Who pays for the Diminished Value of my car?
If your at fault you can only claim Diminished value in Georgia, Kansas, and North Carolina, if it wasn’t your fault you can claim in every state. Also, if the at fault party did not have insurance at the time of the accident your own un-insured motorist’s insurance will pay for Diminished Value Claim.
Who must prove the diminished value?
The burden of proving the reduction in value on the Plaintiff who is bringing the claim.
When do statue of limitations start?
The statute of limitations is measured from the date of accident.
Can I claim diminished Value if the car has been in more than one accident?
Most times no, unless this accident was the worst of all accidents in terms of repairs or had frame damage.
Can I have a representive/ attorney make the claim for me?
Yes, third party diminished value claims are absolutely compensable.
Will I Need Help to Settle My Diminished Value Claim ?
YES … The insurance industry keeps coming up with new excuses to not pay what they owe on Diminished Value Claims. To the uninitiated, some of their arguments actually seem to make sense. But, to the trained professional, we’ve heard all their arguments before and we know how to deal with each-and-every one of them. Over the past few years, the pool of diminished value “Appraisers” has mushroomed. There are now “Discount” Diminished Value appraisers that will pick-your-pocket for whatever they can get, in exchange for useless reports that are of No Value. The insurance industry even seems to be underwriting some of these Late Entries in an effort to Minimize their Payments on Diminished Value Claims.
WARNING …
• Beware of “Instant” Diminished Value Reports … Insurance companies ignore them …
• Beware of “We Do It All” [or] “Contingency Fee” Diminished Value appraisal services …
• Most get their Values from an insurance company’s Preferred DV appraisal service …
• Those appraisal services still use the banned 17c Formula (or a version thereof) …
• Insurance Companies Pay the “Low-Ball” Diminished Value settlement …
• Their “Contingency Fee” and “Appraisal Fee” is then Deducted from Your Settlement !
Statute of Limitations for Property Damage Claims Nationwide
A statute of limitations requires a claim to be settled or lawsuit initiated within a certain time period. Please Use the list below to determine how long the Statute of Limitations for your Diminished Value claim is in your state:
| State | Years |
|---|---|
| Alabama | 2 |
| Alaska | 6 |
| Arizona | 2 |
| Arkansas | 3 |
| California | 3 |
| Colorado | 3 |
| Connecticut | 2 |
| Delaware | 2 |
| District of Columbia | 3 |
| Florida | 4 |
| Georgia | 4 |
| Hawaii | 2 |
| Idaho | 3 |
| Illinois | 5 |
| Indiana | 2 |
| Iowa | 5 |
| Kansas | 2 |
| Kentucky | 2 |
| Louisiana | 1 |
| Maine | 6 |
| Maryland | 3 |
| Massachusetts | 3 |
| Michigan | 3 |
| Minnesota | 6 |
| Mississippi | 3 |
| Missouri | 5 |
| Montana | 2 |
| Nebraska | 4 |
| Nevada | 3 |
| New Hampshire | 3 |
| New Jersey | 6 |
| New Mexico | 4 |
| New York | 3 |
| North Carolina | 3 |
| North Dakota | 6 |
| Ohio | 2 |
| Oklahoma | 2 |
| Oregon | 6 |
| Pennsylvania | 2 |
| Rhode Island | 10 |
| South Carolina | 3 |
| South Dakota | 6 |
| Tennessee | 3 |
| Texas | 2 |
| Utah | 3 |
| Vermont | 3 |
| Virginia | 5 |
| Washington | 3 |
| West Virginia | 2 |
| Wisconsin | 6 |
| Wyoming | 4 |