• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Diminished Value Question

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

kohnioor

Junior Member
What is the name of your state? VA

I was involved in an accident a month ago where it was clearly the other person's fault (stated in the police report). The car has some major structural damage which will be repaired at a quality shop. My car only had 9500 miles on it and was purchased for almost $60000 about 10 months ago. I'm not sure what the current value is. I would guess low to mid 40s?

I asked the insurance company about filing a diminished value claim after the repairs are completed. The adjuster told me that I would have to get an independent assessment at my cost and then send it to them. They will also do an assessment and go with their assessment. I'm not quite sure why my assessment is necessary then. They said to make sure that whoever I select is willing to go to court if needed. That last statement makes me a bit nervous. There are a few companies that do diminished value assessments in my area, but I doubt any of them are willing to go to court. Granted I have not checked with them yet so I am making an assumption in that statement. My question is, should I get a lawyer to pursue this? If so, would I be able to get reimbursed for legal charges/fees? What are the typical charges by an attorney for this type of case? I have never needed a lawyer before in the past.

Even after the car is repaired, the damage will be listed on carfax. Most people are not interested if they hear about an accident. Also, with the damage being "major structural" damage, places like CarMax and most dealers will not buy it regradless of the quality of repair.What is the name of your state?
 



Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top