If your car is damaged in an accident, in addition to repairs and a rental should you also be given compensation for diminished value?
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If your car is damaged in an accident, in addition to repairs and a rental should you also be given compensation for diminished value?
My wife was hit in the front end by a plumbing truck; it had over $10,000 in damage. The at fault driver’s insurance paid for the repair and rental car. But what about the diminished value? The insurance rep will not recognize the diminished value, and dealers are reluctant to give me a dollar value for diminished value. Yet everyone I talk to tells me that it has a huge effect on my resale value.
Asked on June 20, 2011 under Accident Law, Texas
Answers:
Richard Weaver / The Weaver Law Firm
Answered 13 years ago | Contributor
Yes, you can loss of value to your car. You should also consider seeking damages her her injuries. I would think that with $10,000.00 worth of damages to her car, she probably was injured. Have you sought medical care?
Please call to discuss.
R.D. Weaver
Attorney At Law
866-605-6226
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Of course any car accident has an impact on the car, but diminished value is not quantifiable. Your wife received what she should have gotten for economic damages (repair and rental). Did she lose time at work? If so, perhaps if you have yet to settle fully with the insurance company, you might be able to get some of that and also any medical expenses. Other than that, there is nothing much else you can do. Keep in mind, with car accidents and depending on the extent of the damage, you get repair cost, replacement or cost if totalled, whichever is less or appropriate to the situation.
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