Diminished Value Claims in California
Demand Compensation for the Diminished Value of Your Vehicle
Carolyn, a car accident client of the firm.
If your vehicle was damaged as the result of a
car accident in Long Beach, even after repairs, it will have lost considerable value. Because it
has an accident history, your vehicle is now automatically worth less
than an identical vehicle that has no accident history. Your vehicle will
be much less desirable to a prospective buyer. It may have lost up to
a third or more of its pre-accident value. With the accessibility of Carfax
information today, anyone can discover your car's accident history.
If you attempt to trade it in at a dealership, you will be offered less
for it, or the dealership may not even take the vehicle.
You are entitled to compensation for the diminished value of your vehicle
and should demand that the other driver's insurance company pay you
for this loss.
Insurance Companies Fight Diminished Value Claims
The vast majority of accident victims don't know that they are entitled
to be paid for the diminution in value of their vehicle. Insurance adjusters
certainly won't advise them of that right. In fact, insurance adjusters
will often tell accident victims who raise the issue on their own that
diminution in value damages are not recoverable under California law.
Wrong. California law does entitle an accident victim to be paid for the
diminished value of their vehicle. Insurance companies don't want
you to know this and fight these claims vigorously. They worry that if
car accident victims learn that they are entitled to this money, the floodgates
will open and insurance companies will be inundated with a diminution
in value claims from car accident victims and their attorneys.
Most Attorneys Don't Handle Diminution in Value Claims
Most personal injury attorneys do not handle diminished value claims. Why?
Either because they aren't aware the money is recoverable, or because
diminished value claims don't have enough value for the law firm.
At McGee, Lerer & Associates, we began handling these claims after
being fed up with seeing car accident victims have to bear the financial
consequences of a negligent driver's actions.
No Fee on Diminished Value Claims
If we also represent you on a car accident injury claim, we will waive
our fee on any money we collect for you on a diminished value claim if
we can settle your diminished value claim prior to filing a lawsuit.
It's Not Too Late to Turn to McGee, Lerer & Associates!
If you have already hired a
personal injury attorney to represent you, and the attorney does not handle diminished
value claims, you are welcome to contact our office to discuss whether
we can assist you. If your diminished value claim is not of sufficient
value for our firm to be able to take on the claim, we can tell you what
you need to do, at no charge, so that you can pursue the claim on your own.
If you would like our firm to take over your injury claim and also represent
you on a diminished value claim, we can discuss that as well. If you do
decide to change attorneys, you pay no additional attorney's fee.
The one attorney's fee is divided between your first and second lawyer;
your portion of the settlement remains the same. You are invited to obtain a
free second opinion on your case from our firm.
Contact McGee, Lerer & Associates to get started on your diminished value claim today.