There are several steps required in successfully collecting a diminished value claim:
1. Proving Lost Value
The first step in the diminished value claims process is to prove that your vehicle has lost value as a result of the accident. An independent appraiser with a strong knowledge of collision damage analysis may be required to make this determination.
2. Submitting a Claim to the Responsible Party
Once you've established the amount your vehicle has last due to diminished value, a demand for payment letter will need to be sent to the responsible party.
3. Settling Your Claim
Once your claim has been submitted to the responsible party, they will respond to your demand. They may offer payment in full, but in most cases they will try to negotiate down the amount of your demand. Sometimes they will want to hire an independent appraiser of their own to verify your claim. Other times they will simply deny your claim outright, arguing that there is no lost value because the vehicle was properly repaired.
The key to successfully pursuing your claim is in being properly prepared for any response from the responsible party, and the most reliable way to do that is through representation by an attorney who has your best interests at heart. An attorney can also help guide you through the first and second steps of the claims process.
How We Can Help
DiminishedValue.com can help you collect what you're owed by putting you in contact with a local attorney who is well versed in diminished value laws in your state. Every attorney we work with has helped countless others collect similar diminished value claims, and will represent you on a contingency basis. You're not required to pay a dime out of pocket, and your attorney will only be paid when you are. The process is extremely easy and is completely free.
