  You know that when you get
into an accident you get an estimate from an auto body shop for how
much the vehicle's repair will cost. But do you know about Diminished
Value claims? This is the loss of value of your car due to the
fact it has been involved in a car accident, and doesn't include the
costs
of repairs at the body shop. The total of these two costs can be as
much as
the Kelly Blue Book Value. Even at fault drivers can get a diminished
value
claim, although it may be more difficult to get.
My clients have gotten from $500 to $6,500 in lost value claims, because
we
all know, when you go to sell that car, the new buyer will want to know
if
the car has been in an accident or not. When the answer is yes, they
of
course won't be willing to pay the same for that vehicle as for the
car with
the same model, mileage, and year car that hasn't been in a car accident.
The diminished
value together with the body damage might be as much or more than
the Kelly Blue Book Value, so you may be able to get the insurance adjuster
to declare your car a total loss.
Practical Tip: If your car is totaled out and you
want to keep it, offer to
accept payment of the total loss fair market value (FMV) less its salvage
value. You may be able to sell it or part it out and make a small profit
in
the process. On any argument with the insurer about Fair Market Value,
always use at least three comparison values from different sources,
such as
the auto blue book value, NADA
guide value, used cars sales ads online,
in
your local newspaper or free thrifties. Copies of recent improvements,
such
as paint jobs, new tires, engine repair, and maintenance on your car
will
also help with getting the fair market value.
We generally do not handle body damage claims in auto accidents, but
we do have a diminished value
claims service for people whose:
car accidents happened in Oregon or Washington state
cars have over $3000 of body damage.
cars have a pre-accident car value of over $7000.
cars are not totaled out when the diminished car value and the body
damage are added.
cars are not leased.
drivers in the accident were victims or were at fault.
Contact Peterson Law Offices now to get
a free consultation on your diminished value claim.
If you are an injury victim and become my client I can help you with
your
body damage claim even if there is no diminished value. Find a body
shop
in your zip code if you live in Oregon or Southern Washington
state. Find out what the Kelly Blue
Book Value of your car is.
If you have minor damage and are handling the body damage claim yourself,
tell the insurance adjuster you want to get a receive payment for diminished
value for the car in addition to the body shop costs. If it's totaled
you can get the Kelly Blue Book Value site
here.
If you were injured in an automobile accident in Oregon and Southern
Washington State than don't talk to anyone until you contact Todd
Peterson. |
