If You’ve Been In an Accident, Your Car Has Lost Value

You were in a car accident that wasn’t your fault – what now? You have taken the necessary first steps: snapped some photos of the damage and filed a claim with the insurance company. However, what many people don’t realize is that their car has lost value because of the wreck, regardless of how perfect the repairs might look. After all, would you pay top dollar for a car which has been in an accident?

 

On average, vehicles lose anywhere from ten to fifty percent of their market value after a crash. You may have a credible diminished value claim and be entitled to reimbursement for the loss of your vehicle’s value. It is strongly recommended that you contact a lawyer for advice on how to go about receiving the compensation you deserve.

 

A diminished value claim is based on several factors. For example, the year, make, and model of the vehicle is very influential, as are the quality of repairs and the worth of the vehicle prior to the accident.

In addition to diminution in value of a vehicle, you may be eligible to receive reimbursement for loss of use of the vehicle. This compensation can be put toward a rental car of the exact same type during the repair process.

 

If you believe you may have a case for diminished value, contact Brett M. Bressler Attorneys at Law for a free consultation. We have maximized the payout for many of our clients in diminished value cases. Recently, a 2007 Lamborghini Murceilago was rear-ended and the value dropped significantly. The owner reached out to us, and we were able to ensure the other driver’s insurance company paid the policy limit of $100,000 to our client. This made up for the loss of resale value of the vehicle.

 

With over 27 years of legal experience, Brett M. Bressler Attorneys at Law strive to make the welfare of you, the client, top priority. Let us get you the reimbursement you deserve. Contact us today.