What Is “Diminished Value” For My Car After An Auto Accident In Atlanta, Georgia?
The ability to make a claim for diminished value and the amount of your claim can depend on the type of car you own. Cars that are considered unique, luxury or sporty can demand a higher diminished value recovery than more mass produced cars like low-to-midgrade four-door sedans. Prior accidents and damage to your car will also affect the amount of "diminished value" loss that can be recovered. Auto accidents resulting in a total loss to your car will not allow for the recovery of "diminshed value" dollars.
The insurance company will typically use a computer calculation of diminished value which usually spits out a low-ball dollar figure. Appropriately, the Georgia courts have ruled that calculating by that method is unacceptable for determining diminished value. Expert testimony is the most reliable and accepted method of determining the amount of diminished value due to an accident. For a small fee, there are several companies that will provide an expert opinion of diminished value and is well worth the expense.
Be sure to inform the insurance adjuster that you plan on making a diminished value claim if you have not already hired a personal injury attorney to represent you in your accident and personal injury claim.
If you are not certain of what to do after an accident, the safest course is to consult with an Atlanta, Georgia personal injury attorney as soon as possible. Contact the Law Office Of Sidney Weinstein, 24/7, for a free accident and personal injury consultation by calling 404-522-3108. We can come to you at your home or any of the Atlanta, Georgia area hospitals including Grady Memorial Hospital and Atlanta Medical Center.