In a professional forum for diminished value providers, we had a member inquire about how the amount of the repair bill affects the diminished value (inherent) of a vehicle.
It is my experience that the amount of damages is an imperative factor to have in order to accurately assess diminished value.
Does it really happen?
How do you know if you’re being steered?
Anderson Cooper at CNN just did a story on lawsuits that are being filed against huge insurance companies who continually dictate what is repaired on vehicles after an auto accident and this video is worth watching until the end!
Josh found himself in a situation we run in to more than we would like to admit! He got hit by two different people THREE MONTHS APART! His year began with an accident in February and then in May he was hit AGAIN by another person. He didn’t know the first place to start but knew his 2010 Ford Mustang GT had lost a ton of value after being wrecked and repaired twice in three months! (more…)
UPDATED JAN. 2016
There are only two states where case law does not support recovery of diminished value in a negligence cause of action. California is not one of those states. New case law in California is clear that it IS possible to recover for the diminished value of your vehicle if you are able to prove your loss. (more…)
For Arizona diminished value claims, there is case law that is exactly on point. It is a case styled “Paul Oliver v. James Henry”. A Google search will surely land you with a copy of the case, or you can request a copy directly from my office and we’ll send you the full case for free. That case law says that a vehicle owner can hire an expert appraiser to document the lost market value due to damages, and that an expert appraisal or testimony is sufficient evidence. This means that if you want to recover your Arizona diminished value claims, then the quality of your expert is really the thing that matters most.
Does that answer all your questions? I didn’t figure it did. Let’s break it down by the most frequently asked questions after learning that diminished value in Arizona is supported by law. (more…)
One of the most common questions I get comes from customers who have been negotiating for the recovery of their lost market value and get told by an adjuster that the amount of inherent diminished value they want is only an opinion. Faced with this argument, the customer wants to know what to say.
A claims representative or adjuster that simply refuses to acknowledge lost value and pretends that there is no way to prove the loss is a common obstacle and a tactic that is successful when there is an uninformed accident victim. Don’t buy it! Get informed and read on. . . . (more…)
This subject can get very complicated, but I’ll try and simplify it down to a quick study.
I have to say that negligence laws differ in each State, so I am going to generalize and speak about negligence and fault as it is addressed in the vast majority of the United States, and we’ll omit specific exceptions due to locale. If you have a specific question about tort liability or negligence in auto accident, please seek out a competent attorney or professional. The information presented here is not legal advice and is for informational purposes only. (more…)
Is automobile diminished value a fact? If so, then how does one prove the exact diminished value? Is there anything fake about diminished value?
In almost every successful recovery, an expert report on diminished value is required. As an expert in diminished value, my research indicates that diminished value exists in almost every case where a vehicle has been wrecked and then repaired. Generally speaking, the lesser the value of the car is before the wreck, the lesser the diminished value is after repairs, but not always. There are many factors that should be evaluated in order to properly determine the amount of diminished value suffered by a vehicle.