MERCEDES DIMINISHED VALUE CLAIMS IN VIRGINIA

Mercedes Diminished Value Claims

Being involved in a car accident that was not your fault is often a stressful experience. Even if you were not hurt, you now how to deal with the prospect of repairs and other property damage issues. However, if you are the owner of a newer vehicle, such as a Mercedes Benz, then you have even more headaches to worry about. Mercedes cars, trucks, and SUVs are some of the finest automobiles on the road, and they maintain their inherent value for quite a while....unless they have been involved in a car accident.

If your Mercedes was damaged in an automobile accident that was no fault of your own, you may be entitled to claim your vehicle's diminished value to compensate you for the loss of the resale value of your car. Contact an experienced Virginia Diminished Value Attorney who has extensive knowledge of car accident claims throughout Virginia, and the whole DMV. We will review your case, investigate your claim, and help you fight for your diminished value compensation. To get started with this process, contact Blaszkow Legal for a free consultation: 703-879-5910

What is a diminished value claim?

Diminished value is the compensation that you can obtain for the difference in the price of your vehicle, from before the accident, to after all of the post crash repairs are completed. This allows you to obtain compensation for what the resale value of your Mercedes would have been before the accident, compared to what it is now.

Due to the stigma that exists in people, a car that has been involved in a crash sells for less money that one that has not. Even if completely structurally sound, the value drops. This drop is your diminished value claim.

What is the Virginia law on diminished value claims?

Virginia has codified diminished value claims in Virginia Code 46.2 - 1600. This compensation is considered part of a property damage claim, but is not the same as the repair of the vehicle. This claim is specific, and seats the compensation that you can no longer obtain if you were to attempt to sell your vehicle, after the crash.

Because diminished value claims are considered a property damage claim (as opposed to an injury claim), you have 5 years from the date of the collision to file the underlying claim.

What if my Mercedes was damaged in a parking lot?

Parking lot accidents can be just as damaging to a newer vehicle as one at speed, on the roadway. You still have the right to file a claim. Any time you cannot identify the at-fault party (such as in a hit-and-run in a parking lot), your diminished value claim can be pursued through your own Uninsured Motorist Coverage.

Investigating a car accident

After a car accident, you have to prove that the other party is at fault. The burden of proof is always on the plaintiff, or the person who is bringing the claim. Pre-litigation, this person is called a claimant. Most clients come to us after they have already spoken with the at-fault insurance company. While we strenuously recommend against this, generally insurance companies do not contest liability in diminished value cases. However, you should be warned, that they always have that option!

Should I file a diminished value claim for my Mercedes Benz?

This is a vexed question. It actually has two unique components: 1) do I have a diminished value claim, and 2) does my diminished value claim necessitate the involvement of a diminished value lawyer?

Let us answer these each in turn:

Do I have a diminished value claim?

In Virginia, if the accident was not your fault, and your vehicle is now worth less after the repairs have been completed, than what it was before the accident, the answer to this is generally yes. However, diminished value ranges wildly in amount. Some diminished value claims are $500, and some are $25,000!

Do I need an attorney?

Even this question is a little complex. A diminished value claim, as we've discussed, is for the difference in pre-accident value, and post crash/post repair value of the car.

If the amount of the diminished value is relatively modest, for example under a few thousand dollars, then generally it is not going to be cost-effective for you as a claimant to hire an attorney. This valuation, however, is for those whose only claim is for diminished value. If you have been injured in an accident, then this changes the calculus completely! If our office is representing you for your injuries, as well as diminished value, then we will assert and fight for any diminished value claim!

How does a diminished value claim work?

The process of asserting a diminished value claim is relatively straight-forward:

1. Ensure your vehicle is repaired.

2. Drive the vehicle for a week or so, to make sure there are no noises or problems, post-repair.

3. Contact Blaszkow Legal so we can open up a file, and begin investigating the case.

4. Get a Diminished Value Appraisal from a certified, independent appraiser.

5. A demand letter will be sent to the at-fault (or UM) insurance company.

6. Negotiations will begin, and you are involved in this process!

7. The case settles, or we recommend going to trial to fight for your claim.

A word about Diminished Value Appraisals: There are plenty of online sites that will offer you an appraisal for a few hundred dollars, and these are sometimes generated by AI (artificial intelligence), and other times by non-certified personnel. The insurance companies will generally not consider these appraisals, and even if the report was done by a real person, they also know that you are not going to fly someone in from Sheboygan to Alexandria for a $5,000 claim! If at all possible, you want to get an in-person appraisal done, by a local appraiser who can if necessary, come to court to testify.

Most diminished value lawsuits are filed in Virginia's General District Court.

Contact an Experienced Virginia Mercedes Diminished Value Lawyer

If you have been involved in a car accident, whether on private property or anywhere, where your Mercedes was damaged, then you have the right to file a claim for your compensation. The insurance companies do not make this easy, of course. Always speak to an attorney, before you speak to an insurance company. We are ready, willing, and able to fight the insurance companies for you, and we will.

Contact us today for a free consultation and Get Justice with Joe!

Alexandria/Northern Virginia Office:
5270 Shawnee Road #102, Alexandria, Va. 22312
703-879-5910

Richmond Office:
7824 Shrader Road, Richmond, Va. 23294
804-273-8929

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