20 Aug How Do I Recover the Lost Value of My Car?
Cars Lose Value after Accidents
Even after repairs, this car’s value is significantly less.
If your vehicle was involved in an accident, the value of the vehicle decreases even after it is repaired. Diminished value is the difference between the unwrecked value and the value after it is repaired due to an accident. The loss of value is almost always recoverable, but it is rarely paid by insurance companies.
After the repairs, the wrecked car is worth less because it is “damaged goods” but Virginia recognizes claims for diminished value. Many insurance companies pay for the repairs, but discourage or even deny diminished value payments. The Paullin Law Firm has helped car owners recover the value from the insurance companies.
Frame or Unibody Damage
If a car has frame or unibody damage, the diminished value is even greater. This is because frame damage is recognized in the used auto industry as very serious damage, which is sometimes never fully corrected. If your car is damaged, and especially if the frame or unibody is damaged, you are likely entitled to payment for the diminished value of your car!
We will aggressively fight for recovery of diminution. Contact Paullin Law Firm today.