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

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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

Answers:

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

Answered 12 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.


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