Any automobile accident could be quite traumatic for the driver or its passengers. Once the health and safety of these individuals are confirmed alright, the damaged automobile must be reassessed for the next course of action to be taken.
Many insurance companies or lawyers may only focus on repairing the damaged vehicles besides compensating the injured through medical bills but a repaired vehicle involved in an accident is probably devalued in the market.
Understanding Diminished Value
When a bad auto accident happens in Miami, it is best to seek the counsel of a reliable and professional car accident attorney Miami law expert for the right course of actions and legal decisions to be aptly made.
Besides medical and health related compensations which Miami personal injury attorneys are very skilled at, there is also the need to consult the diminished value lawyer Miami professional for the badly damaged vehicle. Consumers are allowed to put in diminished value claims by law where an expert automobile appraiser would assess the extent of damage and devaluation the vehicle faces.
The diminished value of the damaged vehicle depends on the lowered cost of the selling price of the car. It is vital for the car owner to secure a professional and fair appraisal for the car after an accident to determine its market value.
Market Checks
Car dealers in the market could check out the history of any car to be sold in the market and determine its worth. Diligent private buyers could also look up the same information to consider the market worth of a used car. This would create a loss in value if the car has been damaged in an accident although it is now repaired.
Although the courts ruled on the non-effect of diminished value by the repair costs or quality, it is up to the negotiating power of a skilled Miami car accident lawyer to secure a higher price on the car than what insurers would want to offer. This type of lawyers is able to assist in filing a Diminished Value claim Miami to commence better negotiations with the insurance company. With the stipulated court ruling, insurance companies must acknowledge the DV claim and offer higher compensations or value on the repaired vehicle.
Proving the Diminished Value is a challenge for any ordinary consumer unless assisted by a professional Miami car accident lawyer who is well versed with this aspect of the law to defend the stand with the defendant in court or in writing the claim request.
A Diminished Value request must be submitted in writing by the defendant in the required precise format to be filed in court for approval. An experienced diminished value lawyer Miami law firms could handle this professionally.
