Generally, when people talk about compensation in a car accident, they’re usually referring to the injuries sustained. Compensation from a settlement generally includes the value of medical bills, lost wages and pain, and suffering.
But what about the value of your wrecked car? Many times, bad accidents not only result in serious injuries but severely damage the car as well. What happens when an accident that was not your fault not only has you recovering from injuries but also wondering what you’re going to do about replacing your car without expending any money.
Diminished Value
Diminished value is the difference between the value of your car after an accident and the value of the car before the accident. A car, even repaired to look the same after the accident, will never hold the same value it did before it was damaged. There are companies out there that provide detailed reporting on cars, so potential buyers can see whether or not the car was ever involved in an accident.
Protect Yourself
You have car insurance for a reason: to protect yourself. You should consider having a rider attached to your policy for diminished value, so you can make sure you’ll have enough money when the time comes to replace your car. It’s important to note that a diminished value rider cannot be used on a car that has been deemed a total wreck.
If you can’t get your insurance adjuster to work with you on the diminished value amount, contact us immediately. We will work with you to ensure you get the full value of your vehicle.
Tags: accident attorney, accident lawyer, anne arundel county accident attorney, anne arundel county accident lawyer, anne arundel county personal injury attorney, auto accident, automobile accident, charles county accident attorney, charles county accident lawyer, charles county personal injury attorney, d c accident attorney, d c accident lawyer, dc accident attorney, dc accident lawyer, eastern shore accident attorney, eastern shore accident lawyer, injury attorney, injury lawyer, kent county accident attorney, kent county accident lawyer, mary's county accident attorney, mary's county accident lawyer, maryland accident attorney, maryland accident lawyer, Maryland personal injury attorney, maryland personal injury lawyer, montgomery county accident attorney, montgomery county accident lawyer, motorcycle accident, oxon hill personal injury attorney, prince georges county accident attorney, prince georges county accident lawyer, prince georges county personal injury attorney, st, traffic accident, traffic crash, truck accident, virginia accident attorney, virginia accident lawyer