CAR ACCIDENT DAMAGE REPAIRED – IS CAR WORTH LESS?
Often after an auto accident, the first task is get the damage to their car fixed.The car repairs may be paid by the other driver’s insurance if they were at fault. Also, your own insurance may pay if you have collision coverage/full coverage.
In some car accidents there is substantial damage to your car, but it is still repairable.You may wonder if the car is now worth less even after it has been repaired. You may also ask whether you can be compensated for the reduced value of your car.Yes, your car may very well have less value after a crash, even if it was fixed.When you make an insurance claim, there is a record of the repairs. That repair information can sometimes be accessed by prospective buyers, particularly if you trade in the vehicle at a dealership.Even if you sell your car privately, a potential buyer may ask you if the car has ever been in an accident.
ADDITIONAL COMPENSATION FOR REDUCED CAR VALUE AFTER REPAIR
It may be possible to get additional insurance compensation for the reduced value of the car after it has been repaired.However, the insurance company will not do this easily.Generally, you will at least have to have the car evaluated by an expert appraiser.
In a recent Minnesota court of appeals decision, the court explained that the vehicle appraisal report must discuss in detail how the amount of any reduced value is arrived at. In other words, the appraiser should determine the value of the car before the crash and provide a detailed appraisal of the car after the repairs are completed.
Determining the value of the car prior to the crash is likely a bit challenging for an appraiser who had not seen the car before. However, if done carefully, it could likely work.For example, the appraiser could be shown recent pictures and the car’s maintenance records. Then, the appraiser examines the post-accident vehicle, taking into account the recent damage. The appraiser’s report should also discuss the sale of other vehicles in similar situations and how the price was affected.
The key is getting a detailed report from the appraiser and fully explaining how the reduced value is arrived at. That way, the insurance adjuster or court won’t conclude that it is just speculation.
It is not going to be worth the cost and time to go through this in many cases. However, if you have an expensive car with extensive damage from a crash, it may be worth it.
CAR ACCIDENT LAWYERS
At the Rochlin Law Firm, our lawyers focus ongetting people full compensation after they have been injured in a car accident in Minnesota. In most cases, it is not economical to hire an attorney just to help you recover compensation for damage to your vehicle.However, even if you have not been injured, our top lawyers are always willing to spend a few minutes on the phone with you. We will at least answer your questions about the insurance issues and point you in the right direction.