If you were recently in a car accident in Los Angeles or anywhere else in California, you may be able to file a diminished value claim if you own your vehicle outright and were not to blame for the accident.
So what is a diminished value claim?
If you had hopes of one day reselling your car but your recent accident put a wrench in those plans, this is where a diminished value claim can help.
These claims are intended to compensate you specifically for the loss of fair market value to your vehicle due to the car accident. It refers to the loss in value when your vehicle cannot be fully repaired.
The first step in the process of filing a diminished value claim is to have your vehicle looked at by a diminished value appraiser that you can find with the help of a Los Angeles-based car accident attorney. The appraiser will inspect your car and give you an estimate of what you could potentially recover for your vehicle’s lost value, along with a proof of loss report which you will need to retain.
Next, you will need to submit the proof of loss report to the insurance company of the driver who was at-fault for the car accident. From there, it is simply a matter of waiting to recover your settlement.
Like injury claims, diminished value claims are notoriously complicated for anyone unfamiliar to the inner workings of the process. It is highly advised that you consult with a car accident attorney to ensure you have all the correct paperwork filled out and submitted properly.
Don’t let an insurance company tell you how much value your vehicle has lost. Our Los Angeles personal injury attorneys can advocate on your behalf to get you what you deserve.
You need to take action and call The Law Offices of Jacob Emrani right away if you were recently in a car accident as the statute of limitations of diminished value claims in the state of California is 3 years, and the opposing party will do they can to slow down the process.
Call the firm today to set up a consultation: (888) 952-2952!