Providing knowledge of Washington Personal Injury Claims and Legal procedures.
Wednesday, June 15, 2016
Disputing (diminished) valuation of your vehicle after an Accident in Washington State
How to file a
diminished value claim after an accident.
Many of our clients
who need assistance maximizing a Seattle Personal Injury Claim often find
its not worth engaging an attorney fight for their auto claim because of the
costs and expenses of litigation. That said, we thought we would share some
helpful tips on what to do if you find yourself in disagreement over the
valuation of your vehicle as well as some helpful tools:
What is diminished value?
Diminished value is the difference (if any)
between the market value of your undamaged car before an accident and its
market value after you have it repaired.
Who to file the claim against
In Washington, you’ll file a diminished value claim
against the insurer of the at-fault party and not your own insurer.
What you need to do
If you decide to file
a diminished value claim, you’ll need to prove your claim with supportive
documentation. Some car owners file a claim on their own or hire a private
company to document the lower value. Even then, an insurer may argue against
it. Its important to have as much documentation as you can have including
opinions from local dealerships as to the value of your vehicle pre-collision
and post-collision (even with the repairs).
The insurer doesn't
automatically pay you for diminished value. It's subject to proof that your
car's market value decreased even after repairing it. If you plan to file a
claim for diminished value, we recommend you talk to your claims adjuster.
Another helpful source in the Washington State Insurance Commissioner. Please see their link below on helpful contact information: