Where do I start with a deminished value claim and not get cheated by the insurence co

UPDATED: May 25, 2009

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Where do I start with a deminished value claim and not get cheated by the insurence co

I drove off the lot in my brand new truck and 24 miles later i was hit by a young lady how told the responding officer that she wasn’t paying attention. at least she has insurance! however, this truck will never be worth like vehicles. It only has 44 miles on the odometer and will now have an accedent history(carfax report)

Asked on May 25, 2009 under Accident Law, Illinois


B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 13 years ago | Contributor

I'm very sorry, but it's not likely that the insurance company would be "cheating" you by only paying for the cost of repairs.  To be certain, you could talk to a lawyer in your area, and one place to find qualified attorneys is our website, http://attorneypages.com

It's usually difficult to estimate how much value is lost because of the accident history.  Part of this is the fact that the difference between the value of your truck, and the value of one just like it but with no accident history, gets smaller over time.

You can consider yourself lucky, in a way -- if your truck had been totalled, the insurance company would have paid you for the value of a very-low-mileage used truck, not a new one.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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