Legal Representation for Diminished Value Accident Claims in New York City
Insurance companies talk a big game. They’re good neighbors. They’re on your side. They have you in good hands.
With promises like that, it’s no wonder that the insurance claims process strikes so many policyholders as a rude awakening. Insurers, it seems, are only on your side until you ask them to pay for something.
Most New York City auto accidents involve at least two kinds of claims: (1) personal injury and (2) damage to the vehicle itself.
Each of those claims may involve multiple types of damage. Personal injury, for example, might include medical expenses, time away from work, and compensation for emotional distress, among other things. Vehicle damage, meanwhile, can include the cost of repairs, rental car expenses, and diminution in value, among other damages.
On this page, we will focus on diminution in value or, as most people refer to it, a diminished value accident claim. There’s a lot to know.
How Diminished Value Accident Claims Work
The second your car is involved in an accident, it loses financial value. Thanks to Carfax, that is true even if there is little to no damage. Of course, the greater the damage, the greater the loss in value (generally speaking).
New York is a diminished value state. That means you have a right under New York law to receive reimbursement for your vehicle’s diminished value after an auto accident caused by someone else’s negligence.
Unfortunately, insurance companies typically deny diminished value accident claims. In fact, some of them send out those denials as a matter of habit.
Why? It’s simple: they figure they can get away with it. Most people do not hire a lawyer to sue for diminished value accident claims because there isn’t enough financial value attached to that claim (unless the victim also suffered personal injuries). The insurance companies know that, so they simply deny the claim, even if they have a crystal-clear legal obligation to pay it.
For many New Yorkers, a diminished value claim is the very first glimpse at just how stubborn and unfair insurance companies can be. And if you think they put up a fight over diminution in value, just wait until the personal injury claims (which are typically worth much more money) reach their desks.
None of this is fair. The law is the law, and if you’ve suffered a loss in vehicle value after an auto accident caused by negligence, you deserve full compensation for the diminished value, not to mention all of the other damages you might have suffered. Our office can help.
How to Access Legal Representation for Diminished Value Claims in NYC
At Kaplan Lawyers PC, we understand how frustrating and discouraging the whole insurance claims process can be. We also know that it’s incredibly disheartening to have a law firm tell you that they can’t help.
The reality is that not every diminished value case warrants an attorney. But many do, and some law firms are too quick to dismiss these cases without fully considering them. As a matter of fact, your case might be worth much more than you realize, including potential personal injury claims.
We accept many cases that other law firms do not. Even if we ultimately conclude that we can’t be of significant help in your case, you can count on us to listen to you, thoroughly consider all of your options for compensation, and give you honest feedback — all at no charge.
Our New York City car accident lawyers are proud to offer free case reviews with no cost or obligation. We’ll help you determine whether you have a claim to compensation, how much that claim might be worth, and what your best next steps might be.
We are here to help you take a stand against unfair insurance companies whenever possible. Contact our New York City car accident lawyers today.
Call Now for a Free Case Evaluation!(212) 563-1900 (NYC) (516) 399-2364 (Nassau County) (347) 758-9011 (Brooklyn) (631) 619-5309 (Suffolk County) (917) 382-9212 (Queens)
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