Was Your Vehicle’s Value Diminished?
In addition to attempting to navigate the complex personal injury claims process, after an accident, you will also need to open a property damage claim. If your insurance company determines that your damaged vehicle can be repaired, it is important that you understand your rights and protect your financial interests.
When a damaged vehicle is repaired, that vehicle will have an impaired value based on the fact that it was involved in an accident. The diminished value amount is determined by a professional appraiser at your insurance company. When determining diminished value, most insurance companies utilize a formula that undervalues your vehicle’s actual value, which can cause you to suffer financial losses in the event you have an outstanding car loan or later decide to trade in or sell your vehicle.
Your Legal Advocate Against Insurance Companies
When it comes to property claims and diminished value, most people wrongly believe that they are powerless and have no choice but to accept their insurance company’s determination. At The Law Office of George O. Haskell, IV, in Macon, Georgia, we work to help clients obtain higher diminished value damages for their vehicle. We use our legal experience and knowledge to employ a 60-day third-party insurance bad faith demand that can trigger significant penalties if an insurance company fails to pay fair diminished value.
If you have been involved in a collision that resulted in your vehicle sustaining damage and a diminished value, we will represent your best interests and take steps to ensure that your vehicle is appraised at a fair market value amount.