Motorcycle Accident Diminished Value Claims
Getting Long Beach Clients Compensation for the Diminished Value of their
Motorcycle after an Accident
If your motorcycle sustained significant damage in a
motorcycle accident but was not declared a total loss by the insurance company, you may be
entitled to compensation for its diminished value from the other driver's
insurance company. After the motorcycle is repaired, it will be worth
less than it was before the accident. It is worthless because it has an
accident history, and that accident history is discoverable by prospective
buyers. If you attempt to trade it in at a dealership, the dealership
may refuse to take the trade-in, or ding you on the trade-in value.
Insurance Companies won't tell you about your Right to Compensation
for the Diminution in Value of your Motorcycle
Insurance companies don't want you to know that you are entitled to
compensation for the diminished value of your motorcycle. In the rare
event that an accident victim makes a diminution in value claim, the insurance
company will usually initially reject the claim, contending:
- That California law does not recognize the right to recover diminution
in value damages.
- That if the motorcycle is repaired, its owner cannot claim diminution in
- That the right to claim diminution in value does not arise until the motorcycle
is sold or traded-in and the owner receives less than he would have if
the motorcycle had an accident-free history.
Insurance companies fight these claims vigorously, fearing that if word
gets out that they pay these claims, the floodgates will open and every
owner of a damaged motorcycle that was deemed repairable will demand this
Most Personal Injury Attorneys Don't Handle Motorcycle Diminished Value Claims
Most personal injury lawyers don't handle motorcycle diminution in
value claims. Either they don't know that their client is entitled
to this compensation, or there is not enough money in it for the lawyer
to pursue a claim they know the insurance company will vigorously fight.
Either way, it's the motorcycle accident victim who loses out and
gets victimized a second time.
Our Long Beach Personal Injury Lawyers do Handle Motorcycle Diminution
in Value Claims
At McGee, Lerer & Associates, our
Long Beach personal injury lawyers demand and get diminished value compensation for our motorcycle accident
Contact a Long Beach motorcycle accident attorney at our firm today to find out more about your right to compensation for
the diminished value of your motorcycle.