If you were involved in an accident in Savannah, the chances are good your vehicle suffered some damage. The damage to your vehicle could have a tremendous impact on your financial situation, including in ways you might not expect.
In addition to the cost of repairing your vehicle, you could also face a sudden and unexpected loss in the value of your vehicle. The good news is that a Savannah property damage lawyer could help you pursue compensation for the diminished value of your vehicle. A Savannah diminished value lawyer from Kaine Law can take care of your entire case.
What Is a Diminished Value Claim?
According to our Savannah personal injury lawyers, a diminished value claim is a type of property damage claim. While property damage cases usually involve the cost of repairing or replacing a damaged automobile, diminished value claims are different. This type of case involves a decrease in the value of your motor vehicle—regardless of whether or not it has been fully repaired.
When you successfully establish that you are entitled to compensation for your property damage, the law requires insurance companies to take into account your decreased value. This involves compensation based on the difference between what your vehicle was worth prior to the accident and what it is worth now.
Cars and trucks are depreciating assets. That means it is anticipated that they will lose value over time. Older vehicles are more likely to break down, and this likelihood is factored into vehicle estimates for older vehicles. While you could receive compensation for the diminished value of your vehicle, you are not entitled to compensation based on depreciation. This is because your vehicle would have depreciated whether you were in an accident or not.
For a free legal consultation with a diminished value claims lawyer serving Savannah, call 404-214-2001
What if I Disagree with the Insurance Company?
When you deal directly with insurance companies in a diminished value claim, the adjuster for the insurance company will provide you with a valuation of your vehicle. This calculation will involve a formula selected by the insurance company, and the adjuster will often imply that you have little choice but to accept their offer. That is not the case. If you disagree with the valuation provided by the insurance company, you do not have to accept their offer.
One of the challenges in these cases is that insurance companies use unfair and unreasonable calculations to settle your diminished value claim. Often, they will offer no more than 10 percent of the value of your vehicle regardless of what your vehicle is worth to you.
Savannah Diminished Value Claims Lawyer Near Me 404-214-2001
Our Firm Could Simplify Your Case
Pursuing a legal case on your own can be stressful. There are many complicated aspects to a property damage case, and diminished value claims can be especially challenging. Thankfully, you never have to take on these challenges on your own. Our attorneys could help you navigate the process in a number of ways:
Review Insurance Policies
The terms of the insurance policies that cover your accident are important. Before you can file a claim for diminished value, it is important to understand what kind of coverage is available. The language of these policies is not always clear, and in some cases, they can conflict. Our firm could ensure you are clear on the coverage in your case.
Assist With Vehicle Valuations
A major aspect of diminished value cases is placing a dollar value on your motor vehicle. Our attorneys understand how to determine what your vehicle is worth, and we are familiar with the tools insurance companies use to undervalue your vehicle.
Negotiating a Settlement
Property damage cases routinely conclude with a negotiated settlement. This is true specifically for diminished value claims. While insurance companies might resist providing fair compensation in these cases, our firm could push insurance adjusters to provide you with the benefits you deserve.
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How Do I File a Diminished Value Claim?
There are steps you must take to file a diminished value claim in Savannah. Before you can pursue a claim for the diminished value of your vehicle, you need to know what it is worth. This involves obtaining an evaluation of your car before and after the accident.
Diminished value claims will not always be an option. In some cases, a vehicle will already have such a low value that compensation for further diminished value is not on the table. This includes vehicles worth less than $7,000, those with high mileage, and vehicles that do not have clear titles.
Your diminished value claim is only part of the property damage compensation you are owed. You could also have a case for compensation for the cost of repairing or replacing your damaged vehicle. Managing these property damage claims on your own can be difficult. Our firm is ready to ensure you are treated fairly while pursuing reasonable compensation for your damaged property.
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What Does a Diminished Value Claims Attorney Cost?
Our firm takes property damage cases on contingency. This is good news for you, as it gives you a chance to pursue a claim for compensation without paying any legal fees up front. Instead, you will only owe a fee if we are successful in your case.
With our billing approach, we retain a percentage of the compensation we secure in your case. This percentage will never change and is set before we ever take on your case. If we are not successful, you will not owe us anything for the legal representation we provide.
Work With an Attorney on Your Diminished Value Claim
You should not be forced to deal with the diminished value of a motor vehicle after an accident that was not your fault. Even if you have your vehicle repaired, the value will never fully return to where it was pre-accident. In order for you to be made whole, you will need to pursue a diminished value claim.
These cases are complex and require an understanding of vehicle valuation. If you are ready to seek compensation for the diminished value of your vehicle, the team at Kaine Law is here to help. A Savannah diminished value claims lawyer can start working on your case immediately. Call us today.
Call or text 404-214-2001 or complete a Free Case Evaluation form
