How to Make a Diminished Value Claim After an Accident

Diminished Value Claim After Car Accident, Toy Car With Stacks of Coins

During the evaluation of your damages, an Atlanta car accident lawyer will order technical expertise on your car. This is necessary to find out how much to ask in the diminished value claim. It is included in your claim for economic and non-economic damages, and it will provide you with money to fix your damaged car or pay an advance for a new car.

In this article, we explain who is eligible to file a diminished value claim and what it will pay.

Both Drivers in an Accident Can File Diminished Value Claims

One of the aspects few drivers know is that you can file this type of claim even if you were at fault for the accident. This will be extremely helpful, considering that you will have to pay higher premiums after your insurer pays the other driver’s claim for damages.

Moreover, the fact that you filed a diminished value claim should not trigger a hike in your insurance premiums. This is your right as a policyholder, and an experienced lawyer will help you exercise it.

Now, let us explain the main conditions that make you eligible to file this claim.

1. The Car Suffered Significant Damage

Insurance companies often deny diminished value claims if your car only suffered a few paint scratches and other minor damage. The threshold for accepting claims is generally $500.

To calculate the value of the damages, lawyers rely on the Kelly Blue Book to calculate the fair market value of your car before and after the crash.

2. You Cannot Have Very High Mileage

It is understandable that you need your car on a daily basis to commute to and from work. However, if the mileage exceeds 30,000 miles per year, insurance adjusters will state that it endures excessive wear and tear.

In this situation, your diminished value claim may be denied. But do not lose hope. An experienced lawyer may find ways to get your claim approved, by showing that the car is properly cared for and maintained. Thus, how much you use it has no impact on its inherent value.

Insurance Agent Examining Damaged Car

3. The Vehicle Must Be Newer than 10 Years

Before advising you to file a diminished value claim, your Atlanta car accident lawyer will examine the vehicle registration documents, which include the full specifications of the car.

If the vehicle is older than 10 years, your chances of filing a claim successfully are low. These old vehicles have a small residual value. Even if you manage to get your claim approved, you will get very little money.

4. The Car Must Not Be Declared a Total Loss

If your car was so badly damaged that the technical expertise deemed it a total loss, you cannot file a diminished value claim. Instead, your lawyer will evaluate the cost of purchasing a similar car and add it to your list of economic damages as property damage.

5. The Car Must Not Have a Branded Title

A branded title means that the state agency that registered your car found that it has had significant damage in the past. These issues may make the car unsafe to use or reduce its value compared to a similar vehicle with no issues.

The most common problems that will lead to a branded title assigned to your car are:

  • Rebuilt: The car that suffered significant damage in a crash and was deemed a total loss was rebuilt or reconstructed and passed the safety inspection
  • Lemon law buyback: The car had issues that could not be fixed, so the automaker bought it back, rebuilt, and resold the car
  • Odometer rollback: The previous owner of the car rolled back the odometer (which is illegal) to indicate fewer miles
  • Water damage: The car was affected by a flood or salvaged after being driven into a body of water.

Discuss Your Case with a Seasoned Atlanta Car Accident Lawyer!

The legal team at The Weinstein Firm has extensive experience in filing diminished value claims and obtaining the maximum value possible. We will check carefully if you qualify for filing this claim and represent you on a contingency fee basis if you have a valid case.

Call us today to schedule a free case review at 770-HELP-NOW!

Latest Posts

Rollover Accidents in Decatur: Causes, Prevention, and Compensation
Weather Accident: Liability and Insurance Aspects in Bad Weather
The Most Common Truck Accident Injuries Explained
The Statute of Limitations in Georgia Car Accident Claims
Get the compensation
you deserve $$$

Local Auto Accidents

  • Atlanta
  • Conyers
  • Decatur
  • Kennesaw
  • Lawrenceville
  • Morrow
  • Watkinsville

Fatal Crash Blocks All Lanes On I-85 South In Gwinnett  Gwinnettdailypost.com [...]

Best Personal Injury Lawyers In Atlanta, GA Of 2024  Forbes [...]

1 killed in crash off I-75 in northwest Atlanta, police say  Atlanta News First [...]

One killed, another injured after car leaves roadway, crashes into tree: Atlanta Police  11Alive.com WXIA [...]

At least 11 killed on Georgia’s roads since start of holiday weekend  Now Habersham [...]

Billy Hydrick killed in Decatur 2-vehicle accident  The Legal Advocate [...]

Decatur launches pace car program to slow down drivers and prevent pedestrian crashes  Decaturish.com [...]

Child, 3 Adults Dead In Fiery GA Wrong-Way Crash Identified: GSP  Patch [...]

Crash at notorious Decatur intersection sends three to the hospital  Decaturish.com [...]

1 dead in DeKalb County crash involving Tesla: Police  11Alive.com WXIA [...]

Construction worker fatally injured on UGA campus; investigation underway  Online Athens [...]

Watkinsville woman killed in two-vehicle collision in Oconee County  Online Athens [...]

Truck driver killed, 3 others injured in related traffic accidents, Athens police say  Atlanta News First [...]

Watkinsville man killed, others injured in Towns County wreck  Online Athens [...]

Barrow Co. firefighter and son critically injured when their car collides with dump truck  Classic City News [...]

The Role of Weather in Louisiana Car Accidents: Legal and Safety Perspectives  EIN News [...]

Best Personal Injury Lawyers In Atlanta, GA Of 2024  Forbes [...]

3 dead after driver flees from GA police, crashes vehicle as car goes up in flames  WSB Atlanta [...]

Clayton County: Stolen ambulance chase leads to crash near Tara Boulevard, Dixon Road  FOX 5 Atlanta [...]

Lanes blocked following multicar crash on I-75 in Clayton County  11Alive.com WXIA [...]

Woman killed after losing control of car on Barrett Parkway  Cobb County Courier [...]

Three injured, two seriously, in motorcycle/car collision on Chastain Road in Cobb County  Cobb County Courier [...]

5-year-old released from hospital after Bartow County crash that killed 5  11Alive.com WXIA [...]

Bartow County crash: KSU student laid to rest  11Alive.com WXIA [...]

‘She was an angel:’ Friends remember 21-year-old killed in Bartow crash that left 5 dead  WSB Atlanta [...]

Sky Collision Expanding to Lawrenceville  What Now Atlanta [...]

At least 1 dead in major crash on I-85 South  FOX 5 Atlanta [...]

Fatal Crash Blocks All Lanes On I-85 South In Gwinnett  Gwinnettdailypost.com [...]

Motorcyclist hospitalized after crash with car near Gwinnett County Kroger  WSB Atlanta [...]

Woman killed in Henry wreck that shut down I-75 South for hours   The Atlanta Journal Constitution [...]

Cheapest Car Insurance Quotes in Georgia (Best Rates in 2024)  ValuePenguin [...]

2 killed in motorcycle crash on I-20 in Rockdale County  WSB Atlanta [...]

2 killed in Rockdale County multi-vehicle crash, sheriff’s office says  Atlanta News First [...]

Two people dead after crash in Walton County, GSP says  11Alive.com WXIA [...]

Crash on I-285 in DeKalb County closes all lanes; how to get around  11Alive.com WXIA [...]

Free Case Review
Weinstein law firm logo
Let's get started with your FREE consultation
Weinstein law firm logo
Injured in an Accident? You Want the Best!

When it comes to personal injury cases, time isn't always on your side. Contact us today and see why all of our clients say Weinstein Wins!

Let us fight for your rights and get you the maximum compensation you deserve!