Diminished Value Property Damage Claims

What does diminished value mean after a vehicle accident?

Most people think that when their vehicle is repaired after an accident occurs, the vehicle will be worth the same as it was before the accident. In general, this is simply not true. There are various reasons why a vehicle’s value will decrease even after repairs have been made. This can include, but is not limited to, the following issues:

• The vehicle’s structural integrity could be weakened
• There may be undiscovered damage
• It may not be possible to return the vehicle to a pre-accident state
• The warranty may be voided
• Dealerships may not be able to sell the vehicle as certified pre-owned
• Replacement parts may not be as good of quality as the originals
• Buyers are typically more reluctant to purchase vehicles that have been involved in an accident

Three types of diminished value after a vehicle accident

Throughout the Pacific Northwest, we will find that states define diminished value a bit differently, but most of the definitions center around three types of diminished value claims. This includes:

1. Immediate diminished value: This represents the difference between a vehicle’s value before an accident compared to the value after the accident repairs have been completed.
2. Inherent diminished value: This represents the diminished value that happens after a vehicle has been repaired to its original condition, but is considered worthless simply because it has been involved in an accident. This type of diminished value lies with the perception of any person who may buy a vehicle or take it as a trade-in.
3. Repair-related diminished value: This represents the loss of value caused by the quality of repairs. An example of this would be a paint color that is not a correct match or generic parts that may be used to repair the vehicle.

Call our car accident attorneys today

If you or somebody you care about has experienced diminished value on your vehicle after an accident in Washington, Idaho, or Oregon, turn to the team at Russell & Hill – Injury & Accident Attorneys for help today. Our attorneys have extensive experience handling all aspects of vehicle accident claims, including property damage value assessments. Our goal is to help ensure that you receive full compensation for your losses. When you need a car accident lawyer to handle your diminished value property damage claim, you can contact us for a free consultation of your case by clicking here or calling 800-529-0842.

The last thing anybody wants or expects to happen is being involved in a vehicle accident. Injuries after an accident can lead to significant setbacks, but these are not the only losses that crash victims incur. Crash victims in Washington, Idaho, and Oregon can also incur significant property damage expenses. Even if the insurance carrier of an at-fault party pays for the property damage, the owner of the damaged vehicle will still experience some diminished property value. At Russell & Hill – Injury & Accident Attorneys, our Pacific Northwest car accident attorneys are here to help clients handle diminished value property damage claims so they can receive complete compensation for the incident.