Insurance Companies Regularly Deny Claims for Diminished Auto Value After an Accident !
Texas Law Requires That You Disclose Your Vehicle’s Involvement in an Accident Before Selling Your Car!
If your vehicle has been in an accident because of someone else’s negligence, you will probably seek a reputable repair shop to make the necessary repairs. The first thing you need to realize however is that regardless of how excellent the repair work, your car is no longer worth as much because of the property damage caused by the accident. This is called “diminished value” or “diminution loss.” As long as the accident was not your fault, Texas law says you are entitled to file a diminished auto claim against the responsible driver’s insurance. If the driver has no insurance, you can file a claim with your own insurance if you carry uninsured or underinsured motorist coverage.
While auto insurance is expected to cover your car repairs, insurers commonly delay, ignore or deny any requests for compensation for your car’s diminished value. It’s also important to remember that the loss of market value to your automobile has nothing to do with the completeness or quality of the repairs, as the loss of value arises the moment the vehicle suffers damage in an accident.
Diminished value claims can present many legal challenges. For instance, consideration must be given to the year, make, and model of the vehicle damaged, and to the extent of the damage. As an example, assuming the damage to be equal, newer exotic vehicles will incur higher diminished values than older ordinary vehicles. If your car is a newer model and it has sustained extensive property damage, then your diminished value claim could be significant! However, as is necessary in many cases, to prove the extent of your lost value, an expert will be necessary to conduct the research and generate a report. Our law firm has worked with many experts to successfully resolve diminished value claims for our clients.
Beware Tricks To Cheat You Out of Your Claims
Since insurance adjusters know that diminished value cases usually require experts, their knee-jerk reaction is to offer you a greatly reduced amount or just deny your claim altogether. Before you accept any settlement on your claim for the lost value of your car because of an accident, call the Houston law firm of Joel A. Gordon & Associates for a free consultation.
You Need The Advice of an Attorney Experienced in Diminished Auto Value Claims To Help You At a Free Consultation!
If your auto has experienced significant loss of value due to damages received during an accident caused by a negligent driver of another car, you may have the need for a top-notch lawyer to represent you in a legal action. Without familiarity with the unethical tactics insurers commonly use to take advantage of your inexperience and vulnerability, you are left in a state of confusion and frustration without knowing how to proceed.
As nationally-recognized attorneys with a reputation for excellence in client case success, the lawyers at the Houston firm of Joel A. Gordon and Associates can help you. At a free, no-cost consultation, we can discuss all the details of your case and guide you to the best plan of action to recover your losses. Since the state of Texas allows a very short time to prepare to file your claim, it is urgent that you contact us as soon as possible.