Savannah Diminished Value Attorney
Our Experience Can Benefit Your Diminished Value Case
If your vehicle has been involved in an auto accident, you may be entitled to recover diminished value from the responsible party’s insurance provider. Our Savannah car accident lawyer at Brooks Law Office will protect your rights and best interest. We are committed to making sure insurance companies accept liability and fairly compensate our clients for their diminished value losses. We understand how the insurance industry operates and knows how to get the results you deserve.
Georgia Diminished Value Claims
Diminished value is the loss in market value which happens when a car is wrecked and repaired. A reasonable consumer will not pay the same price for a damaged—then repaired—vehicle in comparison with a vehicle without an accident history. Despite having exceptional repairs, the vehicle will still lose value.
So, for example, if you’re attempting to sell your wrecked and repaired vehicle, the buyer will most likely refuse to pay the same money for it as they would an accident-free care, meaning you will typically sell it at a discount. Insurance companies are often required to reimburse for the reduction in value after repairs. This loss in value is owed to you once the repairs are done.
The following are the laws which govern what an insurance company is able to do with diminished value claims:
- Insurance companies must pay diminished value
- Your insurance premium cannot increase because of a diminished value payout
- Your insurer cannot cancel your policy for collecting diminished value
- You can file a diminished value claim regardless of whether or not you were liable for the collision
Keep in mind, the insurance company’s initial offer will be relatively low, so you would need a report by a reliable auto appraiser. However, not all car appraisers are the same.
Our Savannah car accident attorney can thoroughly review your case and determine the most reasonable price possible. With us, you can increase the likelihood that the insurer will fairly compensate your diminished value claim.
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Our goal is to make this process as quick and simple as possible for you. We know that dealing with insurance companies is typically frustrating, especially after being involved in a serious accident. With millions of dollars recovered on behalf of our clients, we can take care of all the details and help you obtain the maximum settlement.
For more information, contact usto speak with our Savannah auto accident attorney today.