When Carfax, AutoCheck and or WreckCheck show an accident,
our Client’s Vehicle Could Lose Thousands in Resale Value.
Our Law Firm Fights to Get it Back!
Any reported accident, even a perfectly repaired vehicle suffers a measurable loss in market value. The stigma of purchasing a ‘damaged’ automobile is no different than having a low credit score. Consequently, most states’ laws require that a seller to acknowledge any prior repair history or accidents. This loss for a vehicle is called Diminished Value. Regretfully, insurance companies do not voluntarily discuss this topic with consumers. Millions of dollars therefore disappear in vehicle value without most people being even aware of the lingering issues associated with a crash.
For many vehicles, especially exotics, supercars, classics, limited editions and RV’s, this loss may range from a few thousand dollars to $150,000 or more. Factors such as repair cost, year, make, model and mileage along with its scarcity are calculated.
In most cases, the at-fault owner/drivers’ insurance carriers are primarily responsible for paying for a diminished value claim. While for others, a person’s own U.M. or U.I.M. (Uninsured/Underinsured) coverage may apply. Unfortunately, the typical adjuster’s response simply attempts to limit any recovery to the repairs only; we find that unacceptable!
Since 2016, attorneys Jack Schrold and Evan M. Ostfeld have taken the war directly to insurance companies on behalf of their clients, as they don’t view their vehicles as merely “transportation”; it is an asset to them.
Fight the Good Fight!
Diminished Value Recovery
“Let us try to get you money in your pocket for an accident that was not your fault!” -Evan M. Ostfeld, Esq.
“Having an experienced team working on your diminished value claim can be the diference between getting an insurance company denial and thousands of dollars in recovery.” -Jack Schrold, Esq.
The burden of proving any loss of vehicle value is on the client. As such, licensed appraisers who have years of experience, may be part of the solution. Backing up claims with recent, clear comparisons using actual sales history and data serves as the basis for our negotiations, is key. Insurance companies however are always looking to explain away legitimate DV claims using ridiculous rhetoric such as:
- Only top-notch parts were used in the repairs.
- Responsibility ends with repairs.
- No decrease in value due to car history reporting.
- Comps and sales history need to be from the local area.
- No financial damage since the vehicle hasn’t been sold.
Our legal team has the experience to deal with the “tricks of the trade” that insurance companies use to delay, diminish, deny and defend against your claim.
How Can We Help You?
The basic criteria for having a ‘case’ with our office for are:
- The vehicle is not a lease.
- The final repair invoice is $4,000 or higher.
- No prior accident or insurance claim.
- You were not at fault at all for the accident.
If you have questions to see if you qualify, feel free to reach out.
We never charge for a consultation, and there is no attorney’s fee unless we win. Our concierge approach means that our legal team is available to assist.
The Law Offices of Evan M. Ostfeld, P.A.
(866) I SUE YOU (478-3968), (954) 227-7529
(954) 608-1716 Jack’s cell
[email protected], attorneyjack.com
attorneys4life.com, [email protected]
