Most people whose car or truck has been wrecked understand that the insurance company for the person who caused the crash must pay to repair their vehicle. However, many people don’t realize that they are also owed compensation for the diminished value of their vehicle in addition to the costs of repair. This reflects that the fact that even when a vehicle has been properly repaired, it is not worth as much as compared to the same make and model of vehicle that had never been damaged.
The amount of a diminished value claim depends upon the age of the vehicle, its original value, and the extent of the collision damage. For a car or truck with a significant value, it is often worth the cost to hire a licensed automobile appraiser to provide an opinion regarding diminished value.
If your car or truck has suffered significant property damage in a crash that was someone else’s fault, give me a call. As an Indianapolis car accident attorney that has handled numerous car accident claims, we can advise you about your totaled car or truck and diminished value claims.