Property Damage Claims Without a Lawyer
We are always amazed at how many people who are very seriously injured in a car accident are more upset with their property damage and the insurance companies' refusal to pay for the diminished value of a vehicle. Why is this? Insurance companies do not settle serious accident claims - not typically, anyway - until far later down the road when the client has recovered or reached maximum medical improvement (the healing has come as far as it will). Property damage claims are immediate so it gives the victim the first glace of the extent to which the insurance company will completely jerk them around.
Diminished value claims are tailor-made for insurance companies to not play straight. Theoretically, the law is what it should be. Maryland law allows the victim either (1) the cost of repairing the vehicle and the loss of value of the vehicle because of the accident, or (2) the fair market value of the car if it is a total loss.
Sounds great. The problem is that insurance companies, at least in Maryland, ignore diminished value claims. How? Maryland law allows plaintiffs to bring diminished value claim, but the insurance companies understand that most lawyers will not touch property damage claims unless they are connected to a serious injury claim (we are guilty of this). So for most diminished value accident claims, no one is willing to hire an expert and file a lawsuit. So, unless you take them to the courthouse steps and beyond, these claims are unlikely to get paid.
This problem has become an even bigger deal with the rise of CarFax which allows everyone to quickly check the accident history of a vehicle. This cuts down the market for potential buyers when you go to sell the car.
What is the answer? Well, if you have been seriously injured in an accident, your lawyer may be willing to push the ball on your diminished value claim. If not, there are not a lot of great options. The best is not the one you want to hear: push the insurance company on filing suit on diminished value, let them know you know you need an expert and line one up, and then settle your claim for the best value you can get.
Our car accident lawyers handle serious injury Maryland auto accidents and have prevailed at trial in hundreds of car accident cases. Our car accident lawyers have also successfully settled thousands of cases for clients injured in automobile accidents, recovering millions of dollars in compensation for car accident victims by settlement or trial in 2011 alone. If you or someone you love has been injured or killed in a car accident, call us at 800-553-8082 or click here for a free consultation.
More on Property Damage Claims
- More on Property Damage Claims (another overview of the issues that arise with property damage claims)
- Even more on property damage insurance claims (even more analysis on property damage claims)
- Property Damage Claims (you are getting a raw deal.... and you are not alone)
- Getting a Rental Car (overview of the rules and what you can do)
- How Insurance Companies Value Totaled Cars (law on the valuation of totaled cars, motorcycles, and trucks)
- Sample Expert Witness Diminished Value Report (sample report from expert showing the factors that go into a diminished value property damage claim)
- Kelly's Blue Book (the gold standard in determining value for total loss)
- The Importance of Understanding What Is in Your Policy
- The Challenge of Diminished Value Claim (the difficulties you face in getting the lost value of your car)
- Property Damages Release (signing the wrong release can be fatal to your property damage claim
Dealing with the Insurance Company
- How Long Should It Take to Settle My Case? (information on how long personal injury claim - as opposed to property damage claim - will take to settle)
- 8 Mistakes Car Accident Victims Make in Settling Their Own Case (what the insurance companies do to take advantage of people to settle claims for less than they are worth)
- An example of how insurance companies confuse victims on the law and what how much they are entitled to recover
- What Happens in an Accident Case (looking at the case from the client's perspective from begining to end)
- Personal Injury Victims Help Center (information on everything you want to know about personal injury claims)
- Sample Demand Letter (sample demand letter for compensation to insurance company)
- Handling Your Own Personal Injury Case Without a Lawyer (tips and strategies)
- What Is the Value of Your Accident Case? (article on how value is placed on the pain and suffering component of personal injury claims)
More Information on Accident Claims
- Maryland Accident Claims (an overview)
- Truck Accident Claims (information specific to dealing with trucking defendants)
- Can I Fire My Personal Injury Lawyer? (information on the decision of whether you terminate your current attorney)
- Contacting Our Law Firm: Our lawyers handle only serious injury car accident claims. If you or someone your love has been seriously injured in a car or truck accident call 800-553-8082 or get a free online consultation.