for Your Diminished Value ClaimNever 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.

News Service Disclaimer: i Accident Lawyer provides this news service to keep you informed about accidents and events happening in and around your community. The information in these articles is obtained from a variety of secondary sources including press releases by law enforcement, websites, and news reports. This material is for general information only and its accuracy cannot be guaranteed; for complete details about a given event or accident you should refer to an official police report. i Accident Lawyer may not represent the parties mentioned in these news articles. If you have been injured in the reported news article and you need our help please call, we can help you. The articles are for informational purposes only. Our law firm has been helping victims of serious injuries and their families for over 30 years. Call us for a free, no obligation consultation.

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