Diminished Value from a Car Accident – The Hidden Claim Insurance Companies Don’t Tell You About

As you probably know, if your vehicle is involved in a collision or accident, you are required to disclose that fact at the time of sale, even if the vehicle has been repaired to pre-accident condition. Being involved in a collision will drastically impact the value of your vehicle and you have the right to be compensated for the loss in value. Most insurance companies do not notify claimants of this right.  Many people settle simply for having their vehicle repaired, but this does not compensate you for your vehicle’s loss of value.

Two crashed cars

If you have been involved in an auto accident and it was someone else’s fault, you may be entitled to the diminished value of your vehicle in addition to the standard property damage claim.  To have a value claim for diminished value, it is important to have your vehicle properly appraised by a professional. A personal injury attorney can assist you in setting up the appraisal and fighting the insurance company on your behalf.

Contact a personal injury attorney in Salem, Oregon as soon as possible following the collision to ensure that the proper timelines and notice requirements are met. Often the end of the statute of limitations period is very short – in some circumstances as little as a few months! It is critical that you contact a personal injury attorney to review your case and options as soon as you are able to do so.

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