How to win a diminished value claim?
Just imagine this scenario: You come across a car that looks very nice, but then you know that the car has met with an accident. 

Are you still ready to buy or pay the cost quoted? That’s what you call the diminished value of a vehicle.

 

Understanding Diminished Value Claim

A diminished value claim is about recovering the value loss of a car before and after the accident. In most states of the US, one is entitled to a Diminished value claim.

To understand how to win a diminished value claim, you first need to know what needs to claim one:

1. The accident was not your fault, and the responsible party has insurance.

2. The damages caused are visible and severe. In other words, minor scratches or paint loss are useless for the claim. Therefore, please take pictures of the damage and make sure they are severe.

3. The damage estimate should be at least $2,000.00 (as the damage needs to be severe and not just minor), and there is frame damage to your car, truck, or other vehicles.

4. Your vehicle should be at most ten (10) years.

5. Ensure that the party at fault has enough funds and insurance to compensate you.

If your diminished value claim has all the above elements, you are ready to file a claim.

Now, here is how you can win the diminished value claim:

1. Documentation:

The key to winning a claim begins with getting the legal documents right.

Every state has a list of documents that need to be submitted. However, some of the standard documents that you must file, irrespective of the state you live in, are:

1. Vehicle purchase contract.

2. Repair estimates.

3. Adjuster’s first estimate is called the pre-takedown.

4. All the car pictures that support your damage claim.

 

2. Make the first move:

Once you have all the documents ready, make the first move and inform the adjuster that you will be claiming a Diminished value.

 

3. Stick to the claim:

The game begins once you file the claim. Be prepared that the other party will not accept your claim. The other party would try all means to pay you much less.

In such cases, the only way to win a claim is to be patient and stick to your claim amount.

 

4. Hire a lawyer:

Though all the processes and procedures for the claim are available online, it is always suggested to hire a lawyer for the same.

 

Hiring a lawyer is best for those who need more time and energy to sail through the lengthy proceedings.

Important: The articles available on requestlawyerservice.com are not legal advice nor a replacement for a lawyer. The contents are usual information and guidance concerning different lawful issues. We make sure that these articles prove helpful to you, but we do not promise that they are suitable for your circumstance. Hence, we strictly suggest you get expert legal advice. Consult or hire an attorney in case of any uncertainty.