Diminished Value of Repaired Cars

Michael Myers

Attorney
(866) 735-1102 Ext 580

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You are involved in an accident. Not only did you suffer injuries, your car is also damaged. The insurance carrier for the at-fault driver has an obligation to promptly adjust and settle the property damage claim before the bodily injury component is resolved.

Unfortunately, many insurers do not abide by this law. And even if they do, they frequently omit certain key forms of compensation you are entitled to receive. One of the most important of these is the diminished value.

After your car is in an accident, even if it is fully repaired, it is worth less than it was before the accident. In 2002, State Farm settled a class action suit in Georgia for $250,000,000.00 that involved as many as 700,000 persons who had claims for lost value of their damaged cars.

If you have questions about this or other issues pertaining to a motor vehicle accident, please contact us. We would be happy to help.