Working around personal injury attorneys, the words “Dimished Value” is something that is heard often but overlooked by many victims of car accidents. As former traffic accident investigator, I can tell you that I have had hundreds of accidents where the victims of crashes told me they believe their insurance company will treat them well…only to find out later that they did not receive the service expected. Many times, victims of crashes would call me and see if there was anything a police officer could do, because their insurance company failed to pay them for the proper damage amount for their car and the answer was usually.. “no”. This was one of the many reasons I elected to work plaintiff injury cases.

But, back to my topic…when you crash your car, there is usually a vast difference in what your car is now worth to you, and what your insurance company thinks it is worth. Imagine driving your brand new car weeks from purchasing it from the dealer, and being struck by some 16 year old, texting and not paying attention. To no fault of your own, there you are, sitting in the middle of an intersection with a 1997 Kia sitting in the trunk of your brand new car. You will soon find out that the value of your car is vastly different that an insurance company. The insurance company is simply required to replace your car to a “Pre-Accident Condition”, something they cannot do. Diminished value is simply the loss of your cars value, beyond the repair bill. This is due to the damage of your car being noted in such publications as “CarFax” where anyone can clearly see your car has been damaged in a previous accident. And after all, if you are a potential buyer, is there anything more frightening to scare you off?? Even on a trade it, your car now has “Dimished Value” and that cost is usually something victims of accidents do not pursue.

Attorneys will pursue this value for you and get you more for your car, and of course for your injuries…it is just a piece of the personal injury puzzle that you must check into. For more information on Diminished Value, please visit the following link below…

http://www.coloradodiminishedvalue.com/page4.html

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