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3 VALUABLE POINTERS ON DIMINISHED VALUE CLAIMS FROM A PERSONAL INJURY ATTORNEY

An experienced personal injury attorney in West Palm Beach has handled a wide range of claims over the years and as a result, they have a number of valuable pointers to provide on matters pertaining to car accidents and the vehicle damage that they cause.

Diminished value claims are common once the accident victim is aware of the devaluing of their vehicle and their inability to restore the automobile to its former condition. Read on to learn more about the following helpful tips for your diminished value, as provided by a personal injury attorney in West Palm Beach.

  1. Car Accident Attorneys Are Not Always Able To Help

When it comes to handling claims that involve property damage, there is precious little financial incentive for a car accident attorney to do so. As a result, you may struggle to find a personal injury attorney that is willing to take on any property damage aspects of your case.

However, there are car accident lawyers who are willing to take an opposing approach, so be sure to speak with a variety of legal representatives in your area, as there may be lawyers who can take the case on a contingency fee basis.

  1. Develop a Greater Understanding of How Diminished Value Determinations Are Made

An insurance company will usually dispute any diminished value claims that you make, so it behooves you to take the time to learn more about how diminished value is determined. For those who are unfamiliar with these determinations, it is the value of the car before the accident took place minus the vehicle’s remaining market value after the accident.

The insurance company is not going to use the same calculation, so you must take this factor into account. If you would like to safeguard yourself against faulty calculations, be sure to hire a talented attorney who is willing to take on the insurance company and fight on your behalf.

  1. The Age of the Vehicle and the Cost of Repairs Are Crucial Factors

If your car needs a sizable amount of repair, this will be factored into the diminished value claim and the age of the vehicle is another key factor. While most motorists seek diminished value claims whenever their vehicle has experienced an accident, there are numerous instances where this may not be the best idea.

For example, if the vehicle is more than five years old or the damage that has taken place totals over $2,500, it may not be in your best interests to pursue a diminished value claim. Each and every claim will have its own facts to consider and when you are deciding whether to pursue one of your own, take a moment to speak with a knowledgeable attorney.


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