The insurance industry hopes you think not. They save more than a Billion dollars a year avoiding payment on these claims. The answer though is YES!!! Most people that are diligent in pursuit of their loss end up collecting. Do not give up.
The claim against that individual likely still exists, though the ability to collect may be very difficult. Most people that do not carry automobile insurance do not have the means to pay on any claim including that of diminished value.
In most states the answer is NO. The claim is governed by the language of the insurance contract and it is with very limited exception such as in States like Georgia & Washington where the claim can be presented and paid.
That will happen more often than not. Get him to confirm that the reason he would not do so is the dealership has no interest in buying the vehicle due to the automobile damage involved. Make sure to get his card. This denial may bolster your diminished value claim.
We recommend doing so. When and if you do so, make sure to disclose the extent of the repairs performed. Ask the salesman to tell you what he would have paid for the vehicle if it hadn’t been involved in an accident. Ask him to put both quotes in writing.
Trying to trade in or sell your vehicle at a dealership. It is testing the marketplace for the value of your depreciated vehicle.
Many insurance carriers will argue no. They will say that you have not realized a loss. The question is a matter of proof. Do you have evidence of the loss? If your post-repair expert has done a good job documenting why the vehicle is worth less you should be able to get paid on the […]
What if the post repair expert finds poor repairs or work that was never performed that should have been?
Though every case is different we recommend giving the shop that did the original repairs the opportunity to right the wrong. You may have a claim for repair related diminished value in addition to the inherent loss if the car is not eventually repaired properly.
An inherent loss of resale value claim does not necessarily require an inspection. Implicit in the claim is that the vehicle has been repaired properly and meets industry standards. How does a post-repair expert know if the vehicle has been repaired to industry standard though if the vehicle has not been inspected? He cannot. We strongly […]
Most attorneys will not even consider handling a diminished value claim. Those like our injury attorneys at Wattel & York work on a contingency basis taking a percentage of the amount collected only once the claim has been settled. A phone call to Wattel & York cost nothing. The call is free and the consultation is as well.