Is Your Vehicle Worth Less After A Car Accident? 3 Things to Keep in Mind:

In Short, Yes.

If your vehicle is involved in a car accident and sustains significant damage, it will likely be worth less than it was before the accident. People may still be interested in purchasing your car, but they will probably want a discount because of the damage.

Comparables: The Secret Weapon Insurance Companies Hate

If your vehicle is considered a total loss after an accident, an experienced Phoenix vehicle accident attorney can help you get compensated for the loss of value to your vehicle. This can be done by showing the insurance company that your vehicle is a total loss. If your car is damaged in an accident, the insurance company is required to compensate you for the fair market value of your vehicle. If the damage to your car is not severe enough to be considered a total loss, an expert can be hired to determine the diminished value of your vehicle. The expert will consider the amount of damage, the type and make of your vehicle, and the value of your vehicle before the accident to determine how much money your car’s value has decreased as a result of the accident. We can help you get the most money possible from your insurance company if you decide to sell your vehicle. We will provide the insurance company with a report showing the difference between the fair market value of your vehicle and the selling price you received.

We Know How to Value Your Loss

The diminished value of a vehicle is the value of the vehicle after it has been in an accident. Many states do not allow diminished property value claims, but Arizona does. This means that if your vehicle has been in an accident and has lost value, you may be able to get the insurance company to pay for the lost value. However, it can be difficult to prove the loss of value, so you may need to find a skilled auto accident lawyer in Arizona to help you. If your car has been badly damaged in an accident, please call us right away for a free evaluation. (480) 947-3525

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