Tips from a Car Accident Lawyer on Making a Diminished Value Claim

Paul Schrieffer

Road accident takes place every now and then, and among them, car accident or any other vehicle accident is the very come phenomenon that you can notice anywhere at any time. No matter what where would be the cause of the accident but the damages that are caused by accident in your vehicles can never be fixed to its original condition. Therefore you will go to get diminished value when you will going to resale your car as it has met with an accident. Thus diminish value means that you are going to sell your vehicle ultimately at lesser price value as it is being evolved in the car accident.

Thus Paul Schrieffer advice you to it better claiming for your accidental car then claiming for your property damage which they can consider it as their main concern. Given below are three tips for a car lawyer on making a diminished value claim:

Ask for your property damage claim at your intake

Especially, in this case, there is always blackness of financial incentives to handle the property damage claims, this turns out to be the major reason when maximum personal injury lawyers refuse to help their clients in such cases. Whereas many other like Paul go with the opposite approach and many times even handles their clients free of charges as well as advise them to go with property damage claim rather than the car accident.

Understand diminished value is determined

According Paul Schrieffer if you wish to determine diminished value in a simple manner through insurance company fighting for it. Then just by going with simple calculation in which you have to subtract your fair market value of repaired vehicle from fair market value of your car before accident you can get the exactly diminished value. But always keep in mind that insurance companies always follow a different procedure.

Cost of repairs and the age of your car matter

Last but not the least you have to keep in mind that the amount of your diminished value will increase the amount of repair that your car needs. Also, ensure that if your car is more than 5 years old in age and cost you less than $3000 then you must not go for it as this will not be cost effective.

These were the three points provided by Paul Schrieffer for a car accident lawyer on making a diminished value claim to assure guaranteed return.