If you’re involved in a wreck, your car or truck will sustain property damage.
When you get your car repaired, you know it will be worth less than it was before the wreck.
This is called diminished value.
Think of it this way:
You walk onto a used car lot and you see two identical cars parked side by side.
One has been wrecked and repaired. The other has never been wrecked.
Most people would never buy the car that has been repaired.
There are even companies out there that will warn you if a car has been previously wrecked and repaired because people want to know.
And if you would consider buying the wrecked car, you would want a substantial discount.
This discount is the diminished value.
The ONLY way to discover this amount is by hiring an appraiser.
But insurance companies are misleading consumers when they use a formula they created to calculate this amount.
Here’s an example:
One insurance company sent our client a check for $496.00. They told him this was the diminished value to his vehicle based upon their special formula.
But we hired an independent appraiser. His market survey showed the vehicle lost $2,235.00 in diminished value.
The insurance company was trying to cheat our client out of more than $1,700.
This isn’t right, but insurance companies get away with this every day in Georgia.
If you have been involved in a wreck and you don’t hire an attorney, you are letting the insurance company hang onto YOUR money. Plain and simple.
Atlanta Personal Injury Lawyer: Insurance Companies may be taking advantage of you after a car wreck: